Industry Circular No. 1 of 2016-Commencement dates for BVI Business Companies (Amendment) Act, 2015

The BVI Financial Services Commission (FSC) hereby advises industry practitioners that by notice published in the Virgin Islands Official Gazette on Tuesday 5 January, 2016, the Minister of Finance (on 30 December, 2015) appointed the following dates on which the provisions of the BVI Business Companies (Amendment) Act, 2015 (the Act) shall come into force.

Sections 27 and 28 of the Act will come into force on 1 April, 2016.  These sections include provisions on the Registration of Register of Directors and particulars of directors to be registered. The date on which the provisions take effect, relate to both new and existing BVI business companies.

All other sections of the Act will come into force on 15 January, 2016.