Get A Fixed Quote

ACCOUNTING

Accurate, consistent and relevant reporting is the yardstick for knowing where a business is and where it is going.
Whether it be to satisfy regulatory requirements, internal reporting or to assist in effective planning, we have the solution for you.
Our management team is made up of professional accountants with over 25 years of public and private accounting experience across a broad spectrum of industries and in particular financial services.

Our specialist areas:

Annual Financial Statements

BVI requirement

A BVI regulated entity is required to submit its audited financial statements to the BVI Financial Services Commission in accordance with its relevant act within 6 months following its respective year end. As per the relevant act these financial statements must comply with recognized accounting standards, for example IFRS and US GAAP.
Management of exempted or non-regulated entities, in accordance with good governance, may also deem it appropriate to prepare unaudited annual financial statements.

Why Richmond Advisory?

Annual Financial Statements

Low fixed cost

$ 1,950
  • Based on a non-complex standalone entity having clear accounting records and prepared under IFRS or US GAAP. If this is not the case, please contact us for a tailored low fixed quote.
  • We offer discounted rates for bulk engagements.
Get Started

BVI Annual Financial Return

BVI requirement

BVI companies are now required to provide certain financial information to their registered agent on an annual basis in the form of an Annual Financial Return (“Return”).

What needs to be filed?

The form of the Return is a simple Income Statement and Balance Sheet.

The Return does not need to be audited and can be prepared under any of the recognised accounting standards.

Key dates and deadlines

The filing of the Return can commence from 1 January 2024 depending on the financial year end of the company which will have 9 months after the end of its financial year to make the relevant submission.

Penalty for non-compliance

Any company that does not file the Return within the required timeframe shall be liable to financial penalties which can increase, dependent on the timing of the delayed filing, up to $5,000. A company that has incurred the maximum penalty and whose Return remains outstanding may also be struck off by the Registrar.

Where a registered agent fails to comply with the previously mentioned responsibilities, including failing to notify the Registrar of non-compliance, they shall be liable on conviction of a fine up to $3,000.

Why Richmond Advisory?

BVI Annual Financial Return

Low fixed cost

$ 450
  • Based on a non-complex entity having clear accessible data. If this is not the case, please contact us for a tailored low fixed quote.
  • We offer discounted rates for bulk engagements.
Get Started

Management accounts, bookkeeping and financial advisory services

Best practice

Frequent management accounts supported by accurate bookkeeping provide a vital tool for senior management to make effective business decisions alongside keeping investors and stakeholders regularly updated with performance. Monthly or quarterly management accounts improve year-end internal reporting and external deliverance of information to stakeholders.

Why Richmond Advisory?

Low fixed cost

  • Once the scope of the work is defined, we will commit to a tailored low fixed quote.
Get Started