The British Virgin Islands Financial Services Commission (FSC) has announced additional services at the Registry of Corporate Affairs to improve service levels, with effect from November 2015.

A Premium Services Department will be established to provide express service for time sensitive transactions, with extra fees applying. These transactions will include filings for time sensitive, complex and special transactions including: continuations, mergers, amendments, registration of charges and notice of change in shares.

The FSC has also announced the introduction of VIRRGIN Lite to users located in Hong Kong for external access to the online Registry system from outside the BVI. A limited number of natural person user accounts will be available to each licensee. Transactions such as name reservations and company searches can be performed. External users will also have to have the ability to commit funds from the licensee's local deposit account.

To support the additional services, the Registry will process transactions up to 10:00 p.m. daily (local BVI time). The FSC's Finance Division will also operate extended hours, accepting and processing deposit requests to 5:30 p.m. daily. 

Further details, including the exact date when the above comes into effect, the additional fees payable, etc., have not yet been released.  We will inform further when this information is available.  In the meantime, clients may continue to take advantage of OIL's 24 hour name check service.

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