BVI Company Restoration
If your BVI company has been struck off or dissolved we can assist you with having it restored to the Companies Register. To restore your dissolved or struck off company and continue trading you need too bring the companies filings up-to-date.
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 BVI Registry of Corporate Affairs showing struck off or dissolved status
- 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 company cannot be restored to the BVI Register and all assets ceased by the BVI government.
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 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
After the application is made to the registry or Court and the order granted, the Corporate Registry will indicate the amount of renewal and penalty fees owing in order to bring the company into Good Standing, and once that amount is settled a Certificate of Restoration will be issued.
A company that fails to pay its licence fee will incur a 10% penalty automatically, with this penalty increasing to 50% if the licence fee still remains outstanding 6 months later.
Company Restoration Form
If you require your company restored please complete our form and we outline our fees and timescale.