Regulatory Alerts2025-07-01
BVI Business Companies and Limited Partnerships (Beneficial Ownership) (Amendment) Regulations, 2025
The Cabinet of the Virgin Islands issued these Regulations to amend the principal beneficial ownership rules by expanding exemption categories for subsidiaries and introducing new restriction mechanisms for unidentified beneficial owners. The amendments establish a framework allowing the Registrar to serve restriction notices that void transfers and suspend rights when beneficial ownership information is not provided, while granting legal entities the right to apply to the High Court to set aside such restrictions or order the sale of interests. Additionally, the Regulations create a new division governing access to the beneficial ownership register, restricting inspection rights to persons who can demonstrate a legitimate interest in investigating or preventing money laundering, terrorist financing, or proliferation financing.