Corporate Law Evolution At Its Best

(A synopsis of the recent amendments to the BVI Business Companies Act)

The renowned BVI Business Companies Act which came into effect 2005 and modernised the BVI corporate law regime promulgated under the earlier International Business Companies Act of 1984, has been further enhanced through amendments under the BVI Business Companies (Amendment) Acts, 2015 and 2016 (collectively, the Amendment Act). The Amendment Act was derived from consultations between the BVI Financial Services Commission and private sector firms including O'Neal Webster. Most of the amendments under Amendment Act took effect on January 15, 2016 except provisions relating the registration of information in relation to directors, which will take effect on April 1, 2016.