In certain circumstances, FFP provides Registered Agent services, frequently in conjunction with being appointed to act as independent directors. FFP is usually asked to provide Registered Agent services in situations where the existing service provider no longer wishes to act, either because of threats of litigation; where disputes between stakeholders create conflicts of interest; or in other distressed situations where a replacement Registered Agent is needed.
Every company registered in the BVI is required to have a physical presence in the form of its Registered Agent. Under the BVI Business Companies Act 2004, every BVI company is required to have a registered Agent with a licensed service provider such as FFP.
Licensed service providers will typically provide a physical mailing address for the company and a display for the company name. They will also maintain the statutory registers of the company in respect of its members; its directors and officers; and its register of mortgages and charges.
In addition, the service provider will arrange for the submission of any filings with the Registrar of Companies and/or the Financial Services Commission.
The Registered Agent will also usually maintain and safeguard other important company records and documents such as the certificate of incorporation, the memorandum and articles of association, the minute books and other contractual documents. The service provider may also act as the company secretary and provide nominee shareholder services.
There is a public register of Registered Agents (BVI FSC) and the name of a company’s Registered Agent is public knowledge.