Virgin Islands Limitation on Substances Covered by Lease

State:
Multi-State
Control #:
US-OG-803
Format:
Word; 
Rich Text
Instant download

Description

This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.

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FAQ

While you can certainly move, you will not immediately become a citizen of the British Virgin Islands. Like other foreigners, you will be required to request long-term permission to stay. Holders of a UK (and USA and Canadian) passport do not need a visa to enter the BVI.

Import and Export Restrictions When Traveling to the BVI 200 cigarettes. 50 cigars. 2 liters table wine. 1 liter spirits. 1 liter of other alcoholic liqueurs over 22% ABV. 2 liters of fortified wine. Perfume (60 mL)

Economic Substance legislation in the British Virgin Islands requires certain entities incorporated or registered in the British Virgin Islands and which conduct one or more of a set list of relevant activities to comply with local substance requirements known as 'economic substance'.

Limitation periods Contract and tort claims: six years from the date on which the cause of action accrued. Claims brought in respect of deeds: 12 years from the date of breach of the obligation under the deed.

Your passport must be valid for another 6 months upon entering the territory. Visitors from some countries may also require a visa for entry. If in doubt about the necessity of a visa check with BVI Tourist Board, or contact your nearest British Embassy.

The average Virgin Islands statute of limitations is around two years for most civil cases. This means that for whatever civil crime is committed, the plaintiff has two years from the date of the crime to talk to a lawyer.

Section 32 of the Limitation Act 1980 states that ?any fact relevant to the plaintiff's right of action has been deliberately concealed from him by the Defendant? the 6 year period for bringing a claim does not start until the Claimant has discovered the concealment, or could have done so with reasonable diligence.

Visa requirements The BVI immigration authorities will issue you with a 1-month entry stamp on arrival. You may also be granted an extension for 1 further month. Extensions for up to 6 months are granted on the discretion of the Chief Immigration Officer, if you can show proof of independent financial means.

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Virgin Islands Limitation on Substances Covered by Lease