Regulatory Alerts2022-08-12
BVI Business Companies (Amendment) Regulations, 2022
The Cabinet of the Virgin Islands issued these regulations to amend the BVI Business Companies Regulations, 2020, primarily by reducing the statutory retention period for company records from seven to five years. The amendments also introduce new eligibility criteria for voluntary liquidators, requiring specific professional qualifications and experience, while establishing new obligations for liquidators to collect and transmit records to registered agents. Additionally, the regulations update compliance requirements for certificates of good standing and revoke outdated provisions regarding document legibility and record-keeping.
Share