Mar 2023
BVI Partner Robert J.D. Briant and Counsel Nicholas Kuria were pleased to contribute the BVI jurisdictional overview to the Chambers Global 2023 Introduction to Corporate & Finance including Investment Funds directory rankings.
The BVI as a Jurisdiction for Incorporation
The British Virgin Islands (BVI) is a popular and incredibly efficient jurisdiction in which to incorporate (and operate) a variety of business entities, including funds, multi-shareholder companies, joint venture companies and holding companies. Trusts and partnerships are also becoming increasingly prevalent in the jurisdiction.
Unlike other offshore jurisdictions, during its development as a financial centre the BVI looked to Delaware law for inspiration (in addition to English law), with the resulting International Business Companies Act and subsequent BVI Business Companies Act blending the best features of US and English corporate law. This approach has been particularly successful, with the BVI (i) leading all other offshore financial centres in the number of company incorporations, and (ii) becoming a major transactional jurisdiction.
In addition to the beneficial amalgam of US and English law (as well as the various advantages common to a number of offshore jurisdictions), the following factors also ensure the BVI maintains its position as an attractive jurisdiction for incorporations and corporate transactions.
Read more, and access the rankings, here.