Industry Circular: Registry's Corner

Registry's Corner

The BVI Financial Services Commission ("the Commission") reminds licensed agents and service providers of the following: 

Collection of Documents 
The Commission considers items as ‘received’ once our records indicate VIRRGIN has remitted the documents and there is proof of the signature on collection. Agents and service providers are encouraged to re-check their verification sheet to properly account for all requested documents before signing. Requests for re-issuing of documents will require new payment of the corresponding fees.

Company Names on Written Communications/Documents
In accordance with Section 26 (1)(2) of the BVI Business Companies Act (Revised 2022) (the "Act"), a company's full name and its foreign character name must appear on the foreign language translation certificate submitted to the Registry when filing a transaction. Agents and service providers are to note that contravention of the same constitutes an offence under the Act. It is essential to keep to the requirements of the Act by providing the requisite information.

1. Section 26 states: 'a company shall ensure that its full name and, if it has one, its foreign character name, is clearly stated in— (a) every written communication sent by, or on behalf of, the company; and (b) every document issued or signed by, or on behalf of, the company that evidences or creates a legal obligation of the company.'  

Industry practitioners are encouraged to contact the Registry of Corporate Affairs offices at support@bvifsc.vg for questions or queries concerning these messages. 

Please continue to monitor the Commission's website for essential updates.