22 June 2021


Subject: BVI Companies - Registry Fee Increases effective 1 July 2021

Dear Client,

The British Virgin Islands (BVI) Financial Services Commission has announced Registry fee increases.

The Registry fee increases were reflected in theBVI Business Companies (Amendment of Schedule 1) Order, 2021 (the Order) and Financial Services (Limited Partnership Fees) (Amendment) Regulations, 2021, which laws will become effective on 1 July 2021.

TheOrderand theRegulationscan be found here.

What are the key changes?

The key impact will be on fees payable to the Registry.

Please note that Vistra's approach will be to pass on the new Registry fees. This means that we are ONLY increasing our service feesby the amount of the Registry fee increases, withNO additional feeson Vistra's part.

Please also note that these fee increases will NOT affect Annual Licence Fees.

What does this mean for me?

There will be consequential fee increases forNew Incorporationsand specificTechnical Services.

Please note that for New Incorporations, the fee increase ONLY relates to circumstances when an original Certificate of Incorporation is required.

Regarding the provision of an original Certificate of Incorporation, Vistra's standard practice will be to order and provide an original, unless otherwise advised. This means that a newUS$50 Registry feewill apply. If clients are happy with an electronic version of the Certificate, this can be provided by the Registry at no additional fee.

Regarding other Certificates provided by the Registry, such asregistration, restoration, merger, consolidation, arrangement, continuation, discontinuance, deregistration, good standing, etc., the Order and Regulations provide for similar new Registry fees. Vistra's standard practice with respect to these certificates will be similar to the Certificate of Incorporation, as mentioned above.

Regarding initial filings for Register of Directors, a Registry fee of US$75 will apply.

Contact us

Should you have any questions about this communication, please reach out to your regular Vistra contact.

We appreciate your ongoing support and understanding.

Yours sincerely,

The Vistra Company Formation Team