BVI Company Restoration
Do you need it Restored to Unfreeze Assets or Continue Trading? Contact us for an expert and reliable BVI Company Restoration.
If your BVI company was struck-off the register at the Registry of Corporate Affairs all its assets are held by the registry until your company is restored. Once your company is restored to the register it is considered to have never been struck-off, all assets and property held by the registry are returned to the company name, and accessible for directors. To restore a company to the register a BVI company restoration is required, along with payment of all outstanding licence fees, penalties and restoration fees.
We can assist with every step of the application process to have your BVI Company Restored.
BVI Company Restoration fees
Or service fee: from £1600
BVI Company Restoration from fees:
Compliance and Due Diligence fees Including:
- BVI Registry Company Search: £148
- Due Diligence for each director, shareholder and for the Ultimate Beneficial Owner: £80
- Certifying documents for the BVI Registry, articles, shareholders, directors: £180
- Director Register Drafting and Filing fee: £180
- BOSSE – Beneficial ownership and compliance filing fee: US$750
- Economic Substance Administrative and compliance fee: £450
- Economic Substance legal assessment fee: TBA
- Gazette Notices: US$75
Registry and Penalty fees Including:
- BVI Penalty for Non-Filing of Directors Register: US$5000
- BVI Financial Services Commission – Restoration fee – US$1500
- BVI Financial Services Commission calculation of Penalty fees: £75
- BVI Financial Services Commission – Late Filing Penalty fees: TBA
- Resolution to change BVI Registered Office and filing fee: US$150
- Resolution to appoint BVI Registered Agent and filing fee: US$150
- 3% Bank transfer fee – for penalties, fees and charges to the BVI to cover exchange rate, bank charges and fees: TBA
BVI Registered Agent fees Including:
- BVI Registered Office – outstanding fees for previous years: US$525 – US$675 per year
- Resolution to appoint new BVI Registered Agent form R303: US$100
- Transfer in BVI company fee: US$480
- Drafting registry forms: TBA
- Liaising with the Financial Services Commission and the BVI Register of Companies: TBA
Additional Company Restoration fees
2021 Renewal fees – £1350 Including:
- Provision of Registered Office and Resident Agent, Government Fee, Company Secretary, Directors Register Maintenance
Non Filing of Director Register penalty – US$5000
- BVI Companies that were given until March 2017 to file the Registers of Directors at the Registry of Corporate Affairs. This is the maximum penalty if this was not filed with the Registry of Corporate Affairs
Court Restoration additional fees from – US$5000
- BVI Legal fees including preparation of documents, filing at High Court Registry, and attending court
- BVI Financial Services Commission Court Restoration fee
- Lawyers draft Affidavit
BVI Company Restoration Timescales
- Administrative restoration takes from 3 – 6 weeks
- Court Restoration takes from 6 – 12 months
BVI Administrative Company Restoration Procedure
An administrative company restoration is submitted to the BVI Registry of Corporate Affairs if the company was struck-off the register less than 6 years ago. A successful application requires the following documents and procedure to be met:
- The application must be made within a 6 year period following the dissolution of the company.
- A shareholder or director must swear an affidavit stating the circumstances surrounding the non-payment of fees and stating that the company has assets and/ or is still trading
- The company register must confirm in writing that assets are still held in the company’s name
- A certified copy of the title of property or bank statement
- Copy of a company search from the Registry of Corporate Affairs confirming the company has was dissolved
- Copy of the Certificate of Incorporation
- File the register of directors with the BVI Registry
- Filing of the application with the Court if necessary
If the company has been struck-off the register for over 6 years the company is dissolved and an application to the BVI Court will be required.
BVI Court Restoration
Restoring a BVI company that was dissolved over 6 years ago will require authorisation from the commercial Courts. An application to the court must be made within a 10 year period following the dissolution of the company.
Court Order restoration followers the same procedure as administrative restorations, apart from additional legal fees, which are:
- Payment of Financial Services Commission legal costs
- Filing at High Court Registry
- Attending Court hearing
After 10 years of being dissolved a BVI company cannot be restored to the BVI Register and all assets ceased by the BVI government.
BVI Company Inactive or Struck-Off
If your BVI company has unpaid licence fees less than a year old it will have an Inactive Status at the Registry of Corporate Affairs, therefore the company is not in Good Standing, but has not yet been struck-off. Your BVI company must pay its licence fee and the appropriate penalties in order for it to be restored. While your company is inactive:
- No Certificate of Good Standing or Certificate of Incumbency can be issued
- No filings can be made with the BVI Registry
- The Registrar sends a notice warning the company that it will be struck from the BVI Register in 30 days
- Neither the company nor any directors or shareholders may carry on any business or in any way deal with the assets or affairs of the company
- It does not affect the liability of any of its shareholders and directors. Nor does it prevent the company from incurring liabilities, or any creditor from making a claim against the company
Late Filing Penalties
Company Directors and Shareholders
When a BVI company is restored, the previous Directors, Company Secretary, Shareholders are automatically assumed to have continued. The Register of Directors must be filed with the Registry of Corporate Affairs as soon as the company is Restored to the Register.
Transferring BVI Registered Agent
A BVI company can only be restored by the registered agent on record or the agent must be changed to a new agent undertaking the BVI company reinstatement. We can organise the transferring of registered agent on your behalf.
BVI Company Restoration Enquiry
Please complete our Company Restoration form for a quotation and timescale for to have your company restored to the BVI register.