The British Virgin Islands (BVI) has announced the extension of the deadlines for complying with the legal obligations for non-public filings.

The British Virgin Islands (BVI) authorities, through the Registrar of Corporate Affairs, have announced a six-month extension of the deadlines for compliance with the legal obligations of non-public filings applicable to existing companies and limited partnerships registered in the jurisdiction.

This extension covers the following records:

 1) For Companies:

- Register of members

- Information on director services provided

- Information on beneficial owners

 2) For Limited Partnerships:

- Register of general partners

- Register of limited partners

- Information on beneficial owners

 The original deadline of July 1, 2025, has been extended to January 1, 2026.

 This decision is supported by the following legal provisions:

 - Paragraph 60I(2), Part VIIB, Schedule 2 of the BVI Business Companies Act, in the case of companies;

- Paragraph 18(2), Part VIII of the Schedule to the Limited Partnership Act, in the case of limited partnerships.

The extension aims to allow the electronic VIRRGIN system, used for these filings, to become fully operational, including the new batch upload feature, which was only implemented in May 2025.

It is important to note that companies and partnerships incorporated or continued on or after January 2, 2025, are not covered by this extension and must comply with the standard 30-day deadline from the date of incorporation or continuation.

This extension presents a fantastic opportunity for entities to streamline the organization and submission of all necessary documentation. However, adhering to the new deadline is crucial to maintain a good standing with the local authorities.

 Here are the key points to note:

 - The first filing submitted by January 1, 2026, will be exempt from fees. Subsequent filings will incur charges.

- Failure to comply with these obligations may result in severe penalties, including fines of up to US$75,000 and potential removal of the entity from the official registry.

- To avoid system congestion near the deadline, it is strongly advised to submit filings well in advance.

- Companies must maintain organized and up-to-date records and retain evidence of official communication of the beneficial owners’ identities.