The British Virgin Islands Financial Services Commission (FSC) has recently announced an increase in Annual Licence Fees coming in to effect on 1 January 2023.
This fee increase applies to all new incorporations and renewals taking place in 2023, and does not apply to any 2022 Annual Licence Fee.
Annual Licence Fee changes as follows regarding BVI Business Companies:
| Company type | Fee type | Current fee (USD) | New fee effective 1 Jan 2023 (USD) |
|---|---|---|---|
| Standard company authorised to issue up to 50,000 shares | Government incorporation fee | 450 | 550 |
| Annual licence fee | 450 | 550 | |
| Standard company authorised to issue more than 50,000 shares | Government incorporation fee | 1,350 | 1,350 |
| Annual licence fee | 1,200 | 1,350 |
The FSC has also increased the fee for the issuance of certificates as well as introduced some new fees to replace the current filing arrangements. Please click here to view the full BVI Business Companies (Amendment of Schedule 1) (No.2) Order, 2022.
Please see our summary of notable changes below:
| Registrar disbursements fees | Current fee (USD) | New fee effective 1 Jan 2023 (USD) |
|---|---|---|
| Certificate of good standing | 50 | 100 |
| For filing a copy of a register of directors for registration by the Registrar | 75 | 100 |
| For filing a copy of a register containing a change | 75 | 50 |
Clients planning to incorporate a new BVI company can benefit from the current registration fees until the end of the year and should contact their usual Marbury advisor for further details.