The Global - Insights In Review

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.

Jeffrey Kirk, Shana Simmonds-Lewis, Maree Martin

Preparing for a Cayman Islands Monetary Authority (“CIMA”) inspection

This briefing intends to provide a useful reference document for inspected firms preparing for a CIMA inspection by providing practical and helpful tips on navigating the inspection process.

Simon Raftopoulos, Menelik Miller, Miriam Smyth

Guide to Funds in Guernsey

Our guide to Guernsey funds provides an overview of the Guernsey investment funds industry, exploring the types of Guernsey funds available such as registered, authorised and regulated, as well as their wider regulation. Appleby’s Guernsey funds guide also takes a closer look at the Guernsey Green Fund, the taxation of Guernsey investment funds and economic substance legislation.

Dylan Latimer, Kate Ovenden, Tristan Ozanne, Jeremy Berchem

Updates on Hong Kong’s Uncertificated Securities Market Regime from an offshore perspective

Hong Kong’s uncertificated securities market ("USM”) initiative is scheduled to take effect in 2026, subject to market readiness.

Judy Lee, Kelly Tang

Guide to Gambling Law in the Isle of Man 2026

Appleby's guide to gambling law in the Isle of Man provides an overview of gambling laws and regulations in the jurisdiction – including relevant authorities and legislation, the application process for licences across gaming, betting and online gambling, licence restrictions, enforcement and sanctions.

Claire Milne WS, Sophia Howell Evans

First Major Update of Jersey Companies Law since 2014 Simplifies and Enhances the Jersey Company

Our experts explain the first major update of Jersey Companies Law since 2014.

James Gaudin, Andrew Weaver, Simon Felton, Paul Worsnop, Christopher Reed

Maritime Due Diligence: Mauritius at crossroads

The year 2025 has witnessed a wave of revocations of Authorised Companies’ Licenses – more than 25 - by the Financial Services Commission (FSC) in Mauritius, pursuant to section 74(5) of the Financial Services Act.

Malcolm Moller, Nivedita Hosanee

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)

Malcolm Moller