British Virgin Islands News – Introduces Electronic Certificate of Good Standing

 In British Virgin Islands

In its effort to improve service efficiency for persons doing business in British Virgin Islands, the Financial Services Commission (FSC) made an announcement on 8 December 2014 about delivery of electronic certificates of Good Standing produced by the Registry of Corporate Affairs (Registrar). This new process applies to requests for Certificates of Good Standing for both BVI Business Companies and BVI Limited Partnerships.

Transitional Period

From 8 December 2014 to 31 January 2015, when a request is made for a Certificate of Good Standing, the Registrar will issue an electronic certificate and a traditional hard copy of the certificate at no extra charge.

From 1 February 2015, Certificates of Good Standing will be delivered electronically as the default.  Requests for traditional hard copy certificates will be issued by paying an additional certificate fee.

How to verify the authenticity of the e-certificates

The genuineness of the e-certificates issued by the BVI Government can be verified on the following website http://www.bvifsc.vg.  Upon accessing this website, select “Certificate Verification from the Quick Links menu on your right hand corner and you will be required to type in the unique “Certificate ID” listed in the upper right hand corner of the document rather than the Company number; alternatively you may scan the same QR code reader.

For further information on changes to the regime and how they might affect you and your clients, please feel free to contact your KEY account managers.