Demonstrating its commitment to ensuring that its financial services industry is aligned with international best practices, the BVI Business Companies (Amendment) Act, 2024 which makes various amendments to the BVI Business Companies Act (as revised), was published in the BVI Gazette on 26 September 2024.
The Beneficial Ownership Transparency Act, 2023 and the Beneficial Ownership Transparency Regulations, 2024 were brought into force on 31 July 2024, with enforcement relating to the new requirements under the Act commencing on 1 January 2025.
Andrew Pullinger and Lisa Yun discuss the recent judgment of Tianrui (International) Holding Company Ltd (Appellant) v China Shanshui Cement Group Ltd (Respondent).
This decision will be of interest to private equity and other stakeholders familiar with the widely-used Cayman ELP structure.
This brief advisory highlights the latest Amendment to the Cayman Islands trust and estate planning sector, which abolishes the mandatory perpetuity period of 150 years for Cayman law ordinary trusts.
Our Hong Kong office has acted as the Cayman Islands legal counsel of Zhong Ou Dynamic Fixed Income Fund SP I in connection with the listing of its Class A Shares on the Cayman Islands Stock Exchange.
This advisory discusses the Court of Appeal’s judgment, which is of considerable importance to the Cayman Islands’ investment regime, in which ELPs are common structures, particularly for private equity funds.
Every BVI company is required to file with its registered agent an annual financial return within 9 months of either the company’s calendar year or, if the company’s financial year is not a calendar year, the company’s financial year.
The Cayman Islands courts have recently delivered four judgments concerning the law and practice of international arbitration, which is a growing feature of the offshore legal landscape.
On 23 May 2024, The Honourable Justice Parker, in Ascentra Holdings, Inc. (in Official Liquidation) v Ryunosuke Yoshida & Ors) (FSD 300 of 2023), granted an on-notice interim proprietary injunction in favour of the plaintiff company, Ascentra Holdings Inc. (in Official Liquidation), acting by its Joint Official Liquidators, in respect of funds held in various bank accounts in Singapore, Taiwan and the United States.