The BVI Business Companies (Amendment) Act 2024 and what it means

The BVI continues to demonstrate an unwavering commitment to align its business regime with evolving international standards.

2 June 2025 - The Amendment Act 2024, which came into effect on January 2, 2025, introduces several important changes to the current business and regulatory regime, which will require immediate attention and action from all entities registered and operating within the BVI, including companies involved in charitable activities.

In conjunction with this changing legislative framework, the BVI Financial Services Commission (BVI FSC) announced at the end of last year that it would also be launching its new beneficial ownership regime starting from January 2, 2025 to replace the previous system.

This is another move to align with international standards by placing the responsibility for managing beneficial ownership information into the hands of the BVI FSC’s Registry of Corporate Affairs

In this report we explore the impact of the new beneficial ownership regime and what it means for businesses operating in the BVI.