> For the complete documentation index, see [llms.txt](https://support.lisk.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://support.lisk.com/guides/getting-started/kyb-by-entity-type-and-jurisdiction/business-verification-preparation-guide-for-british-virgin-islands-entities.md). # Business Verification Preparation Guide for British Virgin Islands Entities A practical pre-flight guide for British Virgin Islands Business Companies onboarding to Lisk {% hint style="warning" %} **Important**: This guide covers a typical British Virgin Islands Business Company limited by shares and supplements Lisk's general business verification guide. Other structures need different evidence. Reviews are risk-based, so Bridge may request additional or replacement documents. {% endhint %} {% hint style="info" %} **Service-provider and data-handling notice**: Lisk provides the Platform interface and customer support. Bridge is the current regulated service provider. Bridge performs business and identity verification under its own compliance program, directly or through an identity verification provider it engages. Bridge makes the verification decision and may request additional evidence. Lisk collects information and documents submitted through the Platform, or sent in response to a request for information, for transmission to Bridge and may apply its own platform risk checks, but Lisk Support does not approve evidence on Bridge's behalf. Submit sensitive evidence only through the secure submission flow provided for your case in the Platform, by Bridge, or by the identity verification provider engaged by Bridge, or through the channel named in a request for information. If the route is missing or unclear, ask Lisk Support for instructions before sending documents. See [Bridge's business onboarding requirements](https://apidocs.bridge.xyz/platform/customers/compliance/businesses/overview) and [Lisk's Terms of Service](https://lisk.com/legal/terms/), [Privacy Policy](https://lisk.com/legal/privacy/), and [Partner Terms](https://lisk.com/legal/partner-terms/). {% endhint %} [Complete Business Verification](/guides/getting-started/complete-business-verification-kyb.md): the full Lisk verification walkthrough. [Business Verification by Entity Type and Jurisdiction](/guides/getting-started/kyb-by-entity-type-and-jurisdiction.md): broader entity and jurisdiction guidance. ## **What is different for British Virgin Islands companies?** * Every British Virgin Islands company has a physical registered office and licensed registered agent in the British Virgin Islands. The agent's office may be the correct registered address, but it does not prove where the business operates. * Contact the registered agent early for current copies of the Register of Members and Register of Directors; request certification if available or required. * [Under British Virgin Islands rules](https://www.bvifsc.vg/sites/default/files/revised_bo_guidelines_final_version_for_publication_02.01.26_0.pdf), a beneficial owner includes a natural person who directly or indirectly owns or controls 10% or more, can appoint or remove a majority of the board, or otherwise controls management. If none is identified after reasonable efforts, a senior managing official is recorded. [For the Lisk/Bridge flow](https://apidocs.bridge.xyz/platform/customers/compliance/businesses/ownership), verify every ultimate beneficial owner holding 25% or more, submit the complete ownership structure, and follow the people requested in the form. * Layered ownership must be traceable through every intermediary entity to the natural persons behind the structure; a Register of Members showing a corporate shareholder is not enough on its own. * [Bridge currently classifies the British Virgin Islands as high risk](https://apidocs.bridge.xyz/platform/customers/compliance/supported-countries-list), so additional due diligence applies. Bridge may request more address, business-activity, source of funds, or regulatory evidence. ## **Prepare before you start** ### **Company and business** * Legal entity name, trade names, British Virgin Islands Company Number shown on the [Certificate of Incorporation](https://apidocs.bridge.xyz/platform/customers/compliance/businesses/formation), incorporation date, registered office and agent, and principal operating address. * Certificate of Incorporation and the latest Memorandum and Articles of Association. * A clear business description, website or product information, intended account use, expected volumes, annual revenue, and source of funds. * [Current Register of Members and Register of Directors](https://www.bvifsc.vg/products-services/corporate-structures), certified by the registered agent if available or requested. ### **People and ownership** * Personal information and government identity document for every individual the onboarding form asks you to verify, including every ultimate beneficial owner holding 25% or more. * Identify at least one Control Person, such as a director or executive with significant responsibility. The signer must be authorized to act for the company. One person may fill both roles, but a Control Person is not automatically an ultimate beneficial owner. * For corporate shareholders or layered structures: a signed and dated ownership chart showing every intermediary entity, ownership percentage, and the natural persons behind the chain. * Current ownership evidence for each intermediary entity. The complete pack should account for 100% of the ownership chain. If a shareholders' agreement is requested but none exists, use [Declaration of No Shareholders’ Agreement - Guide and Template](https://docs.google.com/document/d/16QTPOmVq2XZtBIOATBF49l3mBbyVNnKmwS9adgWOaTA/edit). ### **Conditional evidence to keep ready** * [Operating-address evidence](https://apidocs.bridge.xyz/platform/customers/compliance/poa), if the principal operating address requires verification. * Proof of nature of business when the website or public information is limited. A cover sheet must be accompanied by records such as contracts, invoices, receipts, product material, or partner agreements. Use [Proof of Nature of Business - Evidence Guide and Cover Sheet](https://docs.google.com/document/d/1CK5i-fW4aklsGvfGyIIYYvxxtYgavgQSujayzPkSi2g/edit) to organize the submission. * If requested: a Certificate of Good Standing, Certificate of Incumbency from the registered agent, an issued share certificate, or relevant nominee and trust records. These support, but do not replace, the Register of Members or Register of Directors. * For regulated activity, prepare any current license or virtual asset service provider registration issued by the British Virgin Islands Financial Services Commission, anti-money laundering materials, and a description of how funds move through the business. For virtual-asset activity, explain whether the company exchanges, transfers, safeguards, administers, issues, or provides financial services involving virtual assets for customers or any other third party. This is what “provided for another person” means. Activity conducted only for the company's own treasury is different from a service performed on behalf of someone else. This distinction describes the activity; it does not establish a legal exemption or guarantee eligibility. Bridge will assess whether the intended use is eligible under its own onboarding criteria. See the [British Virgin Islands Financial Services Commission's explanation of the virtual asset service provider framework](https://www.bvifsc.vg/news/industry-updates/virtual-assets-service-providers-act-2022). ## **Address evidence for remote British Virgin Islands companies** The registered address and principal operating address can be the same when the company genuinely operates from its registered address. If the company uses its British Virgin Islands registered agent's office only for legal registration, use that address only as the registered address, enter the actual operating location as the principal operating address, and follow the route below. | **Situation** | **What to enter** | **What to prepare** | | ----------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Separate physical office or workspace** | Keep the British Virgin Islands registered agent's office as the registered address. Enter the actual office or workspace as the principal operating address. | Evidence in the applying company's name: a bank statement, utility bill, or government letter issued within the last 90 days, or a current office lease. It must show a physical operating address, not a post office box or virtual office. | | **Fully remote company** | Keep the British Virgin Islands registered agent's office as the registered address. When Lisk offers the remote-company route, enter the supported residential address where an eligible ultimate beneficial owner holding 25% or more operates the company as the principal operating address. | Upload accepted residential proof for that ultimate beneficial owner. A bank statement, utility bill, government-issued letter, or government-issued identity document must have been issued within the last 90 days; a residential lease may be older if it is current. Use this route only after the Lisk flow or Lisk Support confirms that Bridge has enabled it for your application. [Bridge's public proof-of-address requirements](https://apidocs.bridge.xyz/platform/customers/compliance/poa) do not provide a general exception for ordinary remote companies. Final acceptance remains with Bridge. | If no individual owns 25% or more: provide the standard ownership information. Do not use a non-owner Control Person's residential proof for the operating address unless Lisk confirms that Bridge has approved an exception for the application. ## **British Virgin Islands ownership records and Lisk roles** | **Role** | **Meaning** | **What to do** | | ----------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **ultimate beneficial owner** | Under British Virgin Islands rules, a beneficial owner includes a natural person who directly or indirectly owns or controls 10% or more, can appoint or remove a majority of the board, or otherwise controls management. If none is identified after reasonable efforts, a senior managing official is recorded. For this Lisk/Bridge flow, verify every individual who owns 25% or more, directly or indirectly. | Submit the complete ownership structure, follow the people requested in the form, and use only an eligible ultimate beneficial owner holding 25% or more for the remote-company route. | | **Control Person** | A director or executive with significant responsibility for the company. This person may or may not be an ultimate beneficial owner. | Identify at least one. A non-owner Control Person is not eligible for the 25%-owner address option described here; a different route requires Bridge's approval. | Ownership attestation: A Control Person can confirm the disclosed ownership structure using the [checkbox in Bridge's hosted flow](https://apidocs.bridge.xyz/platform/customers/compliance/businesses/ownership), when that option is available for the application. This may satisfy the ownership-evidence requirement; it does not replace disclosure or identity checks for the required people, and Bridge may request documents. If separate confirmation of the Control Person's role is requested, use [Control Person Attestation Form - Guide and Template](https://docs.google.com/document/d/1_filkvAQGqBULv2D3PcqHXGoH-g5YJdFe9wn0j0QlzY/edit). ## **Common British Virgin Islands follow-ups** | **Follow-up** | **Why it happens** | **Prepare this** | | --------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Operating address** | The registered agent's office proves the legal registered address, not where the business operates. | The correct company-level evidence or the conditional remote-company route described above. | | **Ownership and directors** | The Register of Members shows a corporate shareholder, the full natural-person chain is unclear, or the records are not current. | Current Register of Members and Register of Directors, a signed ownership chart, and supporting records for each intermediary entity. | | **Source of funds** | The source, legal relationship, or movement of funds is unclear. | Evidence matching the stated source of funds. For example, if a parent funds the company, evidence may include a signed funding letter and the relevant grant, equity, or loan documents. | | **Nature of business** | The website or public information does not prove the stated activity. | Contracts, invoices, receipts, product information, licenses, or partner agreements, organized with the cover sheet. | | **Regulated or virtual-asset activity** | It is unclear whether the company provides a virtual-asset service for another person or otherwise conducts regulated activity in or from the British Virgin Islands. | State the exact activities and provide any applicable virtual asset service provider registration or other Financial Services Commission license, anti-money laundering material, funds-flow details, and regulated-partner agreements. | ## **Fictional example** NovaChain Labs Ltd is a fictional British Virgin Islands Business Company that provides Web3 infrastructure and business-to-business software-as-a-service integrations. Its preparation pack includes the Certificate of Incorporation, current Memorandum and Articles, Register of Members, Register of Directors, and a signed ownership chart. Maya Chen owns 60% directly. Orbit Holdings owns 40%; Orbit is owned 75% by Luis Romero and 25% by Ava Singh, producing ultimate ownership of 60%, 30% and 10%. Maya and Luis are the ultimate beneficial owners holding 25% or more for the Lisk flow. Maya is also chief executive officer, director and Control Person. The registered agent’s office remains the registered address. If NovaChain has a separate office, it prepares current company-level address evidence. If it is fully remote and Lisk offers the remote-company route, it may use recent residential proof for Maya, mapped to her as the eligible 60% ultimate beneficial owner. It also prepares the requested person identity document and address evidence, an executed software-as-a-service contract with a recent invoice and receipt, and a clear account-purpose and source-of-funds explanation. It receives its own business-to-business subscription and integration fees and pays cloud, security and contractor costs; it does not hold, exchange or transmit customer assets. This example is illustrative only. Bridge may request additional evidence after its risk review. Address and identity evidence: [Proof of Address and Identity Evidence Guide](/guides/getting-started/complete-business-verification-kyb/proof-of-address-and-identity-evidence-guide.md) Formation, ownership and company records: [Formation, Ownership and Company Records Evidence Guide](/guides/getting-started/complete-business-verification-kyb/formation-ownership-and-company-records-evidence-guide.md) Financial, tax, regulatory and request for information evidence: [Financial, Tax, Regulatory and Special RFI Evidence Guide](/guides/getting-started/complete-business-verification-kyb/financial-tax-regulatory-and-special-request-for-information-evidence-guide.md) Timing: British Virgin Islands reviews may require additional due diligence and follow-up requests. Actual timing varies and is not guaranteed.