Virgin Islands Clauses Relating to Venture Opportunities, competition
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How to fill out Clauses Relating To Venture Opportunities, Competition?
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FAQ
The emphasis of British Virgin Islands company law is to protect the rights of creditors and members (i.e. the sources of capital) as the key stakeholders in the company.
The British Virgin Islands is a common law jurisdiction, although British Virgin Islands law and procedure differs to a great degree from English law because of local statutes, orders and civil procedure rules.
Contracting parties to the Hague Convention (the ?Convention?), which includes the BVI, may rely on apostillisation as a form of legalisation. If a BVI company is requested by a foreign jurisdiction that is a party to the Convention, to provide a legalised document then the document can be legalised by apostille.
The BVI Consumer Protection Act aims to protect consumers from unfair business practices by establishing adequate safeguards on product safety, unfair contract terms and misleading advertising or marketing material.
British Virgin Islanders are classed as British Overseas Territories citizens and since 2002 have had full British citizenship. Although the territory is not part of the European Union and not directly subject to EU laws, its citizens are deemed to be citizens of the EU as well.
British Virgin Islands contract law is almost entirely based upon English common law. The British Virgin Islands has no equivalent of the Contracts (Rights of Third Parties) Act 1999, and applies strict privity of contract. Similarly there is no equivalent to the Unfair Contract Terms Act 1977 in the territory.
