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Transfer to BVI: Migration or "Continuation"
The BVI allows corporate entities registered in other jurisdictions to continue their corporate existence in the BVI under BVI law. Companies in politically unstable jurisdictions can therefore benefit from this procedure.
Any non-BVI registered company can continue its existence in the BVI under provisions of the Business Companies Act, provided that it is not insolvent or in the process of liquidation. Under BVI law such a foreign company continues its legal existence subject to the laws of the BVI.
Such a continuation may be advantageous if the original corporate domicile:
- is experiencing civil or financial instability; or
- it has introduced unwelcome new legal obligations;
- or there are other concerns about the future stability of the original jurisdiction of incorporation.
The continuation of a foreign company as a BVI company does not affect the continuous history of the company nor its assets, rights, obligations or liabilities.
A BVI company can also continue as a company incorporated under the laws of a jurisdiction outside the BVI.
Jordans have implemented the continuation of foreign companies into the BVI and if required we can organise the continuation of BVI companies in other foreign jurisdictions.