Changes in BVI Legislation

We would like to inform you of the following amendments to BVI Legislation.

Amendments/Enhancements to BVI Legislation

Registration of register of directors

It is now mandatory to file the register with the Registry of Corporate Affairs.

• Companies incorporated AFTER 1 January 2016: shall file for registration of its register of directors within 14 days of the appointment of the first director. A company shall appoint a first director within 6 months of the date of incorporation of the company.  Cost $150 + disbursements

• Companies incorporated BEFORE 1 January 2016: have until 29 February 2016 to register a copy of its register of directors. Cost $150 + disbursements

• Changes to the register of directors: within 21 days of any change occurring, the company shall file a copy of the register of directors containing the changes. Cost $150 + disbursements

• Penalty for not filing the register of directors: $250. In addition, for each day that a company or an existing company fails to file a copy of its register of directors after the deadline for doing so, a penalty of $75 shall apply for each day that the failure continues.

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