Financial Crime World

Legislation Menu: British Virgin Islands Financial Services Sector

The following is a comprehensive list of legislation related to various topics in the British Virgin Islands (BVI) financial services sector.

Categories

1. Banking

  • Banking Act, 1990: Regulates the banking industry and provides for the licensing and supervision of banks.
  • International Business Companies (Amendment) Act, 2007: Amends the International Business Companies Act to include provisions related to banking services.
  • Financial Services Commission Regulations, 2011: Establishes regulations for financial institutions, including banks.

2. Insolvency

  • Bankruptcy Act, 1991: Provides a framework for bankruptcy proceedings in the BVI.
  • Companies (Winding-Up) Rules, 2003: Regulates the winding-up of insolvent companies in the BVI.
  • Supreme Court (International Arbitration) Rules, 2010: Establishes rules for international arbitration proceedings in the BVI.

3. Insurance

  • Insurance Act, 1994: Regulates the insurance industry and provides for the licensing and supervision of insurers.
  • Financial Services Commission Regulations, 2011: Establishes regulations for financial institutions, including insurers.
  • International Insurance Act, 2008: Provides a framework for international insurance transactions in the BVI.

4. International Cooperation

  • Double Taxation Relief (Economic Community of West African States) Order, 2006: Relieves double taxation between the BVI and ECOWAS member states.
  • Tax Information Exchange Agreement with France, 2010: Facilitates the exchange of tax information between the BVI and France.
  • Mutual Legal Assistance in Criminal Matters Act, 1999: Provides for mutual legal assistance in criminal matters between the BVI and other jurisdictions.

5. Investment Business

  • International Business Companies Act, 1984: Regulates international business companies (IBCs) in the BVI.
  • Mutual Funds Regulations, 2007: Establishes regulations for mutual funds operating in the BVI.
  • Securities and Investment Business Act, 1995: Regulates securities trading and investment business in the BVI.

6. Trusts & Estates

  • Trustee Act, 1969: Provides a framework for trusts and trustees in the BVI.
  • International Trusts (Amendment) Act, 2008: Amends the International Trusts Act to include provisions related to international trusts.
  • Administration of Estates Act, 1971: Regulates the administration of estates in the BVI.

7. Virtual Assets

  • Virtual Asset Service Providers Regulations, 2020: Establishes regulations for virtual asset service providers operating in the BVI.
  • Payment Services (Amendment) Act, 2019: Amends the Payment Services Act to include provisions related to virtual assets.
  • Anti-Money Laundering and Terrorist Financing Regulations, 2008: Requires anti-money laundering and terrorist financing reporting for virtual asset transactions.

8. Other

  • Financial Services Commission (Fees) Order, 2012: Sets fees for financial services commission applications and renewals.
  • International Business Companies (Amendment) Act, 2007: Amends the International Business Companies Act to include provisions related to licensing fees.
  • Banking Ordinance, 1990: Regulates banking services in the BVI.

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