Beneficial ownership regime in the British Virgin Islands
March 2025
Beginning 2 January 2025, there are significant updates on the British Virgin Islands (BVI) Beneficial Ownership (BO) regime, aimed at enhancing transparency and compliance with international standards set by the Financial Action Task Force (FATF). The updates are contained in the BVI Business Companies and Limited Partnerships (Beneficial Ownership) Regulations, 2024 (BO Regulations), and the accompanying guidelines (BO Guidelines) issued under Regulation 38 of the BO Regulations by the BVI Registrar of Corporate Affairs.
The BO Regulations set out the framework for the collection and maintenance of BO information for legal persons in the BVI and are aligned with BVI anti-money laundering (AML) legislation and international standards. The BO Guidelines have been developed to assist individuals in understanding the requirements of the BO Regulations, and how the BVI Financial Services Commission (FSC) and the Registrar of Corporate Affairs intend to apply them.
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