Practically Speaking: Episode seven - Establishing substance in the BVI

Our podcast series Practically Speaking was launched to provide our listeners with practical advice and insights on issues applicable to stakeholders of BVI entities.

In our seventh episode, Transactional Partner Rachel Graham and Director of Fiduciary & Custodial Kerry Graziola discuss how to establish substance for relevant in scope entities in the BVI, outlining:

  • The obligations facing both passive and active entities conducting holding business and how they differ.
  • De-mystifying the requirements for direction and management and how they might be managed practically in a COVID-19 world.
  • How the ITA has been responding to the current travel climate and its effects on obligations.
  • The obligations facing entities that are required to conduct core-income generating activities relating to the relevant business and how outsourcing certain roles and functions to professionals on the island might assist.
  • How the requirements for adequate premises and adequate employees in the BVI might be met by companies conducting the relevant activities of finance and leasing, fund management, and headquarters business.

Find out more about the ITA’s updates regarding compliance and reporting in response to the COVID-19 outbreak here.

Listen below. 


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Harneys produces a variety of podcasts, providing on-the-go legal analysis over the airways. Visit our Podcasts page to see them all.