Asian Legal Professionals Discuss the BVI’s Legal Profession Act with Chair of the General Legal Council

Hong Kong, May 30, 2016 – Ms. Dancia Penn, QC, OBE, Chairperson of the Virgin Islands General Legal Council (GLC), recently concluded a series of seminars and meetings on the Legal Profession Act with British Virgin Islands’ (BVI) legal practitioners in Asia.

The Legal Profession Act, which was passed in 2015 and amended in January 2016, sets out a regulatory framework for the BVI’s legal profession.  Among the powers and functions of the GLC are the regulation, supervision and setting of standards of conduct and proficiency for the legal profession.  These powers and functions would be applicable to legal practitioners admitted and entitled to practice BVI law whether they are inside the BVI, in Asia or elsewhere in the world.

Ms. Elise Donovan, Director of BVI House Asia, said, “Asia is the single biggest market for the BVI, both in terms of company incorporation business and transactional business. The growth of the use of the jurisdiction in Asia has been partly fuelled by the establishment of BVI legal practices in Asia by a number of the leading international offshore law firms.”

Most of the offshore law firms with a BVI practice and presence in the BVI have offices in Asia.  In addition, a number of the BVI law firms in the BVI, with no physical presence in Asia, act for clients in Asia and also benefit from various instructions where the firms with an Asian presence refer potential work to them.

 “The cultural and commercial demands of Asian clients mean that the way in which BVI law is practised in Asia is different to other parts of the world,” said Ms. Donovan. “Many of the legal professionals were concerned about the prescriptions of the LPA and how it would impact BVI business in the region, so it was important to address those concerns.”

While in the region, Ms. Penn held several seminars on the Legal Profession Act and met with many BVI practitioners. Ms. Penn also met with the equivalent to the BVI’s General Legal Council in Singapore.

Additionally, Ms. Penn was invited by the Law Society of Hong Kong to address them on “The Panama Papers – Don’t Throw Out the Baby with the Bath Water.”

Ms. Penn said, “The work of the General Legal Council will very much be enhanced and informed by all that I learned on this visit. I was particularly heartened by the good attendance and the level of participation at the seminars and at the private meetings.”