Beautiful Virgin Islands

Tuesday, Jul 15, 2025

New registration requirements for all designated non-financial businesses and professions

New registration requirements for all designated non-financial businesses and professions

The Financial Investigation Agency (“Agency”) is responsible for the supervision and monitoring of all Designated Non-Financial Businesses and Professions (“DNFBPs”) within the Territory of the Virgin Islands (“the Territory”).

As of 13 August, 2021, the Agency was also given responsibility for the registration of all DNFBPs within the Territory.

On 24 February 2022, the Agency issued two Public Notices in the Virgin Islands Official Gazette for the attention of DNFBPs as follows: Public Notice

These Public Notices apply to all businesses and professions classified as DNFBPs within the Territory of the Virgin Islands, namely:

1. Legal practitioners, notaries public or accountants undertaking relevant business, that is, the provision of services to clients, which involve transactions concerning any of the following activities –

1.1. Buying and selling of real estate;

1.2. Managing of client money, securities, or other assets;

1.3. Management of bank, savings or securities accounts;

1.4. Organisation of contributions for the creation, operation or management of companies; and

1.5. Creation, operation or management of legal persons or arrangements, or buying and selling of business entities.

2. Real estate agents undertaking relevant business, that is, the business of acting as a real estate agent when engaged in a transaction for a client concerning the buying and selling of real estate.

3. Persons engaged in the business of dealing in precious metals or precious stones when such transactions involve accepting a cash payment* of $15,000 or more or the equivalent in any other currency.

4. Persons engaged in the business of buying and selling boats, vehicles, jewellery or other high valued goods such as furniture, machinery and art (relating to paintings and sculptures that are of intrinsic value), when such transactions involve accepting a cash payment* of $15,000 or more or the equivalent in any other currency. *Please note cash transactions involve transactions undertaken via wire transfer, cheques and any other type of monetary instrument.

Action Required


All businesses and professions classified as DNFBPs are required to complete the registration documents and submit to the Agency for processing on or before 31 May 2022.

All applicable registration documents are available to download from the Agency’s website.

Registration Seminars


The Agency will be holding seminars to explain the new registration requirements as well as the Fit and Proper test criteria for DNFBPs on the following dates:


In order to ensure social distancing and Covid safety protocols are followed, places will be limited to two (2) persons per business, and priority will be given to DNFBP businesses. If you would like to attend one (1) of the seminars, please send an email to the complianceunit@fiabvi.vg providing the name, job title, contact number and email address of the persons attending the seminars. Further details of the seminars will then be sent to those persons directly.

Further information


All information on the new registration requirements as well as the Fit and Proper test are provided on the Agency’s website, under the “Supervised Entities” tab (https://www.fiabvi.vg/). If you have any additional queries, or would like to discuss your business’s registration, please contact the Agency’s Supervision and Enforcement Unit (“SEU”) at telephone number 284-852-3200 or via email at complianceunit@fiabvi.vg. The SEU will be happy to assist you.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
President Trump Visits Flood-Ravaged Texas, Praises Community Strength and First Responders
From Mystery to Meltdown, Crisis Within the Trump Administration: Epstein Files Ignite A Deepening Rift at the Highest Levels of Government Reveals Chaos, Leaks, and Growing MAGA Backlash
Trump Slams Putin Over War Death Toll, Teases Major Russia Announcement
Reparations argument crushed
Rainmaker CEO Says Cloud Seeding Paused Before Deadly Texas Floods
A 92-year-old woman, who felt she doesn't belong in a nursing home, escaped the death-camp by climbing a gate nearly 8 ft tall
French Journalist Acquitted in Controversial Case Involving Brigitte Macron
Elon Musk’s xAI Targets $200 Billion Valuation in New Fundraising Round
Kraft Heinz Considers Splitting Off Grocery Division Amid Strategic Review
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
EU Proposes New Tax on Large Companies to Boost Budget
Trump Imposes 35% Tariffs on Canadian Imports Amid Trade Tensions
Junior Doctors in the UK Prepare for Five-Day Strike Over Pay Disputes
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
Bitcoin Reaches New Milestone of $116,000
Biden’s Doctor Pleads the Fifth to Avoid Self-Incrimination on President’s Medical Fitness
Grok Chatbot Faces International Backlash for Antisemitic Content
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
×