The majority of restoration cases in the BVI involve companies that continue to own either valuable real, personal, or intangible property, or that desire to continue to operate as a going concern. It is often the case that property had not been effectively disposed of, and restoration is necessary in order to … See more The Registrar of Corporate Affairs (Registrar) has the power to strike a company off the Register of Companies (the Register) where … See more Any property not disposed of prior to a company’s dissolution is deemed to be owned by the BVI Government. However, if a company is restored, any tangible property that has not been disposed of must be returned to … See more A company is restored effectively on either the date and time that the sealed order of the court is filed, or where applicable, the date of the court order or other date specified in the order. When a company is restored to the … See more In Patrick Smulders v Registrar of Corporate Affairs and Financial Secretary,Adderley J held that there must be an identifiable special or beneficial purpose for … See more WebJun 30, 2024 · Restoration of a BVI company after striking off. A creditor or shareholder may, in certain circumstances, apply to restore a struck off company or unwind a …
British Virgin Islands: BVI Business Companies (Amendment) Act …
WebJan 16, 2024 · A company dissolved following voluntary or Court ordered liquidation can only be restored into liquidation. Therefore, an essential step to take in applying for the restoration of a company is to find a BVI licensed insolvency practitioner who will agree to act as liquidator of the restored company. WebWhen 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 … osteoeffect
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WebSep 21, 2024 · Currently, the BVIBC Act provides a seven (7) year period between when a company is struck off the register of companies and when it is deemed dissolved by law. That regime changes with the new amendments. A company that is struck off the register will be dissolved on the date the Registrar publishes notice of the striking-off in the Gazette. WebOct 11, 2024 · A BVI company has no limit on its duration (unless provided otherwise in its memorandum or articles). Indeed, this firm continues to act for many companies … WebJun 22, 2024 · BVI Business Companies struck off the Register on or before 15 October 2006 were dissolved after having been struck for a continuous period of 10 years. Any company struck after 15 October 2006 is dissolved after being struck for a continuous period of seven years. osteo eltham