BVI Recurring Government Fees
New Registry Fees from January 1, 2023
On August 12, 2022, the British Virgin Island (BVI) government enacted the BVI Business Companies (Amendment) Act, 2022 (the “BVI Amendment Act 2022”), which contains significant changes to the BVI companies’ regime.
Similar to the Economic Substance Reporting requirement imposed on BVI companies in 2019, the new amendments are designed to comply with evolving international standards on transparency and the fight against financial crimes.
The new amendments take effect on January 1, 2023.
The most notable changes are as follows:
The most notable changes are as follows:
- The incorporation fee for a standard company authorized to issue up to 50,000 shares increases from $500to $550 and, for a company authorized to issue more than 50,000 shares from, $1,200 to $1,350.
- Registration or annual renewal of a foreign company carrying on business in the BVI, fee increases from $500 to $550.
- Most other filing fees and fees for issue of certificates by the Registry have been increased.
Additional Notes
Bearer Share Penalties
By the effective date:
- the registered agent must transfer bearer share(s) to the company to be held by the company on trust for the owner of the share(s); and