Regulatory Alerts2021-07-01
BVI Business Companies (Amendment of Schedule 1) Order, 2021
The Cabinet of the Virgin Islands issued this Order to amend Schedule 1 of the BVI Business Companies Act, 2004, pursuant to advice from the Financial Services Commission. The amendment updates various statutory fees, including new charges for registered agent resignations, foreign company notices, and certified copies of corporate documents. It also introduces a general registration fee of $100 for transactions not otherwise specified in the Schedule.
VIRGIN ISLANDS BVI BUSINESS COMPANIES (AMENDMENT OF SCHEDULE 1) ORDER, 2021 ARRANGEMENT OF SECTIONS Section 1… Citation and commencement. 2… Schedule 1 amended.
2 VIRGIN ISLANDS STATUTORY ISNTRUMENT 2021 NO. 29 BVI BSUINESS COMPANIES ACT, 2004 (No. 16 of 2004) BVI Business Companies (Amendment of Schedule 1) Order, 2021 [Gazetted 1 st April, 2021] The Cabinet, acting on the advice of the Financial Services Commission pursuant to section 249 (1) of the BVI Business Companies Act, 2004 (No. 16 of 2004), makes the following Order: Citation and 1. (1) This Order may be cited as the BVI Business Companies (Amendment of commencement. Schedule 1) Order, 2021. (2) This Order shall come into force on such date as the Minister may, by Notice published in the Gazette, appoint. Schedule 1 2. Schedule 1 of the BVI Business Companies Act, 2004 is amended in Part I⸻ amended. (a) in relation to section 25 referenced in the first column, by adding after the word “name” in the second column, the words “for 90 days”; (b) by inserting after the reference to section “92C” in the first column, the following⸻ “93 (4), (5) and (6) (a) For registration of a notice of resignation as registered agent (b) For filing a notice of rescission as registered agent $100 $75”; (c) in relation to section 118B (1) referenced in the first column, by deleting the figures “$0” in the third column and substituting the figures “$75”; (d) by inserting after the reference to section “192 (1)” in the first column, the following⸻ “193 (1) For filing by foreign company of notice of ceasing to carry on business in the Virgin Islands $100”;
3 (e) in relation to section “233” referenced in the first column, by adding after the last paragraph in the second and third columns, the following⸻ “For the issue by the Registrar of⸻ (a) a certified copy, or certified extract, of a certificate of incorporation, restoration, merger, consolidation, arrangement, continuation, discontinuance, dissolution, or good standing $75 (b) an uncertified copy, or uncertified extract, of a certificate of incorporation, restoration, merger, consolidation, arrangement, continuation, discontinuance, dissolution, or good standing $50 (c) a duplicate certificate $50 (d) a physical copy of a certificate of whatever nature or form where an electronic version of the same certificate has been provided $50 (e) any other certified or uncertified document or certificate for which a fee is not specified elsewhere in this Schedule $100”; (f) by deleting the paragraph after section “236” marked “General” in the first column, in all the three columns and substituting the following⸻ “General For the registration of any document required or permitted to be registered, or the filing of any transaction required, under the Act for which a fee is not specified $100”. Made by the Cabinet this 1 st day of April, 2021. (Sgd.) Sandra Ward, Cabinet Secretary