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MBC Act

 
Micro Business Companies Act

The Micro Business Companies Act, 2017 "The Act", was enacted by the House of Assembly of the Virgin Islands on 24 November, 2017. The Act provides a new regime for the registration of micro businesses, defined by the Act as businesses with an asset value or annual turnover of no more than $2 million (in any currency) and not more than 10 employees. An MBC is not permitted to carry on regulated business.