
Are Financial Statements, tax returns and audits required in the BVI
One of the most frequent questions we receive from our clients is whether there is a requirement for the BVI International Business Companies to prepare

One of the most frequent questions we receive from our clients is whether there is a requirement for the BVI International Business Companies to prepare

During August 2022, amendments to the British Virgin Islands (“BVI”) Business Companies Act (As Revised) and BVI Business Companies Regulations (As Revised) (the “Regulations”) were published by the BVI government and will come into force on 1 January 2023.

You may have heard that in accordance with the BVI Business Companies Act, a BVI Company needs to keep Financial Records and underlying documentation. But what does that mean exactly?

Through our experience we have noted that a lot of individuals/large groups who have entities in the BVI, are not aware of the current obligations of their BVI Entity, or when they need to prepare Financial Statements they don’t know who to contact to assist them with.