Premier Dr the Hon Natalio D. Wheatley (R7), right, with United Kingdom Minister for Overseas Territories, Stephen J. Doughty. At the Joint Ministerial Council (JMC), held November 24-28, 2025, the Virgin Islands, along with Anguilla and Bermuda, agreed to strengthen its 'legitimate interest' access model, and to continue delivery of its registers in line with the commitments made at the previous JMC. Photo: GIS

The Joint Ministerial Council (JMC) was held in London from November 24-28, 2025. Photo: GIS

This was a major victory for the Virgin Islands Government led by Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7), as Public Registers would have crippled the Virgin Islands’ (VI) legitimate financial services industry.

At the Joint Ministerial Council (JMC), held November 24-28, 2025, the Virgin Islands, along with Anguilla and Bermuda, agreed to strengthen its “legitimate interest” access model, and to continue delivery of its registers in line with the commitments made at the previous JMC.

The UK will provide technical support where this is requested.

Commitments

“We note commitments by Anguilla, Bermuda, the British Virgin Islands, the Cayman Islands and Turks and Caicos Islands to hold further technical discussions starting in the coming weeks to ensure that we deliver the maximum possible degree of access and transparency whilst protecting the right to privacy in line with respective constitutions.

“Elected Leaders and the Minister of State will reconvene in early 2026 to review progress and provide a comprehensive update,” the Communique issued by the United Kingdom and Overseas Territories (OTs) on November 28, 2025, on the conclusions of the Joint Ministerial Council (JMC), stated.

Meanwhile, the JMC welcomed the launch of a Publicly Accessible Register of Beneficial Ownership (PARBO) by St Helena and noted the Falkland Islands’ recommitment to launching a PARBO by summer 2026.

“We welcome the introduction of legitimate interest access to existing registers of beneficial ownership by the Cayman Islands in February 2025 and the Turks and Caicos Islands in June 2025 and note Cayman Islands’ June 2025 commitment to further improve user access,” the Communique stated.