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BVI Highlights Forthcoming Fee Changes

by Phillip Morton, Investors Offshore.com

29 December 2010


The British Virgin Islands Financial Services Commission (FSC) has issued a notice reminding regulated entities that fees applicable under financial services legislation will change with effect from January 1, 2011.

The Financial Services Commission (Fees) Regulations, 2010, which were made by Cabinet, on the advice of the FSC, were published in the Gazette on October 14, 2010, and will replace the Financial Services Commission (Fees) Regulations, 2005.

Similarly the Insolvency Practitioners (Amendment) Regulations, 2010 were also published in the same issue of the Gazette. These Regulations will replace the Insolvency Practitioners Regulations, 2004.

Further, the Financial Services Commission (Securities and Investment Business Fees) Regulations, 2010, were gazetted in April 2010.

The Regulations, copies of which are available on the Commission’s website, cover application fees, annual licence fees and other fees due under various financial services legislation.

TAGS: tax | business | financial services | international financial centres (IFC) | Virgin Islands | fees | offshore | legislation | regulation | British Virgin Islands | services

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