About the Regulatory Blog and our contributors
The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Anguilla, Bermuda, Cyprus, and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.
Resources
Welcome to our Regulatory Resources Hub, a centralised guide to the core laws and compliance frameworks shaping financial services in leading jurisdictions. Here, you’ll find concise summaries and direct access to key legislation from the British Virgin Islands, Bermuda and Cayman Islands. Whether you’re navigating licensing requirements, AML obligations, or governance standards, this section is designed to help you stay informed and compliant with ease.
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BVI CRS 2026: Updates on Participating and Reportable jurisdictions
On 29 January 2026, the British Virgin Islands International Tax Authority released updated lists for the Common Reporting Standard.
09 Feb 2026
BVI crypto funds & CRS 2.0: A summary
The global regulatory landscape for digital assets is constantly evolving. For entities operating within the crypto space, staying ahead of these changes is paramount. Recent amendments to the Common Reporting Standard by the OECD have significant implications for BVI crypto funds. Understanding these updates is crucial for ensuring compliance and making informed strategic decisions.
11 Dec 2025
Important update for BVI Registered Agents: Economic Substance filing transition
On 20 November 2025, the British Virgin Islands International Tax Authority announced that Economic Substance reporting obligations will transition from the Beneficial Ownership Secure Search System to the Virtual Integrated Registry Regulatory General Information Network portal. The ITA has confirmed that the new VIRRGIN ES filing portal is in its final stages of preparation and will be deployed for filings due in 2026.
28 Nov 2025
The Virgin Islands prepares for CRS 2.0 and CARF implementation
On 23 October 2025, the BVI International Tax Authority published a notice to advise that the Organisation for Economic Co-Operation and Development introduced significant updates to the Common Reporting Standards, now referred to as CRS 2.0, alongside the development of the Crypto-Asset Reporting Framework.
18 Nov 2025
BVI CRS compliance: An essential reminder
Reporting Financial Institutions and Non-Reporting Financial Institutions in the British Virgin Islands are required to comply with new Common Reporting Standard obligations by 30 September 2025.
23 Sep 2025
BVI publishes new guidance to strengthen risk management in third-party introductions
On 28 October 2024, the British Virgin Islands Financial Services Commission and Financial Investigation Agency jointly released new guidance to help financial institutions and designated non-financial businesses and professions manage risks associated with third-party introducers. This guidance is aimed at strengthening compliance with anti-money laundering regulations and related local legislation by offering a structured, risk-based approach.
19 Nov 2024
Amendments to the BVI Beneficial Ownership Secure Search System Act and economic substance reporting regime
The British Virgin Islands Beneficial Ownership Secure Search System Act has been amended by the Beneficial Ownership Secure Search System (Amendment) Act, 2024, which was published in the Gazette on 24 July 2024.
31 Jul 2024
Update to the BVI’s Mutual Legal Assistance (Tax Matters) Act 2003
The Minister, on the advice of the BVI International Tax Authority, made the Mutual Legal Assistance (Tax Matters) (Fees) Order 2024.
23 Apr 2024
Update to BVI Economic Substance Rules: Important update for entities claiming non-residence via UAE corporate income taxes
On 2 April 2024, the BVI International Tax Authority published version four of its economic substance rules and explanatory notes, following the introduction of a federal corporate income tax system in the United Arab Emirates in respect of financial years beginning on or after 1 June 2023.
10 Apr 2024
BVI ITA publishes its lists of CRS Participating Jurisdictions and Reportable Jurisdictions for 2024
On 5 February 2024, the BVI International Tax Authority published its updated Common Reporting Standards lists of Participating Jurisdictions and Reportable Jurisdictions for 2023. Both lists were gazetted on 8 February 2024.
04 Mar 2024
BVI locally resident companies may now apply for exclusion from tax and economic substance reporting
In October 2023, the BVI International Tax Authority reminded the public about a new provision introduced under the International Tax Authority (Amendment) Act, 2023, introduced earlier in 2023, which permits local companies (as defined) to be excluded from certain economic substance tax reporting requirements. In order to qualify, the local company must submit an application for exclusion to the ITA.
29 Jan 2024
BVI economic substance reporting changes and deadlines
Most companies and limited partnerships registered in the BVI have an economic substance “financial period” of 30 June to 29 June. Reports to the International Tax Authority are due within six months of the financial period end, typically falling around the end of the calendar year.
28 Sep 2023