BVI annual returns - frequently asked questions
英属维尔京群岛年度报表事务常见问题解答
With effect from 1 January 2023, all companies incorporated or registered in the British Virgin Islands (Companies) must prepare and file an annual return. This new requirement does not apply to listed Companies, Companies that are regulated in the British Virgin Islands (BVI) or Companies that have filed tax returns with the BVI Inland Revenue.
自 2023 年 1 月 1 日起，所有在英属维尔京群岛（以下简称“BVI”）注册成立的公司（以下简称“公司”）都必须编制并提交年度报表，但这一项新要求不适用于上市公司、在BVI受监管的公司或已向 BVI 税务局提交纳税申报表的公司。
1. What information needs to be included in the annual return?
The annual return needs to provide a basic balance sheet and income (profit and loss) statement. The form of annual return is prescribed by statute, a copy of which can be found here.
2. When does the first annual return need to be filed?
A Company must file its first annual return within 9 months of its fiscal year end. If the Company maintains a standard calendar fiscal year, its first annual return must be filed by 30 September 2024 and should cover the period 1 January 2023 – 31 December 2023.
3. What is a fiscal year?
A Company must choose a 12-month period for its fiscal year. Most Companies maintain a calendar fiscal year (1 January – 31 December).
4. How is the annual return filed?
A Company must file its annual returns with its registered agent in the BVI.
5. Who can inspect the annual return?
Upon request, the registered agent must provide a copy of the annual return to the BVI Financial Services Commission. Otherwise, the annual returns will remain private – they will not be available for public inspection.
6. Does the annual return need to be audited?
No. The annual return does not need to be audited.
7. What happens if the annual return is not submitted?
If a Company misses its filing deadline, the registered agent must report this defect to the BVI Registry of Corporate Affairs (BVI Registry). Once the defective notice is issued, the Company will be liable to fines (ranging from $300 - $5,000) and it may be struck-off and dissolved. Until the defect is remedied, the BVI Registry will not issue a certificate of good standing for the Company or allow it to make any filings.
The registered agent must report a defective Company, or it will be liable to a fine of $3,000.
8. Can you provide a working example?
| Requirement | |
| Company |
A Company must: (1) prepare its annual return; and (2) file the annual return with its registered agent in the BVI. The filing must be made within 9 months of its fiscal year end. If the Company maintains a calendar fiscal year, its first filing deadline is 30 September 2024. |
| Registered Agent |
A registered agent must: (1) monitor a Company’s compliance with the new annual return filing requirement; and (2) notify the BVI Registry (within 30 days) if a Company misses a filing deadline. If the Company maintains a calendar fiscal year and does not file its annual return on time, the registered agent must file a defective notice by 30 October 2024. |
| BVI Registry |
Upon receipt of a defective notice, the Company will be liable to fines of $300 - $5,000 and it may be struck-off and dissolved. During the defective period, the BVI Registry will not issue a certificate of good standing for the Company or allow it to make any filings. If the Company maintains a calendar fiscal year and a defective notice is issued, with effect from 30 October 2024: (1) the Company will be liable to fines; (2) the Company will no longer be in good standing; (3) the Company cannot make filings at the BVI Registry; and (4) the Company is liable to be struck-off and dissolved. |
9. Is the fiscal year the same as the company’s financial period used for economic substance?
No, these are different.
- Fiscal Year - the fiscal year is only used for annual returns. This term is determined by the Company and usually runs from 1 January - 31 December each year.
- Financial Period - the financial period is only used for economic substance declarations. This term is prescribed by statute and is linked to the Company’s incorporation date.
10. Do the fiscal year and financial period have to be the same?
No, there is no requirement for these to correlate.
11. Can I consolidate the filing deadline for my annual return and economic substance declaration?
Yes, this is possible. The Company can file a notice with the BVI tax authority to change its financial period.
12. What do I do if I need more information?
If you have any questions about the new annual return filing requirement, please reach out to your usual contact at Carey Olsen or [email protected]
年度报表中需要提供哪些信息？
年度报表中需要提供基本的资产负债表和损益表。年度报表格式是法定的，可在此获取样本。
第一份年度报表需何时提交？
公司必须在其财政年度结束后 9 个月内提交第一份年度报表。如果公司的财政年度与标准日历年保持一致，则其必须在 2024 年 9 月 30 日之前提交第一份年度报表，申报期间为 2023 年 1 月 1 日至 2023 年 12 月 31 日。
什么是财政年度？
公司必须选择一个为期 12 个月的期限作为其财政年度。大多数公司的财政年度都与标准日历年保持一致，即 1 月 1 日至 12 月 31 日。
如何提交年度报表？
公司必须向其在 BVI 境内的注册代理提交年度报表。
谁可以查阅年度报表？
如果 BVI 金融服务委员会提出要求，注册代理必须向其提供年度报表副本。除此之外，年度报表将是保密的，不可供公众查阅。
年度报表是否需要接受审计？
年度报表不需要接受审计。
不提交年度报表会有何后果？
如果公司未能在截止日期之前提交报告，注册代理须向 BVI 公司事务注册处（以下简称“BVI 注册处”）报告该缺陷。公司一旦获得BVI注册处发出的缺陷通知，即须承担 300 美元至 5000 美元不等的罚款，并有可能被除名和注销。在该公司对缺陷进行补救之前，BVI 注册处不会向该公司出具良好存续证明，也不会允许该公司进行任何备案。
注册代理必须上报未提交年度报表的公司，否则须承担 3000 美元的罚款。
能否提供实际的例子？
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要求 |
|
公司 |
公司必须：(1) 编制年度报表；并 (2) 向其在 BVI 的注册代理提交年度报表。其必须在财政年度结束后 9 个月内完成提交。
如果公司的财政年度与标准日历年保持一致，则其首次提交的截止日期为 2024 年 9 月 30 日。 |
|
注册代理 |
注册代理必须：(1) 监控公司是否遵守新年度报表提交的要求；且 (2) 如果公司未能在截止日期之前提交，则在 30 天内通知 BVI 注册处。
如果公司的财政年度与标准日历年保持一致，且没有按时提交年度报表，则注册代理人必须在 2024 年 10 月 30 日之前提交缺陷通知。 |
|
BVI |
收到缺陷通知后，公司须承担 300 美元至 5000 美元不等的罚款，并有可能被除名和注销。在缺陷存在期间，BVI 注册处不会向该公司出具良好存续证明，也不会允许该公司进行任何备案。
如果公司的财政年度与标准日历年保持一致，并收到了自 2024 年 10 月 30 日起生效的缺陷通知：(1) 该公司须承担罚款；(2) 该公司将丧失良好存续状态；(3) 该公司无法在 BVI 注册处进行备案；以及 (4) 该公司有可能被除名和注销。 |
财政年度是否就是公司用于申报经济实质所用的财政期间？
不是，两者有所不同。
- 财政年度 — 仅年度报表会使用财政年度。该期限由公司自行决定，通常是从每年 1 月 1 日到 12 月 31 日。
- 财政期间 — 仅经济实质申报会使用财政期间。该期限是法定的，并与公司的注册成立日期有关联。
财政年度和财政期间是否必须一致？
不是，无两者之间需关联的要求。
能否为年度报表和经济实质申报采用同一提交截止日期？
可以这样做。公司可以向 BVI 税务机关提交财政期间变更通知。
如何获取更多信息？
如果您对有关年度报表提交这一新要求有任何疑问，请联系您在凯瑞奥信 (Carey Olsen)的联系人或[email protected]。
请注意，本简报仅旨在对所涉事项提供非常一般化的概述，不构成法律意见，因此不得以此为依据。
