Starting January 15, 2016 the Law that modified various aspects of the BVI Business Companies Act 2004 entered into force. The main amendment introduced by said law is summarized as follows:
The companies must keep their records updated.
Likewise, the inclusion of the arbitration clause has been allowed in the Articles of Association of the companies and sets the obligation of the Registered Agents to act according to the resolutions of the Company’s Board, among other changes introduced by said reform.
The referred reform has introduced amendments that in general have been well received by the financial market, reaffirming BVI as one of the leading jurisdictions in this area.
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