Jordans Trust Company blog

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Entries with tag bvi .

Seychelles: Reserve directors can protect single person companies

23 Nov 2016
The new International Business Companies Act, 2016 (the “ 2016 Act ”) will, when it comes into force on 1 December 2016, introduce the concept of reserve directors in Seychelles. The use of reserve directors has been prevalent in the BVI as part of succession planning since they were introduced in the BVI Business Companies Act, 2004. Where a Seychelles IBC has only... Read More AboutSeychelles: Reserve directors can protect single person companies »

By Philip Jacques

The impact of the BVI Business Companies (Amendment) Act, 2015

14 Dec 2015
The BVI Business Companies (Amendment) Act, 2015 (the “Amending Act”), which was Gazetted on 12 November 2015, will amend the BVI Business Companies Act, 2004. The Amendment Act is expected to come into force in the next few months. Our summary of the key changes can be found here . The object of the Amending Act is to address specific matters as part of the continuing process of reform... Read More AboutThe impact of the BVI Business Companies (Amendment) Act, 2015 »

By Philip Jacques

BVI: the Business Companies (Amendment) Regulations, 2015

13 Nov 2015
The BVI Business Companies Regulations, 2012 (the “ 2012 Regulations ”) made some changes to the BVI company law regime in relation to such things as the use of company names and liquidation procedures. The Business Companies (Amendment) Regulations, 2015 (the “ 2015 Regulations ”) have recently been Gazetted and amend the 2012 Regulations in a few areas. 1. Certificates of... Read More AboutBVI: the Business Companies (Amendment) Regulations, 2015 »

By Philip Jacques

BVI Companies and Succession Planning

12 May 2015
BVI companies have been very popular since the mid-1980’s, and are well-known for their ease of administration but one area which can prove costly and cumbersome is what happens when a shareholder dies. With many beneficial owners reaching advanced years it is certainly worth considering what will happen to a shareholder’s assets on his death. Grant of Probate / Letters of... Read More AboutBVI Companies and Succession Planning »

By Amy Roost

I no longer need my BVI company: Strike Off or Liquidation

25 Mar 2015
I no longer need my BVI company: Strike Off or Liquidation?   BVI companies are often transactional, and there comes a point in time when the com¬pany is not needed any more.    When you no longer require your BVI company you have two options:    1. The company can be left to be struck off – strike off is automatic and free of charge. The... Read More AboutI no longer need my BVI company: Strike Off or Liquidation »

By Amy Roost

BVI - Licence fees, penalties and strike off – timeline

06 Mar 2015
As we raise our 2015 annual invoices, I thought it would be timely to briefly remind you how the licence fee system works in the BVI. Licence fees in the BVI are payable on a calendar year basis. The due date for these licence fees is determined by the date of incorporation of the company as follows:  Licence fees for companies incorporated January to June are due... Read More AboutBVI - Licence fees, penalties and strike off – timeline »

By Amy Roost

Five reasons to use VISTA Trusts

13 Feb 2015
A trust is based on the separation of the legal ownership of trust assets (which is left with the trustees) with the beneficial or equitable ownership (which remains with the beneficiaries).  The general administration of the trust is conducted by the trustee and not the settlor or the beneficiaries. The main characteristic of a VISTA trust is that the general administration... Read More AboutFive reasons to use VISTA Trusts »

By Carolina Lacerda

BVI Registry issues certificates of good standing electronically

16 Dec 2014
In response to pressures for speed and efficiency the BVI Registry of Corporate Affairs has announced that it will be issuing certificates of good standing electronically, effective 8 December 2014. PDF Certificates will generally be available on a same business day basis (BVI time). For the remainder of December and January 2015 clients will receive both electronic and hard copy... Read More AboutBVI Registry issues certificates of good standing electronically »

By Amy Roost

Succession planning in British Virgin Islands: the use of reserve directors

24 Oct 2014
The concept of reserve directors is extremely useful when considering succession planning in the BVI. The legislation of the BVI allows for a single person company to be incorporated. That is, one individual (the “Investor”) can be both the sole director and the sole member of a company. While this flexibility is very helpful for the running and administration of the company, it can... Read More AboutSuccession planning in British Virgin Islands: the use of reserve directors »

By Philip Jacques

Does the “Foreign Account Tax Compliant Act” affect you?

13 Oct 2014
How FATCA applies to UK, BVI, Cyprus and Seychelles companies and trusts. Read More AboutDoes the “Foreign Account Tax Compliant Act” affect you? »

By Philip Jacques
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