The Government of the Virgin Islands has published a comprehensive new policy that governs how individuals and legal entities can gain access to the Register of Beneficial Ownership for BVI business companies and limited partnerships. This move signals a firm commitment to enhancing corporate transparency and combating financial crime, while also safeguarding privacy and personal data.
The new access regime will come into full effect on April 1, 2026, following a nine-month transitional period beginning July 1, 2025, during which system upgrades, user testing, and stakeholder guidance will be rolled out. The policy stems from the BVI’s alignment with evolving global standards in anti-money laundering (AML), counter-terrorist financing (CFT), and counter-proliferation financing (CPF).
Under the policy, access to beneficial ownership information—limited to those holding 25% or more ownership or control—can be granted to individuals or organizations that demonstrate a legitimate interest. These may include investigations of suspected financial crime, or customer due diligence under applicable AML/CFT/CPF legislation. Information made available includes the name, month and year of birth, nationality, and nature of ownership interest of the beneficial owner.
Applications must be submitted electronically via the VIRRGIN platform, and each request is subject to a processing period of up to 12 business days. The policy outlines clear protocols, including required documentation, a confidentiality declaration, and details on the legal entity and beneficial owner concerned.
A key feature is the notification and objection process. Once a valid request is received, the legal entity in question is notified and given five business days to raise any objections—such as risk of harm, the involvement of minors, or national security concerns. The Registrar will assess these on a case-by-case basis. Beneficial owners may also independently apply for exemptions from disclosure based on similar grounds, at any time.
In the interest of data protection, the use of obtained information is strictly limited to the purpose stated in the application. Misuse, unauthorized disclosure, or data breaches may result in fines, bans from future access, or legal proceedings. Additionally, any discrepancies identified by obliged entities in beneficial ownership data must be reported to the Registrar within 14 business days.
The policy reinforces the Virgin Islands’ dual objectives: enhancing its reputation as a responsible international financial centre while safeguarding constitutional rights to privacy and data protection under the Virgin Islands Constitution Order 2007 and the Data Protection Act, 2021.
This legal framework is underpinned by the BVI Business Companies and Limited Partnerships (Beneficial Ownership) Regulations, 2024, and will be updated as needed to ensure enforceability, accountability, and compliance with global expectations.
For more information, please contact office@rosemont-mc.com