Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, pursuant to the Answer of 13 March 2025 to Question 36916 on British Overseas Territories: Companies, what discussions he has had with the British Virgin Islands government on the reasons why it did not implement a register of beneficial ownership by the end of June 2025.

At the Joint Ministerial Council (JMC) in November 2024, the British Virgin Islands (BVI) committed to implement a register of beneficial ownership accessible to those with a legitimate interest offering the maximum possible degree of access and transparency, whilst containing the necessary safeguards to protect the right to privacy in line with its constitution, by June 2025.

Foreign, Commonwealth and Development Office officials have been in regular contact with the BVI to press for improvements to its register and to ensure that it meets its JMC commitment. The BVI published an updated policy on its register on 23 June. In my discussions with Premier Wheatley, I will continue to make clear the importance of further improvements in the BVI's proposal, as well as timely delivery of the register. My Written Ministerial Statement of 3 July provides further details of the next steps.

I have raised this issue on a number of occasions recently with the Premier both bilaterally and in the context of wider meetings with OT leaders. I look forward to meeting him again in person soon to raise this and other matters. Our expectations remain the same.