Liquidations

Liquidate your British Virgin Islands company today.

Dissolve your BVI company

The lifecycle of a BVI company isn’t always necessarily a long one. Unforeseen circumstances may lead to liquidation or a change in a company’s structure could result in dissolution. The completion of a transaction, or the conclusion of a merger, acquisition or simplification of group corporate structures may also mean entities need to be liquidated.

The BVI Business Companies Act, 2004 provides for a solvent company in the British Virgin Islands to be dissolved through a process referred to as “voluntary liquidation”.

Voluntary liquidation is a straightforward and inexpensive process to wind up a company or a group of companies that brings formal closure and greater certainty as well as mitigating risk for directors, shareholders and other stakeholders.

Why Richmond Advisory?

We are the British Virgin Islands liquidation experts.
Whatever the reason for liquidating, we at Richmond Advisory can provide an expert team with more than 16 years’ hands-on experience to guide the client through the entire process as efficiently as possible.
We help stakeholders navigate through the most effective process to yield maximum value and ensure that the liquidation is conducted efficiently with all assets realised and all liabilities properly extinguished.
We offer a full suite of liquidation services. We also prepare all documentation and complete all relevant filings to liquidate and dissolve the BVI company in accordance with statutory BVI requirements.
We keep the need for client input to a minimum – we take control from start to finish, setting out clear timetables and milestones to keep everybody informed.
We also act as Joint Liquidators for the purpose of meeting BVI residency rules where the lead appointee is based outside of the BVI or where a company’s main operations have been in jurisdictions and time zones far removed from the BVI and where having a locally based liquidator might be of great practical benefit and importance.

Eligibility for liquidation

Any BVI company may be placed into voluntary liquidation provided it meets one of the following criteria:

Benefits of liquidation

Duties and obligations

All duties and obligations under BVI law cease upon dissolution of the company.

Litigation

Litigation cannot be commenced against a company after it has been dissolved.

Liabilities

The company can no longer accrue liabilities after it has been dissolved.

Timing of liquidation

A voluntary liquidation can be completed from appointment to dissolution in as little as 4 to 6 weeks. The time taken may vary in each individual case for reasons including, but not limited to, the nature on quantum of assets and liabilities of the company and the number of jurisdictions in which advertisements must be placed.

Low fixed cost

Act as Joint Liquidator for the purpose of meeting BVI residency rules

$2,000

Based on the company having no residual assets or liabilities at the time of appointment. If this is not the case, please contact us for a tailored low fixed quote.

We offer discounted rates for bulk engagements.