Feb 2023
Consolidated Acts
BVI Economic Substance (Companies and Limited Partnerships) Act, Beneficial Ownership Secure Search System Act and Related Rules and Regulations
The BVI Economic Substance and BOSSS Acts contains consolidated versions of the Economic Substance (Companies and Limited Partnerships) Act (Revised Edition 1 January 2020), as amended, the Beneficial Ownership Secure Search System Act (Revised Edition 1 January 2020), as amended, and related rules and regulations.
The most recent legislative update includes:
- amendments made by the Rules on Economic Substance in the Virgin Islands, update (v3), issued 24 February 2023
Other legislative updates include:
- amendments to the Beneficial Ownership Secure Search System Act (Revised Edition 1 January 2020), as amended, made by the Beneficial Ownership Secure Search System (Amendment) (No. 2) Act, 2021, in force 1 January 2022. This Amendment shall be applicable to those financial periods beginning on or after 1st January, 2022. This compendium was also updated to align with the Economic Substance (Companies and Limited Partnerships) Act (Revised Edition 1 January 2020, the Beneficial Ownership Secure Search System Act (Revised Edition 1 January 2020), and the Beneficial Ownership Secure Search System (Fees) Regulations (Revised Edition 1 January 2020
- the Beneficial Ownership Secure Search System (Amendment) Act, 2021, in force 15 July 2021
- the Economic Substance (Companies and Limited Partnerships) (Amendment) Act, 2021, in force 29 June 2021
This compendium is intended for informational purposes only. While every effort has been made to ensure the accuracy of the legislation and related material, and it is believed that the only errors are those contained in the official legislation itself (which errors have been faithfully reproduced), no responsibility is assumed for the content. Reference should be made to the official versions of the legislation for an authoritative statement of the law and any subsequent amendments. Nothing in this compendium is to be considered as creating an attorney-client relationship or indeed any contractual relationship or as rendering legal or professional advice for any specific matter. Readers are responsible for obtaining such advice from their own legal counsel. No client or reader should act or refrain from acting on the basis of any content within this document without first obtaining matter-specific legal and/or professional advice. Conyers accepts no responsibility for any loss or damage, howsoever incurred, which may result from accessing or reliance on this content.
Conyers British Virgin Islands
February 2023