How to Transfer a BVI Company to a New Administrator: Step-by-Step Guide

Transferring the administration of a British Virgin Islands (BVI) company to a new service provider can be a smooth process if done properly. Whether you’re seeking better service, lower fees, or stronger regulatory support, changing administrators is a practical step that can be completed in 5 to 7 days.

In this guide, we outline the key steps, compliance requirements, and best practices to ensure your transition is seamless and fully compliant with BVI law.

Step 1: Identify the New Administrator

Select a reputable, experienced corporate services provider. Evaluate their expertise, service offering, responsiveness, regulatory standing, and fee structure to ensure alignment with your company’s specific needs.

Make sure the service provider has experience working in the BVI and handling wide-ranging projects and transactions.

Step 2: Initial Due Diligence and Compliance

Before onboarding, the new administrator will conduct preliminary due diligence, including:

• Request corporate document (Certificate of Incorporation, Memorandum and Articles, Register of Directors and Shareholders, etc.);
• Perform KYC checks, identifying and conducting background screening on directors, beneficial owners, and shareholders
• Confirm compliance with BVI Economic Substance Regulations and Annual Financial Return filing obligations.

Step 3: Formal Engagement and Agreement

Once due diligence is completed:

• An engagement letter is prepared outlining the scope of services.
• A board resolution approving the change of registered agent and registered office is prepared.

This document will be used for filing and notifying the current administrator.

Step 4: Notify the Existing Administrator

The company provides formal notice to the existing administrator outlining the intention to transfer administration. This involves:

• Sending the executed board resolution confirming the transfer.
• Instructions to prepare the corporate documents for release.
• Payment of the transfer filing fee ($200) and any outstanding fees.

Step 5: File the Change with the BVI Registry

The existing administrator files the Notice of Change of Registered Agent with the BVI registry and updates the company once filed. Confirmation receipt from the BVI Registry normally takes 1-2 days.

The new administrator will access the BVI registry and consent to the change.

At this point, the company will have been transferred.

Step 6: Post-Transfer Compliance Review

The new administrator typically conducts an internal compliance review:

• Ensuring registers are updated correctly.
• Reviewing any upcoming statutory obligations (annual filings, economic substance reporting, annual financial return).

Key Considerations When Transferring a BVI Company

• Timing & Coordination
  Ensure outgoing and incoming service providers are in sync to avoid missed deadlines or regulatory issues.
• Compliance
  Confirm that all prior statutory filings were completed by the previous administrator.
• Document Integrity
  Ensure that all corporate records transferred are accurate and complete.
• Your Rights
  If your company is in good standing, your current administrator cannot prevent you from transferring to a new provider.

Need Help? Speak to Our BVI Experts

Transferring your company administration doesn’t need to be difficult. By working with the right experts, you can switch providers efficiently and maintain full compliance.

Contact us today to speak with our BVI corporate services team and request a free consultation tailored to your business needs.