BVI offshore company formation
by British Virgin Islands Financial Service Commission licensed agent.

August 12, 2008. BVI company China Natural Resources entered into an agreement with Feishang Group Limited, from which the BVI company had acquired the Coal Group with its wholly-owned subsidiaries, for the total price of US$25 mln. By terms of the agreement, China Natural Resources acquires from the Feishang Group all of the issued and outstanding capital stock of Newhold Investments Limited and its wholly-owned subsidiaries, and the outstanding indebtedness of the Coal Group to the Feishang Group. The agreement was signed on August 11, 2008, its closing date is expected in February 2009.

The purchased company Newhold Investments, through its 70% owned operating subsidiary Guizhou Yongfu Mining Co., Ltd, owns mining rights to Yongsheng Coal Mine in Guizhou Province of PRC. Purchase price for Newhold's shares and indebtedness is US$42,000,000, subject to adjustment.

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August 4, 2008. BVI corporation Yucheng Technologies Limited providing IT solutions and services to the Chinese banking industry announced a significant call center expansion project for the China Construction Bank - one of the top four commercial banks in China and the largest credit card issuer among the Chinese banks. As a result of the expansion, total number of call center seats of the Bank will be increased from 3,000 at the end of the year 2007 to 7,500. This will serve rapidly-growing credit card and retail banking customers.

Total value of BVI company's contract with the China Construction Bank is more than US$13.7 million. The main part of the solution and implementation services associated with this call center expansion project will be recognized in the third quarter of the year.

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July 25, 2008. BVI FSC issued Advisory Warning under Section 4 (1)(1) of the Financial Services Commission Act, 2001, concerning NewNetQuest as a potential pyramid scheme targeting BVI residents. Members of the public are advised to exercise extreme caution dealing with NewNetQuest and other similar schemes, and are also invited to provide the Commission with any information on questionable entities operating in or from within the BVI.

BVI FSC informed that pyramid schemes may seem to be legitimate investment opportunities. The Commission made the public aware that it does not regulate such schemes, and has not authorised or endorsed NewNetQuest.

The advisory warning issued by the BVI FSC and signed by Robert A. Mathavious, Managing Director/CEO of the Commission, became the second on this year.

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July 18, 2008. A-Power Energy Generation Systems Ltd, power systems firm registered in the British Virgin Islands, signed an agreement according to which it will build a wind turbine production facility with the Chinese government of Bayan Nur (Inner Mongolia). It is expected that the cost of the 290 000 square foot plant will make around USD 20 million, and the project is planned to be completed in July 2009. The new plant will have wind turbines of 2.5 MW and 750 kW capacity.

A-Power Chief Executive Jinxiang Lu commented: "The 800 MW annual wind turbine production capacity at this new Inner Mongolia facility combined with over 1 000 MW from the first phase of our Shenyang production facility will give A-Power an annual wind turbine production capacity of over 1 800 MW by the end of 2009?.

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July 10, 2008. BVI corporation Euro Tech Holdings Company Limited announced that its subsidiary, Yixing PACT Environmental Technology Company Limited, has been awarded a contract with an international engineering company. The contract for a Guinea alumina project, worth US$1.4 million, covers design, supply, installation and commissioning of a sewage treatment plant in Guinea.

Yixing PACT Environmental Technology Company, a global provider of environmental solutions for industrial and municipal clients, has big prospects to get further contracts from this Guinea alumina project.

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June 25, 2008. The largest offshore law firm in the British Virgin Islands, Harney Westwood & Riegels, merges with the Cayman-based firm C.S. Gill & Co. The office of the merged firm will open on September 1 in George Town, Grand Cayman. Kieron O'Rourke, the head of investment funds sector of the BVI firm, and fellow partner Tim Clipstone will relocate to Cayman from Harney's BVI office. They will head the cross-border commercial transactions of the merged firm, focusing on hedge funds and private equity, structured finance, asset and project finance and insolvency.

Harneys has been the leading law firm in the BVI for the past 40 years. It has a network of offices in the Caribbean region, in Europe and Asia, which provides law firms, financial institutions and corporations with BVI, Anguilla and now Cayman law-related legal services.

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June 20, 2008. BVI Financial Services Commission published two press releases with information on the changes of senior management - the completion of two five-year employee contracts with the BVI FSC, and the announcement of new appointments to Senior Management posts. Press release published on June 12, 2008 announced that Michael Oliver and Christopher Hill demitted the office during this month. Mr. Oliver has served as director of insurance industry in BVI since 2003. Mr. Hill was recruited as the BVI's first director of Insolvency Services, having the specific task of setting up the FSC's insolvency regime and implementing the provisions of Insolvency Act, 2003.

On June 19, 2008 the Commission announced new appointments. Mr. David Abednego was named as the new Acting Director of Insolvency services, who will lead the Commission's Insolvency Services Division and serve as Territory's Official Receiver. Mr. Elton Lettsome became the Acting Director of Insurance sector. Prior to this appointment, he served as an Assistant Regulator representing the Commission at international insurance seminars, conferences and workshops.

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June 9, 2008. The BVI Financial Services Commission has published Advisory Warning concerning the FATF Public Statement on money laundering and terrorist financing risks, issued by the Financial Action Task Force (FATF) on 28 February, 2008. In relation to the public statement by FATF on money laundering and countering terrorism financing, the BVI FSC advises the public and all the persons required to comply with the requirements of the Anti-money Laundering Regulations, 2008 and the Anti-money Laundering and Terrorist Financing Code of Practice, 2008, to note the concerns expressed by FATF, and consider the risks that could arise when dealing with customers or transactions involving any of the jurisdictions named in the FATF document.

In its statement, the international organization noted the deficiencies in the regimes of anti-money laundering and countering terrorism financing (AML/CFT) in Uzbekistan, Iran, Pakistan, Turkmenistan, Sao Tome and Principe and the northern part of Cyprus. The FATF expressed concern about the risks remaining in all of these countries, but also noted progress in adopting AML/CFT legislation and improving AML/CFT regime in most of these countries.

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May 24, 2008. British Virgin Islands company Starbay Holdings Ltd. obtained an investment license to start up the Dai Beach Resort project in Phu Quoc district (Vietnam) more than US$1.6 billion worth. The license was issued by the Kien Giang People's Committee at the international conference devoted to tourist real-estate investment opportunities. The project that will be commenced by Starbay Holdings will include hotels, rest-homes, golf course, villas, department stores and other services.

A construction site will be located on 540ha area of Dai beach, Ganh Dau commune in Phu Quoc. Mr Martin H.Kaye, General Director of Starbay Holdings Ltd., said that it took the BVI company four years to receive the license. The project is expected to be completed in five phases until 2020.

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May 9, 2008. The Committee of Public Accounts of the House of Commons issued a report on Financial Services Regulation in BVI and other overseas territories of the United Kingdom, undertaken by the Foreign and Commonwealth Office. The report came as a result of an inquiry into offshore centres made by the Common Treasury Committee, to decide whether the territories have contributed to international financial instability.

Among 14 overseas territories in the UK, seven have offshore financial centres, which vary in their size and significance to their economies. Major financial operations are made in the BVI, Bermuda and Cayman Islands. It was noted in the report that regulators in Bermuda, the Cayman Islands and the British Virgin Islands, which have the ability to levy fees on their rapidly developing financial sectors, achieved major capacity improvements since 2000.

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April 20, 2008. Transmeridian Exploration Inc. announced the termination of Merger Agreement with British Virgin Islands-registered Trans Meridian International Inc. (TMI). The company entered into a definitive merger agreement with TMI (BVI) pursuant to which the BVI company had to purchase all of company's outstanding shares of common stock, in a deal valued at $825 million. In order to complete the proposed financing arrangements, detailed information was required to be provided by Transmeridian Exploration Inc. until March 21, 2008.

The BVI corporation said it is unable to meet the financing deadline for the offer, and after termination of the deal Transmeridian will continue to seek proposals on the acquisition of the company from other interested parties.

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April 4, 2008. A delegation from the BVI FSC and territory's autonomous financial regulatory agency made a visit to Qatar in April 2 and 3. This was the first visit of a BVI group to the Gulf region, during which they met Qatar Financial Centre Authority, QFC Regulatory Authority and Qatar Financial Centre to talk on BVI's regulations, private wealth management and corporate activities. The BVI delegation led by Robert Mathavious, managing director and CEO of BVI FSC, and Lorna Smith, executive director of International Finance Centre, met with QFC director-general Stuart Pearce and a senior executive of QIA, and held a seminar on 'Opportunities for Growth in Financial Services' in BVI.

As part of fact-finding mission to the Gulf, a delegation of Government and private sector officials from the BVI visited Dubai on March 30 - April 1. The focus of discussion during the BVI Seminar which was held on 31 March 2008 at the Burj Al Arab was corporate and investment business, trusts and estate planning.

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March 26, 2008. BVI Financial Services Commission has published the Quarterly Statistical Bulletin which includes information, statistics and analysis of financial services activities in the year 2007. By the estimation of BVI FSC, in 2007 the record amount of 77,022 companies was incorporated in the jurisdiction. Of 851,595 companies registered in BVI by the end of last year, 404,321 had the status of active company. There were 53,988 dissolutions registered in the BVI.

In 2007, there were 18% more BVI companies registered as compared with 2006. BVI company formation statistics of previous year shows 12% year-to-year increase.

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March 14, 2008. Harneys Corporate Services Limited, the largest provider of administration services to the BVI Business Companies, has announced the launch of a new Share Trust service in BVI. The new Share Trust service means automatic succession to the shares of the BVI Business Company and appointment of replacement directors in the event of shareholder's death or early incapacity. It has a purpose to enable a simple, modern and cost-saving solution to succession planning involving shares in the BVI Business Companies.

Zac Lucas, senior associate of Harneys Corporate Services Ltd, commented the launch of the new service for BVI Business Companies, "Succession planning involving shares in a BVI Business Company was usually a complex and costly affair, involving lengthy legal documents and significant delays. The Share Trust was specifically designed to remedy these problems."

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February 25, 2008. BVI Financial Services Commission supplemented Anti-Money Laundering Legislation by 3 new documents which were gazetted on February 22, 2008. The first document published is Anti-Money Laundering and Terrorist Financing Code of Practice, 2008, covering general duties of Financial Investigation Agency and the Financial Services Commission, information on establishing internal control systems, requirements on customer due diligence, general verification, verification of legal person, requirement for certified documentation, etc.

Non-Financial Business (designation) notice, 2008 clarifies that any person engaged in the business of buying and selling high-valued goods and accepting/making cash payments in the amount more than $15,000, or equivalent in another currency, "is designated as an entity vulnerable to activities of money laundering and terrorist financing, and shall comply with the requirements of the above-named Code of Practice."

Anti-Money Laundering Regulations, 2008 include identification procedures in relation to new and continuing business relationships, exceptions to identification procedures, maintaining record of transactions and reports, maintaining register of money laundering reports and inquiries, duty to appoint Money Laundering Reporting Officer, etc.

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February 18, 2008. BVI company A-Power Energy Generation Systems Ltd. announced that it has entered into an agreement to acquire Liaoning International Construction & Engineering Group (LICEG). The Group was incorporated in 1993, under the Construction Commission of the Liaoning Province, and is one of China's leading construction and engineering companies.

A-Power is the owner of Class-B construction license, and Liaoning International Group has Class-A license that permits it to undertake international power and infrastructure projects, and construct various power systems, energy and infrastructure projects of any size in the country. LICEG has completed a large number of projects in China, in Africa, Eastern Europe and in the Asian Pacific region.

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February 4, 2008. The Insurance Act 2008 was passed at the Sixth Sitting of the First House of Assembly. The new Act replaced the Insurance Act of 1994, developed and enhanced its framework to achieve full compliance with insurance supervisors. The Insurance Act 2008 will have the purpose of positioning the insurance industry in the BVI territory in order to meet international insurance standards.

It was commented by Premier Ralph O'Neal that the new Bill will reform the legal and regulatory regime on the licensing, administration and supervision of insurance businesses in the BVI territory, and reforms of the regime relating to insurance managers, intermediaries and loss adjustors. The Financial Services Commission (FSC) is to ensure that businesses are in compliance with the new Act.

Prior to being passed, the new Insurance Act was endorsed from both the Government's side and the Opposition during the debate. In the opinion of Deputy Speaker Keith Flax who also endorsed the bill the new Act has tightened a lot of loopholes that existed in the previous act .

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January 24, 2008. Premier Honourable Ralph T. O'Neal took official participation in the 46th Meeting of the Organisation of Eastern Caribbean States (OECS) which was held on January 16-18 in the Commonwealth of Dominica. The BVI delegation consisted of 3 members including Permanent Secretary in the Premier's Office, Director of Communications, and Assistant Secretary for External Affairs.

During his interview given after the meeting to the Department of Information, the Premier specially pointed out that due to the OECS's initiatives BVI had been able to participate in the schemes and projects concerning the environment protection. He said that the received benefits and participation in a range of sub-regional programs of OECS are especially important because of the fact that the Territory is not a full member of the organisation.

The BVI received the status of an associate member of the OECS on November 22, 1984.

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January 16, 2008. BVI Financial Services Commission published BVI Business Companies (Amendment of Schedules) Order, 2007, which made amendments in Schedule 2 and Schedule 3 of the BVI Business Companies Act, 2004, which postponed CapCo (BVI Companies Act Company which has not been continued under the International Business Companies Act) re-registration deadline for 1 year more.

Automatic re-registration means that on January 1, 2009, all CapCos that have not been voluntarily re-registered will be automatically re-registered in the status of BVI Business Companies. Re-registration of another former type of BVI company - IBC - was completed a year ago.

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January 10, 2008. During the First Session of the 1st House of Assembly the Register of Interests (Amendment) Act was passed. Before the Bill was adopted, it went through the second and third readings, and through the discussion during the committee stage, and now it is expected to come into effect in the shortest time. Speaking in the House of Assembly, Premier Ralph O'Neal noted the importance of the Bill for people to know that their representatives are not afraid to disclose their interests.

A Bill with a similar name was introduced to the House of Assembly and had its first reading in 1994. Most of the House representatives expressed their support of the Bill.

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April 9, 2008. BVI Financial Services Commission published the 'Guidance Notes on Revocation or Cancellation including Solvent Liquidation.' The new document provides a framework for voluntary revocation and cancellation of licences and certificates of regulated persons, and the approval of solvent liquidation procedures. All the future deals concerned with these matters will be dealt in accordance with this document.

The Notes were published under the Mutual Funds Act, 1996, under the Financial Services Commission Act, 2001, and under the BVI Business Companies Act, 2004. The document was approved by the Board of Commissioners on April 1, 2008, under the signature of Kenneth Baker, Deputy Managing Director of the BVI Financial Services Commission, and published on April 8, 2008.

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Our latest offshore news
30/09/2006
Welcome to join our discussions
on Offshore Companies, Incorporations,
Jurisdictions, etc..
12/08/2008
BVI-registered China Natural Resources entered into an agreement with Feishang Group Limited, from which the BVI company had acquired the Coal Group with its wholly-owned subsidiaries, and the outstanding indebtedness of the Coal Group to the Feishang Group, for the total price of US$25 mln. The agreement was signed on August 11, 2008.
04/08/2008
BVI corporation Yucheng Technologies Limited engaged in providing IT solutions and services to the Chinese banking industry, announced a significant call center expansion project for the China Construction Bank, - one of the top four commercial banks in China. Total number of call center seats of the China Construction Bank will increase from 3,000 at the end of the year 2007 to 7,500.
25/07/2008
BVI FSC issued Advisory Warning under Section 4 (1)(1) of the Financial Services Commission Act, 2001, concerning NewNetQuest as a potential pyramid scheme targeting BVI residents. Members of the public are advised to exercise extreme caution dealing with NewNetQuest and other similar schemes, and are also invited to provide the Commission with any information on questionable entities operating in or from within the BVI.
18/07/2008
A-Power Energy Generation Systems Ltd, power systems firm registered in the British Virgin Islands, signed an agreement according to which it will build a wind turbine production plant with the Chinese government of Bayan Nur (Inner Mongolia). The project is planned to be completed in July 2009. The new plant will have wind turbines of 2.5 MW and 750 kW capacity.
10/07/2008
BVI corporation Euro Tech Holdings Company Limited announced that its subsidiary, Yixing PACT Environmental Technology Company Limited, has been awarded a contract with an international engineering company. The contract for a Guinea alumina project, worth US$1.4 million, covers design, supply, installation and commissioning of a sewage treatment plant in Guinea.
25/06/2008
The largest offshore law firm in BVI Harney Westwood & Riegels, announced the merger with C.S. Gill & Co, a firm based in the Cayman Islands. The office of the merged firm is expected to be opened on September 1 in George Town, Grand Cayman. Kieron O'Rourke, the head of investment funds sector of the BVI firm, and fellow partner Tim Clipstone will relocate to Cayman from Harney's BVI office.
20/06/2008
BVI Financial Services Commission published two press releases which included information on senior management changes - the completion of two five-year employee contracts with the Commission, and new appointments to Senior Management posts.
09/06/2008
Advisory Warning was published by the BVI Financial Services Commission, concerning the FATF Public Statement on money laundering and terrorist financing risks, issued by the Financial Action Task Force (FATF) on 28 February, 2008. In relation to the public statement by FATF, the BVI FSC advised the public to consider the risk that could arise when dealing with customers or transactions involving any of the jurisdictions named in the FATF document.
06/06/2008
The EU has revised a list of countries with satisfactory anti-money-laundering controls and excluded the Cayman Islands and the British Virgin Islands from the "white list".
26/05/2008
It has been recently revealed that CIMA was part of the CFATF team that evaluated the anti-money laundering and counter-terrorist financing regime of the BVI.
24/05/2008
British Virgin Islands company Starbay Holdings Ltd. obtained an investment license to start up the Dai Beach Resort project in Phu Quoc district (Vietnam) more than US$1.6 billion worth. The license was issued by the Kien Giang People's Committee at the international conference devoted to tourist real-estate investment opportunities.
09/05/2008
The Committee of Public Accounts of the House of Commons issued a report on Financial Services Regulation in BVI and other overseas territories of the UK, undertaken by the Foreign and Commonwealth Office. The report came as a result of an inquiry into offshore centres made by the Common Treasury Committee, to decide whether the territories have contributed to international financial instability.
20/04/2008
Transmeridian Exploration Inc. announced the termination of Merger Agreement with British Virgin Islands-registered Trans Meridian International Inc. (TMI). The $825 million deal between the companies began to fall apart two months ago when BVI corporation said it is unable to meet the financing deadline for the offer, which was set at March 21, 2008.
09/04/2008
BVI FSC presented the 'Guidance Notes on Revocation or Cancellation including Solvent Liquidation'. The document provides a framework for voluntary revocation and cancellation of licences and certificates of regulated persons, and the approval of solvent liquidation procedures.
04/04/2008
A delegation from the BVI FSC and territory's autonomous financial regulatory agency during its visit to Qatar met Qatar Financial Centre Authority, QFC Regulatory Authority and Qatar Financial Centre to talk on BVI's regulations, private wealth management and corporate activities. The delegation was led by Robert Mathavious, managing director and CEO of BVI FSC, and by Lorna Smith, executive director of International Finance Centre.
26/03/2008
BVI Financial Services Commission has published the Quarterly Statistical Bulletin with information, statistics and analysis of financial services activities in the year 2007. This year, the record amount of 77,022 new companies was registered in the British Virgin Islands.
14/03/2008
Harneys Corporate Services Limited, the largest provider of administration services to the BVI Business Companies, has announced the launch of a new Share Trust service in BVI. The main point of the Share Trust is automatic succession to the shares of the BVI Business Company and appointment of replacement directors in the event of shareholder's death or early incapacity.
25/02/2008
BVI FSC published 3 new documents related to Anti-Money Laundering legislation - Anti-Money Laundering and Terrorist Financing Code of Practice, 2008, Non-Financial Business (designation) notice, 2008, Anti-Money Laundering Regulations, 2008. All the documents were gazetted on February 22, 2008.
18/02/2008
BVI company A-Power Energy Generation Systems Ltd. announced that it has entered into an agreement to acquire Liaoning International Construction & Engineering Group (LICEG). The Group was incorporated in 1993, under the Construction Commission of the Liaoning Province, and is now one of China's leading construction and engineering companies.
04/02/2008
At the Sixth Sitting of the First House of Assembly the Insurance Act 2008 was passed, which replaced the Insurance Act of 1994. The new act developed and enhanced the framework of the previous act, and will have the purpose of positioning the insurance industry in the BVI territory in order to meet international insurance standards.
24/01/2008
Premier Ralph T. O'Neal officially participated in the 46th Meeting of the Organisation of Eastern Caribbean States (OECS) which was held on January 16-18 in the Commonwealth of Dominica. In his interview given after the meeting to the Department of Information, the Premier specially pointed out that due to the OECS's initiatives BVI participated in several schemes and projects concerning the environment protection.
16/01/2008
BVI Financial Services Commission published amendments to Schedule 2 and Schedule 3 of the BVI Business Companies Act, 2004, which postponed the deadline of re-registration of BVI Companies Act Companies for 1 year.
10/01/2008
The 1st House of Assembly held its First Session, during which the Amended Bill on Legislators' Transparency was passed. Premier Ralph T. O'Neal noted the importance of the Bill speaking in the House of Assembly.
11/12/2007
The BVI-incorporated company Sherwood Investments Overseas Ltd. has announced that it has offered to purchase music retailer Trans World Entertainment Corp. for USD 217 million.
19/11/2007
The UK Guardian has claimed that multinational banana companies are using tax haven jurisdictions such as the British Virgin Islands in order to avoid paying tax on their profits in the UK and in other developing countries.
07/11/2007
On October 24, 2007, unaudited interim results for 6 months ended June 30, 2007 were published by BVI-based Equator Exploration Ltd. Equator Exploration reported of some losses in the 1st half of 2007.
23/10/2007
A company operating in Hamburg, Beiersdorf Aktiengesellschaft has recently announced entering a share purchase agreement with a BVI-incorporated Global Source Investments Limited and Hong Kong-incorporated C-BONS Holding (International) Limited.
07/09/2007
In October, the BVI International Finance Centre will send a delegation to London in order to make a series of presentations. The presentations update executives dealing with in the trusts and corporate business sector on the the growth of the trusts and corporate business industries in the BVI.
28/08/2007
The Listing Committee of the Bermuda Stock Exchange (BSX) has announced approving the listing of the Common Shares of RenFin II Ltd, a British Virgin Islands incorporated fund.
09/08/2007
A memorandum of understanding has been signed between Jersey and the BVI. It was signed by the Jersey Financial Services Commission and the British Virgin Islands Financial Services Commission to enhance co-operation between the 2 regulatory bodies.
13/07/2007
Several amendments to the new Business Companies Act have been announced by the British Virgin Islands Financial Services Commission. The amendments will establish new, simplified provisions to carry out the transitioning of bearer share companies to non-bearer share companies.
20/06/2007
According to the data released by the Census & Statistics Department of Hong Kong, the BVI is one of the top destinations for Hong Kong's external factor income outflow and inflow in Quarter 1 of 2007.
12/06/2007
BVI Chief Minister Orlando Smith has presented his annual State of the Territory Address for 2007 to inform the public on the accomplishments of his government. He said that the GDP of the BVI by the end of 2007 will top the USD 1 billion mark.
20/05/2007
The State Administration of Industry and Commerce of China announced the leading offshore sources of foreign investment in China's economy. The BVI is the 1st out of 4 major offshore finance centers investing in China.
29/04/2007
The British Virgin Islands, with the investment amount of 700 million, was indicated among the FDI leaders in Malaysia.
17/04/2007
The Ministry of Commerce of China has released a statement for the 1st quarter of 2007, according to which the British Virgin Islands is 2nd leading investor in China.
21/03/2007
BVI Governor David Pearey announced re-appointment of Elton Georges to be the deputy governor of the territory. From April 1, Mr. Georges will replace Mrs. Dancia Penn, which was appointed as Deputy Governor of BVI in 2004.
09/03/2007
On February 28, 2007 the negotiations on the British Virgin Islands constitution were successfully concluded, after the 4th round of talks was held between delegations from the BVI and UK met in London on February 26-28.
21/02/2007
In January 2007, BVI-registered companies have invested 1.02 billion USD in China. So, the British Virgin Islands remains the 2nd in the list of countries that make investments in rapidly growing Chinese economy.
12/02/2007
International offshore expert firm Ogier has completed its merger with WSmiths in the British Virgin Islands. The merger gave the firm access to 3 further offshore jurisdictions. It became effective from February 1, 2007.
23/11/2006
Recently, the Ministry of Commerce of China has announced that realized FDI on the territory rose in October, after the slight decline within the previous months. This was the result of the changes in legislation regarding acquisition of Chinese companies by foreign investors. So, BVI is the 2nd largest foreign investor in China.
08/11/2006
The BVI Legislative Council has recently passed new legislative acts that amend the existing legislation. The BVI Legislative Council passed BVI Business Companies (Amendment) Act, 2006 on September 22, 2006.
11/10/2006
Offshore law firm Ogier has merged with WSmiths in the BVI. This gives Ogier access to 3 further offshore jurisdictions. The merger will come into effect from February 1, 2007.
27/06/2006
The BVI is experiencing an unprecedented economic growth. Orlando Smith, BVI Chief Minister, has recently in his speech summed up the successful economic development of the British Virgin Islands as well as provided his view into the country's future.