BVI Beneficial Owners: Disclosure protection now available

Entities incorporated in the British Virgin Islands can now apply to have their beneficial ownership information exempted from disclosure under the territory’s legitimate interest access framework.

Implementation of the legitimate interest access regime

The new access regime will come into force on 1 April 2026. From that date, individuals or organisations that can demonstrate a qualifying legitimate interest may submit a request to the Registrar of Corporate Affairs to inspect or obtain limited information from the beneficial ownership register.

Applicants must establish that their request is connected to the investigation, prevention or detection of money laundering, terrorist financing or proliferation financing. Requests may also be considered where they relate to a legal entity linked to an individual who has been convicted of, or is currently facing proceedings for, such offences.

A non-refundable fee of US$75 applies for each access request submitted to the Registrar.

Scope of information that may be disclosed

Where access is granted, the information available is limited and applies only to individuals who ultimately own or control 25% or more of a BVI business company or limited partnership.

The information that may be disclosed includes:

• the beneficial owner’s full legal name
• nationality
• month and year of birth
• the nature and extent of the individual’s beneficial ownership or control in the relevant entity

This information is maintained within the Registrar’s beneficial ownership register.

Exemption applications now available

Ahead of the regime becoming operational, the Registrar has introduced a process allowing beneficial owners to request that their information be excluded from disclosure.

Applications must be submitted through the VIRRGIN online platform by the entity’s registered agent or by legal advisers acting on behalf of the individual. Each beneficial owner must apply in respect of their own interest, although a single application may cover multiple legal entities in which the individual is a beneficial owner.

Where an entity has multiple beneficial owners, a separate application will need to be filed for each beneficial owner. In addition, where a beneficial owner is associated with multiple entities, one application will cover all their entities. It is important to note that careful correspondence with Registrar will be required to ensure that all entities are covered by the application, particularly where the beneficial owner’s entities fall across multiple registered agents.

A US$50 fee applies per legal entity for which an exemption is requested. The Registrar has indicated that applications are expected to be processed within approximately 12 business days.

Grounds for seeking an exemption

Applicants must identify the basis on which protection is sought. One commonly anticipated ground is where disclosure could reasonably expose the beneficial owner, or members of their immediate family, to significant personal risk, including risks such as fraud, extortion, harassment, intimidation or violence.

Exemptions may also be considered where the beneficial ownership information relates to a minor or to an individual who lacks legal capacity.

Special circumstances that may justify protection

The framework also allows the Registrar to consider exemption requests in certain special circumstances, including:

• where disclosure could compromise sensitive commercial information or proprietary business interests
• where disclosure could result in disproportionate public exposure beyond what is necessary for transparency purposes
• where disclosure could prejudice ongoing or pending legal proceedings relating to ownership
• where disclosure would conflict with legal or contractual confidentiality obligations

In limited cases, exemptions may also be granted where national security considerations or broader public interest factors apply.

Preparing for the upcoming changes

With the implementation date approaching, beneficial owners may wish to review their structures and consider whether submitting an exemption request may be appropriate in their circumstances.

Please note that in addition to the registry disbursements, we will also charge a fee to submit an application.

If you require assistance with an exemption application, please contact your usual representative.