FAQs

An Authorised Agent is a person designated by a trust company to act as an intermediary between the licence holder and the Commission.

A principle office is the office of the Company Manager or Trust Licence holder with a physical presence in the (British) Virgin Islands.

A Trust Company is a company that carries on trust business as defined in (2) above.

Under the Banks and Trust Companies Act, 1990 General Trust Licence holders are required to have a minimum fully paid up capital of two hundred and fifty thousand dollars (US$250,000) or its equivalent in foreign currencies, or such sum as the Commission, by order determines, and has deposited or invested a sum of money as may be specified by the Commission but not to exceed $100,000.

Applicants for a Restricted Trust Licence are not subject to capital requirements.

Under the Company Management Act, 1990, a Company Manager is required to have a minimum paid up capital of twenty five thousand dollars (US$25,000).

The minimum requirements for obtaining a Company Management Licence are: proven company management experience, a minimum paid up capital of twenty five thousand dollars (US$25,000) and physical presence in the British Virgin Islands. The application fee is two hundred dollars (US$200). Special Note: These requirements are by no means exhaustive.

Note: A consensus has now emerged that only in circumstances where the institution concerned is of blue chip international stature and renown, whose presence in the jurisdiction would be a fillip to the reputation of the BVI as a situs for conduct of international business; or where the institution concerned will be providing additional services not currently provided within the jurisdiction, will company management licences be granted to companies other than companies with local ownership and a physical presence here in the BVI. In both cases, the company is expected to establish its own physical presence and apply for a general trust licence within two years of the grant of the licence. All other interests will initally have to apply for a General Trust Licence.

The minimum requirements for obtaining a General Trust Licence are: a minimum paid up capital of two hundred and fifty thousand dollars (US$250,000), proven trust experience and the applicant must satisfy our "fit and proper" criteria. Special Note: These requirements are by no means exhaustive.

In addition, an applicant who receives written confirmation that the granting of a general trust licence has been approved is required to make the following investment deposits:

• Twenty thousand dollars (US$20,000.) where the licensee provides registered agent services for no companies, or for companies not exceeding 1,500 in number; or
• Forty thousand dollars (US$40,000.) where the licensee provides registered agent services for companies exceeding 1,500 in number.

The minimum requirements for obtaining a Restricted Trust Licence are: proven trust experience and the applicant must meet our "fit and proper" criteria. There are no minimum capital requirements. Special Note: These requirements are by no means exhaustive.

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

• Two character references
• A police certificate/affidavit as to non-criminal record
• A completed personal questionnaire
• Notarized copy of individual passport identification page(s).
• Complete resume

The annual licence fee for a:

1. Company Management Licence: five hundred dollars (US$500) plus ten dollars (US$10) for each company under management.
2. General Trust Licence: ten thousand dollars (US$10,000).
3. Restricted Trust Licence: three hundred dollars (US$300).

Payment of these annual licence (renewal) fees are due during the month of January.

Documentation required for the appointment of a director/senior officer:

• Two character references
• A police certificate/affidavit as to non-criminal record
• A completed personal questionnaire
• Notarized copy of individual passport identification page(s)
• Complete resume

In determining whether an individual is "fit and proper" the Commission will consider a person's:(a) honesty, integrity and reputation (b) competence and capability and (c) financial soundness.

Information with respect to establishing a trust in the BVI should be directed to a General Trust Company or Legal Advocate in the British Virgin Islands. A listing of these persons can be obtained from this website.

Information on companies formed in the British Virgin Islands can be obtained from the BVI Commercial Registry. General information on a company's registration number, registered office, incorporation date, status and authorized capital, etc. is available. A small fee is charged for each search and various payment methods are available for your convenience.

Please contact the BVI Commercial Registry to conduct your search. Contact info: (284) 494 5355-phone or (284) 494 6331-fax.

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