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BVI Business Companies Act, 2004

SCHEDULE 1

Fees and Penalties

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PART II – PENALTIES

If a company fails to pay the annual fee payable under Part I of this Schedule on or before the date on which the annual fee is due, it shall, in addition to the annual fee, be liable to a penalty calculated as follows:

(a) if the fee is paid before the expiration of two months after the date when the fee is due, the penalty payable shall be equal to ten per cent of the annual fee due; or

(b) if the fee is paid after the expiration of two months after the date when the fee is due, the penalty payable shall be equal to fifty per cent of the annual fee due.