Proceeds of Criminal Conduct Act, 1997, as amended
Anti-Money Laundering Regulations 2008, as amended
Anti-Money Laundering and Terrorist Financing Code of Practice 2008, as amended
Non-Profit Organizations Act, 2012
What is a Non-Profit Organization (NPO)?
Under the law in the British Virgin Islands (hereinafter referred to as the "Territory"}, NPO means a body of persons whether incorporated or unincorporated, established solely or primarily for the promotion of charitable, religious, cultural, educational, social or fraternal purposes, or other activities or programmes for the benefit of the public, or a section of the public and which raises or disburses funds in pursuance of its objectives primarily within the Territory.
There are many different types of NPOs. Some examples include but are not limited to: sporting/youth organisations; foundations; service clubs; churches/religious organisations; community groups/organisations and national country associations.
If you think you are operating as an NPO but are unsure, please contact the Non-Profit Organisation Registration Board ("NPO Board") for guidance.
ACTION REQUIRED
The Anti-Money Laundering and Terrorist Financing Code of Practice 2008, as amended, applies to all NPOs. The Financial Investigation Agency (the "Agency") is responsible for the supervision and monitoring of NPOs in the Territory, to ensure compliance with the relevant legislation.
The Agency is inviting all NPOs operating within the Territory to notify the Agency of their operations.
Please contact the Agency's Supervision and Enforcement Unit on telephone number 284-494-1335 or via email at complianceunit@ fiabvi.vg by 30 June 2020. The Agency will then contact you with information on the next steps required.
The Agency would also like to take this opportunity to remind all persons that they are not allowed to operate an NPO in the Territory unless the organisation has been registered with the NPO Board.
If your NPO is operating without the requisite certificate of registration, the Agency advises that you contact the NPO Board to regularise the operation of your NPO.