BRITISH VIRGIN ISLANDS - Mossack Fonseca & Co.

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5. Subject to paragraphs 7 and 8, the date when the annual fee payable by a
company is due shall be determined as follows:
(a) if the company was incorporated or continued, or in the case of a
consolidated company, the articles of consolidation were registered,
between 1 st January and 30 th June in any year, the annual fee shall be due
on the 31 st May of each year, commencing in the year following its
incorporation, continuation or consolidation; 6
(b) if the company was incorporated or continued, or in the case of a
consolidated company, the articles of consolidation were registered,
between 1 st July and 31 st December in any year, the annual fee shall be due
on the 30 th November of each year, commencing in the year following its
incorporation, continuation or consolidation.
6. For the purposes of paragraph 5, the annual fee payable by a company is the
annual fee specified in Part I of this Schedule or in paragraph 31 or 48 of
Schedule 2, as the case may be.
7. Paragraph 5 applies to a former Act company re-registered under Schedule 2,
whether on application under Part II or automatically under Part III of that
Schedule, with the following modifications:
(a) the relevant date for determining whether the company falls within
paragraph 5(a) or 5(b), is
(i) in the case of an IBC, the date of its incorporation, continuation or
consolidation under the International Business Companies Act, and
(ii) in the case of a CapCo, the date of its incorporation under the
Companies Act; and
(b) subject to paragraph 8, the liability of a former Act company that is re-
registered under Schedule 2 to pay the annual fee due under this Act
shall commence in the year of its re-registration.
8. A former Act company re-registered on application under Part II of Schedule 2
shall not be liable to pay an annual fee in the year of its re-registration if the
annual licence fee payable by the company under the applicable former Act for
that year became due on or before the date of its re-registration.
9. For the purposes of paragraphs 10 to 12
(a) a company is a bearer share company if
6 The word “or” should follow the word “consolidation;”
AE/ET/Pub./bg/03.2007
Date annual
fee due,
company.
Meaning of
annual fee.
Application of
paragraph 5 to
former Act
companies.
Exception to
paragraph 7.
Interpretation
for paragraphs
10 to 12.