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BVI IMPORTANT ANNOUNCEMENT

** ACTION REQUIRED **

Dear Client,


Please note that the BVI Mutual Legal Assistance (Tax Matters) (Amendment) Act, 2012, published in the Official Gazette on November 26, 2012, establishes that it is mandatory for all BVI companies to keep reliable accounting records.


Reliable accounting records shall include sufficient information to explain the company’s transactions and determine the financial position of the company with reasonable accuracy. The Amendment Act also specifies that accounting records shall be kept for a minimum of five years from the date of transactions. [Section 5A (b)]


As a “Registered Agent”, we must maintain a written record of the physical address of the place where the accounting records of its companies are kept. The BVI Company that fails to comply with these requirements is liable to a fine of US$10,000 as stated in Section 98 (2) of the BVI BC Act, 2004.


Please note that a company that does not keep accounting records address at the registered agents’ office is currently not compliant with the law. We will require your immediate attention to this notice.


If your company does not keep sufficient accounting records, we can help you comply with this requirement by producing the accounts for your entities. For further information or assistance, please send us an email at This email address is being protected from spambots. You need JavaScript enabled to view it. for more information.


Required Action: Please complete the below form and send it to us immediately to avoid applicable penalties.

Notice of Location of Records

Mutual Legal Assistance (Amendment) Act, 2012


Panocean Secretarial Services Limited
April, 2013