BVI Update: New Rules on Access to Beneficial Ownership Information

Important Changes to the BVI Companies and Limited Partnerships (Beneficial Ownership) Regulations – Effective April 2026

On July 1, 2025, the British Virgin Islands enacted key amendments to the BVI Business Companies Act and Limited Partnership Regulations, 2024. These changes directly impact how beneficial ownership information is accessed and disclosed.

Here’s what you need to know:

New Rules on Access to Beneficial Ownership Registers

Under the amended regulations, the following parties will have access rights to beneficial ownership information:

• Competent authorities
• Law enforcement agencies
• Parties to the Exchange of Notes between the BVI and UK Governments
• Persons who can demonstrate a “legitimate interest”

What Qualifies as “Legitimate Interest”?

A person is deemed to have a legitimate interest in inspecting or requesting beneficial ownership information if they demonstrate to the Registry that:

• The purpose is to investigate, prevent, or detect money laundering, terrorist financing, or proliferation financing.
• The BVI entity in question is connected to a person convicted of, or subject to proceedings for, such offences.
• The applicant is an obliged entity conducting due diligence under anti-money laundering laws.

A “connected person” includes any individual who is a beneficial owner of the legal entity.

How to Submit a Request

To access beneficial ownership information, a request must be submitted in writing and include:

• Full identification of the applicant (ID/passport/license, contact details)
• Name of the BVI entity involved
• Name of the beneficial owner, if known
• A declaration that the information will only be used for the purpose stated

Legal Entity Notification & Objection Process

Once a qualifying request is received:

• The Registrar will notify the BVI legal entity involved.
• The entity will have 5 business days to file an objection.
• If no objection is filed and the Registrar is satisfied, the following details will be disclosed:
  •   Name
  •   Date of birth
  •   Nature and extent of ownership (for those holding 25% or more)

If an objection is denied, the entity may appeal to the Appeal Board.

Exemptions from Disclosure

Beneficial owners may apply to withhold disclosure of their information under the following circumstances:

• Disclosure may pose serious risks such as fraud, kidnapping, or violence.
• The owner is a minor or lacks legal capacity.
• Disclosure involves national security or is not in the public interest.
• Other exceptional circumstances, as determined by the Registry.

Expanded Exemptions from Filing Beneficial Owner Information

The amendments also extend exemptions from filing to include:

• BVI companies whose shares are held by foreign regulated trustees.
• Subsidiaries of regulated investment funds (including foreign ones).
• Subsidiaries of companies listed on recognized stock exchanges.
• Entities majority-owned (over 50%) by the BVI Government or a foreign government.

When Do These Changes Take Effect?

These amendments will become fully effective in April 2026. We encourage all BVI entities and their representatives to review their current status and seek guidance where needed. If you have questions or would like assistance with beneficial ownership filings or exemption applications, our BVI team is here to help.

Contact us at bd@icazalaw.com for assistance.