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FAQs

 

How may I retain a list of the Authorised or Registered Agents of the BVI?

A list of the Authorised Registered Agents of the BVI may be accessed via this website.

What is the requirement for seeking approval for the change of a shareholder(s)/beneficial interest?

When changing a shareholder/beneficial interest of a bank, the Commission must be presented with a breakdown of the bank's proposed shareholding (which must indicate the number and percentage of shares held by each proposed shareholder). Additionally, information on the new shareholder must include the following:

  • Two professional character references (plus one financial reference)
  • A police certificate or notarized affidavit as to non- criminal record
  • A completed personal questionnaire
  • Notarized copy of individual passport identification page(s).
  • Detailed resume

Will the Registry still process Name Reservations for us?

The VIRRGIN system is available for Name Reservations on-line and we encourage all agents to use this feature. Please call the VIRRGIN Customer Care Centre for assistance in completing Name Reservations.

How many people from my organisation should consistently communicate with the Registry of Corporate Affairs?

Designate up to 2 persons to communicate with the Registry for more efficient service and response.

When filing amendments for an automatically re-registered company how do you file the documents?

Refer to company as a BVI Business Company with the existing number and BC approved forms should be used.

What is the fee to conduct a search on a former local company?

The fee is $15.00

Where an existing private or professional fund has not issued an offering document, should the fund provide to each investor a copy of the investment warning in accordance with Regulation 9(3)?

An existing private or professional fund that has not issued an offering document is required to provide investors and potential investors with an investment warning in all cases where an offer or invitation to purchase or subscribe for shares is made. In relation to existing investors an investment warning is required only where the fund continues to offer them its shares for purchase or subscription. The investment warning should be provided to each investor as a separate document.

What are the capital requirements for a captive by type of business?

Type of business Capital Requirements

General insurers - $100,000

Long-term insurers - $200,000

What is a Registered Agent?

A registered agent as defined by the International Business Companies Act ("IBCA") means "the person who is at any particular time performing the functions of registered agent of a company incorporated under this Act pursuant to subsection (1) of section 39" (of the IBCA).

How do I become a Registered Agent in the BVI?

To become a Registered Agent in the British Virgin Islands, a Company Management Licence or a General Trust Licence must be obtained under the laws of the British Virgin Islands.

What criteria are used to determine whether an applicant for a licence is & "fit and proper"?

In determining whether an individual is "fit and proper" the Commission will consider: (a) honesty, integrity and reputation (b) competence and capability and (c) financial soundness, of the principals and companies associated with the applicant.

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