On July 1, 2025, the British Virgin Islands (BVI) enacted amendments to its business and partnership laws, which will change how beneficial ownership information is accessed and disclosed. These changes are set to become fully effective in April 2026.

Here is a summary of the key changes:

Access to Information

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

• Competent authorities and law enforcement agencies.
• Parties involved in the Exchange of Notes between the BVI and UK Governments.
• Anyone who can demonstrate a « legitimate interest ».

« Legitimate interest »

A person is considered to have a legitimate interest if their purpose is to investigate, prevent, or detect money laundering, terrorist financing, or proliferation financing. This also applies if the BVI entity is connected to someone convicted of, or facing proceedings for, these types of offenses.

The Request and Objection Process

To access this information, a request must be submitted in writing and include the following details about the applicant:

• Full identification
• The name of the BVI entity
• The name of the beneficial owner
• Declaration that the information will be used only for the stated purpose

Upon receiving a qualifying request, the Registrar will notify the BVI legal entity involved, which then has 5 business days to file an objection. If no objection is filed, or if an objection is denied, the Registrar can disclose the beneficial owner’s name, date of birth, and the nature of their ownership (if they hold 25% or more).

Exemptions

Beneficial owners can apply to withhold their information from disclosure under specific circumstances. This includes if disclosure could pose serious risks such as fraud, kidnapping, or violence, or if the owner is a minor or lacks legal capacity. Exemptions can also be granted if disclosure involves national security, is not in the public interest, or for other exceptional circumstances determined by the Registry.

Additionally, the amendments expand exemptions from filing beneficial owner information to include certain entities. These are:

• BVI companies whose shares are held by foreign regulated trustees.
• Subsidiaries of regulated investment funds.
• Subsidiaries of companies listed on recognized stock exchanges.

Should you have any questions, please do not hesitate to contact us.