Recovery Continues: New Developments in the BVI Financial Services Industry

We are pleased to report that substantial progress is being made in the restoration of the financial and legal services available on Tortola. The backlog of past filings has been cleared. The BVI’s online incorporations system, VIRRGIN, is fully functioning. Regulatory submissions can now be completed electronically and on-island banking services returned to normal operations last week.

The Registry of Corporate Affairs is now operating daily from 9:30 a.m. to 2 p.m., enabling industry to perform company searches and make full BVI BCA filings and

Operations have resumed at the Registry of the Supreme. Outstanding search applications continue to be processed and will be returned once payment has been completed. The resumption of physical searches, probate, registration, and other services at the new temporary location of the High Court Registry, Second Floor, is expected to be announced shortly.

A temporary extension of name reservations has been announced. To facilitate name reservations that may have expired during the passage of hurricanes Irma and Maria, the Registry of Corporate Affairs has advised that all company names reserved during the period 4th September, 2017 to 31st October, 2017 will remain reserved until 15th November, 2017.

The Registrar of Trade Marks, Patents and Copyright has declared under the rule 89 (1) of the Trade Marks Rules, 2015 that the normal operation of the Registry was interrupted for the period of 5 September,2017 and 5 October, 2017 for the purposes of the Trade Marks Act, 2013. Any deadline for filing or submission of documents between 5 September 2017 and 5 October, 2017 is suspended until 6 October, 2017. Please be guided accordingly.

The Terrence B. Lettsome International Airport resumed commercial flight operations on Monday, 2nd October. The airport will operate from 7:30 a.m. to 5:00 p.m. daily, with night operations to resume in the near future. (Beginning 6th September, the airport served as a vital link for humanitarian, relief, and evacuation flights following the impact of Hurricane Irma.) 

Telecommunications service throughout the BVI is improving every day and the Government is looking at ways to relax rules on work permits and reduce tariffs on building materials in order to expedite rebuilding.

We at O’Neal Webster sincerely appreciate the patience shown by our loyal clients, associates, and friends over the past few weeks. We look forward to serving your complete needs as we return to normal service. Please contact Managing Partner Kerry Anderson for questions or additional information.