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The British Virgin Islands company law is the law that governs businesses registered in the British Virgin Islands. It is primarily codified through the BVI Business Companies Act, 2004 , and to a lesser extent by the Insolvency Act, 2003 and by the Securities and Investment Business Act, 2010.
The BVI Financial Services Commission is an autonomous regulatory authority responsible for the regulation, supervision and inspection of all the British Virgin Islands financial services including insurance, banking, trustee business, company management, mutual funds business, the registration of companies, limited partnerships and intellectual property.
In Pakistan, a business license is needed when you want to start a private limited company or a limited liability partnership (LLP) firm. There are actually various forms of business licenses needed for various activities carried out by a business. e.g. to be able to Import or export goods and services, you need to take IEC Registration.
The British Virgin Islands Financial Services Commission dealt with both issues in a single legislative swoop. [3] The BVI Business Companies Act is actually based upon a New Zealand statute (as opposed to the International Business Companies Act, which was based on Delaware corporation law). Conscious of how widely the earlier legislation had ...
register or a list of a specified type of regulated entities or activities — contains entries on companies officially authorized to perform a specified type of business, where prior obtaining of a permit, a license, a concession, or registration on such a list or register is a prerequisite required by law. Depending on situation, regulation ...
British Virgin Islands contract law is almost entirely based upon English common law. [19] The British Virgin Islands has no equivalent of the Contracts (Rights of Third Parties) Act 1999, and applies strict privity of contract. Similarly there is no equivalent to the Unfair Contract Terms Act 1977 in the territory.
The International Business Companies Act, 1984 [1] was a statute of the British Virgin Islands which permitted the incorporation of International Business Companies (IBCs) within the Territory. The Act played in a huge role in the economic and financial development of the Territory in the 1990s.
The rights associated with belonger status normally include the right to vote, to hold elected office, to own real property without the necessity for a licence, to enter and reside in that territory without immigration restrictions, and to freely accept employment without the requirement of a work permit.