Virgin Islands Sample Letter for Dissolution and Liquidation
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How to fill out Sample Letter For Dissolution And Liquidation?
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FAQ
Request for information on BVI registered entities can be made by submitting a completed Search Request Form (R820), which includes the instructions and applicable fees. Once the form is submitted, the search report will be sent within 24 hours.
The Act contains a number of specific features which are designed to make the British Virgin Islands more attractive as an offshore financial centre. These include: considerably restricting the requirement for corporate benefit. abolishing financial assistance in relation to company shares.
BVI Registered Agent Duties The registered address is the legal address of your BVI company, The Registered Agent is responsible for safe custody and maintaining of the Memorandum and Articles of Association, the Register of Members, the Register of Directors, copies of Resolutions, notices and filings.
Closing a BVI Company ? BVI Company Dissolution appointing liquidator. providing all liquidation documents. making statutory filings. publishing statutory adverts. obtaining the certificate of dissolution.
To collect and realise the company's assets; ? to identify all the valid claims against the company; ? to pay all the debts of the company; and ? to distribute the surplus to the members, in ance with their rights2. The voluntary liquidator is given extensive powers with which to undertake those tasks.
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A company may only be liquidated under the BVI's new rules if it has no liabilities ? or if it is able to pay its debts when they are due ? and the value of its assets equals or exceeds its liabilities. The liquidation process takes eight to 12 weeks on average.
Voluntary strike-off, also known as dissolution, places the responsibility for closing down the company firmly with yourself and other directors. Voluntary liquidation, on the other hand, is an official process undertaken by a licensed insolvency practitioner (IP).
