BVI financial services fees regime updated
The Financial Services (Fees) (Amendment) Regulations 2023 (the New Fee Regulations) has revoked the Financial Services (Fees) Regulations 2010.
The New Fee Regulations was made by Cabinet and Gazetted on 25 January 2023 and is scheduled to come into force on 1 April 2023.
Item number (xi) of the New Fee Regulations, as it relates to virtual asset services, will come into force on the date the Virtual Asset Service Providers Act 2022 comes into force.
Financial service providers, industry participants, and regulated entities should note the new schedule of fees under the various financial services legislation referred to in the New Fee Regulations.
A copy of the New Fee Regulations can be found here.