A number of significant amendments to the BVI Business Companies Act will come into force as of 1st January 2023.
These amendments are intended to keep the BVI in compliance with the international standards and best practices. Those affected are urged to review and assess the impact that these might have on their companies.
The key amendments/ changes relate to:
- Requirements for filing Annual Financial Returns
- Strike-off and dissolution of companies
- Restoration of dissolved companies
- Names of directors available to the public
- BVI residency requirement for liquidators
- Continuation out of the BVI (redomiciliation)
- Register of members to include voting rights
- Introduction of Register of persons with significant control
To read more details on these new changes click here.