The Economic Substance (Companies and Limited Partnerships) Act, as amended (the "ESA"), requires BVI legal entities which engage in relevant activities to maintain economic substance in the BVI. Our 'Overview of the British...more
The BVI Virtual Asset Service Providers Act (VASP Act) came into force on 1 February, providing clarity and certainty on the regulatory landscape for virtual asset services (VASPs) operating in or from within the BVI. ...more
2/20/2023
/ AML/CFT ,
Anti-Money Laundering ,
British Virgin Islands ,
BVI Business Companies ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
New Legislation ,
Recordkeeping Requirements ,
Terrorism Funding
The EU has announced it is has added the British Virgin Islands (BVI) to its list of non-cooperative jurisdictions for tax purposes. The BVI Government has since issued a statement highlighting that it has already introduced...more
The British Virgin Islands ("BVI") Data Protection Act, 2021 ("DPA") came into force on 9 July 2021. It was introduced so the BVI would have a data protection framework which is broadly similar to EU and UK standards. To...more
2/9/2023
/ BVI Business Companies ,
Data Breach ,
Data Integrity ,
Data Processors ,
Data Protection ,
Data Retention ,
Data Security ,
Disclosure Requirements ,
Enforcement ,
EU ,
General Data Protection Regulation (GDPR) ,
International Data Transfers ,
New Regulations ,
Personal Data ,
UK