There are several obligations a company has to take care of after it is registered.
Keeping Proper Books and Records
A company has to maintain and update statutory records with Registered Agents.
Any changes in the particulars in the director, shareholders have to be notified to the Registered Agent for keeping record.
Renewal Annual License Fee
A BVI Business Company must pay the annual license fees to the BVI Government.
For company incorporated from 1 January to 31 June, the annual license fee is due in May each year.
For company incorporated from 1 July to 31 December, the annual license fee is due in November each year.
Late payment will result in 10% penalty fee if the payment is paid within 2 months of expiration; 50% penalty fee, if the payment is overdue for more than 2 months. The company will struck-off on May or November if no payment is received by the Government
