Forbes Hare Expands its Corporate and Investment Funds Practice with New Partner Hire Forbes Hare is delighted to announce that Patrick Colegrave (https://forbeshare.com/team/patrick-colegrave/) has joined the firm. Patrick will be a partner in the Corporate and Investment Funds team, based in Forbes Hare’s London office. Patrick has over twenty years’ experience, having previously worked at…
LEGAL GUIDE: Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA) ________________________________________________________________________________________________ 1. Background The Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA) was enacted in the British Virgin Islands on 31 December 2018. Its purpose is to fulfil the BVI’s commitment to ensuring the highest standards of tax governance and to ensure that…
LEGAL GUIDE: Economic Substance (Companies and Limited Partnerships) Act, 2018 ______________________________________________________________________________________________ 1. Background The Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA) was enacted in the British Virgin Islands on 31 December 2018. Its purpose is to fulfil the BVI’s commitment to ensuring the highest standards of tax governance and to ensure that the…
LEGAL GUIDE: International Tax Co-Operation (Economic Substance) Law, 2018 (ESL) ______________________________________________________________________________________________ 1. Background The International Tax Co-Operation (Economic Substance) Law, 2018 (ESL) was enacted in the Cayman Islands on 21 December 2018. Its purpose is to fulfil the Cayman Islands’ commitment to ensuring the highest standards of tax governance and to ensure that the Cayman…
LEGAL GUIDE: Ley de Sustancia Económica (Compañías y Sociedades Comanditarias) de 2018 ______________________________________________________________________________________________ 1. Antecedentes La Ley de Sustancia Económica (Compañías y Sociedades Comanditarias) de 2018 (LSE) fue promulgada en las Islas Vírgenes Británicas el 31 de diciembre de 2018. Su propósito es asegurar la existencia de los mejores estándares de gestión y control de…
LEGAL GUIDE: Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA) ______________________________________________________________________________________________ 1. Background The Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA) was enacted in the British Virgin Islands on 31 December 2018. Its purpose is to fulfil the BVI’s commitment to ensuring the highest standards of tax governance and to ensure that…
Client Alert Requirement to file registers of directors – further urgent alert As discussed in our Client Alert circulated in February 2016, the BVI Business Companies Act as amended by virtue of the BVI Business Companies (Amendment) Act 2015 and the BVI Business Companies (Amendment Act) 2016 required the filing of registers of directors of…
British Virgin Islands Cayman Islands Nevis London New Zealand Singapore Guide to British Virgin Islands Segregated Portfolio Companies This guide provides an introduction to British Virgin Islands (the “BVI”) Segregated Portfolio Companies which are formed under the BVI Business Companies Act, 2004 (the “Act”), as amended by the BVI Business Companies (Amendment) Act, 2018, the…
Background – Old Act Under the old Partnership Act 1996 of the British Virgin Islands (“Old Act”) limited partnerships were not a separate legal entity from their partners. Partnership under the Old Act is defined as the relation which subsists between persons carrying on business in common with a view to a profit. In other…