IFLR 1000
The Guide to the World's Leading Financial Law Firms

British Virgin Islands

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British Virgin Islands updates cornerstone companies law regime

Colin Riegels
Harneys
Tortola

With over 900,000 companies formed (approximately 450,000 of which are still active), the British Virgin Islands (BVI) is by some way the world's most popular offshore corporate domicile. In 2012 the BVI Business Companies Act (the BC Act) was amended and new regulations issued to introduce a number of measures aimed at keeping the BVI's corporate legislation attractive to the market. The amendments take effect on a date to be proclaimed, likely in the third quarter of 2012.

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A legal market guide

Over the course of the past year, the market has noted an increase in the number of firms on the British Virgin Islands (BVI). "There has been a surge of new entrances into the legal market, especially the large offshore firms," one partner notes....

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Financial and corporate

CONTEXT AND TRENDS "Economic recovery remained patchy", was the overall summary of the last 12 months by one partner. However, there is consensus among lawyers that there has been an uptick in transactional work during the past year, with the British Virgin Island's (BVI) economy moving from restructuring to new deals born out of growth....

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See also

British Virgin Islands
Latin America

Legislation guide

British Virgin Islands updates cornerstone companies law regime

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