British Virgin Islands Statutory Mergers

Walkers is interested to note that businesses have been increasingly taking advantage of the statutory provisions relating to mergers in the British Virgin Islands (“BVI”). These provisions are set out in the BVI Business Companies Act, 2004 (as amended) (the “BCA”). The merger provisions in the BCA are proving popular given that they afford a simple, relatively quick and low cost way of merging companies that does not require the involvement of the courts. This article seeks to summarise the statutory merger process under the BCA and highlights some of the key points that clients should keep in mind when embarking on the merger process.

The increasing popularity of the BVI statutory merger regime is characteristic of a jurisdiction whose corporate laws are permissive, flexible and user-friendly. Walkers expects that the merger provisions in the BCA will continue to prove popular given they afford a simple, relatively quick and low cost way of merging companies that does not require the involvement of the courts. 

 

The key steps involved in effecting a merger under the BCA are explained below.

 

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BRITISH VIRGIN ISLANDS
David CollinsManaging PartnerT +1 284 852 2240david.collins@walkersglobal.com
Ashley DaviesPartnerT +1 284 852 2202 ashley.davies@walkersglobal.com
Nick EganSenior CounselT +1 284 852 2224nick.egan@walkersglobal.com

CAYMAN ISLANDS
David CollinsManaging PartnerT +1 284 852 2240david.collins@walkersglobal.com