基金、家族理财办公室和高净值个人在搭建境外架构以持有投资和房地产时，很多时候会考虑在英属维尔京群岛（British Virgin Islands，简称“BVI”）注册公司，作为其投资架构的组成部分。
近期，BVI的金融服务委员会（Financial Services Commission，简称“FSC”）发布了一项法令，规定除少数情况外，BVI公司必须从2023年1月1日起准备年度财务报表（Annual Financial Return），其中包括资产负债表/财务状况表以及利润表。不遵守此项规定可能会导致最高累计5,000美元的罚款，并有可能导致公司在公司注册处除名。
毕马威可以协助您编制这些财务报表，以符合这一新合规要求。
概览
近年来，BVI多次对其《商业公司法》进行修订，旨在表明其对提高信息透明度和打击洗钱的决心。BVI公司必须保存财务记录以可以如实地反映公司的交易，并合理、准确地反映公司的财务状况。然而，除了一些被FSC监管的公司外，BVI公司通常不需要编制财务报表。
2023年8月颁布的《BVI商业公司法（修订）》（2023）（BVI Business Companies (Amendment) Act, 2023）引入了年度财务报表的要求。2023年3月2日，FSC发布了《BVI公司（财务报表）法令》（2023）（Business Companies (Financial Return) Order,2023，简称“《2023年法令》”），进一步明确了BVI公司向其注册代理人申报年度财务报表所需的信息和格式。除少数情况外，BVI公司将被要求从2024年开始申报年度财务报表。
我们将年度财务报表的要点总结如下，供您参阅。
年度财务报表的要求
FSC已在《2023年法令》中对年度财务报表的格式进行了详细规定，年度财务报表应包括资产负债表/财务状况表以及利润表。
编制年度财务报表默认的币种为美元，但也可以采用其他币种编制年度财务报表。
年度财务报表及其底层数据无需经过审计。
年度财务报表必须经BVI公司的注册代理人或董事确认准确无误。
年度财务报表的申报期限和申报程序
年度财务报表的申报期限取决于公司的财务年度。BVI公司必须向其注册代理人在财务年度终止后的九个月内申报其年度财务报表。
《2023年法令》列示了一些如何确定年度财务报表申报期限的例子。例如，对于财务年度为2023年1月1日至2023年12月31日的公司，其首个年度财务报表申报义务于2024年1月1日发生，该公司需在2024年9月30日前向其注册代理人申报年度财务报表。
豁免申报年度财务报表的情况
FSC确定了以下豁免申报年度财务报表的情况：
上市公司，指在证券交易所上市的公司；
受金融服务法例监管，并已按照金融服务法例的要求向FSC提供财务报表的公司；
向税务局（Inland Revenue Department）提交年度纳税申报表并附有财务报表的公司；
以及处于清算中的公司，但如果该公司的年度财务报表申报义务在清算开始前发生，则该豁免不适用。
如BVI公司不属于上述的例外情况，则需按照要求进行年度财务报表申报。
未申报年度财务报表的后果
如公司未按规定申报年度财务报表，注册代理人须向公司注册处申报此不合规行为。此外，不遵守《2023年法令》可能导致最高5,000美元的罚款。当达到这最高罚款总额时，如公司仍然不申报年度财务报表，可能会导致公司在公司注册处除名。
下一步行动
我们建议属于《2023年法令》范围内的BVI公司应制定适当的工作流程，以为公司在编制年度财务报表时提供足够的文件记录。毕马威团队非常乐意协助您准备会计记录和年度财务报表。如果您需要进一步了解上述关于年度财务报表的要求，请随时与我们的团队联系。
欢迎将需求或问题发送邮件至taxenquiry@kpmg.com，后续将有专人与您联系。
The use of companies incorporated in the British Virgin Islands (“BVI”) remains a popular component of corporate structures used by funds, family offices and high-net worth individuals to hold investments and real estate assets.
The Financial Services Commission (“FSC”) of the BVI has recently issued an order specifying that BVI companies, subject to a few exclusions, must file an Annual Financial Return (“AFR”), consisting of a Balance Sheet / Statement of Financial Position and an Income Statement, effective from 1 January 2023. Failure to comply may result in maximum aggregate fines of US$5,000 and the potential to have the company struck off the register.
KPMG can assist clients with the preparation of AFR to comply with this new requirement.
Overview
The BVI FSC has introduced a number of changes to its Business Companies Act in recent years, aiming to demonstrate its commitment to enhance transparency and to combat money laundering. BVI companies have been required to maintain financial records which sufficiently show the company’s transactions and give a reasonably accurate representation of the financial position of the company. However, unless the BVI companies were regulated by FSC, the entities were generally not required to prepare financial statements.
BVI Business Companies (Amendment) Act, 2023, which was enacted in August 2023, introduced the AFR requirement. On 2 March 2023, the FSC issued the BVI Business Companies (Financial Return) Order, 2023 (“2023 Order”) to provide further clarity as to the required information and format of the AFR to be filed with the BVI company’s registered agent. Subject to a few exclusions, BVI companies will be required to file this AFR beginning in 2024.
We summarize below the salient points of the AFR for your perusal.
Requirements of the AFR
The format of the AFR has been detailed by the FSC as set out in the 2023 Order. It includes a Balance Sheet / Statement of Financial Position and an Income Statement.
The default currency of the filing is US$, but it can also be filed in the currency in which the underlying records are prepared.
There is no explicit requirement for the AFR or its underlying data to be audited.
The AFR must be certified as correct by the registered agent or the directors of the BVI company.
Due date of the AFR and the filing process
The date the AFR becomes due is dependent on the company’s fiscal year end. The AFR must be filed with the company’s registered agent within nine months after the AFR becomes due.
The 2023 Order sets out a few examples on the determination of the AFR due date and when the filing must be made. Companies that have a financial year of 1 January 2023 to 31 December 2023 will have their first AFR due on 1 January 2024 and will have until 30 September 2024 to file the AFR.
Exemptions from AFR filing
The FSC identified the following exclusions to this requirement:
a listed company, meaning a company that is listed on a stock exchange;
a company that is regulated under a financial services legislation and provides financial statements to the FSC in accordance with the requirements of that financial services legislation;
a company that files its annual tax return to the Inland Revenue Department accompanied by the company’s financial statements;
and a company in liquidation, except that this exemption does not apply if the company’s annual return becomes due prior to the commencement of the liquidation.
If the BVI company does not fall within the above exclusions, it is required to follow the AFR filing rules as set out above.
Consequences for failing to file an AFR
If the company does not file the AFR according to the requirements, the registered agent must inform the Registrar of Corporate Affairs of the non-compliance within 30 days of the due date. In addition, failure to comply with the 2023 Order could result in fines of up to US$5,000. When this maximum aggregated fine is reached, subsequent failure to file the AFR could result in having the company struck off the register of companies.
Next steps
BVI companies which fall under the scope of the 2023 Order are suggested to have processes in place so that sufficient documentation is maintained for the preparation of the AFR. Our team at KPMG would be very pleased to support you in the preparation of accounts and the AFR. Please feel free to reach out to our team if you would like to further understand the requirements.
For any questions or enquiries, please do not hesitate to send them to taxenquiry@kpmg.com.