The British Virgin Islands (BVI) government has announced its 2022 programme for new financial services Bills. They include the Virtual Assets Service Providers Act 2022, requiring registration and reporting by providers of virtual assets services; the BVI Business Companies (Amendment) Act 2022, addressing struck-off companies, abolition of bearer shares and record-keeping measures; and a repeal of the EU taxation of savings directive, now replaced with the Common Reporting Standard.
The government also proposes to increase the BVI International Tax Authority's powers to enforce the US Foreign Account Tax Compliance Act and ensure that the BVI can effectively and efficiently exchange information under various international obligations, including the Economic Substance (Companies and Limited Partnerships) Act 2018. Amendments will also be made to the anti-money laundering regulations and code of practice, ready for the Financial Action Task Force mutual evaluation later in 2022.
News Source：【BVI government 2022/01/18】