Harneys is a full-service offshore law firm offering expert legal advice on the laws of jurisdictions including the British Virgin Islands, Cayman Islands, Luxembourg, and more. Established in 1960, the firm has grown to 11 global locations with over 180 lawyers, serving top law firms, financial institutions, investment funds, and high-net-worth individuals. Harneys provides comprehensive legal support across transactional, contentious, and private client matters, often in collaboration with Harneys Fiduciary, which delivers corporate and wealth management services. Known for its role in shaping offshore jurisprudence, the firm also advises on legislative developments and excels in handling complex cross-border transactions and disputes.
Harneys is advising clients that there are new regulations
governing the use of restricted company names in the British Virgin
Islands.
The BVI Financial Services Commission (FSC) recently added 46
names to the schedule of restricted company names with the
publication on 29 August 2013 of the BVI Business Companies
(Restricted Company Names) Notice, 2013. The Notice, which revokes
and replaces a previous 2011 Notice, brings to 217 the number of
words or phrases whose use is restricted.
According to FSC guidelines the Registrar shall not
register a company that contains a restricted word or phrase in its
name unless the FSC has granted prior written consent for its use.
A non-refundable application fee of US$100 is payable by persons
applying to use a restricted name. The complete list of restricted
words and phrases is available here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
