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Annual returns mandatory for BVI regulated funds
Posted: 2 July 2009
The British Virgin Islands Financial Services Commission (FSC) announced the introduction of an annual reporting regime for all regulated British Virgin Islands private, professional and public funds. Although legislation concerning Annual Returns has yet to be passed, it is still anticipated that the FSC will make Annual Returns mandatory by the end of June 2009. This means that all funds must file their Annual Returns for the 2008 reporting period by 30 June 2009. If legislation does come into effect, funds could be faced with enforcement action if they fail to meet the deadline according to offshore law firm Maples and Calder.
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