Recent amendments to the British Virgin Islands’ Beneficial Ownership regime introduce new procedures relating to access to beneficial ownership information and the protection of such information from disclosure. These measures apply to BVI entities and their beneficial owners.
Background
Under the BVI Beneficial Ownership framework, certain persons who can demonstrate a legitimate interest may apply to the Registrar of Corporate Affairs to inspect, or request a copy of, information recorded in the Register of Beneficial Owners (ROBO), as filed with the BVI Registry.
A legitimate interest generally arises where the purpose of the request is to investigate, prevent, or detect money laundering, terrorist financing, or proliferation financing, or where the legal entity the subject of the request is connected to a person who has been convicted of, or is being prosecuted for, such offences. Persons required to carry out customer due diligence obligations under BVI law are also considered to have a legitimate interest.
Access is limited to information relating to individuals who directly or indirectly hold a 25% ownership interest or exercise equivalent control over a BVI business company or limited partnership. Information that may be disclosed includes the beneficial owner’s full legal name, month and year of birth, nationality, and the nature of his interest or control over the legal entity. Requests are subject to a non‑refundable government fee of US$75.
PROCESS FOR APPLYING FOR A GENERAL EXEMPTION FROM DISCLOSURE
Who May Apply for Exemption
A beneficial owner may apply for an exemption from disclosure of their information. Applications may also be submitted by the beneficial owner through their legal representative or other authorized person.
Grounds for Exemption
To be granted, applicants must provide a clear explanation of the circumstances justifying the exemption. Significant reasons may include situations where disclosure:
- May expose the beneficial owner, or persons connected to the beneficial owner, to risk of harm or vulnerability
- May expose a beneficial owner who is a minor or otherwise lacks legal capacity
Supporting evidence must be submitted with the application to substantiate the claimed circumstances.
Supporting Evidence
Documentation used to support an application will depend on the circumstances and may include:
- Proof of age for minors (birth certificate or passport)
- Official correspondence or documentation from government authorities where national security concerns are involved
- Affidavits evidencing reasonable belief and identifying individuals at risk
Registrar Review Process
The Registrar of Corporate Affairs (the “Registrar”) will review each application and may request further information or documentation. Exemptions may be granted subject to conditions, or for a specified duration. In the event that the circumstances supporting the exemption change, beneficial owners must notify the Registrar.
PROCESS FOR OBJECTING TO A REQUEST FOR DISCLOSURE
Objection to Inspection of the Register
From 1 April 2026, The Register of Beneficial Ownership will be open to inspection by any person who can demonstrate a legitimate interest in accordance with the BO Amendment Regulations. Where the Registrar is satisfied that there is no good reason to refuse a request for access, the Registrar will notify the legal entity through its Registered Agent. If we receive a notice on your behalf, we will inform you immediately to maximize the time available for the beneficial owner to respond.
The legal entity may file a notice of objection but must do so within five (5) days of receipt of notice from the Registrar. The objection must clearly explain why the Registrar should not grant access.
The Registrar’s notice will disclose the purpose for which the information will be used. In a case where the requesting person is a legal person, the notice will also indicate the name of the legal entity requesting the BO Information.
A legal entity that files a notice of objection on time has a further five (5) days to make an application opposing the disclosure. Acceptable grounds include:
- The request not being made for a proper purpose
- The request containing misleading or inaccurate information
- The disclosure is likely to cause risk of harm to the beneficial owner
- The beneficial owner is a minor or otherwise lacks legal capacity
Supporting evidence must be submitted with the application to substantiate the claimed circumstances. In the event that the Registrar rejects an application opposing disclosure of BO Information, the applicant has a right to appeal.
EXEMPTION OR OBJECTION?
Applications for exemptions can be filed at any time following incorporation and, if successful, can apply to multiple entities owned by the same beneficial owner. On the other hand, a notice of objection is time sensitive and relates to a specific entity only. Restrictions on access do not apply to competent and law enforcement authorities. Given the critical nature of both applications, it is important to obtain advice from a professional legal party.
Next steps and how we can help
From 1 April 2026, the BVI Registry will begin accepting applications from persons who can demonstrate legitimate interest to access beneficial ownership information. Where a request is made in relation to your entity, the Registrar will notify us as your Registered Agent. In such cases, we will inform you immediately of the request and advise you on any action required.
Our BVI office is one of the oldest and largest trust companies in the BVI and has incorporated and acts as registered agent for a significant proportion of the overall number of active companies on the BVI Register. For more information, please contact your usual Trident Trust representative or our office at bvi@tridenttrust.com.