BVI Business Companies increase in Annual Fees effective 1 Jan 2023

The British Virgin Islands Financial Services Commission (FSC) has recently announced an increase in Annual Licence Fees coming in to effect on 1 January 2023.

This fee increase applies to all new incorporations and renewals taking place in 2023, and does not apply to any 2022 Annual Licence Fee.

Annual Licence Fee changes as follows regarding BVI Business Companies:

Company type	Fee type	Current fee (USD)	New fee effective 1 Jan 2023 (USD)
Standard company authorised to issue up to 50,000 shares	Government incorporation fee	450	550
	Annual licence fee	450	550
Standard company authorised to issue more than 50,000 shares	Government incorporation fee	1,350	1,350
	Annual licence fee	1,200	1,350

The FSC has also increased the fee for the issuance of certificates as well as introduced some new fees to replace the current filing arrangements. Please click here to view the full BVI Business Companies (Amendment of Schedule 1) (No.2) Order, 2022.

Please see our summary of notable changes below:

Registrar disbursements fees	Current fee (USD)	New fee effective 1 Jan 2023 (USD)
Certificate of good standing	50	100
For filing a copy of a register of directors for registration by the Registrar	75	100
For filing a copy of a register containing a change	75	50

Clients planning to incorporate a new BVI company can benefit from the current registration fees until the end of the year and should contact their usual Marbury advisor for further details.