LICENCING REQUIREMENTS FOR REGISTERED AGENT

A license can be obtained by making an application in the prescribed form to the Governor.

If the Governor is satisfied that an application is not against the public interest and that the applicant is
qualified to carry on the business of company management, he may grant the application and issue to
the applicant a licence subject to such terms and conditions as appear to the Governor necessary.

Any decision to refuse to grant a licence, other than a licence in respect of a business in existence at the
date of the commencement of this Act, is final and is not subject to any appeal.

FEES: (the amounts herein may not be the same anymore. The amounts are lifted from Management
Act of 1990)

Application Fee: Non-refundable $200.

Issuance Fee:
a/ If license is issued on or before June 30 - $500
b/ If license is issued on or after July 1 - $250

Validity: Valid until December 31 of the year it is issued

Renewal of License: $500

Capitalization: at least $25,000

PARTICULARS TO BE SPECIFIED IN APPLICATION

1. Name of Applicant

2. Registered office/Address in the Virgin Islands

3. Names and addresses of the following:

a. All directors
b. All Shareholders
c. All officers and managers

4. Names and addresses of the following, tighter with a letter from them confirming that they act for
the applicant:
a. Solicitors, if any
b. Auditors
5. Name and address of one the following, who is/are authorized agent/s in the Virgin Islands to accept
on behalf of the applicant service of process and any notices required to be served on it:
a. One of its officers
b. Another of its officers, to act in absence of subparagraph (a)

6. Incorporation papers/evidence

7. Written evidence that the applicant or some person has practical experience in company
management.

8. Either of the documents below. Note that the amount sum is subject to the Governor’s absolute
discretion:
a. A written undertaking to provide paid up capital before or at the commencement of business.
b. A written guarantee, made under seal, of the Parent or other Company, as approved by the
Governor, of such sum before or at the commencement of business. The guarantee shall
provide that its formal validity, essential validity, interpretation, effects, and the rights and
obligations of the parties are governed exclusively buy the laws of Virgin Islands, and the Court
of Virgin Islands shall be the only forum for these purposes.

9. Written character references, and other evidences showing that the directors or officers of the
Company has no criminal record in Virgin Islands and elsewhere.

10. Financial Statements or Annual Reports (annual accounts) of Parent Company for the preceding
three (3) years, duly audited and certified by an independent auditor.

11. Names and addresses of all subsidiary companies.

12. Charter, certificate of incorporation, memorandum of association verified by an affidavit sworn by a

director or corporate secretary and duly authenticated as follows:
a. if incorporated in Virgin Islands, should be notarized
b. if incorporated elsewhere, should be certified and authenticated un the public seal of the
country, city or place where the company is incorporated.

13. References, including one from a bank or trust company.

14. Statement of Assets and Liabilities at the end of the month prior to the submission of the
application, duly certified by a director or senior officer.

15. Statement of Capital of all Companies held by the applicant, both directly and indirectly through a
subsidiary.

FROM COMPANY MANAGEMENT ACT OF 1990, REPHRASED