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Faq's - CCP GROUP

  • What services does CCP Financial Consultants Limited offer?
    CCP Financial Consultants Limited offers a range of financial services including company incorporation and management, ship registration, liquidations, accountancy services, economic substance compliance, and assistance with opening bank accounts.
  • Why is due diligence important before receiving services from CCP?
    Due diligence, including a comprehensive Know Your Customer (KYC) exercise, is essential to comply with local and international standards for transparency, anti-money laundering, and counter-terrorist financing. This ensures compliance and helps avoid significant fines.
  • What is the BOSS system?
    The Beneficial Ownership Secure Search (BOSS) system is a private and restricted access database mandated by the BVI's Beneficial Ownership Secure Search System Act, 2017. It requires registered agents to maintain and upload information about the beneficial owners of corporate entities. This system is not accessible by the public and ensures transparency and compliance with international regulations.
  • How can CCP assist with opening a bank account?
    CCP leverages its extensive experience and relationships with various local and global financial institutions to assist clients in opening bank accounts, ensuring a smooth and efficient process.
  • What is the Economic Substance (Companies and Limited Partnerships) Act 2018?
    The Economic Substance Act requires certain BVI entities (those engaged in nine relevant activities) to demonstrate adequate economic substance within the BVI. Dependent on the size and scope of the company and its activities, this may include having physical offices, qualified employees, and conducting core income-generating activities within the territory. CCP offers services to help clients comply with these requirements.
  • What accountancy services does CCP provide?
    Through its sister company Crowe (BVI) Limited, CCP provides comprehensive accounting, auditing, consulting, and ancillary financial services, ensuring all financial needs of clients are met.
  • What is the process for incorporating a company in the BVI?
    Incorporating a company in the BVI involves registering under the BVI Business Companies Act, 2004 (as amended). This process includes submitting necessary documentation, paying incorporation fees, and adhering to regulatory requirements. CCP assists clients throughout this process to ensure compliance and efficiency.
  • Can CCP handle liquidations?
    With extensive experience in the BVI, CCP manages the liquidation process for companies, ensuring all legal and regulatory requirements are met efficiently. This includes preparing necessary documentation, liaising with authorities, the court, lawyers and any others required to ensure the orderly winding up of the company. One of the directors of CCP is a Licensed Insolvency Practitioner in the BVI which means that they can offer both solvent and insolvent liquidation services.
  • How can CCP assist with ship registration?
    CCP provides comprehensive assistance in registering ships in the BVI, guiding clients through the entire process and ensuring compliance with local regulations. This includes documentation preparation, submission, and liaising with relevant authorities.
  • How can I get started with CCP for my Corporate Service needs?
    To get started, you can contact the CCP office through a phone call, via email or via their website. They offer personalized consultations to understand your specific needs and they can then provide tailored solutions. Please make a call, send an email or schedule a consultation to begin your journey with CCP.
  • Are BVI Companies required to submit an Annual Return?
    Amendments to the BVI Business Companies Act 2004 which became effective on January 1, 2023 made it mandatory for all BVI Companies with a few limited exceptions to file an annual return. The return consists of a basic Balance Sheet and Profit and Loss account which does not need to be audited. Starting with the December 31, 2023, year- end companies must file the return with their registered agent within nine months of their financial year end. The returns are private as there is no requirement for the registered agent to file the return with the BVI registrar of companies.…