The British Virgin Islands (BVI) Business Companies and Limited Partnerships (Beneficial Ownership) (Amendment) Regulations 2025 was enacted in July 2025 and is already in force, significantly expanding the exemptions to the general duty of BVI companies to report their beneficial ownership.

The extension and clarification of the exemptions have been expected for some time and will be very welcome, according to law firm Harneys. The exemption for investment funds and entities held by trusts with foreign regulated trustees is especially welcome, it says.