A Guide for Law Enforcement Officials and Regulators Published by the Government and BVI FSC

One of the latest documents released by the Government of the British Virgin Islands and the Financial Services Commission is a Handbook on International Co-operation and Information Exchange. It was published on April 4, 2007, as a Guide for Law Enforcement Officials and Regulators.

I’m sure that offshore professionals are very well aware about most part of the information published here, however as regards specific application of international standards in the BVI and particular explanation on some BVI legislative acts, general procedures and contact details are highly valuable to be read or at least bookmarked, if you are working in BVI financial services industry.

For general public setting up business company or using any other financial service from BVI it would also be recommended as an interesting and useful information to ascertain the high standards of the BVI.

The document opens with background information on international co-operation and information exchange, and continues with a brief survey and description of some key treaties and institutional initiatives relative to international co-operation.

The handbook contains information on Organisation for Co-operation and Development (OECD), which has a close working relations with the BVI through the jurisdiction's membership in the OECD Global Forum; there is also a list of other organisations with which the BVI has a working relationship.

Next chapter provides information on the BVI's Mutual Legal Assistance Regimes framework, and the ways how the legislative regime and enforcement tools are continually reviewed and reformed to keep them adjusted to developments in the domestic and international arenas. Other information concerns BVI Central Authorities, and the range of assistance that may be provided under BVI laws.

The chapter 'The Law on Providing Legal Assistance' includes provisions on law enforcement and obtaining evidence. Other chapters of the law are 'Legal Assistance in Civil or Commercial Proceedings Overseas', 'Co-operation with Foreign Regulatory Authorities', 'Mutual Legal Assistance in Tax Matters', 'Miscellaneous Matters Relative to Requests for Legal Assistance', 'General Procedures for the Transmission and Execution of Requests for Legal Assistance'.