Key Developments in the BVI Beneficial Ownership Regime
The BVI Business Companies and Limited Partnerships (Beneficial Ownership) (Amendment) Regulations, 2025 (the “Amendment Regulations”) were gazetted and came into effect on 1 July 2025. The Amendment Regulations introduced important changes and additions to the BVI Business Companies and Limited Partnerships (Beneficial Ownership) Regulations, 2024 (the “BO Regulations”) including, amongst other changes: providing additional categories of entities that are exempt from the requirement to file beneficial ownership information with the BVI Registrar of Corporate Affairs (the “Registrar”); changing the threshold for determination of a “subsidiary” in the relevant exemption from “more than 75%” to “75% or more”; the introduction of provisions for the imposition, effect of and withdrawal of restrictions notices; the introduction of criteria for legitimate interest access to beneficial ownership information together with a process to apply to the Registrar for an exemption from the disclosure of beneficial ownership information; and the addition of further penalty provisions in Schedule 3 to the BO Regulations. Transitional provisions: The Amendment Regulations provide that for legal entities incorporated, registered or continued prior to 1 July, 2025, they must be in compliance with the Amendment Regulations within 6 months (by 1 January 2026). Entities that failed to make their filings by the due date will not be considered to be in good standing. However, there is a moratorium on filing fees and penalties until 31 March 2026. In addition, applications for inspection of, or a copy of an entry in, a beneficial ownership register (BO Register) will not be accepted before 1 April 2026. Persons may apply for an exemption from disclosure of beneficial ownership information from 2 January 2026.
The New Crypto-Asset Reporting Framework – Relevance for Cayman Investment Funds
The Tax Information Authority (International Tax Compliance) (Crypto-Asset Reporting Framework) Regulations, 2025 (CARF Regulations) came into effect on 1 January 2026 and provide for the collection, reporting and automatic exchange of information on transactions in crypto-assets. The CARF Regulations will operate in a similar fashion to the existing Cayman Common Reporting Standard (CRS) regime which facilitates the automatic exchange of financial account information. For information on recent changes to the CRS, please see our December advisory here.
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Recognition of Foreign Officeholders in the British Virgin Islands......
Cayman Islands Sanctions Update: Switching to the UK Sanctions List
The Cayman Islands Financial Reporting Authority (FRA) has issued a Public Notice confirming that, in line with previous announcements issued by the UK Government, the UK Sanctions List is now the only official list detailing all sanctions designations published by the UK Government. The UK Office of Financial Sanctions Implementation (OFSI) Consolidated List of Asset Freeze Targets and its search tool are now effectively closed and will no longer be maintained (but the OFSI Consolidated List will remain available for reference). No changes have been made to the structure of the UK Sanctions List (UKSL).
Navigating estate administration in Bermuda
When a loved one dies, families are often left to navigate not only grief but also a complex legal and administrative process known as estate administration.
Fund Finance Laws and Regulations 2026 – Jersey
The Appleby Jersey team provides comprehensive insight into legal trends and developments in the fund sector in 2026.
Fund Finance Laws and Regulations 2026 – Mauritius
The Mauritius fund industry demonstrated significant resilience and adaptability in 2025, successfully navigating a complex period of global tax reform and heightened regulatory standards. The year was defined by the integration of the 2025 Finance Act’s new tax framework (including the Qualified Domestic Minimum Top-Up Tax, or QDMTT) and a reinforced focus on economic substance, such as the two resident director rule for global business companies (GBCs). This pivot has further solidified the jurisdiction’s move from a tax-led financial centre to a substance-based one. Private equity and debt funds, particularly those focused on African and Asian markets, continue todominate the landscape, with Mauritius retaining its top-tier ranking as an investment gateway for Africa. The variable capital company (VCC) structure remains a popular choice for its flexibility, supplemented by a mature ecosystem of legal and administrative experts.
CIMA Launches Prudential Information Survey for SIBA Registered Persons
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First Major Update of Jersey Companies Law since 2014 Simplifies and Enhances the Jersey Company
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Bermuda: Chambers Insurance & Reinsurance Guide 2026
The guide provides the latest information on sources of insurance and reinsurance law, overseas-based insurers or reinsurers, making an insurance contract, intermediary involvement, alternative risk transfer (ART) transactions, warranties, conditions precedent, insurance disputes and insurtech.
Seychelles Virtual Asset Regulation: The Reality Check of 2025
The cryptocurrency industry's relationship with Seychelles changed fundamentally in 2025. What began as a relatively straightforward licensing regime has evolved into something far more demanding, and firms that haven't kept pace with this evolution are now facing difficult conversations with the Financial Services Authority (FSA)
Fund Finance Laws and Regulations 2026 – Guernsey
The Appleby Guernsey team provides comprehensive insight into legal trends and developments in the fund finance market.
