Regulatory Alerts2018-03-16
Micro Business Companies Act, 2017
The Legislature of the Virgin Islands enacted this Act to establish a simplified corporate framework for micro business companies limited by shares. The legislation defines strict operational constraints, including prohibitions on financial services activities and caps on annual turnover and gross assets. It further regulates the incorporation process, the exclusive management role of the principal shareholder, and the procedures for liquidation, dissolution, and restoration.
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