A new dropdown feature now allows practitioners to select and file the occupation of each BO. If the practitioner’s data export does not match a listed occupation in the dropdown (or is not marked as "other"), the system will reject the filing. To address gaps, practitioners can suggest additional occupations to the FSC (via bo@bvifsc.vg).

Batch filing functionality for BO information is expected to launch by mid-May 2025. Additionally, percentage ownership filings will now follow a banded model, reducing administrative workloads for minor ownership changes while keeping the BVI competitive in corporate services.

For companies listed on recognised stock exchanges, practitioners must use tailored options during BO submissions. Ensure these selections are carefully reviewed to avoid filing issues.

Certified or stamped copies of publicly filed registers of members are now available directly through the VIRRGIN system under the “Request for Certifications” function. This feature is also part of company search reports, offering a straightforward way to access needed documentation.

Companies struck off or dissolved can only be restored if all key filings, including registers of members, directors and BO information, are submitted either before or within 14 days of restoration. Failing this requirement will lead to the company being struck off again, along with applicable penalties and fees.

Practitioners should note that companies granted a six-month grace period to comply with these requirements are subject to different restoration provisions. For clarity on definitions and deadlines, refer to paragraphs 60H–60L of the Transitional Provisions. For further clarification, practitioners can contact support@bvifsc.vg.

BVI FSC’s Circular 16 can be accessed here.