Responsibilities of the Registered Agent

In the British Virgin Islands (BVI), the role of the Registered Agent is essential for the incorporation and ongoing maintenance of companies. It is a legal requirement established under the BVI Business Companies Act, which mandates that every company incorporated in the jurisdiction must, at all times, retain a duly licensed agent to act as its local representative and to ensure full compliance with all regulatory obligations before the Financial Services Commission (FSC).

Main Responsibilities

1. Company Incorporation

• Preparation and filing of the Memorandum and Articles of Association;

• Registration of the company name with the FSC;

• Management of the entire incorporation process in compliance with the BVI Business Companies Act.

2. Regulatory Compliance

• Collection and updating of Ultimate Beneficial Owner (UBO) information;

• Maintenance of all mandatory corporate records;

• Oversight of Know Your Client (KYC) and Anti-Money Laundering (AML) obligations.

3. Maintenance of Statutory Registers

• Register of Directors;

• Register of Members (Shareholders);

• Register of Charges, when applicable.

4. Official Point of Contact

• Receipt of official notices and correspondence;

• Liaison between local authorities and the company.

5. Annual Renewal and Maintenance

• Management of annual fee payments and company renewals;

• Ensuring that the company remains in Good Standing.

  
  

The appointment of a Registered Agent in the BVI is not merely a formality but a fundamental legal requirement for the validity and continuity of any company. Engaging a qualified agent — such as Aurora — ensures that all legal, regulatory, and compliance obligations are meticulously fulfilled, maintaining the company’s good standing and adherence to international standards required by financial institutions and regulatory bodies.