Amended Procedural Guidance for filing particulars of Directors and VIRRGIN Subscription Manager

Link:http://corporatecommunications.bvifsc.vg/acton/ct/10144/s-008c-1607/Bct/l-0011/l-0011:5/ct0_0/1?sid=TV2%3AZvKonDkMA

The Commission acknowledges the challenges with the implementation of legislative reform for the filing of particulars of directors (Register
of Director [RoD] filings). We are working extensively to deliver improved results that support efficient business operations and achievement of the primary objective.

Challenges Resolved (between 4 and 15 July)

The following challenges were recently resolved:

1. Batch filing with a single confirmation for the batch
2. Address fields expanded
3. Date format transposition
4. Filings for companies continued into the Virgin Islands
5. Dedicated handling of administrative errors to earlier filings

Updated versions of the Commission’s template for RoD filings are available on the Commission’s website and from within the VIRRGIN system. Agents are reminded that use of the template is NOT mandatory. For assistance with preparing and submitting data files generated from a private information system, please contact Perline George using rod@bvifsc.vg.

Correcting Administrative Errors (RoD filings)

The Registry is currently able to assist Agents with correcting errors in the RoD filings using the following mechanism:

To request corrections to a RoD filing please email a completed Request for Amendments to Particulars of RoD form to the Registry using rod@bvifsc.vg .

1. Agents will receive a transaction number as a reference when the request has been received.
2. Amendments will be processed within 36 hours of receipt and on completion, the Agent will receive confirmation
3. Administrative errors will only be processed one time for each company without charge. Beginning with the second request to correct an administrative error the charge will be the same as for an amendment to the register.
4. Administrative errors will only be corrected without charge if they are submitted for processing within 48 hours of the original filing. After 48 hours the amendment charge will apply.
5. Please direct inquiries for amendments to RoD filings to the attention of Perline George via email. To ensure a transaction record of your request please submit your request via email ONLY to (rod@bvifsc.vg).

Challenges currently being addressed:

•  Register Amendment/Correction facility
•  Review of Country List (ISO)
•  Additional guidance on filings for continuations
•  Dedicated unit for queries, challenges and corrections
•  Batch filings for incorporations after 1 April

Requests under consideration

•  Extension of fee neutral period

•  Addition of foreign character names (directors) on registers

VIRRGIN Subscription Manager

Beginning Monday, 18th July, the Commission will accept applications for VIRRGIN Administrators. The VIRRGIN Administrator, which is a new concept, requires firms to identify a BVI based (resident) individual who will manage the registration, activation and deactivation of users and access rights to the system. Guidance on the process for confirming the VIRRGIN Administrator will be available on the Commission’s website from Monday, 18th July.

Once a firm has confirmed its VIRRGIN Administrator and has gained access to the Subscription Manager, it may begin registering users for the VIRRGIN Lite service to be available from Hong Kong. VIRRGIN Lite is scheduled to go live on Wednesday, 7th September, 2016. Firms will need to provide a static IP address to the Commission to facilitate connectivity to the service for registered users. Please direct any technical questions regarding VIRRGIN Lite connectivity to IT@bvifsc.vg.