Industry Circular No. 22 of 2020 - BVI FSC Business Continuity Update: Operations

BVI FSC Business Continuity Update: Operations

The BVI Financial Services Commission (the "Commission") continues to operate during its regular hours of operation (8:30 a.m. – 4:30 p.m.). Please note the new details of operation for our Asia Representative Office in Hong Kong and instructions for payment of annual fees for BVI Business Companies.  

HK Office
Our Asia Representative Office will close early on Wednesday, 27 May 2020, at noon.
We will resume our in-office processing of transactions on Thursday, 28 May 2020, from 10:00 a.m. – 4:00 p.m. Until further notice, our Hong Kong office will continue to make arrangements for the delivery of certificates to agents via courier. 

Please contact our Hong Kong team at [email protected] for all queries, service requests and to schedule an appointment with the Asia Representative.

Our Industry Practitioners, please note as follows:

Registry of Corporate Affairs 
The due date for annual fees for BVI Business companies incorporated during the first half of the year is Sunday, 31 May 2020. The following day, 1 June 2020, is a public holiday. 
Annual fees can, therefore, be paid without penalty until 11:59 p.m. on Tuesday, 2 June 2020.

Also, Foreign companies that have not yet paid annual fees are currently in the 10% penalty period. Fees that are not paid by 31 May are subject to a 50% penalty on 1 June. As Monday, 1 June is a public holiday, annual fees for Foreign companies can be paid with the current 10% penalty until 11:59 p.m. on Tuesday, 2 June 2020.