BVI Regulatory Obligations And Filing Deadlines 2017

AUDITED ACCOUNTS – 30 JUNE 2017
(FOR COMPANIES WITH 31 DEC FINANCIAL YEAR END) 

FUND ANNUAL RETURN – 30 JUNE 2017

RECORD KEEPING – ONGOING

REGISTER OF DIRECTORS - ONGOING

AEOI – ONGOING

TIGHTENING ATTITUDE OF THE COMMISSION TO LATE FILINGS

During the past year we have seen that the British Virgin Islands ("BVI") Financial Services Commission (the "Commission") has become increasingly strict with payment and filing deadline contraventions with a number of administrative penalties levied and other enforcement action taken in respect of late filing of annual returns, failure to obtain the prior consent of the Commission (where required) and changes to functionaries.  We expect this trend to continue with further penalties and potential enforcement action by the Commission for non-compliance, in particular in relation to late filing of annual returns and annual accounts.