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BVI GLOBAL IMPACT

BVI FINANCE GOLD SPONSOR OF THE MIDDLE EAST INVESTMENT SUMMIT 2020

BVI Finance is a gold sponsor of the Middle East Investment Summit 2020 taking place virtually on Monday 9^th and Tuesday 10^th November.

The first event on 9^th November is entitled: Innovation in funds and trusts - a hive of activity

Innovation is quickly changing the investment world as we know it. From innovative fund and trust and succession planning allocation to the rise of digital asset classes, investors need to respond both quickly and effectively to the evolving opportunities and ‘new norms’. In this webinar, expert panelists will discuss, debate and aim to develop best-practice as the global investment community races to adapt to a new way of operating. BVI Finance members will look deeper into a new fund and trust strategies to keep up with the rate of change, exploring:

•  Recent innovation in the world of funds
•  Developments in trust and succession planning
•  Trends in PE/VC and hedge funds 
• Reacting to new regulatory challenges 
• Funds and trusts best suited for a family office 
• Will any of the new and emerging priorities endure post-Covid-19?

Representatives for BVI Finance are Philip Graham - Harneys; Tom Cochrane - Walkers; Philip Ireland – Maples; Simon Filmer – VISTRA and Jeff Kirk – Appleby. The event is being hosted and moderated by Simon Gray of BVI Finance.

The second event on 10^th November is entitled: Ensuring compliance with the EU’s Economic Substance requirements:

• will the trend of extra-territorial laws and regulations continue
• tales from the front line of compliance – the BVI experience
• is “whitelisting” the holy grail
• the way forward – EU or OECD?
• global or regional standards?

On this panel are Michael Fay QC as host and Moderator. Also Charlotte Bailey – Managing Director at TMF and President of the ARA, Warren Luyt – Managing Director of Trident in the Middle East and James Barnard, Commercial Director of the Dubai Multi-Commodities Centre (DMCC).

Click here to register.

WHAT DOES A US PRESIDENT BIDEN MEAN?

KEEPING IT IN THE FAMILY

Many billions in assets are held globally by structures in the British Virgin Islands (BVI) designed for wealth and succession planning purposes.

However, within this, only a relatively small portion is currently owned by families and businesses from the Middle East region - but this is set to increase significantly in the coming years as international succession planning becoming increasingly important for Ultra High Net Worth (UHNW) families. Some lawyers working in the region have already seen the creation of BVI business structures rise by as much as 25 percent over the last three years with this trend set to continue.

Click here to read more 

LITIGATION IN THE BVI: VIRTUAL REALITY, A NEW REALITY?

In the recent case of Kathryn Ma Wai Fong v Incredible Power and Ors (BVIHC 52 of 2016), Carey Olsen, led by partner James Noble from its Singapore office, took part in the first major trial to be conducted remotely before the Eastern Caribbean Supreme Court since the British Virgin Islands (BVI) introduced emergency court measures in late March in response to the global coronavirus pandemic. The trial took place over 12 days and involved parties, witnesses and legal representatives from eight jurisdictions and six different time zones, all of whom participated via video-conferencing facilities hosted by the Court.

In these proceedings, the Claimant brought a derivative action on behalf of a Liberian entity against two BVI companies as well as those who were alleged to control them. It is the first derivative claim brought on behalf of a Liberian company in the BVI Courts.

This article discusses some of the challenges and considerations faced by litigants in a full virtual trial and suggests some practical initiatives which could help make the process as smooth as possible whilst also reducing the risk of the trial being adjourned on the basis that the parties and the witnesses are unable to physically attend.

Click here to read more.

PREMIER ANNOUNCES PROTOCOLS FOR ENTERING THE VIRGIN ISLANDS

The terms and conditions include periods of quarantine at approved accommodations, Polymerase Chain Reaction (PCR) testing, medical travel insurance that includes COVID-19 coverage, subscription to a contact tracing system through their mobile phone, and in some cases using a wearable device, and bearing the costs associated with these measures.

The Premier added that travelers will need a BVI Gateway Traveller Authorisation Certificate which will be obtained via an online portal, called BVI Gateway. The portal will be at bvigateway.bviaa.com and is projected to be live on Monday, November 2.

Click here to read more.

COVERDALE OFFICE RELOCATION

Coverdale is relocating on Monday 9^th November 2020 to the 4^th Floor, Water’s Edge Building, Meridian Plaza, Wickham’s Cay II, Road Town, Tortola, British Virgin Islands.

Contact details and mailing address remains that same.

FINANCIAL SERVICES INSTITUTE AT HLSCC

With a range of professional qualifications, certificates and short courses on offer, register now to take your career to the next level.

All of FSI courses will be offered online via live webinars allowing you to attend class from anywhere with an internet connection. FSI programmes also include access to the session recordings, providing additional flexibility for your studies and review. Additional in-person classroom sessions are available for selected courses.

Register now via registration.fsibvi.com

Spring - Summer 2021 schedule

JOB POSTINGS:

COMPLIANCE EXAMINER /ITA

Role Summary

The successful applicant will serve as a primary desk officer for conducting all inspections on entities to ensure their compliance with standards for tax information exchange and other international tax initiatives undertaken relevant to the International Tax Authority.  

Click here to read more.

SENIOR COMPLIANCE EXAMINER /ITA

Role Summary

The successful applicant will gather and analyze data/information to inform technical and strategic recommendations with respect to the remit of establishing and maintaining international relationships and alliances through the maintenance of a comprehensive compliance regime. 

Click here to read more.

ADMINISTRATIVE OFFICER /ITA

Role Summary

The successful applicant will gather and analyze data/information to inform technical and strategic recommendations with respect to the remit of establishing and maintaining international relationships and alliances through the maintenance of a comprehensive compliance regime. 

Click here to read more.

SENIOR ADMINISTRATIVE OFFICER /ITA

Role Summary

The successful applicant will gather and analyze data/information to inform technical and strategic recommendations with respect to the remit of establishing and maintaining international relationships and alliances through the maintenance of a comprehensive compliance regime. 

Click here to read more.

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BVI Finance

Road Town, Tortola, BVI

www.bvifinance.vg