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FAQs

 

How do I become a Registered Agent in the BVI?

To become a Registered Agent in the British Virgin Islands, a Company Management Licence or a General Trust Licence must be obtained under the laws of the British Virgin Islands.

What criteria are used to determine whether an applicant for a licence is & "fit and proper"?

In determining whether an individual is "fit and proper" the Commission will consider: (a) honesty, integrity and reputation (b) competence and capability and (c) financial soundness, of the principals and companies associated with the applicant.

What happen after my 10 day Name Reservation has expired if I haven't incorporated the company?

After the inital name reservation period expires, your option for immediate re-reservation of the name is to exercise the 90-day Name Reservation. The initial name reservation cannot be extended for further complimentary 10-days immediately but you can do this after a further 10 days have past.

Should anything be attached to e-filings?

Attach the VIRRGIN generated receipt to e-filings

How do you submit final notice documents for an automatically re-registered company that began its winding-up procedures under the IBC Act?

Schedule II, Part VII, paragraph 55 of the BVI Business Companies Act states that Part 1X of the IBC continues to apply in this case. Once the dissolution process started under the IBC Act, it should continue pursuant to Part 1X of the IBC Act.

SPECIAL NOTICE

Please read the Commission’s disclaimer and background statement on the immobilisation of bearer shares prior to viewing FAQs

Are existing private or professional funds that do not currently have a custodian or fund manager required to appoint a custodian and fund manager?

Yes. All private and professional funds, including existing funds, are required to have a custodian and fund manager at all times, unless they are exempted from this requirement by the Commission. Where an existing private or professional fund has not appointed a custodian or a fund manager it should take steps to do so before the first transition date of August 3, 2010, or apply to the Commission for an exemption.

As regards the application process for exemptions, a single application may be made by or on behalf of two or more funds stating the names of the funds for which the exemption is sought and the reasons for the exemption.

What is the application fee for a new insurance entity?

Licence Type Application Fee

Insurer $1,000

Insurance Manager $500

Insurance Agent/broker $500

Loss Adjuster $500

What is an Authorised Agent?

An Authorised Agent is a person designated by a trust company to act as an intermediary between the licence holder and the Commission.

Is there a public register of trusts in the BVI?

Public filing and registration of trust details is not required by BVI law.

How may I obtain a list of the Authorised Agents and Registered Agents of the BVI?

A list of the Authorised Registered Agents of the BVI may be accessed via this website.

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