Due Diligence Requirements for Financial Transactions in the British Virgin Islands

The British Virgin Islands (BVI) has implemented strict regulations to combat money laundering and ensure transparency in financial transactions. As a result, all individuals and businesses involved in financial activities must comply with these regulations.

Required Documents

To facilitate financial transactions in the BVI, the following documents must be submitted:

• Proof of Identity: A certified copy of a valid passport, driver’s license, or national ID card.
• Proof of Address: A utility bill, bank statement, or professional reference that confirms the individual’s residential address.
• Professional Reference: A letter from a professional association or organization confirming the individual’s good standing and financial reliability.
• Source of Funds: Documentation explaining how the funds were earned or obtained.

Certification Requirements

All documents must be certified by a qualified individual, such as a lawyer, accountant, or bank official. The certification must include:

• A statement verifying the authenticity of the document
• The signature and position/capacity of the certifying individual
• Contact information for the certifying individual

Submission Requirements

Original copies of all documents must be submitted to Fidesta Ltd., a licensed service provider in the BVI. Scanned copies may be sent electronically, but they must be followed by the original copies.

Consequences of Non-Compliance

Failure to comply with these regulations may result in delays or rejection of financial transactions. In addition, non-compliant individuals and businesses may face penalties and fines under the BVI’s anti-money laundering laws.

Contact Information

For more information on due diligence requirements for financial transactions in the British Virgin Islands, please contact:

• Fidesta Ltd.
  • Address: Charles Court, 1st Floor, 189 Main Street, P.O. Box 4406, Tortola VG1110, British Virgin Islands
  • Phone: [insert phone number]
  • Email: [insert email address]

Note: This article is for informational purposes only and should not be considered as legal advice.