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Corporate Governance British Virgin Islands BVI Business Companies

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BVI Corporate Review - Q3 2024

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Welcome to the Conyers BVI Corporate Review for Q3 2024. In this edition we cover the upcoming annual return filing deadlines for BVI companies, recent headline transactions, recent publications and British Virgin Islands...more

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英領ヴァージン諸島(BVI)籍投資ファンドとBVI承認マネージャー

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本文書では、BVIにおいてファンドが活用できる各種オプションの概要をご紹介いたします。 BVI投資ファンドは、会社、リミテッドパートナーシップまたはユニットトラストのいずれかの形態で組成することができます。BVI会社型ファンドは、オープンエンド型ファンドを設立する際に最も一般的な形態です。クローズドエンド型ファンドは、リミテッドパートナーシップの形態で設立されることが多いです。...more

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BVI Investment Funds and BVI Approved Managers – What Makes Them a Sensible Choice

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The Cayman Islands remains the most popular jurisdiction for offshore investment fund set-ups. However the British Virgin Islands (BVI) offers a range of fund products worth considering. In addition, the BVI provides a...more

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IPOs – Themes and Trends 2024

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When I last reviewed the themes and trends we are seeing for IPOs of Bermuda and Cayman companies from our office in Hong Kong in mid-2022, it was very much a tale of two cities. Two years later, there is little to indicate...more

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BVI Commercial Court Dismisses Judgment Debtors’ Attempt to Set Aside US$97 Million Judgment

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In a recent decision of the BVI Commercial Court, the Honourable Mr Justice Wallbank dismissed an application by the Defendants in King Bun Limited & Ors v Lau Man Sang James & Ors to set aside a previous order granting...more

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Why BVI?

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The British Virgin Islands (“BVI”) are home to 361,491 active companies as of 31 December 2023. This article considers the reasons for the BVI’s popularity as a jurisdiction to structure international transactions....more

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BVI Quarterly Corporate Update Q1 2024

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Welcome to the first edition of our Quarterly Corporate Update for 2024 covering recent developments in the British Virgin Islands. The first quarter of 2024 saw continued strong activity in the BVI office. Our corporate...more

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Annual Returns - Preparation for Upcoming Deadlines

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As described in more detail in our recent client bulletin, BVI companies are now required to prepare and file with their registered agent an “annual return” containing a basic balance sheet and income statement. This annual...more

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Newcomer Injunctions – a Tool in the Fight Against Crypto Fraud?

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On 29 November 2023, the UK Supreme Court (the “UKSC”) handed down its decision in Wolverhampton City Council and others (Respondents) v London Gypsies and Travellers and others (Appellants). In that case the UKSC thoroughly...more

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Conyers BVI Quarterly Corporate Update – Q4 2023

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Welcome to the latest edition of our Quarterly Corporate Update covering recent developments in the British Virgin Islands. Q4 of 2023 saw a strong uptick in activity in the BVI office. Our corporate legal team continued...more

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Cayman Islands Litigation: Reflecting on the Year 2023

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As the Grand Court of the Cayman Islands reopens for 2024, we reflect on 2023 and some of the large-scale cross-border insolvency and restructuring proceedings, and complex commercial disputes dealt with in the jurisdiction...more

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Asset Tracing Services - BVI Norwich Pharmacal Orders: How to Obtain One and Key Points to Keep in Mind

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Norwich Pharmacal orders have long been a powerful tool employed in the BVI in aiding foreign proceedings. It is also quite a welcome development that the BVI Commercial Court has confirmed that a Norwich Pharmacal order is...more

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Beyond the Betrayal: Navigating Strategies for Victims of APP Fraud

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Authorised Push Payment (“APP”) fraud, where victims are tricked into authorising payments to fraudsters, resulted in losses of £485.2m in 2022 and is reported to have risen by 22% in 2023. With consumer protection laws...more

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Voidable Dispositions under the Conveyancing and Law of Property Act – an Underutilised Tool in the BVI Asset Tracing Toolbox

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Voidable dispositions in the BVI are governed by section 81 of the Conveyancing and Law of Property Ordinance. The Act was passed in 1961 and is often overlooked in the heady world of fast-paced litigation where fraudsters...more

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Key Advantages of BVI Companies

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BVI companies are flexible and low cost vehicles which can be tailored to meet the specific requirements of their members and their proposed purposes while being internationally recognised and listed on exchanges around the...more

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King Bun Limited and Others v. Lau Man Sang, James and Others - Claim No. BVIHC (COM) 2017/086

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Nov 2023 In August 2021, the BVI Commercial Court handed down judgment on liability in favour of the Claimants against seven directors of Vanway for carrying out a fraud on the minority shareholders, in selling the assets of...more

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Tracing Wealth in the BVI in Aid of Arbitration: Unravelling the Breach of Fiduciary Duties

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The gravity of any arbitration award lies in its successful enforcement. The enforcement process may be frustrated and produce little result if the winning party does not identify at the outset the assets against which the...more

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What’s “the matter”? The UK Supreme Court’s decision on the scope of arbitration clauses

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The UK Supreme Court in a recent decision has clarified the approach to be taken in determining when a matter ought to be referred to arbitration under an arbitration clause, and when such a matter falls outside of an...more

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Conyers BVI Quarterly Corporate Update – Q3 2023

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Welcome to the latest edition of our Quarterly Corporate Update covering recent developments in the British Virgin Islands. Q3 of 2023 has been a busy quarter for the BVI office. Our corporate team continued to advise on...more

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Conyers secures US$178 million Judgment for Claimant in long-running BVI shareholder dispute

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On 24-25 October 2023, Justice Wallbank of the BVI Commercial Court presided over a valuation trial in the matter of Soemarli Lie v Ng Min Hong & Success Overseas Finance Limited BVIHC(Com) 2020/147 (the “Valuation Trial”). ...more

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British Virgin Islands Removed from EU Tax Blacklist

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Following a meeting of the Council of the European Union on 17 October 2023, the British Virgin Islands (“BVI”) was removed from the EU list of non-cooperative jurisdictions for tax purposes (Annex I), the EU’s so-called...more

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Restoration of BVI Companies Struck Off Before 1 January 2023

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BVI companies that were struck off prior to 1 January 2023 were automatically dissolved and ceased to exist after 30 June 2023. Any assets held by such companies have now automatically been vested in the Crown. In order to...more

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Lau Man Sang, James and Others v. King Bun Limited and Others BVIHCMAP2021/0034

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On 7 July 2023, the Eastern Caribbean Court of Appeal handed down judgment in BVIHCMAP 2021/0034 Lau Man Sang, James and Others v. King Bun Limited and Others. Conyers represented the successful Respondents before the Court...more

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Conyers BVI Quarterly Corporate Update – Q2 2023

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Welcome to the latest edition of our Quarterly Corporate Update covering recent developments in the British Virgin Islands. Following the flurry of legislative amendments in the latter half of 2022 and Q1 2023, Q2 has...more

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Directors’ Post-Liquidation Duties under BVI Insolvency Law

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In the recent decision of Greig William Alexander Mitchell & Ors v Sheikh Mohamed Bin Issa Al Jaber & Ors [2023] EWHC 364 (Ch), the English High Court was required to consider the question of what duties (if any) a director...more

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