BVI Limited Partnership Financial Return Order update

The BVI Financial Services Commission has introduced the Limited Partnership (Financial Return) Order, 2025, which came into force on 1 September 2025. This Order operationalises section 54A of the Limited Partnership Act and establishes the form and filing requirements for annual financial returns by BVI limited partnerships.

Who must file?

All BVI limited partnerships must now prepare and submit an annual financial return to their registered agent, unless they qualify for an exemption under section 54A(5) of the Act.

Exemptions

A limited partnership is exempt if it:

• Is regulated under BVI financial services legislation and  already provides financial statements to the FSC as part of that regulation; or
• Files an annual tax return with the BVI Inland Revenue Department that includes financial statements.

• Entities which are already in liquidation when their annual return is due, ie if the company completes its liquidation process with the BVI Registry of Corporate Affairs prior to the end of its financial year.

What needs to be filed?

The annual return:

• Must follow the format outlined in the Schedule to the Order.
• Summarises key financial information for the partnership’s financial year (not necessarily a calendar year).
• Can be prepared in any currency used in the partnership’s financial statements.

When is the first filing due?

Timing depends on the partnership’s financial year end:

• For partnerships using a calendar year, the first return becomes due on 1 January 2026, with a filing deadline of 30 September 2026.
• For those with a non-calendar financial year, due dates vary. Examples:

Financial year: 1 March – 28 February

• First return due: 1 March 2026
• Filing deadline: 30 November 2026

Financial year: 1 May – 30 April

• First return due: 1 May 2026
• Filing deadline: 31 January 2027

Why it matters

This reform strengthens transparency while keeping compliance practical and aligned with existing reporting cycles. Registered agents and clients should review financial year dates early to ensure timely filings under the new regime.

If you have any questions about your partnership’s filing obligations, please reach out to your usual Harneys Fiduciary representative.