News

The BVI Financial Services Commission (the “Commission”) introduced the BVI Business Companies (Amendment of Schedule 1) (No. 2) Order, 2022 (the “Order”), which will come into force on January 1, 2023. The Order makes changes to fees relevant to specific services, please refer to the Order gazetted as attached. Main government fee changes are outlined below for your kind attention:-

Company Type	Fee Type	Current Government Fee (US$)	New Government Fee (US$)
Business Company authorised to issue up to 50,000 shares	Incorporation Fee	450	550
	Initial Filing of Register of Directors Fee	75	100
	Annual Licence Fee	450	550
	Certificate of Good Standing*	50	100
Business Company authorised to issue more than 50,000 shares	Incorporation Fee	1,200	1,350
	Initial Filing of Register of Directors Fee	75	100
	Annual Licence Fee	1,200	1,350
	Certificate of Good Standing*	50	100

* electronic copy

Due to the ongoing obligations and increasing compliance requirements, please note KEYWAY’s Annual Registered Agent and Office fees (“Annual RARO fee”) will also be increased by USD50, the new Annual Licence Government and Annual RARO fees will be reflected in your coming Annual Fee invoices.

Please note the RARO fee for incorporation remains the same, but the new government fee for incorporation will apply with effect from 1 January 2023.

We also wish to remind you that the new fees above are not including the fee for the new obligation of filing annual return and financial statement, please stay tuned for our subsequent communications in relation to this new requirement.

We appreciate your understandings to the above changes and thank you for the continued business.

Should you have further queries, please reach out your usual KEYWAY contact.

File:

BVI Business Companies Amendment of Schedule 1 No.2 Order 2022