BVI to set up public registers of beneficial owners by 2023

The British Virgin Islands (BVI) has formally announced plans to create a publicly accessible register of company ownership by 2023 in an effort to clamp down on corruption. The long-awaited announcement follows years of scandals relating to money-laundering and tax evasion involving BVI-based shell companies, most recently the FinCen Files. As reported by International Investment last month, the BVI premier announced its commitment to the implementation of public registers of beneficial ownership in the territory, albeit with "reservations". Andrew Fahie, the BVI premier and also ...