New regulations have come into force which govern the use of restricted company names in the British Virgin Islands.

The BVI Financial Services Commission recently published an expanded list of restricted company names and introduced a non-refundable fee of $100 payable by persons wishing to apply to use a restricted name.

According to the commission notice issued in September 2011, the registrar will not register a company that contains a restricted word or phrase in its name unless the commission has granted prior written consent for its use.

For further information on this topic please contact Gwenyth Vanterpool at Harney Westwood & Riegels by telephone (+1 284 494 2233), fax (+1 284 494 3547) or email ([email protected]).