Things you must know about The BVI Business Companies Amendment Act 2022
                     Presented by
CCP financial 
consultants limited 
ccpbvi.com
Things you must know about The BVI 
Business Companies Amendment Act 
2022
The British Virgin Islands ("BVI") continues to 
demonstrate its commitment to ensuring that its 
financial services industry is aligned with 
international best practices, as set by bodies such 
as the Global Forum on Transparency and 
Exchange of Information for Tax Purposes and the 
Financial Action Task Force. Significant changes 
have been made to the BVI Business Companies 
Act, 2004 with the recent passing of amendments 
that will come into force on 1 January 2023. 
Public availability of 
At pdreisreent,c tthoe rna mneas mof peesrso:ns performing as directors of BVI companies are not 
publicly accessible though this information is filed with the Registrar. Clients should take 
steps to ensure that the register of directors is up to date with the current directors to 
comply with the new requirement. The information which will be publicly available will be 
limited to the name of the director. 
Register of Members and 
VEoxcetpitn gsu cRh iignfohrmtasti:o n is already integrated in a 
company's memorandum and articles of association, 
pursuant to the Amending Act, a company's register of 
members will require including the nature of any voting 
rights.
Bearer Share 
ATbheo claiptaiboilitny :to subject new bearer shares has 
been prohibited for some time and any existing 
bearer shares are 'immobilized' if not held by a 
licensed custodian and are subject to firm record 
keeping obligations. 
New Annual 
FExicnepat nforc cioamlp aRniees treugurlnate:d by the BVI Financial Services Commission, such as Banks, Insurance companies, Funds and 
Fund Managers, there is general record keeping requirement, but there is not firm requirement for a company to maintain 
financial records in a prescribed form or to file an annual return.
• Filed with its registered agent within 9 months of the end of the company's calendar year. If a 
company's financial year is not a calendar year, the company's financial year, and retained by the 
company's registered agent for a minimum period of five years.
• The specific form of the Annual Return has not yet been finalized, but we expect this to comprise a 
simple balance sheet and profit and loss.
• The annual financial return will not be available for public search nor will such information be filed 
with the Registrar of Corporate Affairs (the "Registrar") or any other regulatory authority. However, a 
registered agent will have an obligation to inform the Financial Services Commission if it has not 
received the return within 30 days of the due date.
• A company which forms part of a group of companies that prepares and maintains consolidated 
accounts will be allowed to file with its registered agent, the consolidated accounts of the group.
Strike Off and 
BVI Dcomispsanoiels uarte iuosunal:ly "struck off" the register of companies by the Registrar where 
there has been a failure to pay annual registry fees, the company fails to assign a 
registered agent or the registered agent resigns without being replaced. 
Restoring a dissolved 
The cAmoemndinpg aAcnt iynt:roduces a simpler process for restoration under which a company can 
now be restored by means of an application to the Registrar within a period of five years 
from the date of dissolution. 
Continuation outside 
the BVI:
With effect from 1st January 2023, a company that wishes to continue outside of the BVI will be 
required to give advance notice to its secured and unsecured creditors and members of the proposed 
continuation. 
 Advertise notice of its intention in the BVI Gazette.
 Let know its creditors and members in writing of its intention.
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