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Lawyers for the BVI ‘confident’ in public register battle

By Will Grahame-Clarke, 6 Jun 18

The government of the British Virgin Islands (BVI) has assembled a legal team to fight the imposition of a register of beneficial ownership by the UK.

Offshore UK property owners to be listed by 2021

Withers, led by partner Hussein Haeri, is advising the BVI Government alongside leading counsel professor Dan Sarooshi QC and BVI constitutional lawyer Gerard Farara QC.

The UK wants to introduce a public beneficial ownership of companies registered in British overseas territories (including the BVI) by 31 December 2020.

“We are confident that there are constitutional grounds for challenging the imposition on the BVI of a public register of the beneficial ownership of companies and human rights issues raised by public access to the register,” said Haeri, head of Withers’ public international law team.

“The BVI’s consistent position is that it will not introduce public registers unless and until they become a global standard.”

Withers partners representing the BVI Government are Haeri and Philip Munro in London and Niki Olympitis in the BVI.

British overseas territories have expressed dismay at the plans and the Cayman Islands has pledged to change their constitution to avoid the measures.

Tags: British Virgin Islands | Public Register | Withers

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.