What is the effect of restoration?

Once a company has been restored to the register, it is deemed to have continued in existence as if it had never been dissolved. The company's property that vested in the crown bona vacantia will be returned to the company.

When does the restoration application need to be made?

The restoration must be made within five years from the company’s dissolution date.

However, if the company was dissolved before 1 January 2023, the application can be made any time before 1 January 2028 or within 10 years of the company's dissolution date (whichever date is earlier).

What are the two (2) types of restoration of BVI companies?

Administrative restoration and Court restoration