BVI Register of Beneficial Owners Filing Made Simple

A beneficial owner is an individual who holds 10% or more of the shares or voting rights in the company (directly or indirectly), or who otherwise exercises significant control over the company. This includes the right to appoint or remove a majority of directors, or any other arrangement that gives the individual significant influence over the company's management or affairs.

The Virtual Integrated Registry and Regulatory General Information Network (VIRRGIN) is the BVI Registry of Corporate Affairs' online filing platform. Since January 2025, all beneficial ownership information for BVI companies and limited partnerships is filed through VIRRGIN, replacing the previous BOSS system. Access to beneficial ownership data is restricted to competent authorities and, from April 2026, persons demonstrating legitimate interest.

Beneficial ownership information is not on a fully public register. It is held securely and can be accessed by competent authorities such as law enforcement and international regulatory bodies through proper legal channels. From April 2026, persons demonstrating a legitimate interest may also request limited access — restricted to the individual's name, birth month/year, nationality, and nature of interest for those holding 25% or more ownership.

The initial Register of Beneficial Owners must be filed within 30 days of the company's incorporation. We typically complete this as part of the incorporation process, collecting beneficial owner details alongside shareholder and director information to ensure timely compliance.

Yes, the initial beneficial ownership filing is included free of charge with all our BVI incorporation packages. We identify beneficial owners based on the ownership structure, collect the required documentation, and file through the VIRRGIN system as part of forming your company.

For each beneficial owner, the register must include their full name, date of birth, nationality, residential address, the date they became a beneficial owner, and the nature and extent of their interest or control. Certified copies of identification documents (passport and proof of address) are also required for verification.

If there is a change in beneficial ownership — for example, through a share transfer that crosses the 10% threshold, or a change in who controls the company — the Register of Beneficial Owners must be updated and filed through the VIRRGIN system within 30 days of the company becoming aware of the change.

For companies with multi-layered ownership structures (e.g., where shares are held by other corporate entities), we trace through the corporate chain to identify the ultimate beneficial owners — the individuals at the top of the ownership chain. Each intermediate entity in the chain is documented as part of the filing.

Non-compliance with beneficial ownership filing requirements can result in fines ranging from US$10,000 to US$75,000 per offence for both the company and its directors. Knowingly providing false or misleading information is a criminal offence. Additionally, non-compliance can affect the company's ability to obtain a Certificate of Good Standing, and persistent non-payment of penalties can result in entity dissolution.

In rare cases where no individual meets the 10% ownership or significant control threshold, the company must identify its senior managing officials (such as directors or CEO) as the relevant individuals to report. Every company must file beneficial ownership information — it cannot declare that it has no reportable persons.

Beneficial ownership change filings are priced at US$249 per filing. This includes beneficial ownership assessment, document preparation, VIRRGIN system filing, and confirmation. Complex corporate chain analyses involving multiple layers of ownership may incur additional fees.

Yes, once the filing is submitted through the VIRRGIN system, we provide you with a copy of the filed Register of Beneficial Owners, confirmation of the submission, and copies of all supporting documentation. Digital copies are shared immediately.

The Register of Members records all shareholders and their share holdings, while the Register of Beneficial Owners identifies the individuals who ultimately own or control those shares. A share transfer that changes the Register of Members may or may not change the Register of Beneficial Owners, depending on whether the 10% beneficial ownership threshold is crossed.