By Michael Killourhy
The British Virgin Islands (BVI) will shortly implement some important changes to the rules governing segregated portfolio companies (SPCs) incorporated or registered under the BVI Business Companies Act, 2004 (BCA). These changes, introduced by the BVI Business Companies (Amendment) Act, 2018 (the 2018 BCA Amendment Act) will come into force on 1 October 2018.
Whilst the use of SPCs in investment structures is not new, the BVI has historically restricted the use of SPC structures to regulated funds and insurance companies. The changes brought about by the 2018 BCA Amendment Act are intended to broaden the use of SPC structures going forward.