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).

The Cyprus Securities and Exchange Commission (CySEC) recently announced updates to the Cyprus Beneficial Ownership Register of Express Trusts and Similar Legal Arrangements (CyTBOR). These changes, aimed at enhancing compliance with the Directive on the Prevention and Suppression of Money Laundering and Terrorist Financing (Register of Beneficial Owners of Express Trusts and Similar Legal Arrangements) (Amending) of 2025.

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 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 7 March 2025, the British Virgin Islands Financial Services Commission published its detailed timeline for the rollout of key functionalities related to Beneficial Ownership filings, as well as the management of Registers of Directors, Registers of Members, Registers of Limited Partners, and Registers of General Partners. This phased approach aims to enhance compliance and operational efficiency for stakeholders.

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 13 January 2025, the BVI Financial Services Commission released detailed FAQs addressing the implementation of the Beneficial Ownership Regulations clarifying key compliance requirements effective 2 January 2025. It mandates identity verification for beneficial owners by licensees and registered agents, prohibits nil filings and sets a 30-day filing window for BVI Business Companies and Limited Partnerships.

The British Virgin Islands Government has initiated a public consultation on its proposed policy for access to the register of beneficial ownership. This consultation, launched on 17 January 2025, represents a significant step in aligning the Territory with international standards for transparency and combating illicit finance.

The BVI has implemented changes to its beneficial ownership framework as relevant to companies and limited partnership, with key changes effective from 2 January 2025. In this Q&A, we break down and summarise the new requirements relating to the changes, and what these mean for owners and operators of BVI entities and registered agents operating within the jurisdiction.

On 13 December 2024, the BVI Financial Services Commission notified the industry that the transfer of beneficial ownership information to the FSC’s Registry of Corporate Affairs would begin from 2 January 2025. Following this date the relevant registers of beneficial ownership for all registered BVI Business Companies and Limited Partnerships will be maintained via the FSC's flagship VIRRGIN platform.

On 20 November 2024, the Bermuda government announced that it is consulting to establish a unified register for beneficial ownership of legal entities, aligning with international transparency standards. Bermuda is advancing efforts to enhance transparency and combat financial crimes through a proposed Central Register of Beneficial Ownership.