log in
Submit an Article | Back

Member Articles

Sort By Title  |  Sort By Date

Benefits of a BVI Trademark: Classification of Goods and Services in Protecting Particular Brands in the British Virgin Islands
O'Neal Webster, January 2020

As we enter into a new decade, we cannot over emphasize the importance of protecting your brands. In this digital age, trademarks are becoming more vulnerable to infringement. Mass production and counterfeit products are swamping the market...

Revisiting and Resisting Freezing Orders in the BVI
O'Neal Webster, January 2020

Freezing orders are one of the most important weapons inacourt’s arsenal to prevent parties from disposing of or dissipating assetsto ensure they will be available to satisfy a potential future money judgment. In the British Virgin Islands, the court is empowered to grant a freezing order under the provisions of the Eastern Caribbean Supreme Court and the Civil Procedure Rules...

Navigating the British Virgin Island's Economic Substance (Companies and Limited Partnerships) Act, 2018
O'Neal Webster, April 2019

The European Union continues to push out new rules aimed at offshore financial centers. Specifically, the Code of Conduct Group (CCG) within the EU’s Economic and Financial Affairs (ECOFIN) Council has determined that jurisdictions that fail to satisfy the CCG’s requirement to end “preferential treatment” for non-resident companies are to be deemed ‘non-cooperative’ and effectively blacklisted...

BVI Takes Lead in Establishing Simple, Transparent, and Inexpensive Incorporation for Microbusinesses Around the World
O'Neal Webster, April 2018

Microbusinesses are a growing, vibrant, and profitable economic segment throughout the world. Such enterprises provide flexibility for individuals to operate on their terms, according to their skills and passions. Microbusinesses generally are defined by modest annual sales and asset values and fewer than five to ten employees, including the owner, but varies by jurisdiction...

British Virgin Islands' New Limited Partnership Act Offers Significant Changes
O'Neal Webster, February 2018

Best-known for its stunning natural beauty—jewel-colored waters, soft sandy beaches, and lush mountain ridges—the British Virgin Islands also excels among her peers in the international financial services industry. Notably, the Territory is relentless in its pursuit of refining and advancing its financial services legal structures and complying with worldwide regulatory regimes...

Legal and Economic Significance of Offshore Finance in the British Virgin Islands
O'Neal Webster, November 2017

International financial records recently stolen from two offshore services firms and 19 corporate registries maintained by governments were leaked to journalists and their details subsequently published around the world. But beyond the hype, however, we find no intelligent inferences of legal significance in the reporting. For example, the media draws attention to a United States Cabinet member's offshore financial transactions but does not allege that his shipping stake was illegal...

Investment Fund Managers "Brexit" to the BVI
O'Neal Webster, January 2017

In the post-recession economy, investment managers are looking for increased flexibility and ways to maximise investor returns by minimising set up costs, government fees and other related functionary and advisory costs. That is why many are now “Brexiting” to the British Virgin Islands. For years, the Cayman Islands has held the title of the world’s largest offshore fund domicile. Being the most well-known, it was the safe choice for investment managers...

Private Trust Companies: How to Obtain the Best of all Worlds - BVI
O'Neal Webster, November 2016

This article considers why private trust companies are currently so popular, various structuring issues which those setting up private trust companies should take into consideration, and the private trust companies regulations which came into force in the British Virgin Islands (BVI) in August 2007 and which were amended in 2013. Introduction Private trust companies (PTCs) have become increasingly popular offshore in the last 20–25 years...

Onshore vs Offshore – Is There Really a Battle?
O'Neal Webster, August 2016

Over the past few months the issue of offshore jurisdictions and the role they play in the global economy has come under extreme scrutiny, especially from onshore governments seeking to increase tax revenues. The recent Panama Papers Leak has only served to fuel the flame and has resulted in more people who know very little or nothing at all about offshore jurisdictions calling for their demise...

Unleashing the Power of the BVI Restricted Purposes Company
O'Neal Webster, November 2015

Modern day company law has largely moved away from the concept of “ultra vires” which sought to limit the ability of a company to enter into transactions outside its stated objects. The British Virgin Islands officially moved away from the concept in 2005 pursuant to provisions under the BVI Business Companies Act...

BVI Trade Mark Act, 2013
O'Neal Webster, November 2015

Known worldwide for its robust shipping registry, trusts, funds, and corporate law sectors, the British Virgin Islands is emerging as a globally competitive jurisdiction for registering and protecting intellectual property, thanks to the enactment of the highly anticipated Trade Mark Act, 2013. The Act, which clarifies, protects, and streamlines the trademark processes, institutes beneficial legal proceedings and conditions for the welfare of intellectual and industrial properties in the BVI...

Incubating Hedge Funds for the Future: A BVI perspective
O'Neal Webster, November 2015

To incubate is to keep something in a suitable environment for a term where it can develop to its full potential. Increasingly, the concept is being applied to hedge funds, where “to incubate” implies structured conditions for the development and verification of investment strategies over time. As such, an incubator fund is ideal for start-up and emerging managers who do not have much capital but aim to attract greater sums of capital in the near future...

Summary Guide to Property Holding in the British Virgin Islands
O'Neal Webster, March 2015

This guide provides general commentary and direction to prospective purchasers of property in the BVI. It is not a substitute for professional advice which will take account of individual specific circumstances, and should not be taken as legal advice. No responsibility can be accepted by O’Neal Webster for any loss occasioned by a person or organisation acting or refraining from acting on the basis of this information...

Legal update - BVI High Court reinforces rights of mortgagees exercising power of sale
O'Neal Webster, March 2015

On January, 22, 2015, in thematter of Betteto Frett v National Bank of the Virgin Islands[i](theBank), the BVIHigh Court reinforced the principle that injunctive relief would not be easilygranted against a bank validly exercising its power to sell real property usedas security for bank loans...

Financial Services Commission Relaxes Restrictions on Company Names
O'Neal Webster, February 2015

On 19 February 2015, the Financial Services Commission removed restrictions on the use of the following words in the names of BVI Business Companies – 1.“BVI”;2.“British Virgin Islands”;3.“Council”;4.“Ntl”;5.“Int”;6.“Intl”;7.“VI”; and 8.“Virgin Islands”...

IFLR1000 interviews new Partner, Christopher Simpson
O'Neal Webster, February 2015

IFLR 1000's Michael Washburn interviewed O’Neal Webster’s new Partner, Christopher Simpsonin relation to capital markets trends for an articlepublished on 11February, 2015. Click here to read the article.He noted, among other things, that recent legislation in the BVI, such as the approved managers regime, which Simpson describes as a“lighter-touch” regulation for managers desiring to oversee an investment fund or funds through a BVI entity, is an encouraging trend...

Overview of Trust Law & Trustee Services in the British Virgin Islands
O'Neal Webster, April 2014

In addition to being the world’s leading international finance centre in which to set up companies, the British Virgin Islands (‘BVI’) is now regarded as one of the world’s premier trust jurisdictions. The general principles of the trust laws of the BVI are derived from those of English trust law.  The principles of English common law and equity apply, as supplemented by BVI statute...

Significant Amendments to Vista and Other BVI Trust and Estate Legislation
O'Neal Webster, July 2013

We are pleased to advise that, with effect from 15 May 2013, some important changes were made to the Virgin Islands Special Trusts Act (VISTA), the Trustee Act and various other British Virgin Islands statutes relating to the trusts and estates. The main changes include the following:   1          Amendments to VISTA 1...

New BVI ‘Approved Manager’ Regulations for Hedge Funds
O'Neal Webster, January 2013

Earlier this year, I wrote an article entitled “Why you should choose the BVI for your next Fund.” Since then new regulations ushering in an “Approved Managers” regime have been published and as of December 10, 2012 are now in force. The effect of these new regulations is to make the BVI an attractive option for setting up as an investment manager...

Why You Should Choose the BVI for your Next Fund (First Published in the BVI International Finance Centre Newsletter - Asian Special Edition,Oct 2012)
O'Neal Webster, January 2013

It is estimated that there are more than 450,000 active companies incorporated in the British Virgin Islands (BVI) and that more than half of those companies are used in China, Hong Kong and other parts of Asia. While, traditionally, many of these companies have been used as asset holding vehicles, the robust Chinese economy has led to the increased use of BVI companies in China and Hong Kong as hedge funds and other types of investment vehicles. This is no surprise...

Guide to Incorporating Companies in the British Virgin Islands
O'Neal Webster, November 2012

The British Virgin Islands (“BVI”) is a British overseas territory situated to the east of Puerto Rico between the Caribbean Sea and the North Atlantic Ocean. The country consists of the main islands of Tortola, Virgin Gorda, Anegada, and Jost Van Dyke and over fifty other smaller islands and cays clustered around the aquamarine waters of the Sir Francis Drake Channel.Interestingly the country’s official name is simply the “Virgin Islands...

BVI- Best Domicile for Start Up Funds
O'Neal Webster, November 2012

If you a trader, financial analyst or other financial technocrat and are thinking of setting up a fund, then the British Virgins Islands is probably your best bet. In today’s financial environment, investor capital for a start up fund can be hard to come by...

Expanding the Scope of IP Applications in the BVI – the Proposed New Trademarks Legislation
O'Neal Webster, October 2012

The much anticipated Trade Marks Bill (“the Bill”) was recently circulated to the industry for comments. The Bill, which when enacted will be known as the Trade Marks Act, 2012, promises to introduce much needed change to the trademark industry in the British Virgin Islands and place the jurisdiction in line with other modern jurisdictions...

BVI Securities and Investment Business Act, 2010
O'Neal Webster, September 2010

The recently enacted Securities and Investment Business Act, 2010 (“SIBA”) of the British Virgin Islands (“BVI”) will come into effect on 17 May 2010...

 

 

WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

HOME | SITE MAP | GLANCE | PRIVACY POLICY | DISCLAIMER |  © World Services Group, 2020