Financial Services (Prudential and Statistical Returns) (Amendment) Order, 2025

Summary

This Order amends the BVI Financial Services (Prudential and Statistical Returns) Order, Revised Edition 2020, effective 1 October 2025. It updates cross-references to Schedules in section 10, replaces Schedule 3 with a new Trust and Corporate Services Provider Annual Return form, and corrects a reference title in Schedule 10.

• Section 10 cross-reference: Deletes references to Schedule 5 wherever they appear in section 10 and replaces them with Schedule 10.
• Schedule 3 replaced: Revokes the existing Schedule 3 and substitutes a new, detailed Trust and Corporate Services Provider Annual Return covering financial information, capital, professional indemnity insurance, fitness and propriety, governance, record keeping, internal audit, business activities, business continuity and a signed declaration.
• Who must file: The new Schedule 3 return applies to holders of Class I, II, III, IV and V Trust licences and Restricted Class II and Restricted Class III Trust licences under the Banks and Trust Companies Act, Revised Edition 2020, and to persons licensed under section 4(3) of the Company Management Act, Revised Edition 2020.
• Schedule 10 title correction: Amends Schedule 10 by changing the reference title from Section 9 to Section 10.

The substituted Schedule 3 return must be completed and filed with the FSC within one month after the end of each calendar year, and accompanying instructions specify filing on or before 31 January annually in respect of the preceding year, covering the reporting period 1 January to 31 December.

Key obligations

• Holders of Class I, II, III, IV and V Trust licences, Restricted Class II and Restricted Class III Trust licences, and section 4(3) Company Management Act licensees must complete and file the Trust and Corporate Services Provider Annual Return with the FSC within one month after the end of each calendar year (on or before 31 January annually) covering the preceding calendar year.
• Licensees must complete all sections of the return applicable to their licence type, covering financial information, capital, professional indemnity insurance, fitness and propriety, governance, record keeping, internal audit function, business activities and business continuity, and sign a declaration certifying accuracy.

Applies to

Class I Trust licensees, Class II Trust licensees, Class III licensees, Class IV Trust licensees, Class V licensees, Restricted Class II Trust licensees, Restricted Class III licensees, Company Management Act section 4(3) licensees, Trust and Corporate Services Providers

Deadlines

• 1 October 2025: Effective date of the Financial Services (Prudential and Statistical Returns) (Amendment) Order, 2025.
• within 1 month after the end of each calendar year: Deadline for filing the Trust and Corporate Services Provider Annual Return (Schedule 3) with the FSC.
• on or before 31 January, annually: Instructions accompanying the new Schedule 3 return specify this as the filing deadline for the preceding year's return.

Related documents

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