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Industry Updates

British Virgin Islands Companies - Top Tips For Good Corporate Housekeeping

30 Mar 2012

The corporate governance framework of the BVI is intended to ensure that your BVI company is a flexible vehicle, not subject to duplicative or onerous corporate governance requirements. However, BVI is a reputable transparent jurisdiction and there are a number of basic minimum requirements under BVI law with which your company must comply.

Kieran Walsh of Maples and Calder's BVI office and Matthew Gilbert of the firm's London office consider how you can ensure that your BVI company remains compliant with the main requirements of the BVI Business Companies Act, 2004, avoids fines and penalties, does not inadvertently breach financial covenants the company may have entered into, and that actions of the company are not invalidated on account of a failure to follow some basic requirements.