Regulatory Alerts2024-12-06
BVI Business Companies (Amendment) (No. 2) Act, 2024
The Legislature of the Virgin Islands enacted this Act to amend the BVI Business Companies Act, Revised Edition 2020, empowering the Financial Services Commission to grant extensions of time for filing annual financial returns. The legislation inserts new subsections allowing the Commission to extend the filing period by up to nine months upon application or on its own motion for individual companies, classes, or all companies. Additionally, the Act updates the registered agent's notification obligations to the Registrar, requiring written notice of failure to file within 30 days of the original due date or the end of any granted extension.
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