EXTENSION OF DATE FOR FILING OF ANNUAL RETURNS

 

By virtue of a Notice (the “Notice”) published on Wednesday, 11th December 2024 the Financial Services Commission of the British Virgin Islands has informed the industry of the following:

 

Companies that were required by the Act to make their first (initial) filing of annual financial returns with their registered agent by 30th September 2024 are, by the Notice, granted a nine (9) month extension on the time by which to comply with the filing requirement for the first annual financial returns. The extension period expires on 30th June 2025 (the “extension expiry date”).

 

Where a company fails to comply with the requirement to file the return by the extension expiry date, the registered agent must notify the Commission within 30 days of the relevant company’s failure to file, whereinafter the Commission may take such enforcement action as it considers necessary.

 

A copy of the Notice is available here.

 

Any questions or concerns in relation to the Notice may be directed to your Portcullis Relationship Manager or one of our representatives

 

REQUIRED ACTION

 

We strongly advise companies to attend to the filing of their annual financial return if this has not already been done, in order to avoid any enforcement action being taken by the Financial Services Commission.