With effect from 1 January 2023, all companies
incorporated or registered in the British Virgin Islands
(Companies) must prepare and file an annual return. This new
requirement does not apply to listed Companies, Companies that are
regulated in the British Virgin Islands (BVI) or Companies that
have filed tax returns with the BVI Inland Revenue.
1. What information needs to be included in the annual
return?
The annual return needs to provide a basic balance sheet and
income (profit and loss) statement. The form of annual return is
prescribed by statute, a copy of which can be found
here.
2. When does the first annual return need to be filed?
A Company must file its first annual return within 9 months of
its fiscal year end. If the Company maintains a standard calendar
fiscal year, its first annual return must be filed by 30 September
2024 and should cover the period 1 January 2023 – 31 December
2023.
