Industry Update

21

Practitioners are reminded that the BVI Business Companies (Amendment of Schedules) Order, 2017 takes effect on 1 January, 2018. The Order among other things increases the new registration fees for BVI business companies and the annual renewal fees for existing BVI business companies. The new fees take effect on 1 January, 2018.

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14
The Frequently Asked Questions on the Financial Services (Continuity of Business) Act, 2017 (“the FAQs”) seek to answer questions licensee...

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07
New features launched in VIRRGIN On December 9 the following VIRRGIN features will be launched: ·       Amendme...

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06
For Register of Director filings that would have been due between 6 September and 15 October, 2017, Registered Agents are strongly encouraged to complete the outstanding filings now to avoid penalties. Penalties will be levied beginning 1 December, 2017.

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30

The BVI Financial Services Commission announces the beta availability of e-Certificates, effective 1 November, 2017. During beta testing, an e-Certificate will be provided as the default document on the completion of the following transactions: Incorporation, Continuation, Consolidation, Registration of Foreign Company, Change of Name, and Registration, Variation and Cessation of Charge. Where a traditional (hard copy) Certificate is required, the user should indicate in VIRRGIN.

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12

The British Virgin Islands Financial Services Commission (“FSC”) is advising Industry Practitioners that the following persons are authorised to sign documents issued by the Registry of Corporate Affairs under the BVI Business Companies Act, 2004 and the Partnership Act, 1996:

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02
Please note that the Registrar of Trade Marks, Patents and Copyright has declared under the rule 89 (1) of the Trade Marks Rules, 2015 that the normal operation of the Registry was interrupted for the period of 5 September, 2017 and 5 October, 2017 for the purposes of the Trade Marks Act, 2013.

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26
The BVI Financial Services Commission updated operating hours are from 9 a.m. to 4 p.m. daily.

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22
The BVI Financial Services Commission business continuity systems are in place in the wake of Hurricanes Irma and Maria and are working well.  Commission systems are functional and the VIRRGIN online service for the Registry of Corporate Affairs is fully operational.

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18
Due to the Hurricane Warning currently issued for the Territory of the Virgin Islands, the offices of the BVI Financial Services Commission will close at 2 p.m. on Monday, 18th September.

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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