An update on our BVI operations

1. Is BVI generally open for business and operational?

   Yes, and for many professional services businesses it is very much business as usual for the sector. We are able to facilitate transactions and provide advice and assistance for our BVI clients via our team members who are based in other offices. We will make a graduated return to the BVI over the coming months, ensuring that as it does so, there is no interruption in the provision of its services.
   
   

2. Who can I contact for my BVI business and how do I do that?

   In the first instance please get in touch with your usual Mourant Ozannes contact. Alternatively you can also contact your registered agent or the FSC.
   
   

3. Is the BVI's infrastructure ready and able to handle the aspects of a transaction closing?

   Please be reassured that most closings of transactions are done electronically in any event. From a BVI law perspective, it is generally not necessary to have physical closings and, if a physical closing is anticipated, it does not need to be in the BVI.
   
   With regard to conducting public searches on BVI companies for the purposes of completion of transactions, we can conduct company searches at the BVI Registry of Corporate Affairs and court searches at the Court Registry in the usual manner.
   
   

4. I need to incorporate a BVI company – can I still do so?

   Yes. The BVI Financial Services Commission re-opened the Registry of Corporate Affairs on 12 September 2017 and we are able to file, via its online portal, VIRRGIN, incorporation documents and other documents and to register charges, amendments to memorandum and articles of association, etc. in the usual way.
   
   

5. I have a BVI company but cannot contact the registered agent. What sort of data backup can I expect?

   The BVI Financial Services Commission, which houses services such as the corporate registry and its online company registration portal VIRRGIN, is operational. We are therefore able to conduct company searches and make all the usual corporate filings (e.g. incorporation documents, register of charges, name changes, amendments to memorandum and articles of association etc.).
   
   Many BVI Registered Agents, have activated their business continuity plans and a significant level of services and operations continue either on island or via international networks. We would advise that you contact the Registered Agent directly via email and phone.
   
   

6. Is my information secure?

   Yes. All of our data is encrypted, and we have robust information security systems.
   
   

7. I am buying a property that is owned by a BVI company. Can the transaction still complete?

   Yes, assuming that the property is not located in the BVI and all necessary corporate authorities and diligence has been conducted on the BVI company, the transaction should be able to complete as originally planned. Where searches are required to be done on the BVI company, company searches are available in the normal way via the BVI Financial Services Commission's online portal, VIRRGIN, and court searches are also available electronically. If we are required to issue a legal opinion on the BVI company, we are also able to do so in the usual way.
   
   Where any filings are required to be made with the BVI Registrar of Corporate Affairs, this can be done via the BVI Financial Services Commission's online portal, VIRRGIN.
   
   

8. Can you conduct local searches in the BVI?

   Yes we can, in the usual way, conduct searches at the Registry of Corporate Affairs and the Court registry. Due to the BVI Court Registry having limited operations staff, it is currently taking up to one day longer than usual to obtain results of court searches. We would advise you to give us sufficient time to manage this, so that we can get the results in time for any anticipated closings.
   
   

9. Is the BVI Commercial Court still functioning, and if not, what happens to ongoing cases that are being heard there?

   Yes, the BVI Commercial Court is functioning. The Eastern Caribbean Supreme Court has announced the temporary re-location of the Commercial Division of the High Court to Castries, Saint Lucia and two Commercial Court judges began hearing matters on Monday 25th September 2017.
   
   

10. What to do when the need arises to serve documents on a Registered Office, but that RO is closed / has temporarily relocated outside of the BVI?

    The Eastern Caribbean Supreme Court has issued a practice direction covering Commercial Court matters which permits electronic service for documents being served pursuant to the Court rules. Service of documents which are not being served pursuant to the Court rules must still be delivered, in hard copy, to the Registered Office in the BVI, and we are able to arrange that. To ensure that the documents come to the attention of the appropriate person, we would also advise that the documents be emailed to the relevant registered agent.

If you have any further questions or need to get in touch, please contact one of our team.