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Press Release From Independent Source

Public invited to consultation on reforms of BVI business companies act

The BVI Financial Services Commission (the Commission) invites members of the public to provide feedback, opinions and comments on the proposed reform to the BVI Business Companies Act, via the Draft BVI Business Companies (Amendment) Act, 2024 (“the Bill”). Photo: VINO/File
ROAD TOWN, Tortola, Virgin Islands - The BVI Financial Services Commission (the Commission) invites members of the public to provide feedback, opinions and comments on the proposed reform to the BVI Business Companies Act, via the Draft BVI Business Companies (Amendment) Act, 2024 (“the Bill”).

The Explanatory Memorandum outlines the proposed changes to the Bill, along with the rationale behind those changes.

Interested persons are invited to review the Explanatory Memorandum along with the Bill and provide feedback, opinions and comments within the Consultation Comments Template.

For ease of reference, the BVI Business Companies Act (Revised Edition 2020), as well as the 2022 and 2023 amendments to the BVI Business Companies Act can be found on the Commission’s website to assist with your review.

To participate in the consultation process, feedback should be submitted to consultation@bvifsc.vg via the Consultation Comments Template by 6:00 pm on Monday, 6 May 2024.

Late submissions will not be considered. 

3 Responses to “Public invited to consultation on reforms of BVI business companies act”

  • lodger (22/04/2024, 23:02) Like (0) Dislike (3) Reply
    Barker is a joke
  • So Dey (24/04/2024, 03:49) Like (1) Dislike (0) Reply
    You want our inout and opinión snd you still do whst the hell you want? Wait for it.
  • Worried (24/04/2024, 21:58) Like (0) Dislike (0) Reply
    This is not a business act this is an enforcement Act 0 the FSC reaching their long arm into unregulated business. How can the BVI economy service when we decide to bring in so many administrative requirements (filing register of directors, filing register of members, filing register of beneficial owners, filing annual return, filing economic substance etc) most of which are $1000 per month penalty without limit if you make a mistake! This bill which brings substantial revenue to the FSC and rich lawyers and strangles business in the BVI should be kicked to the kerb as terrible


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