What information must be submitted on the shareholder of a captive?

If the shareholder is an individual, full details about the person, (including references, resumes, certified copy of passport photo/details page and other supporting due diligence information) must be provided to the BVI FSC. Full requirements are outlined in the Guidelines for the Approved Persons Regime.

If the shareholder is a company, evidence of incorporation, articles of association of the company, names and addresses of ultimate beneficial owners and other supporting information must be submitted to the BVI FSC. Full details may be found in the Guidelines for the Approved Persons Regime published by the BVI FSC.

If the shareholder is a trust, a copy of the trust deed must be submitted to the BVI FSC. The trust deed should provide details on the trustee, protector, beneficiary, etc. Explicit due diligence requirements that relate to trusts as shareholders may be found in the Approved Forms and Related Guidelines published by the BVI FSC.