Regulatory Blog

The Cyprus Department of the Registrar of Companies and Intellectual Property recently issued a set of key reminders for all companies, partnerships, and European Public Limited Companies that are subject to reporting obligations with respect to the Beneficial Ownership Register in Cyprus.

The BVI Financial Services Commission published the presentations from the 2025 Meet The Regulator Forum. The forum focused on Beneficial Ownership transparency, stakeholder consultations and policy updates.

On 9 July 2025, the Cyprus Securities and Exchange Commission issued Circular C721 to clarify the application of Section 62(2) of the Prevention and Suppression of Money Laundering Activities Law.

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.