Ongoing Obligations Of Approved Managers

Introduction

The BVI Business Companies Act 2004 (the "Business Companies Act") imposes continuing obligations on all business companies. The main requirements of the Business Companies Act are summarised below.

Registered agent / registered office

A BVI business company must at all times maintain a registered office in the BVI. The registered office must be a physical address in the BVI. A business company is also required to have a registered agent in the BVI.

Corporate registry fees

A business company must pay its annual fee on or by 31 May or 30 November each year, depending on the date of incorporation.

A business company which is an unlimited company not authorised to issue shares and a foreign company registered under the Business Companies Act, are required to file an annual return made up to 31 December of the previous year, on or before 31 March of each year.