BVI Business Companies Act: Key Reporting Changes for 2025 - Acquarius
BVI’s new reporting rules affect company compliance. Acquarius ensures clients meet requirements for beneficial ownership and member registers. Over the last forty years, British Virgin Islands, or BVI, has become a benchmark for well-established yet cost effective company entities, legislation for which, as in Gibraltar, is based on English Common Law. The territory experienced massive growth in this sector following the introduction of the International Business Companies Act (1984) which gave rise to the eponymous International Business Company or IBC. At the start of the new century and in common with its global peers, BVI updated its legislation by introducing the BVI Business Companies Act (2004). This took account of growing demands by the OECD, EU and others for greater transparency and alignment with internationally accepted corporate governance conventions. The Business Companies (Amendment) Act (2024) adopted changes concerning both the Register of Member...