Regulatory Alerts2024-12-04
BVI Business Companies (Amendment of Schedule 1) Order, 2024
The Cabinet of the British Virgin Islands issued this Order to amend the fee schedule in Part I of Schedule 1 to the BVI Business Companies Act, Revised Edition 2020. The amendment introduces new filing fees for beneficial ownership information and updates existing charges for registering members' registers, resignations as registered agents, and the issuance of various certified and uncertified documents. These changes take effect on the date the BVI Business Companies (Amendment) Act, 2024 comes into force.
VIRGIN ISLANDS BVI BUSINESS COMPANIES (AMENDMENT OF SCHEDULE 1) ORDER, 2024 ARRANGEMENT OF SECTIONS SECTION
- Citation and commencement
- Schedule 1 amended
2 VIRGIN ISLANDS STATUTORY INSTRUMENT 2024 NO. 57 BVI BUSINESS COMPANIES ACT (REVISED EDITION 2020) BVI Business Companies (Amendment of Schedule 1) Order, 2024 [Gazetted 4 th December, 2024] The Cabinet, in exercise of the power conferred by section 249(1) of the BVI Business Companies Act, Revised Edition 2020, and acting on the advice of the Financial Services Commission, makes this Order: Citation and commencement
- (1) This Order may be cited as the BVI Business Companies (Amendment of Schedule 1) Order, 2024. (2) This Order shall come into force on the date that the BVI Business Companies (Amendment) Act, 2024 comes into force. Schedule 1 amended
- The BVI Business Companies Act, Revised Edition 2020, is amended in Part I of Schedule 1 (a) by inserting in their respective section numerical order, the following: “96A(2) For filing beneficial ownership information for registration by the Registrar $125 96A(5) For filing the name and address of a person specified in subsection (4)(a) that holds a company’s beneficial ownership information $75 189A(5) For filing a rescission notice of resignation $75”; (b) by deleting the references to sections 43A(1) and 43A(2) in the first column and the related references in the second and third columns and substituting the following: “43A(1) and (2) For filing an initial copy of a register of members for registration by the Registrar $50
3 43A(3) For registration of change in register of members $75”; (c) by deleting the reference to section 93(2), (2A) and (6) in the first column and the related references in the second and third columns and substituting the following “93(2) For filing a notice of resignation as registered agent $100 93(6) For filing a rescission notice of resignation $75”; (d) by deleting the reference to section 233 in the first column and the related references in the second and third columns and substituting the following: “233 For the issue by the Registrar of- (a) a certified copy, or certified extract, of certificate of incorporation, restoration, merger, consolidation, arrangement, continuation, discontinuance, dissolution or good standing (b) a certified copy of register of members or register of directors $75 $100 (c) an uncertified copy, or uncertified extract, of a certificate of incorporation, restoration, merger, consolidation, arrangement, continuation, discontinuance, dissolution or good standing (d) an uncertified copy of register of members or register of directors $50 $75 (e) a duplicate certificate $50 (f) a physical copy of a certificate of whatever nature or form where an electronic version of the same certificate has been provided $50 (g) any other certified or uncertified document or certificate for which a fee is not specified elsewhere in this Schedule $100 For the inspection of- (a) the Registers maintained by the Registrar under section 230(1) $50 (b) any other qualifying document retained by the Registrar in accordance with section 230(4) $100
4 (c) all qualifying documents with respect to a company or foreign company retained by the Registrar in accordance with section 230(4) $250”. Made by the Cabinet this 4 th day of December, 2024. (Sgd.) Sandra Ward, Cabinet Secretary.