Preparation of Financial Statements for a BVI Company

According to the British Virgin Islands Commercial Companies (Financial Reporting) Regulation 2023, BVI companies are required to submit an annual financial report to the registered agent within 9 months after the end of the financial year. Therefore, the first report for 2023 must be sent to the agent by September 30, 2024.

Our Services

1. Preparation of Financial Statements in accordance with the requirements of the BVI Commercial Companies Regulation. When preparing financial statements, we base our work on IFRS accounting principles.

• Cost: Determined individually, taking into account the specifics of the company's activities.
• Timeframe: From 2 weeks to 3 months.

Results You Receive

• Financial statements in a specific format (see the British Virgin Islands Commercial Companies (Financial Reporting) Regulation 2023).
• Accounting registers necessary for the business owner/owner's representative to understand the reporting indicators. We document each stage of work in detail to make it more transparent and understandable for the client.

In practice, we have encountered cases of prolonged work by engaged foreign contractors or registered agents, leading to non-compliance with agreed deadlines. Often, other contractors do not offer options for documenting business transactions. These circumstances entail risks of fines due to non-compliance with reporting deadlines or even exclusion from the Register.

2. Formation of a Liquidation Balance (when liquidating a company)

If you plan to liquidate a company in the BVI, we also provide services for the preparation of a liquidation balance.

If we have prepared financial statements for you for the previous year according to the BVI Commercial Companies Regulation, the cost of providing the liquidation balance service will be lower.