2024 British Virgin Islands Regulatory (BVI) Calendar
Stay up-to-date with the ever-evolving regulatory landscape with our deadlines calendar for BVI-domiciled entities.
21 October 2024 - The scope of regulatory requirements in the BVI has increased significantly in recent years, especially in light of the amendments brought in by the BVI Business Companies (Amendment) Act 2022 and BVI Business Companies (Amendment) Regulations 2022.
By staying informed and seeking guidance from experts, BVI entities can navigate the regulatory landscape effectively and comply with the mandatory requirements in place. This calendar serves as a helpful tool to keep clients and entities on top of annual regulatory requirements, ensure local compliance, and mitigate against potential monetary penalties and reputational damage.
The ES Period depends on the following:
- Companies incorporated prior to 2019 – ES Period is 30 June to 29 June (i.e., by December of the following year reported)
- Companies incorporated after 2019 – ES Period is Incorporation Date + 12 Months - 1 Day
- 31 May and 31 October
– for BVI Business Company - 31 March
– for Limited Partnership (LP) - 31 March
– for Foreign Limited Liability Company (LLC)
- BVI Business Company first penalty: 1 June; Second Penalty: 1 August.
- LP/LLC first penalty: 1 April; Second Penalty: 1 June.
Annual License Fee
- 30 September
– for companies with financial year ending on 31 December 2023. - 31 December
– for companies with a financial year ending on 31 March 2024.
The ES Period depends on the following:
- Companies incorporated prior to 2019 – ES Period is 30 June to 29 June (i.e., by December of the following year reported)
- Companies incorporated after 2019 – ES Period is Incorporation Date + 12 Months - 1 Day
- 31 May and 31 October
– for BVI Business Company - 31 March
– for Limited Partnership (LP) - 31 March
– for Foreign Limited Liability Company (LLC)
- BVI Business Company first penalty: 1 June; Second Penalty: 1 August.
- LP/LLC first penalty: 1 April; Second Penalty: 1 June.
Annual License Fee
- 30 September
– for companies with financial year ending on 31 December 2023. - 31 December
– for companies with a financial year ending on 31 March 2024.
Please note that the information contained within this calendar is not intended to be an exhaustive list, nor does it constitute legal advice and should therefore not be treated as a substitute for specific advice concerning individual situations.
The Citco group of companies (Citco) provides a full suite of corporate services through our specialized team located in the BVI composed of experienced professionals that assist client entities to manage their regulatory compliance requirements, ensuring that all obligations are satisfied and attended to in a seamless fashion, carried out with the highest degree of efficiency.