AMNESTY FOR BVI COMPANIES
Attractive opportunity for BVI companies that are not in good standing
Under current legislation, each BVI company must have its current Register of Directors (ROD) filed with the Registry. Substantial penalties to the tune of thousands USD apply for late filings. However, the BVI Legislative Assembly just enacted legislation to reduce the maximum penalty for late filing of Register of Directors. Effective, September 1, 2018, the amended laws are as follows:
- Companies which have paid more than US$ 5,000 in penalties for failure to file ROD are entitled to a refund of the amount over US$ 5,000.
- Companies which would like to be restored can now do so for a maximum ROD late filing penalty of US$,5000.
- Companies which fail to file a ROD before December 31, 2018, may be struck off the Register of Companies.
PUGNATORIUS Ltd. provides – together with a cooperation partner – efficient support and assistance to shareholders that like to restore their companies at this much-reduced penalty.
PUGNATORIUS Ltd. is a Bangkok-headquartered specialist provider of bespoke transactional legal and tax advice on foreign investments in Thailand’s manufacturing and service industries as well as property developments and acquisitions.