A new year brings new regulations, and 2024 is no exception. The BVI Business Companies Act, 2004 was amended last year, and included in the changes are new reporting requirements. All companies incorporated or registered in the BVI must prepare an annual return containing specific financial information in the form of a basic balance sheet and income statement with their registered agent each year.
A company must file its annual return within 9 months of the end of the company’s financial year. The registered agent will store the company’s annual return to make it available at the request of authorities. With many companies having a fiscal year ending December 31, the 9-month filing deadline for most companies will be in September 2024. Failure to file an annual return by the deadline may result in prosecution or a fine against the company.
Through SS&C’s Fund Administration Solutions, we are positioned to support you with the preparation of your annual return, with subject matter experts maintaining the most up-to-date guidance on the latest global regulatory changes. Backed by a highly experienced team spanning all primary fund domicile jurisdictions, we will help you respond to these BVI changes as an extension of our regular fund accounting and reporting services. As the largest global fund administrator, we provide global operations services technology with skills in compliance and customized reporting designed to meet all regulatory requirements.
To learn more about how our Fund Administration Solutions can help you stay compliant with changing regulations, visit our Global Fund Administration Services & Solutions page.
