Dear Clients,

ANNOUNCEMENT – BVI Government Increase in Fees - effective from 01.01.2018

The BVI Business Companies Act (Amendment of Schedule 1) (No. 2) Order, 2016 and the BVI Business Companies Act (Amendment of Schedules) Order, 2017 have revised the fees that the BVI Registry charges.

The changes will come into effect on 1 January 2018.

Please see below, the changes that are particularly relevant to you are:

  1. The increase in the incorporation fee for a company that is authorised to issue no more than 50,000 shares
  2. The increase in the annual license fee for such a company from US$350,00 to US$450,00
  3. The increase in the incorporation fee for a company that is authorised to issue more than 50,000 shares
  4. The increase in the annual license fee for such a company from US$1.100,00 to US$1.200,00

If a company fails to pay the annual fee on or before the due date, in addition to the license fee, it must pay a penalty of:

  1. 10% of the annual fee, if the fee is paid within 2 months of the due date; or
  2. 50% of the annual fee, if the fee is paid on or after the expiration of 2 months of the due date.

If you have any questions regarding the increase, please do not hesitate to contact us.

Contact us

Igoumenitsas 12,
CONNECTEDSKY HOUSE, P.C. 2027,
Strovolos, Nicosia, Cyprus

Tel:
70003517 in Cyprus
+357 22258800 from abroad

Fax:
+357 22258801

Email: info@connectedsky.com