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BVI Company Annual Renewal
Information provider:zanya consultants    Updated:2016/10/25    Website:www.companyformation86.com

Overview of Annual Renewal of Offshore Company


Generally, the annual renewal fees consist of two parts: (A) mandatory fees, which cover the absolute minimum necessary to maintain the company in good standing, and (B) optional fees, for services that enhance and improve the offshore company, but are not compulsory. Usually, the scope of the optional fees depend on the exact configuration of the offshore company, as it was done at or following the incorporation.


The mandatory fees always include (a) Government fee, and (b) Registered Office and Registered Agent fee.


The optional fees would be payable for offshore company management services, like (a) nominee shareholders; (b) third-party directorship services; (c) third-party account signatory services; (d) mail and fax forwarding, document remailing and call handling, also known as "virtual office" services; (e) miscellaneous secretarial, legal and administrative services, billed either on fixed-fee basis or according to time-spent.


Detail information of BVI Company Annual Renewal


The annual renewal fee for a BVI Offshore Company does not matter what the profits or losses for the offshore company is, but mainly based on the maximum number of shares the BVI company is authorized to issue within its Memorandum and Articles of Association.  


There are two time periods for BVI Company Annual Renewal which are as following:


(1)  Companies incorporated between January 1st to June 30th; funds must be credited to our account for payment to the Registry before May 31st deadline to avoid penalties below:

(a)  June 1st - July 31st - 10 % Penalty
(b)  August 1st - October 31st - 50% Penalty
(c)  November 1st - Struck off / 50% Penalty + Restoration fee $825 (standard capital)
(d)  February 1st 2006 – Restoration fee USD1125 (standard capital)


(2)  Companies incorporated between July1st to December 31st; funds must be credited to our account for payment to the Registry before November 30th deadline to avoid penalties below:

(a)  December 1st - January 31st 2006 - 10 % Penalty
(b)  February 1st - April 30th 2006 - 50% Penalty
(c)  May 1st 2006 - Struck off / 50% Penalty + Restoration fee $825 (standard capital)
(d)  August 1st 2006 - Restoration fee USD1125 (standard capital)


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