Citywealth Quick Insight Series on IFC Trends – BVI – Christopher Simpson, O’Neal Webster and BVI Finance Board

Date: 18 Mar 2026

Karen Jones

This week’s Citywealth Quick Insight Series on IFC Trends – BVI is dedicated to Christopher Simpson, Partner at O’Neal Webster and BVI Finance Board.

Christopher Simpson is head partner in O’Neal Webster’s Commercial Department. He’s based in the BVI office and advises a client base of leading financial institutions, corporations, corporate service providers, and law firms on all aspects of corporate finance, investment funds and regulatory matters. He has been on the BVI Finance Board of Directors since 2024.

What has changed most in how international families, including single and multi-family offices, use your jurisdiction today compared with two or three years ago?

International families and family offices are now approaching the British Virgin Islands (BVI) with far more urgency and intentionality than they did two or three years ago. Heightened geopolitical tensions, including the war in Ukraine and now Iran, shifts in the US policy on tariffs and immigration, and broader instability in several emerging markets, have led to a growing sense that long‑term asset protection and succession planning can no longer be deferred. Today, families increasingly turn to the BVI as a jurisdiction not only for its traditional benefits including its stability, corporate flexibility, court system and adherence to English common‑law principles, but also for evolving corporate and trust structures that enhance asset protection and family continuity. Family offices no longer view the BVI as merely a passive asset holding jurisdiction, rather they are now engaging with it as a central component of risk mitigation, wealth governance and strategic international planning.

Which specific legal or regulatory changes have been most significant in your jurisdiction over the past two to three years?

The most influential developments in the last two to three years have been the enactment of the Virtual Assets Service Providers Act (VASP Act), which came into force in 2023, the amendments to the BVI Business Companies Act, 2004 (BC Act), which took effect on January 2, 2025, and corresponding amendments to the Limited Partnership Act (LP Act). The VASP Act marked a significant regulatory step for the digital assets and fintech sector. The Act provides clarity on licensing, AML/CFT requirements and governance obligations for businesses conducting such activities. By the end of Q4 2025 more than twenty VASP approvals were issued, demonstrating the BVI’s willingness to remain competitive and forward‑thinking in this area.

The BC Act and LP Act amendments introduced mandatory filings of registers of members, general and limited partners, and beneficial ownership information with the BVI Registry of Corporate Affairs. Although compliance requirements have increased, confidentiality remains preserved because the information is not publicly accessible and beneficial ownership information may only be obtained by regulatory and law enforcement authorities, and persons who can demonstrate a defined “legitimate interest” which is primarily tied to purposes involving anti-money laundering (AML), countering terrorist financing (CFT), or and counter-proliferation financing (CPF). This approach allows the BVI to align itself with international transparency standards without compromising the confidentiality and security concerns that are often vital for private clients.

How are divorce, relocation and blended families changing trust, foundation or asset protection planning in your jurisdiction?

Divorce, relocation and the increasing prevalence of blended families have indeed influenced how individuals use BVI trusts, companies and investment structures. They are more proactive about asset protection and succession planning, often restructuring earlier to avoid future complications. Beneficiaries are requesting earlier distributions as they pursue independent investment goals, while family vehicles are increasingly incorporating digital assets as investments that require modernized governance arrangements. The use of VISTA trusts is becoming even more prominent, particularly for entrepreneurial families who wish to maintain control over underlying businesses while still benefiting from the protective features of a trust.

These changing dynamics have also led to greater reliance on BVI “firewall” protections, which help insulate BVI trusts from foreign matrimonial claims and forced‑heirship rules. Also, the increased mobility of families increases the need for careful cross‑border planning to ensure that their structures including BVI vehicles remain effective and enforceable as tax and residency profiles change.

What practical steps are families and family offices taking in your jurisdiction to embed sustainability, philanthropy or purpose into their structures?

Families and family offices are increasingly embedding sustainability and philanthropy into their long‑term wealth strategies. Many are establishing charitable purpose trusts and philanthropic funds designed to generate investment returns that can later be channeled into charitable objectives. Others are forming BVI companies and limited partnerships focused on ESG investments, such as renewable energy, conservation projects or other social ventures. From a practical perspective, they are asking more questions and seeking more advice on how BVI structures can help them to achieve their objectives. They are also incorporating more BVI based economic substance principles into their structures such as BVI based directors who can have direct input into governance matters.

As family wealth becomes more diversified, how are laws and regulation in your jurisdiction supporting digital assets, technology businesses or new forms of wealth?

Alongside more traditional succession and asset protection concerns, many families are also thinking about how new forms of wealth should be structured and governed. The BVI continues to strengthen its role as a leading jurisdiction for digital asset activity and technology ventures. The VASP Act has provided digital assets service providers with regulatory certainty and has formalized key aspects of licensing, compliance and client protection. In fact, the Destination Digital report from BVI Finance found that regulation remains a critical factor influencing where fintech businesses choose to incorporate and grow. When considering regulatory challenges, a third (32%) highlight the importance of a clear licensing framework for fintech and virtual assets. 

With more than twenty licenses granted by the BVI Financial Services Commission, the BVI has demonstrated its capacity to responsibly regulate the sector without stifling innovation. BVI funds and approved managers are now being used more than ever to manage Fintech based investments. Moreover, the BVI’s common‑law system is increasingly relied upon to resolve matters involving Fintech disputes, making it attractive to founders and next‑generation wealth creators seeking a robust legal and regulatory environment for their ventures.[MR1] [MR2] 

Which types of families, family offices, businesses or demographics do you expect to drive growth for your jurisdiction over the next five years?

Looking ahead over the next five years, I expect substantial growth from families and businesses emerging from sectors such as fintech, artificial intelligence, robotics, electric vehicle innovation and the broader digital economy. These clients are typically younger, highly mobile and technology focused. Many of these families are unfamiliar with the legal and regulatory implications of cross‑border structuring and will therefore need specific BVI advice regarding structure, compliance and regulatory implications. As these new wealth creators become increasingly global, the BVI is positioned to remain a preferred jurisdiction for flexible structuring and appropriate regulation. The jurisdiction is always adapting and will continue to adapt over the coming years to serve this demographic even better.

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