Annual Compliance in British Virgin Islands
The annual pack that keeps a BVI BC alive and in good standing. Two obligations sit at the centre. First, the annual government fee under s.236, tiered on authorised shares exactly as the incorporation fee is, due 31 May for companies incorporated 1 January–30 June and 30 November for those incorporated 1 July–31 December; late payment carries a 10% penalty within two months of the due date and 50% thereafter, and non-payment leads to striking off (s.213), after which the company cannot lawfully trade or deal with its assets (s.215). Second, the annual financial return introduced by the BVI Business Companies (Amendment) Act 2022 with effect from 1 January 2023: a prescribed unaudited financial return — balance sheet and income statement — filed WITH THE REGISTERED AGENT, not the Registry, within nine months of financial year end, and not published. Alongside them the company keeps at its agent's office its memorandum and articles, registers of members and directors, copies of the previous ten years' filings and financial records sufficient to show and explain its transactions for at least five years (ss.96–98), and re-files the register of directors within 30 days of any change (s.118B(3)). There is no general statutory audit for an unregulated BC. A BVI BC must at all times have a registered office in the BVI (s.90) and a registered agent licensed under the Company Management Act or the Banks and Trust Companies Act (s.91); only the registered agent may file the incorporation application (s.6(2)) or pay the annual government fee (s.236(3)). Comriq coordinates the licensed agent — a founder cannot self-file.
5–20 business days
USD
What we will need from you
Upload these once. They are stored encrypted and reused across every service you buy from us.
Annual financial return for the financial year — balance sheet and income statement, in the prescribed form
Filed with the registered agent within nine months of financial year end. Exempt: a company listed on a recognised exchange; a company regulated under BVI financial-services legislation that already files financial statements with the FSC; a company that files a BVI tax return with financial statements to the Inland Revenue Department; and a company in liquidation, unless the return fell due before liquidation began. Confirm the prescribed form and the exemption wording from the BVI Business Companies (Financial Return) Order 2023 at quote.
Financial records and underlying documentation sufficient to show and explain the company's transactions (ss.97–98)
Kept at the registered agent's office for at least five years.
Up-to-date registers of members and directors, and copies of filings for the previous ten years (s.96)
Details of any change of director, for re-filing with the Registrar
Re-filed within 30 days of the change (s.118B(3)), US$50 per filing.
Cost breakdown
Our fee and the government’s are always separate lines. Government fees are passed through at exactly what the authority charges — we add nothing to them.
| Annual government fee — company authorised to issue NO MORE THAN 50,000 shares (BC Act s.236, Schedule 1)one line of this schedule appliesUS$450 read from Schedule 1 of the BVI Business Companies Act, Revised Edition 2020 — the same tiers as the incorporation fee. Only the registered agent may pay it (s.236(3)). This government fee is separate from and additional to the registered agent's own annual servicing fee. | $450Indicative — from bvifsc.vg, not confirmed on a government portal. We confirm the exact amount before you pay. |
| Annual government fee — company authorised to issue MORE THAN 50,000 shares (BC Act s.236)one line of this schedule appliesUS$1,200 read from Schedule 1 (2020 Revised Edition). Same staleness caveat as the tier above — confirm.bvifsc.vg/fees. | $1,200Indicative — from bvifsc.vg, not confirmed on a government portal. We confirm the exact amount before you pay. |
| Late-payment penalty on the annual fee (Schedule 1 Part II)only if it appliesA percentage of the fee, not a fixed amount: 10% if paid within two months of the due date, 50% thereafter, read from Schedule 1 Part II. Continued non-payment leads to strike-off; restoration requires the restoration fee plus all arrears (ss.217–218). Confirm the current fee and penalty figures.bvifsc.vg/fees. | Confirmed before payment |
| Annual financial return — filing feeConfirm.bvifsc.vg/news/industry-updates/industry-circular-34-2024-filing-annual-returns and.bvifsc.vg/fees. | Confirmed before payment |
| Filing a change to the register of directors (BC Act s.118B(3))US$50 per filing, read from Schedule 1 Part I; due within 30 days of the change. Late-filing penalties escalate to a US$5,000 cap (Schedule 1 Part II, para 2A). Confirm.bvifsc.vg/fees. | $50Indicative — from bvifsc.vg, not confirmed on a government portal. We confirm the exact amount before you pay. |
| Comriq professional fee | Fixed fee within 1 business day |
These are the authority’s published lines. Which of them apply depends on your filing — a schedule by headcount, capital or entity type is one line, not all of them — and the applicable line is confirmed before payment, at cost.
How it runs
You will see these exact stages update in your client portal as we progress.
Annual Government Fee Paid
The s.236 annual fee is paid through the registered agent by the 31 May or 30 November due date for the company's incorporation half-year, keeping the company in good standing.
Records Collected
The year's financial records and underlying documentation are collected and reconciled at the registered agent's office (ss.97–98).
Annual Financial Return Filed with the Agent
The prescribed balance sheet and income statement are filed with the registered agent within nine months of financial year end. The return is not published and is not filed with the Registry.
Registers Updated
Registers of members and directors are brought up to date and any change of director is re-filed with the Registrar within 30 days (US$50).
Indicative guidance — confirmed before payment
Requirements and statutory fees are set by Registry of Corporate Affairs / FSC (annual government fee, register of directors) and the licensed registered agent (annual financial return, statutory records) and change without notice. This page is general information, not legal or tax advice. Your engagement letter and quote are the binding documents.