UPDATES TO THE BVI BUSINESS COMPANIES ACT: THE FINANCIAL RETURNS ORDER
12 June 2023
The BVI amended the BVI Business Company Act, Revised Edition 2020 (the “Act”) effective January 1, 2023 with a number of amendments affecting BVI Business Companies. One of the key changes was that BVI Companies are required to prepare and file with their registered agent an annual financial return (“Annual Return”) which contains certain financial information for fiscal years commencing on or after January 1, 2023.