A Guide To Taking Security

Registration of security granted by a BVI business company

Following execution of the security document(s), the secured party will want to ensure that particulars of the security are filed with the Registrar of Corporate Affairs in the British Virgin Islands (the "Registrar"). Each BVI business company providing the security and the secured party has the option of making an application to register the security in the register of registered charges held by the Registrar. If the security is duly registered with the Registrar it will, in respect of the secured assets, have priority over any security interests which are not registered or which are subsequently registered in the register of registered charges in respect of those assets. Registration of the security in this manner also provides constructive notice of the existence of the security to third parties. The security provider should deliver a copy of the certificate of registration of charge and the stamped