Chambers Banking and Regulation 2025: British Virgin Islands chapter

• The British Virgin Islands (BVI) has a comprehensive and robust banking system in line with international standards, having adopted the Basel Committee's guidelines for bank regulation and supervisory practices for the calculation of the capital adequacy ratio.

• The Virgin Islands Deposit Insurance Corporation provides protection for eligible deposits up to USD100,000 per depositor per member institution.

• BVI banks are subject to the mandatory reporting of suspicious transactions, the UK sanctions regime (as extended to the BVI) and the BVI anti-money laundering regime.

Our latest Chambers Practice Guide: Banking Regulation 2025 provides an in-depth overview of the legal and regulatory landscape in the BVI, covering requirements around licensing, change in control, corporate governance, anti-money laundering and more.

Read the full chapter on the Chambers and Partners website