The BO register itself remains non-public, and access will be granted only where the requirements of the legitimate interest test set out in the BO Regulations are met.
The Government emphasises that the implementation of the BO regime reflects the BVI’s continued alignment with evolving global standards, including those established by the Financial Action Task Force. The launch of the LIA further demonstrates a commitment to enhancing access to BO information, whilst maintaining the appropriate safeguards to individual privacy and data protection, as well as preserving the jurisdiction’s longstanding reputation as a trusted and responsible financial centre.
The full press release is available on the BVI Government website. Please also see our recent client updates on BVI Beneficial Ownership Information Applications for Exemption from Legitimate Interest Access Now Available and BVI Companies & Limited Partnerships: Key Beneficial Ownership and Statutory Register Filing Deadlines for further information.
The Maples Group has extensive experience advising on BVI’s beneficial ownership regime. Please reach out to your usual Maples’ contact if we can be of assistance.
