23.03.2016. BVI requirements to file Register of Directors with Registry

Company News

Regarding requirement of the Amendments to the British Virgin Islands Business Companies Act starts from 1 January 2016 the Register of Directors of BVI companies has to be submitted to the BVI Companies Registry on a confidential basis so that it may be available to the BVI’s regulatory authorities.

The files of the Register of Directors shall be considered private information and shall only be available upon a court order or a written request issued by a competent authority.

New registered BVI companies as of 1st April 2016 are required to file their Register of Directors within 21 days after the appointment of its first directors with the BVI Companies Registry. All changes of directors must be filed within 30 days after the change.

Penalties – companies that do not file its register of directors within the above terms shall incur in a penalty in the amount of 100 USD.

Existing BVI companies incorporated before 31stMarch 2016 will have a transition period to file their Register of Directors, for free, until 30th September 2016.

Any BVI company will only have to file the names, addresses and dates of appointment of the directors acting on 31st March 2016, but they do not have to file any information about other directors, which they may have had in the past.

To file the Register of Directors with Companies Registry filing fee is payable.

Special offer for our Bennet Bernstein & Partners clients:

BBP does not ask additionally pay for this service if annual support of the BVI company for 2016-2017 is paid till 15th September 2016.

After 15th September 2016 the Register of Director filing fee of 150 USD will be applied.

There are calculated penalties if companies that do not file its register of directors till 31st March, 2017:

  •  300 USD – delay till one month,
  • 500 USD – delay from one till three months,
  • 750 USD – delay for three till six months,
  • 1000 USD – delay for more than six months.