31 January 2023 Amendments to the BVI Business Companies Act

Jan 31, 2023

Amendments to the BVI Business Companies Act

The BVI Government has made major amendments to the BVI Business Companies Act to be more in-line with global governance and regulatory requirements and the amendments have taken effect from 1 January 2023. Discover how these amendments affect BVI entities going forward.

Brief Outline:

Legislation timeline

Key changes:

Striking-off and dissolution

Filing of Annual Financial Return

Voluntary Liquidators

Publicly Available Director Names

Continuation outside the BVI

Framework for Register of Person with Significant Control

Abolition of bearer share

Speaker : Grace Siow, Director, Tricor Hong Kong

Ms. Siow possesses more than 20 years of experience in the company secretary profession. She is familiar with the Companies Ordinance as well as compliance work for offshore companies. She is now a Director of Corporate Services of Tricor Services Limited and has been providing corporate secretarial and compliance services to Hong Kong listed companies as well as multinational, private and offshore companies.