Beneficial Ownership Rights in the BVI

A legal document outlining the obligations and responsibilities of BVI business companies and their beneficial owners.

A legal document governing the responsibilities of BVI limited partnerships and their beneficial owners.

A database containing information about the ultimate owners (beneficial owners) of BVI companies and limited partnerships.

Individuals or entities who ultimately own or control a BVI company or limited partnership.

The right to access or view information about the beneficial owners of BVI companies or limited partnerships.

A legal framework designed to prevent financial crimes such as money laundering and terrorist financing.

A digital system that securely stores and allows authorized access to beneficial ownership information.

The ability to access and view information about the beneficial ownership of BVI companies and limited partnerships, beyond law enforcement agencies and competent authorities.

A person seeking access to beneficial ownership information must demonstrate a specific, lawful, and proportionate need, directly related to their purpose. This could be investigating a crime, fulfilling regulatory duties, or conducting anti-money laundering (AML) checks.

Beneficial owners can apply for exemption from disclosing their information if they believe disclosure would expose them or others to significant risks, such as persecution, fraud, or violence.

The beneficial owner must provide evidence to support their claim of disproportionate or serious risk. This could include police reports, legal notices, or affidavits.

When applying for exemption, the beneficial owner must provide their full name and contact information, as well as the details of their legal representative, if applicable.

If the beneficial owner is a minor or legally incapacitated, proof of their age or incapacity must be submitted, such as a birth certificate or guardianship order.

The Registrar of Corporate Affairs reviews exemption applications to determine if disclosing beneficial ownership information is against the public interest.

A person who has a legitimate interest in accessing beneficial ownership information must be directly related to the purpose of accessing that information.

When determining legitimate interest for accessing beneficial ownership information, the principle of proportion is applied. This means only the necessary information can be requested.

This policy sets out the rules on how to access the Register of Beneficial Ownership, while balancing the need for transparency with protecting people's privacy, especially those at risk.

It means having a clear and legal reason to see information in the Register of Beneficial Ownership to fight financial crime.

These include investigating, preventing, or catching money laundering, terrorist financing, and other serious financial crimes. It also covers aiding legal investigations.

This refers to the official list of who ultimately owns and controls a company or partnership in the British Virgin Islands.

This is a period for individuals and organizations to provide their input on the proposed policy. This helps ensure the policy works well in practice.

This is the official date by which stakeholders should submit their comments on the proposed policy.

This is the email address where individuals and organizations can submit their feedback.

This refers to the section that provides additional questions to guide stakeholders in providing comprehensive and targeted feedback on the proposed policy.

The legal process for granting access to beneficial ownership information of companies in the British Virgin Islands (BVI). It is designed to strike a balance between transparency and protecting sensitive information.

The Registrar of Corporate Affairs in the BVI reviews applications for exemption from disclosing beneficial ownership information. This is done to prevent misuse of the information for money laundering or other illegal activities.

The details about the beneficial owner that are made available when access is granted under the legitimate interest framework.

The minimum shareholding or control required for a beneficial owner's information to be accessible under the legitimate interest framework.

The agency responsible for overseeing corporate matters and regulating business activity in the BVI.

The process for requesting access to beneficial ownership information under the legitimate interest framework, requiring specific details about the requester and their purpose.

The categories of individuals or organizations authorized to request access to beneficial ownership information under the legitimate interest framework.

A process where a person who has been denied access to beneficial ownership information can appeal the decision to the Financial Services Appeal Board.

A body that reviews decisions made about access to the Register of Beneficial Ownership in the BVI.

The official document that details the reasons for a decision related to access to beneficial ownership information.

A period of time allowed for companies and limited partnerships, already existing at the effective date of the policy, to submit their beneficial ownership information.

The goal of this policy is to find a good balance between allowing access to beneficial ownership information and protecting the privacy and security of individuals.

The documentation and evidence needed to demonstrate a disproportionate risk, which would allow a beneficial owner to apply for an exemption from disclosing their information.

The details about a beneficial owner that can be accessed through legitimate interest requests.

The process of notifying the beneficial owner when someone requests their information, and allowing them to object to the disclosure.

The process for challenging a decision to disclose beneficial ownership information, including grounds and appeals.

Measures taken to protect the confidentiality and security of personal information stored on the Beneficial Ownership Register.