The British Virgin Islands (BVI) has significantly expanded the information that BVI Business Companies and BVI Limited Partnerships must report in their Annual Financial Return. If your structure includes a BVI Business Company or a BVI Limited Partnership, returns due from 2027 will require a much greater level of detail than today.
In this article we explain what has changed, who is affected and what steps are worth taking now to be ready for the next filing.
What is the BVI Annual Financial Return?
The Annual Financial Return is a filing obligation that entities incorporated in the BVI must already meet under current legislation. Until now, its content was essentially limited to a simplified balance sheet and income statement.
With the new amendments, the Annual Financial Return becomes a much more comprehensive financial disclosure document. The filing framework remains the same, but the information that must be included grows considerably.
The new rules: the 2026 amendment orders
The British Virgin Islands Financial Services Commission (BVI FSC) has published two instruments amending the Annual Financial Return requirements:
- BVI Business Companies (Financial Return) (Amendment) Order, 2026
- BVI Limited Partnership (Financial Return) (Amendment) Order, 2026
Both orders came into force on 2 November 2026 and will apply to Annual Financial Returns due to be filed from 2027 onwards.
New disclosure requirements for BVI Business Companies
The revised forms require a detailed breakdown in six key areas:
| Area | New requirement |
| Cash and bank accounts | Identify the types and amounts of cash held, including the name and jurisdiction of each bank or financial institution. |
| Loans and receivables | Break down related-party loans, third-party loans and receivables where, together, they represent 25% or more of total assets. |
| Investments | Disclose investments by category and value: shares, bonds, investment funds, derivatives and virtual assets. |
| Fixed assets | Detail and value tangible and intangible assets, including real estate, equipment, intellectual property and goodwill. |
| Revenue | Break down revenue by category, rather than reporting totals only. |
| Expenses | Provide a more detailed classification of operating expenses and other expenses. |
In practice, this means the entity will need accounting records organised by category, with supporting documentation for each reported figure, not just consolidated totals.
Additional changes for BVI Limited Partnerships
Limited Partnerships, widely used in investment and fund structures, will also face expanded reporting requirements, including:
- Receivables: where trade and other receivables represent 25% or more of total assets, each one must be listed with its value.
- Liabilities: trade and other payables, borrowings and other liabilities are reported separately.
- Gains and losses: disclosure of realised and unrealised gains and losses.
- Interest: separate reporting of interest income and interest expense.
For fund managers and investment vehicles, these changes mean reviewing how positions are recorded and valued throughout the year, not only at year-end.
Who is affected?
The amendments affect:
- All BVI Business Companies required to file the Annual Financial Return.
- All BVI Limited Partnerships, with particular impact on investment and fund structures.
It is important to stress that this is not a new obligation: the amendments expand the information required in a return that entities must already file. No entity subject to this obligation should therefore assume the change does not apply to it.
The updated forms have already been published, so entities can review them now and prepare early for the additional requirements of returns due from 2027.
Frequently asked questions
- When do the new BVI Annual Financial Return requirements apply? The amendment orders came into force on 2 November 2026 and apply to Annual Financial Returns due to be filed from 2027 onwards.
- Is this a new filing obligation? No. Entities must already file the Annual Financial Return under current BVI legislation. What changes is the level of detail required.
- Which entities must comply with the new requirements? BVI Business Companies and BVI Limited Partnerships that are subject to the obligation to file the Annual Financial Return.
- Must virtual assets be reported? Yes. The new forms include virtual assets among the investment categories that must be disclosed by category and value.
- When must loans and receivables be broken down? When related-party loans, third-party loans and receivables together represent 25% or more of the entity’s total assets.
How OMC can help
At OMC we support companies, investors and fund managers in meeting their corporate obligations in the British Virgin Islands, and we will monitor any further guidance issued by the BVI authorities on these amendments.
If your structure includes a BVI Business Company or a BVI Limited Partnership and you would like to know how these changes affect you, contact us: our team will be happy to guide you.
Legislative references
- BVI Business Companies (Financial Return) (Amendment) Order, 2026
- BVI Limited Partnership (Financial Return) (Amendment) Order, 2026
Important: The information provided by OMC Group on the BVI Annual Financial Return requirements is strictly for informational and procedural management purposes. OMC Group does not provide legal, accounting or tax advice. Each structure should be independently assessed and validated by the legal, accounting or tax advisors of the intermediary or end client, under the rules applicable in their countries of residence.
