BVI Finance Limited > The BVI Advantage

BVI’S TRACK RECORD OF ROBUST FINANCIAL LEGISLATION & INTERNATIONAL COOPERATION

2022

The Mutual Legal Assistance ( Tax) (Amendment) Act

The International Tax Authority (Amendment) Act, 2022

4th Round FATF Mutual Evaluations

20th Anniversary of International Finance Centre (IFC)

20th Anniversary of the BVI Financial Services Commission (FSC)

Business Companies Act (Revised)

AML/CFT Policy and AML/CFT (Revised)

2021

Publication of final BVI National Risk Assessment (NRA) Report

Enactment of Counter-Terrorism Act

2020

AML/CFT Policy and AML/CFT Strategy 2020 – 2022

BVI Business Companies Act (Revised)

Economic Substance Act (Companies and Limited Partnerships) (Revised)

Financial Services Agency Act (Revised)

2019

Regulatory Code (Amendment)

2018

International Tax Authority Act

BVI National Risk Assessment Report (NRA) Progress Report

2017

International Tax Authority Act - Created a body that ensures compliance with requests by international partners for tax-related information

BVI joins the Inclusive Framework for the OECD’s Base Erosion & Profiting Shifting (BEPS) project

Secure Search (Beneficial Ownership) System Act - Legislation to accompany the creation of the Beneficial Ownership Secure Search System (BOSSs)

Proposed Limited Partnership Act - To update The Partnership Act and the BVI’s limited partnership regime Limited Partnership Act 2017

2016

Financial Services Appeal Board ActSecurities & Investment Business (AIFMD) Regulations

BVI - Isle of Man TIEA agreement signed

BVI implements the 0ECD’s Common Reporting Standard

2015

Securities & Investment Business (Incubator & Approved Funds) Regulations

Anti-money Laundering (Amendment) RegulationsAnti-money Laundering & Terrorist Financing Code of Practice

BVI signs FACTA Intergovernmental Agreement

BVI rated ‘largely compliant’ for its approach to tax transparency and exchange of information within OECD Global Forum Peer Review Report

2014

BVI commits to the OECD’s Multilateral Convention on Mutual Assistance in Tax Matters

BVI - South Korea TIEA agreement signed
BVI - Japan TIEA agreement signed
UK extends the Multilateral Convention in Mutual Assistance on Tax Matters to the BVI

Investment Business (Registers) Regulations

2013

BVI joins OECD Anti-Bribery Convention
Computer Misuse & Cybercrime Act

Arbitration Act
Investment Business (Approved Managers) (Amendment) Regulations
BVI Business Companies (Restricted Company Names) Notice

BVI - Guernsey TIEA agreement signed
BVI - Poland TIEA agreement signed
BVI - Canada TIEA agreement signed

2012

Investment Business (Approved Managers) Regulations
BVI Business Companies Regulations
Business Companies (Amendment) Act

BVI - Isle of Man TIEA agreement signed

BVI opts into ‘automatic exchange’ option of the
European Union Savings Tax Directive

2011

BVI - Czech Republic TIEA agreement signed
BVI - India TIEA agreement signed

BVI Business Companies (Restricted Company Names) Notice

2010

Securities & Investment Business Act
Mutual Funds Regulations
Securities & Investment Business (Recognised Jurisdictions) Notice

BVI - Germany TIEA agreement signed
BVI - Portugal TIEA agreement signed

IMF Review of BVI’s financial regulatory policies and financial stability

2009

Proliferation Financing (Prohibition) Act

Independent Review of British Offshore Financial Centres commissioned by the Chancellor of the Exchequer highlights BVI’s progress in meeting international tax transparency standards
BVI recognised as a jurisdiction that had ‘substantially implemented’ OECD’s internationally agreed tax standard

BVI - China (People’s Rep.) TIEA agreement signed 14 other TIEA agreements signed in 2009

Financial Services (Prudential & Statistical Returns) Order
Financial Services (Recognised Custodians) Order
Financing & Money Services Act - provided licencing, registration & supervision for those in financing and money services businesses

2008