ARTICLE · 09 FEBRUARY 2016

BVI Update: More Changes To BVI Legislation

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On 29 January 2016, the BVI Business Companies (Amendment) Act, 2016 (the "2016 Amendment Act"), was passed into law, retroactive to 15 January 2016.

British Virgin IslandsCorporate/Commercial Law

OIL Offshore Incorporations

Further to our previous updates (see updates dated 28 October 2015, 18 December 2015, and 12 January 2016) regarding changes to the legislation of the British Virgin Islands (BVI), some additional changes to the requirements for the filing of director information have recently been made.

On 29 January 2016, the BVI Business Companies (Amendment) Act, 2016 (the "2016 Amendment Act"), was passed into law, retroactive to 15 January 2016. The changes include longer periods for filing director information, less categories of information to be provided for each individual director, and a change to the penalty system, and should be seen as a positive development.

The new requirements for the filing of director information with the BVI Registry are as follows:

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