Industry Update

16

SUBSCRIPTION/ ADMINISTRATORS


1. When should the subscription payment/ fee be submitted?

Subscription fees are due annually and should be submitted no later than the 31st of March each year.


2. Who is allowed to request a VIRRGIN subscription?

A designated Administrator (selected and previously appointed by the agent/firm) may file a subscription request.

3. Why does an administrator need to be appointed?

The Administrator is the designated point of contact for each firm.

The Administrator manages the subscriptions on behalf of all VIRRGIN authorised users and is the main point of contact with the Commission for VIRRGIN access and use.


4. Who can be selected as an Administrator?

The Administrator must be an employee of a bona fide ROCA user (firm or individual) and resident in the Territory.

Administrators control the firm’s access to VIRRGIN and is able to: request additional users and disable or change user access. As such, the Commission encourages firms to identify and select suitable persons as VIRRGIN Administrators.


5. How many Administrators are allowed per account?

Number of users           Administrators allowed

1-24                                 1

25-49                               2

50+                                  3


6. What is the process to set up the Administrator access?

To set up Administrator access:

  1. Download the VIRRGIN Administrator Registration form, available on the FSC website www.bvifsc.vg.
  2. Submit the completed registration form to VIRRGIN Support at support@bvifsc.vg.

Completed registration forms will be reviewed and processed within 48 hours.

A confirmation email will be sent to the Administrator when the application has been successfully processed.


7. The Administrator application has been approved, what is the next step?

Once the Administrator application has been approved, using the VIRRGIN Subscription Module, the approved Administrator may now upload User Declaration forms, for active users and create new users as necessary and submit for processing.


8. What is a User Declaration form and who is required to complete it?

The User Declaration form is to be signed by all active users as acknowledgement of and agreement with the terms and conditions for the use of VIRRGIN.

This and any other relevant forms can be found within the form library on the Commission’s website at www.bvifsc.vg.


9. Can another Administrator be appointed if the Administrator is scheduled to be away from the office?

Yes, if the usual Administrator is away from the office a temporary Administrator may be appointed.

The usual Administrator appointment process must be followed.

 
USERS


1. How does the Administrator create a new user?

Creating a new VIRRGIN User:

1.    Log into the Subscription Module.
2.    Select New (if accessing for the first time) or Amend Subscription, [the User Details Page is displayed].
3.    At the bottom of the user list screen, select New [a data entry form will appear].
4.    Enter all relevant user details, and attach the corresponding signed User Declaration form.
5.    Select Save and submit the application by selecting Next at the bottom of the screen.
6.    If a payment is required, you will be taken to the payment module.
7.    If no payment is required, you will be taken to the acknowledgement screen that confirms that your subscription  has been submitted for processing.

2. System is displaying "Subscription has expired. Please inform your administrator to renew  your subscription" What does this mean?

This means that the grace period to submit or renew the subscription has passed; users are therefore not able to access the VIRRGIN system.

The Administrator will need to renew the subscription as only the Administrator can access the VIRRGIN Subscription Module.


3. Why is the system displaying the message "Staff ID already exist"?

VIRRGIN will display the message “Staff ID already exists”, where the User ID already exists.

Administrators should amend the ID of the new user being created in order to proceed.



AGENT GROUP



1. What is an Agent Group?

Licensees/firms who manage more than one registered agent or practitioner, may make a request to the Commission to create a single group with all of its related entities.

A group facilitates a single user to retain only one user ID and password with the ability to access the multiple accounts of the group. There is therefore no need for one user to have multiple user IDs.

Please note that the subscription rates are still calculated per user, per account.

Please submit to VIRRGIN Support the list of the accounts seeking to be combined into a single group.

Group account management instructions will be sent in a confirmation email once processing is complete.


2. How do I add an agent profile to an existing agent group or new agent group?

Please contact VIRRGIN Support at support@bvifsc.vg to request this option.


3. Why is the Search Staff Name field displayed in the Add Agent Staff Page?

This option only applies to groups. This field indicates the Administrator currently logged into the system is within a group of agents; here the Administrator can search for an active user of another agent within the group and add that user to another agent account.


4. How to I add users to a group?

Adding Users to a group:

  1. Enter the first three or more characters of the first or last name of the user into the Search Staff Name field
  2. Select the desired name
  3. Save and submit

Once approved, the user will have the flexibility to move between agent profiles without having to switch login information.

Please defunct any duplicate user accounts prior to submission.



HONG KONG ACCESS



1. How does the Administrator create a Hong Kong based user?

The steps to create a Hong Kong based user are the same as a BVI user, however the Administrator must ensure that ‘Hong Kong’ is selected from the location drop down list.


2. How can the Hong Kong based user access the system outside of the BVI?

The licensee/firm must submit a static IP address for the Hong Kong office to VIRRGIN Support.

Notification will be sent once the IP address has been verified and added. The Authorised user may then proceed to access the system.


3. What is the maximum number of local and Hong Kong based users allowed?

Currently, for every 1-5 local users you are allowed 1 Hong Kong User, subsequently for every 5 local users, 1 Hong Kong user can be added.


4. What services are available to Hong Kong based users?

Hong Kong based users are able to use the following VIRRGIN services:

  1. Name Reservations (individual/batch)
  2. Name Reservations (English & Foreign Character)
  3. Extension for Reserved Name
  4. Name Reservations Expiration
  5. Status Inquiry
  6. Request for Certificates – of Good Standing
  7. Requests for Certified Copies
  8. Company Searches

5. Can the payments for a Hong Kong User be limited or controlled?

Hong Kong users can only submit transactions based on the services allowed.

All monies are deducted from the Local Agent’s account; there is no separate POA account for Hong Kong users.


6. What is the fee for Hong Kong users?

The fee is $1500 per year, per user, per account.




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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