Financial Services (Limited Partnership Fees) (Amendment) (No. 2) Regulations, 2024

Summary

This regulation amends the fee schedule under the Financial Services (Limited Partnership Fees) Regulations, Revised Edition 2020, updating the fees charged for beneficial ownership related filings by limited partnerships registered in the Virgin Islands. It takes effect on 2 January 2025.

• Beneficial ownership change filing: The fee for filing a change in beneficial ownership information under section 53B(8) is set at 50 (replacing the prior fee reference in Schedule 1, Part I).
• Existing limited partnership registration filing: A new fee item is added for existing limited partnerships filing with the Registrar the information required under sections 53A and 53B within the period specified in paragraph 18(1) of Part III of the Schedule to the Act; this filing is fee free (fee of 0).

The amendment does not change substantive filing obligations under sections 53A or 53B themselves, only the fees payable for these filings under the Limited Partnership Fees Regulations.

Key obligations

• Limited partnerships filing a change in beneficial ownership information under section 53B(8) must pay a fee of 50.
• Existing limited partnerships filing the information required under sections 53A and 53B with the Registrar within the period specified in paragraph 18(1) of Part III of the Schedule to the Act are not charged a fee for that filing.

Applies to

limited partnerships

Deadlines

• 2nd January, 2025: Commencement date of these Regulations.

Related documents

• This document is made under Financial Services Commission Act (Revised Edition 2020)