Legal Business

Harneys: British Virgin Islands positioned to become an international arbitration centre

Phillip Kite

Global head of litigation and insolvency, Harneys

phillip.kite@harneys.com

The British Virgin Islands’ (BVI) Arbitration Act 2013 came into force on 1 October 2014. It is a landmark piece of legislation which is expected to propel alternative dispute resolution in the BVI into high gear. The BVI is now well-positioned to become a leading jurisdiction for international arbitration. The Act incorporates these main features: