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BVI Launch of Electronic Certificates of Good Standing

December 18, 2014 - by Nida U.

BVI Launch of Electronic Certificates of Good Standing

Effective Monday, 8 December, Certificates of Good Standing produced by the Registry of Corporate Affairs can be issued electronically for companies and limited partnerships.

Certificate of Good Standing (CGS) is a formal document that is issued by the Registry of Companies. CGS confirms that the status of a company is in good legal standing, that the company has not filed for dissolution or been struck-off. CGS may be required in a number of cases, but the most typical example for CGS request is banks, they require CGS for all companies that are registered more than a year ago, because by fact during the first year of registration company will always maintain good legal standing.

CGS can now be delivered to clients locally and internationally in a faster manner, as Agents can request for electronic copy of CGS to be delivered directly to a third party.

The electronic copy of CGS will bear the same security features as traditional hard copy certificates. CGS can be authenticated on Financial Services Commissions website (www.bvifsc.vg.).1

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