Companies – Key Points When Taking Security

Registration of security granted by a BVI business company ("BVI BC")

Where security is granted by a BVI BC, lenders should ensure the security package is properly registered for BVI law purposes as soon as the security documents are executed. To achieve this:

1. Each BVI BC which has granted security must enter particulars of the security interests created pursuant to each relevant security document in its internal non-public register of charges.
2. Lenders are able to register, or ensure that the BVI BC registers, particulars of each relevant security document in the BVI BC's publicly available register of registered charges maintained by the Registrar of Corporate Affairs in the BVI (the "Registrar").