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31Jan

BVI Finance This Week 28/01/22

31 Jan, 2022 | View Counts (160) |Return|
 

FRIDAY 28 JANUARY 2022

 

 

 

 

H O M E

   

A B O U T

   

EVENTS

   

BVI GLOBAL IMPACT

 

 

 

THE OFFSHORE ADVANTAGE: M&A IN THE BVI

 

 

 

 

 

 

By most measures, 2021 has been a banner year for M&A globally, and across our key markets in Asia, the US and Latin America in particular. As a prominent law firm in the BVI, Harneys has consistently worked on large and complex mergers and acquisitions (M&A) involving BVI companies.

Our experience includes the jurisdiction’s largest ever public merger, complex takeovers effected by court driven schemes and plans of arrangement, and a full range of public and private share sales. The rise of SPACs, which are often incorporated offshore, has added a new engine to offshore M&A, and this impact is likely to increase further given the amount of "dry powder" in these vehicles.

Click here to read more.

 

 

 

 

 

BVI COURT CLARIFIES DISSENTER AND STATUTORY APPRAISAL RIGHTS OF SHAREHOLDERS

 

 

 

 

 

 

Over the past 12-18 months we have seen a marked increase in the number of BVI statutory fair value appraisals as a result of minority shareholders exercising dissent rights to certain types of transactions, including take-private transactions and SPAC acquisitions.

 

In a recent judgment in the matter of Nettar Group Inc v Hannover Holdings S.A. the BVI Court provided clarification on the right to dissent and held that a member can only exercise dissenter rights under section 179 of the BVI Business Companies Act in respect of shares for which it is the registered shareholder as at the date on which written notice of objection is given pursuant to section 179(2) of the Act or, where such notice is not required, the date of giving written notice of election to dissent pursuant to section 179(5) of the Act.

Click here to read more.

 

 

 

 

 

BVI: FUTURE - PROOFING FOR CONTINUED GROWTH AND SUCCESS

 

 

 

Simon Gray

 

 

 

In just over 30 years the British Virgin Islands (BVI) has firmly established itself as one of the world’s leading international finance centres and the go-to jurisdiction for the incorporation of companies – especially those created to facilitate cross-border trade, investment and business.

The foundations of the BVI’s success are its modern, flexible and efficient company, trust, and funds legislation which has been tailored to the needs of global business; its sound and stable government and respected financial regulation; and its cost effectiveness in addition to its tax neutrality. An important element remains the culture of collaboration that exists between regulator and regulated alike, leading to regulatory changes that are practical, proportionate and workable.

Click here to read more and click here to read the full report.

 

 

 

 

 

BVI | ICLG PRIVATE CLIENT GUIDE 2022

 

 

 

 

 

 

David Pytches

   

Lucy Diggle

 

 

 

Walkers has once again worked with ICLG to create the British Virgin Islands chapter of their Private Client guide for 2022.

 

The guide provides expert legal commentary on key issues and covers the important developments in the most significant jurisdictions.

 

Walkers' BVI chapter covers common issues in private client laws – including pre-entry tax planning, connection factors, taxation issues on inward investment, succession planning, trusts and foundations, immigration issues and tax treaties.

Click here to read more.

 

 

 

 

 

MERGERS AND ACQUISITIONS - A BVI GUIDE

 

 

 

 

 

 

Ian Montgomery

   

Martyn Heyes

 

 

 

The British Virgin Islands (BVI) remains a popular and accessible jurisdiction for merger and acquisition transactions (M&A), with a range of flexible options for both public and private deals. Many of these options and concepts will be familiar to onshore lawyers, but are often simplified and expedited in the BVI. As a result, BVI companies are frequently used in significant global M&A deals, and listed on some of the world's largest stock exchanges.

Click here to read more.

 

 

 

 

 

BEYOND TAX: ISLAND IFCs HAVE BEEN OUT OF THE TAX GAME FOR YEARS BUT MAY STILL SUFFER FROM G20 SHENANIGANS

 

 

 

The commitment of 136 nations to a global minimum profit tax heralds a new era for tax policy – and is a strong indicator of how the global dynamic is shifting. The large nations behind the new regime see it as a way to circumvent tax avoidance and, in the case of the United States, United Kingdom, and France, avoid a punch-up over a digital tax on (mainly) American tech firms.

The likes of Ireland, the Netherlands and Luxembourg have leveraged their membership of the European Union, and their access to broad and comprehensive networks of double taxation agreements, to offer multi-national companies the potential to shift profits into their favourable tax sanctuaries. 

Click here to read more.

 

 

 

 

 

EMPLOYMENT OPPORTUNITIES

 

 

 
  1. Senior Associate - Dispute Resolution
  2. Manager, Audit
  3. Senior Accountant/Assistant Manager, Audit
  4. Senior IT Administrator
  5. Legal Secretary
  6. 4 to 6-year PQE Attorney, Civil/Commercial Litigation
  7. Human Resources Manager

 

 

 

 

 

 

 

 

 

 

BORRELLI WALSH (BVI) LIMITED CHANGED ITS LEGAL NAME TO KROLL ADVISORY (BVI) LIMITED

 

 

 

 

 

 

As you should be aware, in December 2020, the Borrelli Walsh group (including Borrelli Walsh (BVI) Limited (“BW”)) was acquired by Duff & Phelps (“D&P”), a leading provider of services and digital products related to governance, risk and transparency. D&P has subsequently unified its group of companies and rebranded globally as Kroll.

Effective 22 October 2021, BW changed its legal name to Kroll Advisory (BVI) Limited to align with the new brand.

Kroll provides proprietary data, technology and insights to help our clients stay ahead of complex demands related to risk, governance and growth. Our solutions deliver a powerful competitive advantage, enabling faster, smarter and more sustainable decisions. With 5,000 experts around the world, we create value and impact for our clients and communities.

Click here to read more.

 

 

 

 

 

JTC SELECTS MARY’S MEALS AS GLOBAL CHARITY TO SUPPORT WITH LATEST PROSHARE AWARDS WIN

 

 

 

 

 

 

Global professional services provider JTC is proud to announce that it has selected Mary’s Meals as the recipient of their ProShare award donation prize.

This past December in London, JTC was named “Best Overall Performance in Fostering Employee Share Ownership” in the 501-5,000 employees category for their Stronger Together culture and shared ownership programme. A prize donation of £5,000 – sponsored by ShareGift – was included as part of JTC’s award-winning prize.

 

Mary’s Meals is a global charity whose goal is to provide at least one meal a day to children in underprivileged parts of the world during their school day as a way to also alleviate poverty.

Click here to read more.

 

 

 

 

 

 

 

 

 

 

IN THE NEWS

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Economic Substance For Private Wealth – Much Ado About Nothing?

Crypto money laundering rises 30%, report finds

   

UPCOMING EVENTS

Annual General Meeting 2022

Thursday 3rd February | 4:00 p.m.

 

 

 

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BVI Finance

Road Town, Tortola, BVI

www.bvifinance.vg