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A Comprehensive Guide to Obtaining an Investment Fund License in the British Virgin Islands
If you’re considering starting an investment fund in the British Virgin Islands (BVI), you’re tapping into a jurisdiction known for its favorable regulatory environment and strategic advantages. However, navigating the process of obtaining an investment fund license can be complex. Here’s a step-by-step guide to help you through the process: 1. Determine the Type of […]
Navigating Business Accounting Services: A Comprehensive Guide
In the realm of business, financial management is paramount for success. Accounting services play a pivotal role in ensuring businesses maintain accurate financial records, comply with regulatory standards, and make informed financial decisions. In this comprehensive guide, we delve into the intricacies of business accounting services, their types, benefits, and how they can propel your […]
Exploring the Benefits and Process of Outsourcing Finance and Accounting Services
Outsourcing finance and accounting services has become a strategic choice for many businesses looking to streamline operations, reduce costs, and enhance efficiency. But why do companies opt for outsourcing, and how can you navigate the process effectively? Let’s dive into the world of outsourcing finance and accounting services to uncover its benefits and key steps […]
Navigating Annual Compliance: A Guide for New Companies in the British Virgin Islands
Establishing a company is an exciting endeavor, but it comes with a slew of responsibilities, particularly when it comes to annual compliance. For businesses registered in the British Virgin Islands (BVI), understanding these obligations is crucial from day one. Let’s delve into what annual compliance entails and why it’s mandatory for newly registered companies. Table […]
BVI Governments reaffirms approach to Beneficial Ownership Register in relation to the ECJ’s Decision
Background: On the 22nd of November 2022, The European Court of Justice (ECJ) made a significant ruling against public access to beneficial owner registers of EU companies. This decision, based on fundamental privacy rights, clashed with the Anti-Money Laundering Directive, leading EU states to restrict access. On the 8th December 2023 the BVI Government published […]
BVI Removed from EU’s Non-cooperative Jurisdictions for Tax Purposes
The British Virgin Islands (BVI) has been removed from the European Union’s (EU) roster of non-cooperative jurisdictions for tax purposes as of 18th October 2023. This progress reflects the BVI’s adherence to the international standards outlined by the OECD Global Forum concerning the exchange of information upon request. Here’s the context: The BVI was initially […]
Understanding BVI Company Continuations, Mergers, and Consolidations: Post-Amendments Provisions and Processes
The amendments to the BVI Business Companies Act have brought focus to restructuring options for BVI companies looking to simplify their operations across different jurisdictions. Historically, migrating or continuing a company out of the BVI was a common approach due to its simplicity and speed. However, since January 1, 2023, new advertising and notification requirements […]
BVI Annual Financial Returns and How We Can Assist
Demystifying the BVI Business Update: Your Guide to the Annual Financial Return Requirement Recent changes in the British Virgin Islands (BVI) business landscape have introduced a crucial requirement known as the “Annual Financial Return” for companies. This new obligation is aimed at enhancing transparency and accountability without compromising privacy. Here’s a simplified breakdown for those […]
Enforcement of Economic Substance Regulations in the British Virgin Islands
July 2023 The BVI International Tax Authority (ITA) is now actively enforcing compliance with economic substance (ES) requirements, investigating entities and taking necessary action. This enforcement follows legislative changes made in 2022, expanding the ITA’s enforcement powers. The economic substance regulations were initially introduced in 2019 to meet international commitments to the EU Code of […]
Audit & Assurance
The MWM PKF approach is scalable, risk based and is supported by the latest technologies and computer assisted techniques. It focuses on key risks in a collaborative global environment enabling constructive recommendations that add value. MWMPKF assurance services include: Statutory Audit Compilations and Reviews Internal Audit For more information contact Horace Cuffie at hcuffie@mwmglobalhld.com
