Applications for court-ordered restorations of dissolved companies are now submitted under “General Filing” in VIRRGIN. Specifically, these filings must be categorised as “Restoration by Court Order (existing dissolved companies).” This is a short-term solution until the permanent process is implemented.

Effective 7 April 2025, the filing permissions for court-ordered restorations have expanded. Now, applications can be submitted by:

• Existing registered agents
• Legal practitioners
• Incoming registered agents

This update improves the process by enabling smooth filing of essential post-restoration documents, including the appointment of the registered agent and the registers of members, directors, and beneficial ownership information.

Key compliance points include the following:

• Legal practitioners filing a restoration must notify the incoming registered agent promptly to ensure all requirements are met.
• Submitting a restoration application in VIRRGIN does not complete the process. Filing agents or legal practitioners are responsible for ensuring all additional steps are finalised.
• Legal fees payable to the BVI FSC must be settled to process transactions.

These measures are critical in preserving compliance during this interim phase. Full cooperation is expected as the BVI FSC works towards a permanent solution.

The BVI FSC will provide further updates on the finalised process in due course. For queries, industry participants are encouraged to contact support@bvifsc.vg.

Circular 15 can be found here.