Practically Speaking - Succession planning and BVI assets – A few practical pointers

Our podcast series Practically Speaking, was launched to provide our listeners with practical advice and insights on issues applicable to stakeholders of BVI entities.

In our eighth episode, Transactional Partner Rachel Graham and Senior Associate within Harneys’ Private Wealth team, Matthew Howson discuss the following:

• What happens when a non-resident holder of BVI shares passes away, whether they held the shares absolutely or via a nomineeship?
• How to bridge the gap between the law of the BVI company and the law of the deceased’s home jurisdiction: covering some near-universal misperceptions.
• What works to ensure that BVI assets and shares are transferred directly to beneficiaries, and what doesn’t.
• Provisions necessary for nominating a reserve director for a BVI company holding vehicle, in the event that the sole individual shareholder and director passes away.

Find out more about succession planning for BVI companies here.

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Harneys produces a variety of podcasts, providing on-the-go legal analysis over the airways. Visit our Podcasts page to see them all.