BVI – Economic Substance Rules and Explanatory Notes’ Published
On October 9, 2019 the BVI International Tax Authority published the final version of their ‘Rules and Explanatory Notes’ (the “Rules”) on Economic Substance. The Rules replace the draft BVI Economic Substance Code (the “Code”). The Rules provide very important guidance and explanatory notes to assist with the interpretation of the Economic Substance (Companies and
Read MoreBVI – Economic Substance – Update: Final rules and explanatory notes expected to be published on 30 September 2019
By way of background, a first draft Economic Substance Code was published by the BVI International Tax Authority (“ITA”) in April 2019. It is anticipated that the final code, now referred to as Rules (and Explanatory Notes), will be published on 30 September 2019 (the “Rules”). A further update will be circulated once the final Rules are available.
Read MoreBritish Virgin Islands – Update on substance rules for BVI companies and limited partnerships
Following the introduction of the Economic Substance (Companies and Limited Partnerships) Act, 2018 (the Act) in the British Virgin Islands (BVI) on 1st January 2019 all BVI companies and all limited partnerships with legal personality will need to assess their compliance with the Act and submit compliance reports within six months after the end of
Read MoreBritish Virgin Islands – The domicile of choice for crypto asset funds
According to last year’s reports published by CoinShare, the British Virgin Islands (BVI) is the 2nd largest cryptocurrency market in the World (after the USA) and is responsible for 2 of the largest 3 Initial Coin Offerings. Perhaps this follows given that the BVI is also a very well-known and regarded domicile for investment funds. Crypto Asset
Read MoreHatstone BVI expands with new senior lawyer
Solicitor of the Eastern Caribbean Supreme Court Hatstone Group Partner Carl O’Shea has recently been sworn in as a Solicitor of the Eastern Caribbean Supreme Court (British Virgin Islands). Carl said: “I am delighted to have been admitted in the BVI joining my colleagues Philipp Neumann and Sarah Masson. My admission is a further statement of the Hatstone Group’s commitment
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