8legs: Joint ministerial council

#1 out of 1

UK accused of caving-in to British Virgin Islands over access to company register

UK accused of caving to pressure from the British Virgin Islands by limiting public access to the company ownership register.
The talks in London will involve Foreign Office ministers and leaders of overseas territories amid calls for open transparency rules.
Parliamentary MPs’ anti-corruption group calls the talks a last chance to address offshore transparency before a major summit.
The BVI says its registrar can deny access if it’s in the territory’s public interest, narrowing who qualifies as a legitimate user.
Transparency groups warn that restricted data could hide beneficial ownership and hinder enforcement.
The BVI hosts a high number of companies per citizen, raising concerns about ownership transparency.
The Financial Action Task Force grey-listed the BVI in June 2025 for their lack of transparency.
Overseas territories pledged to implement open registers by June 2025, with mixed progress.
The upcoming Global Illicit Finance Summit is a focal point for UK anti-corruption efforts.
MPs urge ministers to apply consistent transparency standards across BOTs in talks this week.

Vote 0