Industry Circular 44 of 2024 - Extension of Date for Filing of Annual Returns

EXTENSION OF DATE FOR FILING OF ANNUAL RETURNS

By virtue of a Notice (the Notice) related to financial returns filings under sections 98A (1) and (2) of the BVI Business Companies Act, revised edition 2020 (the Act), published on Wednesday, 11th December 2024 on the BVI Financial Services Commission (the Commission) website; Acting pursuant to its section 98A(2A) discretion to extend the initial filing period, the Commission informs industry stakeholders and the public of the following:

Companies that were required by the Act to make their first (initial) filing of annual returns with their registered agent by 30th September 2024 are, by the Notice, granted a nine (9) month extension on the time by which to comply with the filing requirement for the first annual returns. The extension period expires on 30th June 2025 (the extension expiry date).

Where a company fails to comply with the requirement to file by the extension expiry date, the registered agent must notify the Commission within 30 days of the relevant company’s failure to file, whereinafter the Commission may take enforcement action.

A copy of the Notice is available here.

Any questions or concerns in relation to this Circular should be directed to [email protected].