When should arrange for the annual renewal of BVI company after it is incorporated?

BVI company incorporated in or before June should be renewed before 31 May each year to ensure its legal status and recognition.Whereas BVI company incorporated in July to December can be renewed before 30/ Nov each yearRead more: British Virgin Islands offshore company formation What happens if I don't pay the annual renewal fees?

Is there any other compliance rule for BVI company?

Basically, except for the annual renewal of the BVI company, the company is not required to submit any other form of annual return or financial statements to the BVI government, thus, this has greatly increase the simplicity of managing a BVI company.

Does the company have to file accounts or a financial statement?

There is no requirement to file accounts or a financial statement

Is the company taxed on profit?

A BVI company is exempted from all local taxes

Does the company have to maintain books and records in the BVI?

The company does not have to keep records in the BVI. If the company chooses to keep records they can be kept anywhere in the World.

Do I need to comply with all regulations of FSC when opening BVI company?

Yes, BVI company formation need to be under all regulations of FSC and BVI Laws.

Registered agent will guide you in the first stage and update when there are any changes from these regulations

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Related FAQs

1. When should arrange for the annual renewal of BVI company after it is incorporated?
2. Is there any other compliance rule for BVI company?
3. Does the company have to file accounts or a financial statement?
4. Is the company taxed on profit?
5. Does the company have to maintain books and records in the BVI?
6. Does BVI company need to file Register of Directors?
7. How to incorporate a BVI offshore company with bank account?
8. Does BVI Company need Registered Office and Registered Agent?
9. What is BVI FSC’S roles?
10. What is penalty fee If I fail to pay renewal fee in due course?
11. What are the advantages of a virtual office?
12. What are some examples of virtual offices in BVI?
13. Which types of companies are suitable to register as a BVI virtual office?
14. Can I open a bank account for my BVI company in Singapore? Which Singapore bank can I register a corporate bank account for my BVI company?
15. Could I set up a BVI company from Singapore?
16. What are the advantages of BVI Commercial Registry?
17. What information of a BVI Corporate Registry would be disclosed on?
18. I live in the United Kingdom (UK) and have a question: How can I choose the name to set up a BVI Business Company?
19. Can I open a bank account for my incorporated BVI company in the UK? Do I need to travel to BVI to open a bank account?
20. What are the main advantages to register a company in BVI? How do I register a company in the BVI?
21. How do I pay an annual renewal fee for my registered BVI Company? What will happen if I cannot pay the fee on time?

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Do I need to comply with all regulations of FSC when opening BVI company?

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