BVI Business Companies (Amendment of Schedule 1) Order 2021 and Financial Services (Limited Partnership Fees) (Amendment) Regulations 2021 FAQs

Summary

This is a set of FAQs issued by the BVI Financial Services Commission explaining the practical effect of the BVI Business Companies (Amendment of Schedule 1) Order, 2021 and the Financial Services (Limited Partnership Fees) (Amendment) Regulations, 2021. It clarifies how new fees for physical copies of certificates and documents will be applied by the Registry, rather than introducing new legal obligations itself.

• Certificate of good standing fee: The underlying fee is not increased, but a physical copy now costs an additional 50.00 dollars on top of the electronic copy.
• One free physical request: A company that only received an electronic copy on the filing date may later request one physical copy without it being treated as a duplicate; further requests are treated as duplicate or certified copies.
• Scheduled certificates: For certificates with a fee explicitly stated in Schedule 1 (e.g. good standing, name change, dissolution), a physical copy still incurs the additional 50.00 dollar charge if an electronic version exists.
• Unscheduled documents: Certified or uncertified documents/certificates without a specified fee in the schedule (e.g. memorandum and articles, register of directors, copy of a document) cost 100.00 dollars.
• No certified good standing certificates: The Registry does not issue certified certificates of good standing, despite Schedule 1 referencing this; it is flagged as a likely drafting error carried over from section 233(c) of the Act.
• Electronic certificates default: Electronic certificates are issued automatically for most transactions and are not optional.
• No electronic version available: Where no electronic certificate is issued for a transaction, no fee is charged for the physical copy.

The FAQs are explanatory guidance for registered agents and companies dealing with the BVI Registry and do not themselves set out new filing deadlines.

Applies to

BVI business companies, limited partnerships, registered agents