Continuations into and out of the BVI

Kristian Wilson • Posted 17/05/2011 • Under Articles

The British Virgin Islands is the leading offshore jurisdiction for company incorporations. There are currently over 456,000 active companies incorporated in the BVI, which greatly exceeds those incorporated in other offshore jurisdictions.

The large numbers of companies incorporated in the BVI puts the island on a similar footing to the other significant incorporation jurisdiction, the U.S. state of Delaware, which has over 879,000 incorporated entities. As with Delaware, the BVI has a reputation for the rapid and efficient incorporation of companies. In addition, both jurisdictions are recognised for the ease with which companies can migrate into and out of such jurisdictions. In fact, the BVI office of Conyers Dill & Pearman has recently assisted a number of clients in effecting continuations between Delaware and the BVI (being movements both out of and into the BVI) as well as in respect of other jurisdictions.