Offshore: A Flexible Future
The new Business Companies Act is set to make radical changes to and enhance flexibility in the management of shares in the British Virgin Islands. William Tacon reports on moves to maintain the BVI's appeal to investors
The British Virgin Islands (BVI) Business Companies Act (BCA) 2004 has been enacted and until 1 January, 2007, will operate alongside the long-established International Business Companies (IBC) Act 1984, which lies at the heart of the development of the BVI as a leading offshore jurisdiction. From 2007, the BCA will replace the IBC, with companies incorporated under the latter legislation being ‘grandfathered’ into the BCA.
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