Unravelling
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Unravelling Complexity

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Proposed expansion of the Cayman Islands beneficial ownership regime

Proposed expansion of the Cayman Islands beneficial ownership regime

The Cayman Islands introduced the beneficial ownership regime in 2017. Following two years of implementation an internal review was conducted to assess the effectiveness and compliance of the regime. The review identified certain areas that require improvement and the Cayman Islands government has addressed these in the recently published Bill to amend the beneficial ownership regime.
The Cayman Islands Economic Substance regime – further developments
Economic Substance in the Cayman Islands

The Cayman Islands Economic Substance regime – further developments

The Cayman Islands government recently published a Bill to supplement the economic substance law. The contents of the Bill reflect feedback received from the EU Commission and the FHTP Secretariat.
SOS Substance on Substance: Episode fifteen – Our final thoughts
Economic Substance in the BVI

SOS Substance on Substance: Episode fifteen – Our final thoughts

In the fifteenth and final episode of Harneys’ Substance on Substance series for 2019, Philip Graham and Joshua Mangeot (plus special guest George Weston) examine the journey of economic substance in the BVI to date, from the inception of the Act to the final ITA Rules and discuss how BVI entities are coming to terms with these developments.
Overview of tax information exchange in the British Virgin Islands
Regulatory and Tax

Overview of tax information exchange in the British Virgin Islands

The system of tax information exchange in the British Virgin Islands is largely modelled on international principles developed by the Organisation for Economic Co-operation and Development. The competent authority responsible for dealing with tax information exchange in the BVI is the International Tax Authority.
The BVI approved manager – a tailored solution for start-up managers
Investment Funds

The BVI approved manager – a tailored solution for start-up managers

Harneys Paul Waldron contributed an article on the BVI approved manager product in hedgeweek’s British Virgin Islands Special Report 2019. The BVI approved manager product, is a popular choice with start-up and emerging managers all over the world and was introduced as an alternative to the full investment management licence available under the BVI Securities and Investment Business Act, 2010. The approved manager has a number of key attractions and advantages which have been summarised in this article.
Lexology Getting The Deal Through: BVI Complex Commercial Litigation
Litigation, Insolvency and Restructuring

Lexology Getting The Deal Through: BVI Complex Commercial Litigation

Harneys gives an overview of complex commercial litigation in the British Virgin Islands in the latest chapter of Lexology Getting The Deal Through: Complex Commercial Litigation. In the BVI, litigation remains the most popular method of resolving high-value, complex disputes. There is a dedicated Commercial Division of the High Court specifically designed to deal with such cases. As one of the world’s largest centres for the incorporation of companies, BVI courts are often relied upon where relief is sought in relation to the ownership, administration or management of any company registered in the BVI or where there is a dispute concerning the assets held or controlled by those companies.