British Virgin Islands on Tax Authorities

The British Virgin Islands (the BVI), along with most other major offshore jurisdictions, introduced "economic substance" requirements for entities carrying on certain specified activities.

Sophisticated international families are more than familiar with the need to structure their affairs using vehicles that are modern, flexible, and – ideally – mobile.

A recent change to the British Virgin Islands ("BVI") Rules on Economic Substance ("ES Rules")1 serves as a reminder of the need to be familiar with the BVI International Tax Authority's...