Transcription of BVI Business Companies (Amendment) Act, 2012 - Update
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BVI Business Companies (Amendment) Act, 2012 - Update
BVI Business Companies (Amendment) Act, 2012 - Update On 16 July 2012 the BVI Business Companies (Amendment) Act, 2012 (the Amendment Act) was passed into law. In addition to the Amendment Act, the BVI Business Companies Regulations 2012 (the Regulations) were accepted by the Cabinet in April 2012 and is expected to come into force alongside the Amendment Act. Background The BVI is still regarded as one of the world's leading offshore jurisdictions and much of its success can be attributed its corporate legislation and in particular the current BVI Business Companies Act 2004 (as amended) (the BCA). The BVI is keen to preserve the BCA's highly regarded identity in the global Business market place. The main aim of the Amendment Act and the Regulations is therefore is to further clarify a number of existing provisions and updating or adapting others to meet recent developments.
In addition to the Amendment Act, the BVI Business Companies Regulations 2012 (the Regulations) were accepted by the Cabinet in April 2012 and is expected to come into force alongside the Amendment Act.
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