Regulatory Blog

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, counter-terrorism financing, and counter-proliferation financing, while safeguarding individual privacy.

On 30 May 2025, the BVI FSC issued an update under Industry Circular 22 of 2025, extending the filing deadline for certain statutory requirements under the BVI Business Companies Act (Revised Edition 2020). In addition, on 4 June 2025, the BVI FSC issued Industry Circular 23 of 2025, extending the filing deadline for certain statutory requirements under the BVI Limited Partnership Act (Revised Edition 2020).

On 15 April 2025, the BVI Financial Services Commission issued Circular 15, an important update regarding the court-ordered restoration process. This circular outlines temporary measures and key procedural changes designed to streamline filings while the permanent system is finalised.

On 24 April 2025, the BVI Financial Services Commission issued Circular 16 updating the industry practitioners regarding Beneficial Ownership filings, Registers of Members, and restoring struck off or dissolved companies.

On 1 April 2025, the British Virgin Islands Financial Services Commission published its Q1 2025 newsletter, outlining several pivotal updates aimed at bolstering oversight and compliance in the financial services industry.

The Virgin Islands has recently published and enacted significant legislative changes aimed at streamlining and updating its financial services framework.

On 17 April 2025, the Government of the Virgin Islands issued a comprehensive report, the National Money Laundering, Terrorist Financing, and Proliferation Financing Risk Assessment of Legal Persons and Legal Arrangements. This publication is a critical tool aimed at strengthening the Territory’s defences against financial crimes.

On 7 March 2025, the British Virgin Islands Financial Services Commission issued an update through Industry Circular 12 of 2025 regarding the implementation of beneficial ownership filing requirements. This blog post outlines the key changes under the BVI Business Companies and Limited Partnerships (Beneficial Ownership) Regulations, 2024 and provides guidance on the phased implementation.

On 21 February 2025, the BVI Financial Services Commission released a series of three educational videos designed to develop understanding and bolster compliance regarding Proliferation Financing. These videos serve as a valuable resource for licensed entities seeking to enhance their risk management strategies.

On 21 February 2025, the BVI Financial Services Commission released its revised Handbook on International Co-operation and Information Exchange. This updated guide reflects the BVI’s commitment to international collaboration in tackling critical global issues, including money laundering, terrorism financing, and the proliferation of weapons of mass destruction.

On 31 January 2025, the BVI Financial Services Commission published a news release summarising key takeaways from its two key international regulatory forums: the Meet the Regulator Forum in Hong Kong and the BVI Financial Services Round Table in London.

On 24 January 2025, the BVI Financial Services Commission and the Financial Investigation Agency issued new guidance to enhance how financial institutions and designated non-financial businesses and professions monitor their customers.