The BVI Business Companies Act, 2004 is the primary legislation that regulates registration and operation of companies in the BVI. You will find below the key extracts from the BVI Companies Act along with the full act.
the name of a limited company shall end with the word “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme”,“Sociedad Anonima”, “Ltd”, “Corp”, “Inc” or “S.A.”
(1) A company shall, at all times, have a registered office and agent in the Virgin Islands.
(2) The registered office of a company is the place specified as the company’s first registered office in the memorandum and is a physical address.
§96. A company shall keep the following documents at the office of its registered agent:
The memorandum of a company shall state:
(1) The business and affairs of a company shall be managed by, or under the direction or supervision of, the directors of the company.
(4)A company shall, at all times, have one or more directors.
(5) Subject to subsection (4), the number of directors of a company may be fixed by, or in the manner provided in, the articles of the company.
(6) If at any time a company does not have a director, any person who manages, or who directs or supervises the management of, the business and affairs of the company is deemed to be a director of the company for the purposes of this Act.
A share in a company confers on the holder
(1) Subject to the memorandum and articles of a company,
(2) The par value of a par value share may be a fraction of the smallest denomination of the currency in which it is issued.
Where a company has been struck off the Register, but not dissolved, the Registrar may, upon receipt of an application in the approved form and upon payment of the restoration fee and all outstanding fees and penalties, restore the company to the Register and issue a certificate of restoration to the Register.