BVI companies and limited partnerships: revised Financial Annual Return requirements

The BVI Financial Services Commission (FSC) has published two orders amending the Financial Annual Return (FAR) requirements for BVI companies and limited partnerships, and has since issued guidance notes on completing the revised returns (Industry Circular 31 of 2026).

The BVI Business Companies (Financial Return) (Amendment) Order, 2026 and the Limited Partnership (Financial Return) (Amendment) Order, 2026 were signed and gazetted on 30 October 2026 and are effective as of 2 November 2026.

The FAR requirement itself is not new, but the revised return requires more detail within certain areas of the financial information already reported. For BVI business companies, the main changes are:

• • Cash and cash equivalents: where funds are held with a bank or other institution, the name and jurisdiction of that institution must be provided.
  • Loans and receivables: where these represent 25% or more of total assets, further information on their nature and value must be provided.
  • Investments and other financial assets: investments must be identified by type and value, where applicable.
  • Other assets: certain asset categories require a further breakdown by type and value.
  • Revenue and operating expenses: these must be reported in greater detail, using categories that reflect the nature of the company's activities. Limited partnerships: similar changes have been introduced, with limited partnerships required to report additional information about assets, income and expenses.

The revised requirements apply to returns that must be filed or submitted from 2027 onwards. The FAR is still submitted to your registered agent, not to the FSC, within nine months of your financial year end. The FSC has also published frequently asked questions on the changes, together with guidance notes on completing the revised returns.

Why are these changes being introduced?

The changes form part of the BVI's ongoing commitment to maintaining international standards for financial transparency and the availability of reliable accounting information. The revised FAR is intended to provide greater clarity and consistency in the financial information maintained for BVI entities, while building on the existing annual return framework.

What remains the same?

The revised requirements do not introduce a requirement for audited financial statements, and the FAR does not need to be prepared or reviewed by an external accountant. You may continue to use the accounting basis appropriate to your circumstances, although the basis used will need to be stated in the revised return.

What does this mean for BVI companies and limited partnerships?

No immediate action is required. However, now is a good time to check that your accounting records and supporting financial information will capture the additional information needed, so that it can be readily provided when your filing deadline approaches.

For an example of a completed return, see Appendix 1 (pages 15–16) of the FSC's guidance notes. Our Accounting Services team can help prepare your accounting records and financial statements and complete your FAR. For more on how the FAR works, read our guide, Navigating the BVI Financial Annual Return requirements.

If you have questions, contact us at BVIFAR@ascentium.com.