British Virgin Islands Compliance Guide
Filing requirements, deadlines, and fees for British Virgin Islands business entities.
Filing Obligations
Annual Licence Fee
AnnualAll BVI Business Companies must pay an annual government licence fee. The due date depends on the month of incorporation: Group 1 (Jan-Jun) pays by 1 June, Group 2 (Jul-Dec) pays by 1 December.
June 1 (companies incorporated Jan-Jun) / December 1 (companies incorporated Jul-Dec)
US$450 (BC with max 50,000 authorised shares); US$1,200 (BC with more than 50,000 authorised shares)
10% surcharge if paid within 30 days; 50% surcharge thereafter. Company struck off after 5+ months of non-payment.
Via registered agent
Annual Return
AnnualBVI BCs must file an annual return containing financial summary information with the Registry of Corporate Affairs. This requirement was introduced under the BVI Business Companies (Amendment) Act 2022, effective from 1 January 2023.
9 months after financial year end
US$100
US$100 penalty; continued non-compliance may lead to strike-off
Online via VIRRGIN system through registered agent
Economic Substance Return
AnnualEntities carrying on relevant activities must file an economic substance return with the BVI International Tax Authority, demonstrating adequate substance in the BVI.
6 months after financial year end
No filing fee
US$5,000 initial penalty; up to US$400,000 for continued non-compliance; potential strike-off
Online via BVI Financial Services Commission BOSS system
Beneficial Ownership Secure Search System
Ongoing / AnnualBVI companies must maintain and update beneficial ownership information through their registered agent, who files it with the BVI Financial Services Commission.
Within 15 days of any change; annual confirmation
No fee
US$5,000 penalty
Via registered agent using BOSS system
Key Dates
Frequently Asked Questions
When are BVI annual licence fees due?
It depends on when the company was incorporated. Companies incorporated January-June (Group 1) pay by 1 June. Companies incorporated July-December (Group 2) pay by 1 December.
How much is the BVI annual licence fee?
US$450 for companies with up to 50,000 authorised shares, or US$1,200 for companies with more than 50,000 authorised shares.
Do BVI companies need to file annual returns?
Yes. Since January 2023, all BVI Business Companies must file an annual return with the Registry of Corporate Affairs within 9 months of their financial year end. The filing fee is US$100.
What happens if a BVI company doesn't pay its licence fee?
A 10% surcharge applies within 30 days of the due date, rising to 50% thereafter. After approximately 5 months of non-payment, the company will be struck off the register.
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Get Started FreeLast updated: 2026-02-27. Information is provided for general guidance and may not reflect the most recent changes. Always verify with the official state registrar.