Form a BVI company
BVI yearly filings 2026

BVI annual fees and filings: every date, every penalty

Updated 11 November 2026BVI Business Companies Act, 2025 consolidationAbout 9 minutes to read
The short answer

A BVI company pays the government US$550 a year, by 31 May if it was formed in January to June or 30 November if formed later, and files an economic substance declaration and a private financial return.

Miss the fee and it costs 10%, then 50% more. With us it all comes to US$1,159 a year.

Work out my dates Check a penalty
The costly date 50% penalty on the annual fee once it is two months late 10% before that. Then the Registrar can strike the company off, and since 2023 that means it is dissolved.

The BVI is cheap to keep only if you never miss a date. One annual fee, one substance declaration and one financial return each year, and every one has a fixed deadline and a penalty written into law. Put your formation date in once and you'll see every date your company will meet for the next two years. The figures below come from the BVI Business Companies Act as it stands in 2026.

Key takeaways

  • The government fee is US$550 a year (US$1,350 above 50,000 authorised shares), due by 31 May or 30 November depending on when the company was formed.
  • Pay late and it costs 10% more, then 50% more two months after the due date.
  • An economic substance declaration is due 6 months after each year end, and a financial return to the agent 9 months after.
  • Late register filings carry their own monthly penalties, up to US$6,000 for a late change of owner.
  • Closing properly costs US$350 in Registry fees. Walking away costs more, because the company stays liable for every unpaid fee.
  • With Heirson, a standard company costs US$1,159 a year, all filings included.
Chapter 1

BVI deadline calculator: every date from your formation day

A standard BVI company, each year2026
Government annual feeUS$550
Agent, office and filingsUS$609
Due by31 May or 30 Nov
Your yearly totalUS$1,159
Your own country may ask about the company too. Where you live: pick it

Two things set your calendar: the month the company was formed, which fixes the annual fee date, and its financial year end, which fixes the two returns.

Financial year ends on
Authorised shares

    The first financial year is taken to end on the first year end after formation; your agent confirms it when the company is set up. Dates falling on a weekend still count.

    1
    Key takeaway

    Your formation month sets the fee date; your year end sets the two returns.

    Chapter 2

    What a BVI company costs to keep each year

    The government fee is the only figure fixed by law, set at US$550 and US$1,350 from 1 January 2023 by the 2022 order amending Schedule 1 of the Act. Everything else is the agent, the office and the filings, which every BVI company must have and pay someone for.

    • Year one, standard$1,444
    • Year two on, standard$1,159
    • Year two on, over 50,000 shares$1,959
    • Annual fee paid 2 months late+$275
    Inside our US$609 a year
    • Licensed BVI registered agent and registered office
    • The US$550 government fee, paid before the due date
    • Economic substance declaration, nil ones included
    • Financial return filed with the agent
    • Registers of members, directors and owners kept current
    • Every date in your dashboard, with reminders
    Not inside it
    • Registry fees for changes during the year, at cost
    • A certificate of good standing, US$100 at cost
    • Nominee director or shareholder, US$480 a year each
    • Staff, premises or management in the BVI, which a company with a relevant activity must have
    • Closing or moving the company, priced before anything is filed
    2
    Key takeaway

    The law fixes only US$550. The rest is the agent and the filings every company needs.

    Chapter 3

    Four yearly filings, three different recipients

    1

    None of these filings is published. Each goes to a different body, which is why founders lose track of them.

    RegistrarThe annual fee, and any change to the registers of members, directors and beneficial owners within 30 days of it happening
    Tax authorityThe declaration required by the Economic Substance Act, which only a registered agent can file, within 6 months of the year end
    Your agentThe financial return: a balance sheet and an income statement in the FSC's template, within 9 months of the year end

    The financial return isn't audited and isn't sent to the Registry. If it's late, section 98A of the Act makes the agent tell the Registrar within 30 days, and that shows on any later certificate of good standing. The FSC can extend the period by notice, as it did for the first returns in its notice of December 2024.

    3
    Key takeaway

    Registrar, tax authority, agent: three recipients, and none of it is public.

    Chapter 4

    BVI late filing penalties: what each missed date costs

    Part II of Schedule 1 of the Business Companies Act prices every late filing by the month, and since February 2022 the annual fee penalty has been 10% of the fee, then 50%. Pick the one you're worried about.

    What was missed
    How late

    Late economic substance penalties are suspended for now, while the tax authority fixes its filing system, under the International Tax Authority's notice of 19 May 2026.

    4
    Key takeaway

    Late filings are priced by the month, and an owner change costs the most.

    Chapter 5

    Fees for changes during the year

    Swap a director, sell shares or add an owner and the Registry charges a small fee to update its private copy. These are the 2026 amounts.

    US$50New or departing director, filed within 30 days
    US$75Change of shareholder in the register of members
    US$75Change of beneficial owner, within 30 days of knowing
    US$850Raising authorised shares above 50,000, then US$1,350 a year
    US$100Certificate of good standing, for banks and buyers
    US$75Certified copy of the certificate of incorporation
    5
    Key takeaway

    Small changes in the year cost US$50 to US$75 each at the Registry.

    Chapter 6

    If the fee goes unpaid: strike-off, dissolution and restoration

    1. Due date31 May or 30 NovemberThe fee is owed in full; nothing is added yet.
    2. Up to 2 months late10% penaltyUS$55 on a standard company.
    3. 2 months late and after50% penaltyUS$275 on a standard company, and it keeps the company exposed.
    4. Strike-off notice90 days to put it rightThe Registrar gives notice that the company is liable to be struck off and dissolved.
    5. Strike-offDissolved on that dateSince 2023 a struck-off company is dissolved, not left dormant for years. Its bank account and contracts stop working.

    Bringing it back costs a US$200 application and US$500 restoration fee within 12 months of dissolution, or US$400 and US$1,200 after that, plus every unpaid fee and penalty. A company stays liable for those either way.

    6
    Key takeaway

    An unpaid fee ends in dissolution, and the debts stay with the company.

    Chapter 7

    How to close or move a BVI company

    APOSTILLE
    What do you want to happen to the company?

    Timing matters: a liquidation that finishes before your next fee date saves that year's fee. Start at least three months ahead, because creditors must have time to see the Gazette notice.

    7
    Key takeaway

    Close it by liquidation or move it by continuation; never just stop paying.

    Chapter 8

    BVI annual fees and filings: questions, answered

    ?!
    How much is the BVI annual fee in 2026?
    US$550 a year for a company authorised to issue up to 50,000 shares, and US$1,350 above that. It has been at that level since 1 January 2023.
    When is the BVI annual fee due?
    By 31 May if the company was formed between January and June, and by 30 November if it was formed between July and December. The first one falls in the year after formation.
    What is the penalty for paying the BVI annual fee late?
    10% of the fee if you pay within two months of the due date, and 50% after that. Left unpaid, the Registrar can strike the company off, and it is then dissolved.
    Does a BVI company file accounts?
    Not publicly, and there is no audit for an ordinary company. It sends a simple financial return, a balance sheet and an income statement, to its registered agent within 9 months of its year end.
    Does a BVI company with no activity still file economic substance?
    Yes. Every BVI company declares each year, through its agent, whether it carried on a relevant activity, within 6 months of its year end. A nil declaration is still a filing.
    How do I close a BVI company properly?
    By voluntary liquidation: resolutions, a liquidation plan, a declaration of solvency, a liquidator appointed and filed, notices in the Gazette, then a completion statement and a certificate of dissolution. The Registry's own fees are US$350.
    Can I move my BVI company to another country?
    Yes, if the other country accepts continuations. The BVI charges US$250 to file the notice of intention and US$2,500 to register the continuation out.
    What does Heirson charge each year?
    US$1,159 for a standard company: the US$550 government fee at cost plus our US$609, which keeps the agent, the office and every yearly filing in place.

    Changelog

    • 11 November 2026: first published.
    • 13 November 2026: official sources linked inside the text.
    Your BVI company

    A BVI company that never misses a date.

    We pay the fee before it falls due and file both returns, for US$1,159 a year.

    See the BVI company BVI bank accounts