Are there restrictions on the types of commercial transactions that BVI companies may undertake?
Generally, there are no restrictions, as BVI companies are designed to be highly flexible. However, if a company intends to engage in regulated activities—such as banking, investment services, or insurance—it must first obtain the appropriate license from the BVI Financial Services Commission (FSC).
Are written employment contracts required?
Yes. The Labour Code stipulates that employers must provide a written statement of the terms of employment within seven days of the commencement of employment.
Can a BVI company be converted to another legal structure?
Yes, provided that the conversion complies with the relevant BVI legislation.
Can a BVI company be re-domiciled to or from another jurisdiction?
Redomiciliation of companies into and out of the British Virgin Islands is permitted, subject to compliance with applicable local regulations
