Being a general reminder on housekeeping of your BVI company compliant with the relevant regulations in the BVI, please take actions to the following matters:
- Notify Sertus the financial year end date of your company with a signed resolution as supporting; So that, the company can fix the filing timeframe of the annual return from 2024;
- Maintain full and complete accounting records of your company and it also facilitates the preparation of financial statements for the annual return filing.
- Notify Sertus any change to the ultimate ownership of your company within 15 days of the change with an up-to-date structure chart as supporting;
- Notify Sertus any change of the particulars of the directors, shareholders and UBO (e.g. renewed passport, new residential address, change of entity name, etc.)of your company as soon as you are aware of the change to comply with the relevant filing deadlines;
- Late filing of ROD after 30 days of the change, penalty is USD100;
- Non-compliance of keeping up-to-date ROM at the registered office within 15 days of any change is a summary conviction to a fine of $10,000;
- Non-compliance of keeping up-to-date UBO information with the registered agent within 15 days of any change is an offence and liable to a fine up to USD5,000 or USD10,000 dependent on type of conviction..)
- Notify Sertus any change of the nature of activities of your company.
(Penalty Note: Late penalty for filing of annual return is US$300 for the first month, US$200 for each subsequent month up to USD5,000 and potentially being struck off by the Registrar for continuing non-compliance.)
(Penalty Note: Non-compliance of keeping proper underlying documentation is a summary conviction to a fine of $50,000.)
(Penalty Note: Non-compliance is an offence and liable to a fine up to USD20,000 or USD40,000 dependent on type of conviction.)
(Penalty Note:
and
We, being a regulated license holder, reserve the right to terminate our services if any non-compliance of the clients or, due to clients’ non-response, we fail to comply with the relevant regulations.
If you have any questions regarding the above, please feel free to contact your Sertus Client Services Representative or contact us at info@sertus-inc.com.
Disclaimer Kindly note that this note is not exhaustive but just intended to provide a general reference. This is not a legal advice and should not be regarded as a substitute for a specific legal advice that meet your circumstances. Sertus does not accept any responsibility for any errors or omissions of the contents of this note.