BVI beneficial ownership legislation
13 December 2019
The Beneficial Ownership Secure Search System Act, 2017 (the Act) of the British Virgin Islands requires registered agents (each, an RA) in the BVI to create a database of beneficial ownership information relating to in-scope entities for which they act as RA. The RA databases are private but may be searched upon request from certain authorities via the beneficial ownership secure search (BOSS) system.
The Act came into force on 30 June 2017 and has been subsequently amended. The most recent amendments came into effect on 31 October 2019, to reflect the Rules on Economic Substance in the Virgin Islands issued by the BVI International Tax Authority.