BVI companies must now file Annual Financial Returns from 2024, with updated rules on beneficial ownership. Exemptions and deadlines apply.
The British Virgin Islands (BVI) recently introduced the requirement to file an Annual Return for all BVI Business Companies with certain exceptions. The newly enacted BVI Business
Companies (Financial Returns) Order, 2023 came into force on 1 January 2023. The BVI has also introduced a Bill to amend the BVI Business Companies Act 2004. The links to the Order
and the Bill are set out below:
BVI Business Companies (Financial Return) Order, 2023
The following are the key requirements in the Order:
Annual Financial Returns
Example 1: Company A’s fiscal or financial year is from March to February. To comply with its annual return filing under the Act, Company A’s first Return becomes due on 1st March, 2024,
but it has until 30th November, 2024 to file the Return.
Example 2: Company A’s fiscal or financial year is from May to April, its first Return becomes due on 1st May, 2024, but the Company has until 31st January, 2025 to file the Return.
Companies exempted from the Return filing requirement
Example 1: Company A has a calendar year (January – December) as its financial year. Its annual return becomes due from 1st January to 30th September of the ensuing year. In June
of that ensuing year, the company decides to go into liquidation before it has filed its annual return. The company is bound to file its annual return because its liquidation commenced
after the annual return became due.
Example 2: Company B has a calendar year (January – December) as its financial year. However, in June of that calendar year Company B goes into liquidation before its annual
return for that year becomes due. Company B is not required to file an annual return for that calendar year.
Example 3: Company C has a fiscal or financial year that commences on 1st April in a particular year (“the First Year”) and ends in March of the following year (“the Second Year”), the
company’s annual return becomes due on 1st April of the Second Year (even though the company has until 31st December of the Second Year to file its annual return). Consequently, if
Company C goes into liquidation in May of the Second Year, it is liable to file its annual return as the annual return would have become due on 1st April of the Second Year. If, on the other
hand, Company C goes into liquidation in November of the First Year, it is not liable to file an annual return for that Year.
Bill for the BVI Business Companies (Amendment) Act, 2023
The following are the key requirements in the Bill:
Beneficial Owner Information
Please contact your Portcullis Relationship Manager or one of our representatives for assistance or further information should you have any questions or difficulty in meeting these regulatory requirements.
Contact us
Portcullis (BVI) Ltd
Portcullis Chambers
4th Floor, Ellen Skelton Building
3076 Sir Frances Drake Highway
Road Town, Tortola VG1110
+1 284 494 5296
Info.bvi@portcullis.co
www.portcullis.co
除特例情況外,英屬維京群島(BVI)於近期要求所有BVI商業公司須進行年度申報。最新頒布之《2023年英屬維京群島商業公司(財務報告)命令》已於2023年1月1日生效。英屬維京群島亦公布一修正法案,旨在修正《2004年英屬維京群島商業公司法》。該命令和法案的連結如下:
• 2023年英屬維京群島商業公司(財務申報)命令
• 2023年英屬維京群島商業公司法(修正)法案
2023年英屬維京群島商業公司(財務申報)命令
該命令之主要規定,臚列如下:
年度財務申報書
案例1:A公司之會計年度或財務年度係自每年三月至次年二月。為符合年度申報之規定,A公司之申報期間為2024年3月1日至2024年11月30日。
案例2:A公司之會計年度或財務年度係自每年五月到次年四月。A公司之申報期間為2024年5月1日至2025年1月31日。
年度申報之豁免
案例1:A公司財務年度係採行曆年制(即為1月至12月),則其年度申報應於次年1月1日至9月30日間提交完成。然而,公司於次年六月決定進行清算且尚未完成前述年度申報。由於該公司之年度申報起始日早於其清算程序起始日,故該公司仍需提交年度申報書,不得免除。
案例2: B公司的財務年度採行曆年制(即為1月至12月)。然而,B公司欲於該年6月進行清算(即早於該年度之申報起始日),故B公司得免除該年度之申報。
案例3: C公司會計年度或財務年度係自該年4月1日(「第1年」)至次年3月底(「第2年」)。則該公司之年度申報期間為第2年4月1日至第2年12月31日。如C公司於第2年5月進行清算,則該公司仍需提交年度申報書(即其清算起始日遲於該年度申報起始日)。反之,如C公司於第1年11月進行清算,則得免除該年度之申報。
2023年英屬維京群島商業公司法(修正)法案
該法案之主要規定,臚列如下:
實質受益人資訊
倘貴客戶於符合監管要求有任何疑問或困難時,請聯繫您的保得利客戶經理或一位代表來協助或取得進一步的訊息。
Contact us
Portcullis (BVI) Ltd
Portcullis Chambers
4th Floor, Ellen Skelton Building
3076 Sir Frances Drake Highway
Road Town, Tortola VG1110
+1 284 494 5296
Info.bvi@portcullis.co
www.portcullis.co
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