BVI launches new beneficial ownership access policy
03 Jul 2025
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On 23 June 2025, the Government of the Virgin Islands introduced a policy governing access to the Register of Beneficial Ownership for BVI Business Companies and Limited Partnerships. This initiative aligns with international standards for corporate transparency, anti-money laundering (AML), counter-terrorism financing (CFT), and counter-proliferation financing (CPF), while safeguarding individual privacy.
Key provisions:
- Legitimate interest access: Access is granted to individuals or entities demonstrating a legitimate interest, such as investigating money laundering or fulfilling AML/CFT/CPF obligations. Information disclosed includes the beneficial owner’s name, nationality, month/year of birth, and ownership/control details with 25 per cent or more interest.
- Access procedure: Requests must be submitted via the VIRRGIN platform, with clear purpose and confidentiality declarations. Companies are notified of requests and may object within five business days.
- Exemptions: Beneficial owners may apply for exemptions in cases of serious risk, national security concerns, or if they are minors or lack legal capacity.
- Fees and penalties: Access requests cost US$75, and exemption applications cost US$50. Misuse of information may result in fines, bans, or legal action.
The policy will undergo a nine-month transitional period starting 1 July 2025, becoming fully operational on 1 April 2026.
We are expecting legislation implementing the policy to be published soon.
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