Annual Return
The Investment Business (Approved Managers) Regulations (As Revised) (the "Regulations") provides a regulatory 'light' regime for qualifying managers and advisers incorporated in the British Virgin Islands ("BVI") ("BVI Approved Managers").
BVI Approved Managers are required to file an annual return with the BVI Financial Services Commission (the "Commission") by 31 January 2023 in respect of the preceding year pursuant to the Regulations.
The annual return should be in a prescribed form confirming:
(a) Compliance with the requirements of the Regulations;
(b) That each director, senior officer and shareholder with a significant interest is fit and proper; and
(c) Details of (i) entities the BVI Approved Manager provides services to; (ii) the assets under management for such entities; (iii) the number of investors for such entities; and (iv) whether the BVI Approved Manager has received any significant complaints.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
