BRITISH VIRGIN ISLANDS (BVI) ANNUAL RENEWAL NOTICE

BVI Government Licence Fees Dates and Penalties:

Companies Incorporated between January 1st to June 30th –
Funds must be credited to our account for payment to the Registry before May 15 deadline to avoid penalties below:
*June 1st – July 31st  - 10 % Penalty
*August 1st – October 31st  - 50% Penalty
*November 1st  - STRUCK OFF / 50% Penalty + RESTORATION FEE $825 (standard capital)
*February 1st 2006 - RESTORATION FEE USD1125 (standard capital)


Companies Incorporated between July 1st to December 31st –
Funds must be credited to our account for payment to the Registry before October 30th.
deadline to avoid penalties below:
*December 1st  – January 31st 2006 - 10 % Penalty
*February 1st – April 30th 2006 - 50% Penalty
*May 1st 2006 - STRUCK OFF / 50% Penalty + RESTORATION FEE $825 (standard capital)
*August 1st 2006 - RESTORATION FEE USD1125 (standard capital)


NOTE:

It is the responsibility of all clients to ensure that payments are made to us, in a timely manner thus keeping the companies in good standing with the BVI government.

We will do our best to send you reminders before the due dates but we cannot be held liable if your fees are not paid before the deadline if you do not pay on time.

We do not advance annual fees and we encourage clients in view of the high number of transactions received by our bank during licence fees time, to as indicated on your invoice.

Failure to pay before this may result in your company being struck from the register of companies in the British Virgin Islands. We remind you that companies not in good standing with the BVI government as a result of being struck off or removed from the register are forbidden from carrying on business or trading and must settled all fees outstanding.

To ensure we receive full amount to credit your account in full, when submitting funds via wire transfer, kindly remember to advise your bank that you will pay all wire charges; Do not indicate that that the intermediary or receiving bank will “share” or that the beneficiary bank will pay such charges. Indicate your company name so that funds are credited properly.

We may be unable to credit amount and re-license companies if you did not indicate your company name on the wire instruction or other payment.

See also:
Features of British Virgin Islands Business Company
British Virgin Islands Business Company Maintenance Guidelines
British Virgin Islands Business Company Internal Management Notes
British Virgin Islands Business Company Share Capital

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