Re-registration of Companies Act Companies under the BVI Business Companies Act

Companies previously incorporated under the Companies Act (Cap 285) now have until November 30^th 2008 to voluntary re-register under the new BVI Business Companies, Act 2004 as amended. Those companies who did not meet this dead line will be automatically re-registered on January 1, 2009.

There are very significant differences in the way that the Act applies to automatically and voluntarily re-registered CapCos. It is therefore very important for directors and shareholders of these companies to consider carefully whether it would be better for their company to apply to re-register voluntarily or whether automatic re-registration would be preferable.

For further information please contact Mrs. Janice Skelton at email jskelton@ccslbvi.com