Before closing a BVI company, assemble the core corporate, ownership and financial information in one place. This checklist shows what is normally needed to prepare the appointment documents, complete onboarding and move the liquidation through to dissolution.

If the company still has cash, investments, receivables, property, creditors or contingent obligations, include them in the initial information. They can then be addressed in the liquidation plan and timetable.

Core corporate records

• Certificate of incorporation and any certificates of change of name.

• Current memorandum and articles of association.

• Register of directors and register of members.

• Register of charges and details of any security interests.

• Recent director and shareholder resolutions relevant to the closure.

For a BVI company, the required records can usually be obtained from the company’s own files or its registered agent. The opening review focuses on whether the information is current and whether the people who need to approve the liquidation can be identified.

Directors, shareholders and beneficial ownership

Provide current contact details for the directors and shareholders, together with a simple ownership chart if the company is part of a group. Confirm the number and class of shares held by each member and whether any nominee or trust arrangement affects the approval process.

Identity and address evidence may also be required for the persons giving instructions and the beneficial owners. Supplying current documents at the start avoids delays in completing client-verification procedures.

Financial position

Prepare recent financial statements, management accounts or a closing balance sheet. Include bank statements and schedules supporting material balances. A nil balance sheet should still record that there are no assets and no liabilities rather than leaving the position unstated.

List all bank accounts, investments, receivables, loans, property and other assets. Separately list trade creditors, taxes, annual fees, professional costs, guarantees and contingent liabilities. Explain how any remaining balances will be settled or distributed.

Tax, filings and company status

Confirm that annual fees and required Registry filings are current. Identify the status of annual returns, economic substance submissions, beneficial ownership information and any tax or regulatory filings relevant to the company. Missing or overdue items should be included in the work plan.

Contracts and unresolved matters

Identify continuing contracts, employees, licences, litigation, claims, guarantees and insurance policies. Confirm whether each item has ended or what action remains. The liquidator needs a complete picture of obligations that may survive the appointment.

Assets and distributions

Where possible, routine receipts, payments and shareholder distributions are planned before the appointment. If an asset will remain in the company, provide its supporting documents, valuation information and the proposed method of realisation or distribution. Do not close the final bank account until all expected receipts, payments and transfer arrangements have been mapped.

What happens after the review

The information is used to confirm solvency, prepare the liquidation plan and appointment documents, and establish the filing and notice timetable. The liquidation can then proceed on a clearly defined scope.