Industry Update

15

The Commission acknowledges the challenges with the implementation of legislative reform for the filing of particulars of directors (Register of Director [RoD] filings).  We are working extensively to deliver improved results that support efficient business operations and achievement of the primary objective. 

Challenges Resolved (between 4 and 15 July)

The following challenges were recently resolved:

1.      Batch filing with a single confirmation for the batch

2.      Address fields expanded

3.      Date format transposition

4.      Filings for companies continued into the Virgin Islands

5.      Dedicated handling of administrative errors to earlier filings

Updated versions of the Commission’s template for RoD filings are available on the Commission’s website and from within the VIRRGIN system.  Agents are reminded that use of the template is NOT mandatory.  For assistance with preparing and submitting data files generated from a private information system, please contact Perline George using rod@bvifsc.vg.

Correcting Administrative Errors (RoD filings)

The Registry is currently able to assist Agents with correcting errors in the RoD filings using the following mechanism:

1.      To request corrections to a RoD filing please email a completed Request for Amendments to Particulars of RoD form to the Registry using rod@bvifsc.vg .

2.      Agents will receive a transaction number as a reference when the request has been received.

3.      Amendments will be processed within 36 hours of receipt and on completion, the Agent will receive confirmation

4.      Administrative errors will only be processed one time for each company without charge.  Beginning with the second request to correct an administrative error the charge will be the same as for an amendment to the register.

5.      Administrative errors will only be corrected without charge if they are submitted for processing within 48 hours of the original filing.  After 48 hours the amendment charge will apply.

6.      Please direct inquiries for amendments to RoD filings to the attention of Perline George via email.  To ensure a transaction record of your request please submit your request via email ONLY to (rod@bvifsc.vg).

Challenges currently being addressed:

•  Register Amendment/Correction facility
•  Review of Country List (ISO)
•  Additional guidance on filings for continuations
•  Dedicated unit for queries, challenges and corrections
•  Batch filings for incorporations after 1 April

 

Requests under consideration

•  Extension of fee neutral period
•  Addition of foreign character names (directors) on registers


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Contact Information

British Virgin Islands Financial Services Commission


Pasea Estate
P.O. Box 418
Road Town, Tortola, VG 1110
British Virgin Islands

Tel: 284-494-1324 or 284-494-4190 GMT – 4:00
Fax: 284-494-5016
Hours: Monday-Friday 8:30a.m. - 4:30p.m.
commissioner@bvifsc.vg