BVI Company Beneficial Owners Can Protect Their Data from Disclosure

Starting 1 April 2026, the British Virgin Islands (BVI) Registrar of Corporate Affairs will begin providing information regarding the beneficial owners of BVI companies upon request to any persons demonstrating a “legitimate interest.” However, beneficial owners are already entitled to apply to the Registrar for the protection of their data from disclosure, provided there are compelling reasons to do so.

Beneficial Ownership Regime in the BVI

The BVI Business Companies Act (Section 96A) requires companies to:

• Collect, maintain, and keep complete, accurate, and up-to-date information regarding their beneficial owners; and
• Submit this information to the Registrar within 30 days of the company’s incorporation, or within 30 days of any change in beneficial ownership.

The BVI Registrar is authorized to provide data from the Register of Beneficial Ownership to interested parties upon request. However, such access is not automatic or unconditional and involves a series of procedures and restrictions.

Disclosure of Beneficial Ownership Information in the BVI

Starting 1 April 2026, any individual or legal entity demonstrating a legitimate interest will be able to apply to the BVI Registrar of Corporate Affairs to obtain information from the Register of Beneficial Owners regarding a specific company or limited partnership. A fee of 75 USD will be required for each request.

Access to information may only be granted to a person who can demonstrate a legitimate interest in obtaining such information. This interest may be due to: 

• The detection, prevention, or investigation of activities related to money laundering, terrorist financing, or the proliferation of weapons of mass destruction (ML/FT/PF);
• The performance of customer due diligence (CDD) by an organization mandated to do so under applicable ML/FT/PF legislation;
• A connection between a legal entity and a person convicted of, or charged with, crimes involving ML/FT/PF.

The legitimate interest of the requesting party must be demonstrable and in good faith. It must relate to a specific company and be based on credible information. Requests that are speculative, overly broad, or lack a clear connection to the aforementioned objectives will be deemed to have been submitted without a legitimate interest.

These approaches are established in the Policy on Rights of Access to the Register of Beneficial Ownership, published by the BVI Ministry of Financial Services, Economic Development, and Digital Transformation.

Scope of Disclosure

Upon the request of an interested person, the Registrar may disclose the following information regarding an individual who is a beneficial owner of a BVI company:

• Full name;
• Month and year of birth;
• Nationality;
• The nature and extent of the beneficial interest (shareholding or control).

Information is disclosed only on those beneficial owners whose interest in the company (directly or indirectly) is equal to or exceeds 25% of the shares or voting rights, or who have an equivalent level of control over the company.

The BVI Commercial Companies Act sets a lower threshold (10%) for classifying an individual as a “beneficial owner.” However, for the purposes of disclosing information under the new regime, a special threshold of 25% applies.

Procedure for Obtaining Information

All requests for beneficial ownership information must be submitted electronically via the BVI Registrar of Companies’ VIRRGIN platform.

A request cannot be anonymous and must include the name and address of the applicant, as well as a detailed explanation of the purpose of the request. Furthermore, the requesting party undertakes to use the information obtained solely for the stated purpose.

The Registrar will review the request within 12 business days of receipt. If the request meets all requirements, the Registrar will notify the company in question via its registered agent. This notification will specify the purpose of the request and, if applicable, the name of the requesting entity.

Right to Object

A BVI company notified of a request is entitled to file an objection to the disclosure within 5 business days. The objection must include a clear explanation of why the information should not be released. Valid grounds include:

• Disproportionate risk of kidnapping, blackmail, extortion, or other forms of persecution of the beneficial owner;
• Information pertaining to a minor or a person lacking full legal capacity;
• Matters of national security (of any country) or conflicts with the public interest.

The objection must be accompanied by supporting documentation to substantiate these concerns. If the Registrar finds the objection compelling, they may refuse the request (subject to the requester’s right to appeal). If no objection is filed, or if the objection is dismissed, the Registrar will release the data to the requester.

Applying for Exemption

Beneficial owners may proactively protect their data from disclosure to third parties if valid grounds exist. To do so, they may submit an application for an exemption to the Registrar at any time.

The application can be submitted via the VIRRGIN platform by the company’s registered agent or a law firm acting on behalf of the individual seeking the exemption. A beneficial owner may request an exemption for multiple legal entities in a single filing. A fee of 50 USD is charged per legal entity included in the exemption request. Processing typically takes up to 12 business days.

How to Justify the Need for an Exemption?

An application for an exemption from disclosure must be substantiated by any of the following grounds:

• A disproportionately high risk of unlawful acts against the beneficial owner or their close relatives (such as political or religious persecution, discrimination, kidnapping, blackmail, or extortion);
• The minority status or limited legal capacity of the beneficial owner;
• A threat to the public interest or national security.

An exemption may also be granted for special reasons, which may include:

• Sensitive commercial interests: Where disclosure could result in the release of trade secrets or proprietary information of the company;
• Disproportionate publicity: Where disclosure would lead to excessive public exposure or risks that exceed standard transparency requirements;
• Pending litigation: Where disclosure could negatively affect current or deferred legal proceedings regarding ownership rights;
• Confidentiality obligations: Where disclosure would violate legal, contractual, or international non-disclosure obligations.

Any such circumstances must be adequately supported by relevant documentation and materials.

If the Registrar approves the application, information regarding the beneficial owner will not be disclosed to third-party requesters. However, such information will, in any case, be provided upon request to law enforcement and other competent BVI authorities in the exercise of their official powers.

Key Takeaways

The beneficial ownership disclosure regime for BVI offshore companies, which takes effect on 1 April, is the result of extensive deliberation. Ultimately, a compromise model was chosen, granting access to beneficial ownership information exclusively for AML/CFT/CPF purposes to persons who can demonstrate a legitimate interest.

Information will not be accessible to any random applicant at the simple click of a button. Every request must be processed by the Registrar under due process, which includes a mandatory notification to the company, which in turn retains the right to file an objection. Furthermore, beneficial owners may request an exemption for their data at any time (regardless of whether any request has been received) — for instance, when disclosure could pose security risks to the beneficial owner or their family.

However, evaluating the validity of a requester’s legitimate interest, along with any exemption applications from beneficial owners, is left to the discretion of the Registrar.

If you need to protect your information as a beneficial owner of a BVI company, we recommend the following:

• Prepare in advance the documents and materials that substantiate your concerns in the event of information disclosure;
• Contact your company’s registered agent to submit an application to the Registrar for an exemption from beneficial ownership disclosure to third-party requesters.