Regulatory Alerts2024-12-24
BVI Business Companies (Amendment of Schedule 1) (No. 2) Order, 2024
The Cabinet of the British Virgin Islands issued this Order to amend Schedule 1 of the BVI Business Companies Act, Revised Edition 2020. The amendment introduces a $75 filing fee for changes in beneficial ownership information under section 96A(8) and sets the fee for existing companies registering specific information under Part VIIA of Schedule 2 to $0. This statutory instrument was gazetted on December 24, 2024, and comes into force concurrently with the BVI Business Companies (Amendment) Act, 2024.
VIRGIN ISLANDS BVI BUSINESS COMPANIES (AMENDMENT OF SCHEDULE 1) (NO. 2) ORDER, 2024 ARRANGEMENT OF SECTIONS SECTION
- Citation and commencement
- Schedule 1 amended
2 VIRGIN ISLANDS STATUTORY INSTRUMENT 2024 NO. 70 BVI BUSINESS COMPANIES ACT (REVISED EDITION 2020) BVI Business Companies (Amendment of Schedule 1) (No. 2) Order, 2024 [Gazetted 24th 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) (No. 2) 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 by inserting in their respective section numerical order, the following: “96A(8) For filing of a change in beneficial ownership information $75 Part VIIA of Schedule 2 to the Act, paragraph 60I(1) For filing by an existing company for registration by the Registrar (where applicable) information required under sections 41, 43A, 96A, 118, and 118A(1A), within the period specified in paragraph 60I(1) $0”. Made by the Cabinet this 24th day of December, 2024. (Sgd.) Sandra Ward, Cabinet Secretary.