British Virgin Islands—cross border banking and finance guide
Produced in partnership with Ogier
British Virgin Islands—cross border banking and finance guide

The following Banking & Finance practice note produced in partnership with Ogier provides comprehensive and up to date legal information covering:

  • British Virgin Islands—cross border banking and finance guide
  • Loan market and developments
  • Please provide a brief overview of the current state of the loan markets in your jurisdiction and any significant recent market developments
  • Please provide a brief overview of forthcoming changes to the law or other matters that may affect the loan markets or the responses to the questions below
  • Lending
  • Is it necessary to obtain any consents or licences in order to lend in your jurisdiction or enforce rights under a loan agreement and if so what is the process for obtaining the consent or licence? Are there any other restrictions on lending that foreign lenders should be aware of?
  • Are there any taxes, duties or other charges associated with making loans to entities that are incorporated in your jurisdiction?
  • Are there any restrictions, controls, fees, taxes or charges on foreign exchange in your jurisdiction
  • How is debt normally transferred in your jurisdiction?
  • Security and guarantees
  • More...

British Virgin Islands—cross border banking and finance guide

Loan market and developments

Please provide a brief overview of the current state of the loan markets in your jurisdiction and any significant recent market developments

The British Virgin Islands (BVI) does not have a commercial loan market as such and any lending into the territory that forms the subject of this guide would be provided by a non-BVI lender.

Typically a BVI company acting as a borrower would borrow from any of the world's major financial centres and would also utilise its facilities outside the BVI. Currently the bulk of the lending that the jurisdiction is seeing is provided by European, Asian and North American lenders.

Balance sheet lending and asset finance have historically been the largest sectors for the jurisdiction, but global market conditions have also seen a marked increase in restructurings and work-outs.

Please provide a brief overview of forthcoming changes to the law or other matters that may affect the loan markets or the responses to the questions below

No such legislation is anticipated.

Lending

Is it necessary to obtain any consents or licences in order to lend in your jurisdiction or enforce rights under a loan agreement and if so what is the process for obtaining the consent or licence? Are there any other restrictions on lending that foreign lenders should be aware of?

In the ordinary course, there are

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