BVI Government Penalty for Late Filing

The BVI Government has announced that with effect from 1 September 2018, the maximum government penalty for the late filing of the Register of Director (ROD) has been reduced from US$8,000 to US$5,000.

The Government’s Order further provides:

  • that the maximum penalty shall be treated as if it were US$5,000 from the date the penalty became applicable (therefore giving retroactive effect to the US$5,000 penalty); 

  • where a penalty above US$5,000 was previously paid, a refund of the difference between the amount paid and $5,000 shall be issued; and

  • Where an existing company fails to file a copyof the Register of Directors on or before 31December 2018, the Registrar may strike the nameof the company off the Register.