Harneys Services is advising clients and potential clients that there are new regulations governing the use of restricted company names in the British Virgin Islands.

In a notice issued in September 2011, the BVI Financial Services Commission (FSC) published a list of restricted company names.

According to the FSC notice, the Registrar shall not register a company that contains a restricted word or phrase in its name unless the FSC has granted prior written consent for use of same.

To request use of a restricted word, companies must pay a $100 fee which is non-refundable.

Please see full alert below for more information.