Previously announced amendments to the BVI's Anti-Money
Laundering (AML) regime came into force
on 1 January 2016.
The changes update the BVI's long standing AML regime to ensure
continued compliance with developing international standards on
transparency and AML.
The main change is to the treatment of introductions to BVI service
providers. In particular, from 1 January 2016, registered agents
are required to obtain and retain certain beneficial owner
information for new companies registered in the BVI even if
introduced by regulated services providers in recognised
jurisdictions. Transitional arrangements apply for existing
companies.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
