The new filing requirements for BVI business companies to file beneficial ownership information for registration through the Registered Agent has been introduced by the recent amendment of BVI Business Companies Act, 2024, effective from 2 January 2025.
It is the obligation of your BVI Company to collect and provide adequate, accurate, and up to date beneficial ownership information on the natural person who ultimately owns or controls the Company with 10% or more.
After filing through your Registered Agent, the BO Register shall be maintained by the Registrar but not in public. Only competent authorities and law enforcement agencies, when meeting a certain criteria, may inspect the BO Register and can access information relating to a natural person who owns or controls 25% or more of the shares, capital, profits or voting rights in a legal entity.
To help you well define beneficial owner for your BVI Company, and be equipped with necessary knowledge to understand and comply with this new filing requirement, we highly recommend you shall read through the official guidance by BVI government in relation to filing of BO information under BVI Business Companies and Limited Partnerships of Beneficial Ownership Regulation 2024, which we attached herewith.
The Guidance at moment provides English version only.
Guidance - Filing of Beneficial Ownership - Regulations 2024