CRS - Registration of FIs

I would like to have the opinion of the community in regards to the registration of BVI companies for CRS purposes.
The registration of all BVI FIs must be done by 30 June 2017 I believe.

  1. Does this apply to BVI FIs that need to report or does the requirement extend to ALL BVI FIs, i.e. even those that do not have a reporting requirement?
  2. What are the consequences for non-registration or non-registration within the deadline of 30 June 2017?
    Many thanks for your comments.
    Marco Berni
    Probus Trustees S.A.