For shares in a BVI company held personally or via a nominee arrangement, such shares will be effectively frozen upon the passing away of individual shareholders. A BVI grant is required to transfer the deceased shareholder’s shares.
On 1 November 2017, BVI introduced the Eastern Caribbean Supreme Court (Non-Contentious Probate and Administration of Estates) Rules 2017, revoking the old probate rules. From that effective date, all new and pending applications will be subject to the new rules, irrespective of the date of death.
The new rules have introduced several very important changes to the documents and process involved. In this seminar, the speakers will cover the following key content: