Vanuatu Company Restoration – Re-registering
Companies who have been removed from the Vanuatu Financial Services Commission’s Register for any reason specified under the Companies Act 2009, must apply to have the company restored to the register.
If you do not re-register your company, this does not mean you have wound up or liquidated your company. Contracts you have signed with other parties will still be enforced against your company, loans will still be enforced against your company, and you may still be sued as a company.
If you do not re-register your company, under the Vanuatu Companies Act 2009, all of the assets of the company transfer to the Crown.
This means that your company will no longer own property, stock, equipment etc. You may find it difficult to do business with banks and other traders.
By restoring your company to the register, you will be able to continue with business as usual, as all assets automatically transfer back to the Company on restoration.
Vanuatu Company Restoration Fees
- Vanuatu Financial Services Commission Restoration fee US$250
- Annual Renewal fee USD$300
- Penalty fee per year USD$100
- Obtaining the file from the existing registered agent and upgrading the file, fee £120
- Our Assistance Fee to Restore Vanuatu Company £840
We also have a representation fee of £760 per year for acting as registered agent and registered office
Company Restoration Process
We will need to collect the company’s statutory files from the current registered agent and depending on the state of the files may need to undertake some due diligence for the Vanuatu Financial Services Commission.
We will the contact the Vanuatu Financial Services Commission to obtain what fees and penalties are outstanding.
In summary, you must apply for the company to be restored to the register. A form is available here. Complete the form carefully. You must also complete a late re-registration form. This is so you can provide Vanuatu Financial Services Commission – Register of Companies with all required details – eg shareholders, directors, addresses etc. A copy of the late re-registration form is available here.
The Registrar has issued a guidance note explaining the process and policy for restoration of companies who have failed to re-register by the deadline. A copy is available here.
Company Directors and Shareholders
When a BVI company is restored, the previous Directors, Company Secretary and Shareholders are automatically assumed to have continued.