Practical considerations for blockchain businesses in the BVI
Setting up and running a business in the virtual assets sector is no easy feat, but selecting an appropriate jurisdiction for a blockchain project will inevitably save time and therefore cost. The British Virgin Islands (“BVI”) has emerged as a leading jurisdiction in this space, offering cryptocurrency trading vehicles, token issuers, virtual asset service providers and other types of blockchain businesses a cost-effective solution, with a reliable legal system, tax neutrality and a high level of confidentiality being added benefits.
Setting up and running a business in the virtual assets sector is no easy feat, but selecting an appropriate jurisdiction for a blockchain project will inevitably save time and therefore cost. The British Virgin Islands (“BVI”) has emerged as a leading jurisdiction in this space, offering cryptocurrency trading vehicles, token issuers, virtual asset service providers and other types of blockchain businesses a cost-effective solution, with a reliable legal system, tax neutrality and a high level of confidentiality being added benefits.
The outlook from offshore – recent developmentsand looking ahead
2023 was certainly a tumultuous and difficult year by any standard. Leaving aside geopolitical conflicts, high interest rates, rampant inflation, and slowing growth, the lingering effects of the COVID-19 pandemic and high-profile bankruptcies made their mark on many businesses. From an offshore point of view, 2023 saw significant reform of company legislation in the British Virgin Islands (“BVI”), as well as extensive efforts by regulators and other market participants in the BVI and the Cayman Islands to address perceived shortfalls in combating money laundering and tax evasion.
2023 was certainly a tumultuous and difficult year by any standard. Leaving aside geopolitical conflicts, high interest rates, rampant inflation, and slowing growth, the lingering effects of the COVID-19 pandemic and high-profile bankruptcies made their mark on many businesses. From an offshore point of view, 2023 saw significant reform of company legislation in the British Virgin Islands (“BVI”), as well as extensive efforts by regulators and other market participants in the BVI and the Cayman Islands to address perceived shortfalls in combating money laundering and tax evasion.
The Enforcement of Foreign Judgements and Arbitration Awards in the British Virgin Islands
In the British Virgin Islands, enforcing foreign judgments and arbitration awards involves nuanced legal frameworks and conditions. Discover how the BVI courts handle these complex international legal matters, from recognizing judgments under the Reciprocal Enforcement of Judgments Act 1922 to enforcing arbitration awards per the Arbitration Act 2013. Learn the intricacies and criteria that govern these processes, ensuring legal validity and adherence to public policy. Click for an insightful overview and expert guidance on navigating these challenging legal waters.
In the British Virgin Islands, enforcing foreign judgments and arbitration awards involves nuanced legal frameworks and conditions. Discover how the BVI courts handle these complex international legal matters, from recognizing judgments under the Reciprocal Enforcement of Judgments Act 1922 to enforcing arbitration awards per the Arbitration Act 2013. Learn the intricacies and criteria that govern these processes, ensuring legal validity and adherence to public policy. Click for an insightful overview and expert guidance on navigating these challenging legal waters.
Leveraging BVI Companies for a Greener Future: Green Financing Structures
In a world increasingly conscious of environmental sustainability, the use of BVI companies in green financing structures has emerged as a powerful force driving positive change. Green financing, designed to fund environmentally responsible projects and initiatives, has found a willing ally in the BVI's corporate landscape. This article explores how BVI companies are shaping a more sustainable future through innovative green financing structures.
In a world increasingly conscious of environmental sustainability, the use of BVI companies in green financing structures has emerged as a powerful force driving positive change. Green financing, designed to fund environmentally responsible projects and initiatives, has found a willing ally in the BVI's corporate landscape. This article explores how BVI companies are shaping a more sustainable future through innovative green financing structures.
British Virgin Islands: Access to Documents and Information
Clients often ask us how to obtain documents and information about BVI companies. They may need them for asset tracing purposes, to start proceedings, or to try and determine whether a BVI target entity is worth pursuing. There is far more information available about BVI companies than clients anticipate and most of it is relatively inexpensive to obtain. We regularly assist clients to obtain documents and information about BVI targets. Here is a summary of what is available.
Clients often ask us how to obtain documents and information about BVI companies. They may need them for asset tracing purposes, to start proceedings, or to try and determine whether a BVI target entity is worth pursuing. There is far more information available about BVI companies than clients anticipate and most of it is relatively inexpensive to obtain. We regularly assist clients to obtain documents and information about BVI targets. Here is a summary of what is available.
November 23, 2023
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