BDO Partners with British Virgin Islands to Implement a New Beneficial Ownership Secure Search Platform

February 2017

British Virgin Islands, 1, February, 2017 – BDO Limited (‘BDO’) proudly announces its partnership with the British Virgin Islands (BVI) to build an innovative technology platform. BOSSs (Beneficial Ownership Secure Search system).

A team comprised of key players at BDO Canada, BDO U.S., and BDO British Virgin Islands partnered to develop the platform in March of 2016. The BOSSs solution, which officially goes live in June, allows BVI law enforcement to efficiently share information with UK law enforcement within 24 hours.

At its core, the new platform is a searchable portal providing BVI law enforcement authorities direct and immediate access to verified beneficial ownership information on any BVI company while ensuring its systems and processes remain leading-edge.

The platform was officially unveiled to the BVI financial services industry on February 1 and presented on Friday, February 3, at BVI Finance’s breakfast forum by Neil Smith, their Financial Secretary, joined by BDO’s Deputy Managing Director Ryan Geluk, and Technical Risk Services Manager Guy-Paul Dubois.

“Over the past 30 years, the BVI has carefully built a market leading financial services proposition and a robust regulatory framework. We believe the implementation of BOSSs will strengthen this even further, and cement our position as a leading international finance centre,” Mr. Smith said. "We’re delighted that this will put the Territory at the very forefront of best practice in regard to obtaining and managing beneficial ownership information."