By the BVI Business Companies Act (Amendment of schedules) Order, 2017 approved on February 17th, 2017, the fees will be increased in some legal services. This order shall come into force in the 1st day of January, 2018.
The annual incorporation and maintenance charges payable to the government for companies authorized to issue up to 50,000 shares will increase from USD $ 350 to USD $ 450 and for companies authorized to issue more than 50,000 shares from USD $ 1,100 to USD $ 1,200.
The fees will be increased in some legal services such as:
In addition, the penalties will be increased for the late payment of annual fee and for the failure to file copy of register of directors.
This order shall come into force in the 1st day of January, 2018.
Liza M. Diaz