I have a British Virgin Island company that I no longer need, the registered agent says we need to liquidate the company and appoint a liquidator to sign dissolution documents. I was surprised that our registered agent does not provide a liquidator, so we have to find one. Does anyone know who provides the service to act as liquidator?
BVI Company Liquidation/Dissolution
- Thread starter islandnights
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They say if you let the company be struck off for not paying the annual registration you still need to to file EC (economic substances) reports for the next 7 years to be in good standing.
To update this thread, I have had two different BVI lawyers confirm that when a company is struck off it is still liable to file Economic Substance reports for the following 7 years.
The company won't be in good standing anyway, since it doesn't pay annual fees or the dissolution fee. I don't see any incentive for filing the substance reports in this case...?
The incentive is; Failure to do so or provide false information will be subject to a fine of up to USD75,000 and/or a prison term of up to 5 years for the individual.
Anyhow for those interested, if you phone around and speak to BVI lawyers you will eventually find one who can act in the capacity as a liquidator.
Anyhow for those interested, if you phone around and speak to BVI lawyers you will eventually find one who can act in the capacity as a liquidator.
Sure, just as not paying the annual fee results in supposedly huge fines and threats before the company is struck-off (and then you are still liable for those fees+fines).
These are not enforceable.
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