Make sure you read this news carefully if you have companies registered in British Virgin Islands.
BVI Business Companies Act (Amendment of Schedule) (No. 3) Order, 2018 (“Order”) has come into force on 1 September 2018. An Industry Circular No.5 had been issued on 3 October 2018 by BVI Financial Services Commission.
BVI companies that fail to file their Register of Directors (ROD) by 31 December 2018 will be struck from the Register of Companies on 2 January 2019.
We have prepared a quick summary here to highlight the key points of that circular.