Regulatory & Risk Advisory : Advisory

18 May 2023

Update on CIMA regulatory measures

After industry consultation and feedback process in 2022, the following updated regulatory ...

21 April 2023

EU Crypto Regulation - MiCA and TFR adopted

On 20 April 2023, the European Parliament adopted the Markets in Crypto Assets Regulation ("MiCA") a...

12 April 2023

BVI update to the Economic Substance rules

The Economic Substance (Companies and Limited Partnerships) Act, as amended (the "ESA"), requir...

17 February 2023

Virtual asset services in the British Virgin Islands

The BVI Virtual Asset Service Providers Act (VASP Act) came into force on 1 February, providing clar...

15 February 2023

The British Virgin Islands and the EU List of Non-Cooperative Tax Jurisdictions

The EU has announced it is has added the British Virgin Islands (BVI) to its list of non-cooperative...

08 February 2023

Data Protection in the British Virgin Islands

The British Virgin Islands ("BVI") Data Protection Act, 2021 ("DPA") came into force on 9 July 2021....

05 December 2022

EBA Publishes Guidelines on Remote Customer Onboarding

Executive SummaryOn the 22 November 2022, the European Banking Authority (“EBA”) published its f...

18 October 2022

BVI Beneficial Ownership - Economic Substance Reporting Regime

The Beneficial Ownership Secure Search System (Amendment) (No.2) Act, 2021 (“Amendment Act”) was...

18 October 2022

BVI ITA and Ministry of Finance requires entities to establish and maintain adequate systems and controls including a compliance manual

The following BVI legislative supplements to the Mutual Legal Assistance (Tax Matters) Act (“MLA A...

17 October 2022

Jersey Withdraws Covid-19 Economic Substance and Corporate Tax Residency Concession

IntroductionThe States of Jersey’s Comptroller of Revenue is withdrawing the temporary concession ...