Industry Updates

For every BVI Business Company that is incorporated or registered as of 1st January, 2016, the relevant person must collect and maintain beneficial ownership information prior to or at the time of incorporation or registration. For companies that were incorporated or registered prior to 1st January, 2016, there is a transition period of 12 months ending on 31st December, 2016 within which the relevant person must collect and maintain beneficial ownership information. Provision is made for granting extension to the established deadline.