Eternity Law International News British Virgin Islands Forex License

British Virgin Islands Forex License

August 31, 2022

Field of Forex-brokerage today has significantly expanded its boundaries, attracting more and more novice businessmen and experienced investors. Having developed and successfully applied a reliable and loyal base for financial services controlling and monitoring, British Virgin Islands have become quite an attractive center for Forex-companies. Additionally, long history of licensing these structures in the BVI is a good argument for existing brokers who are interested in becoming a regulated structure.

Our company specializes in establishment and licensing of commercial projects around the world. We have been present in this area for many years, which is a guarantee of our professionalism and the high quality of our work. We help in getting a Forex-license in Mauritius, Vanuatu, Hong Kong and other countries.

BVI Forex-license requirements

FSC – the local regulatory authority of financial industry – has established the following regulatory norms and rules for firms wishing to function in the Forex industry locally.

  1. Mandatory firm establishment in territory of jurisdiction, which requires a local office and an active bank account to contribute initial capital, as well as to meet commercial needs.
  2. Correct completion by candidate of forms, questionnaires and applications provided by FSC. The questionnaire, as a rule, includes questions regarding the founder himself, the types and areas of activity in which the company intends to work, and the type of permit. The specified information must be confirmed by relevant documents.

The package of required documentation for a BVI Forex broker license includes the following:

  • diplomas, certificates and certificates in order to confirm the presence of a vocational level of background and qualifications in this field;
  • address of company established locally;
  • Statute of enterprise;
  • a detailed business-plan with forecasts for a certain future period;
  • financial confirmation. You can deposit the amount of initial capital in BV Islands after license permit has been received. However, commission must obtain full and accurate evidence that the applicant has sufficient funds to develop the firm and maintain its functionality.

The following requirements are put forward for the licensee.

  1. Regarding the financial condition. There is no clear regulation for specifying the size of the authorized capital of the company. FSC sets amount from 100,000 to 250,000 USD.
  2. Regarding the workers. There are no residency requirements. Persons selected and appointed to senior management positions, particularly, a director, must be approved by regulatory body.
  3. Regarding reporting. All documented data about transactions must be kept in the archives of the company for at least 5 years from the moment the transaction was completed.
  4. Firm is obliged to provide a legally-approved and fair procedure for opening accounts, crediting funds, and returning assets to customers.

Types of Forex-licenses in British Virgin Islands

In this jurisdiction, there is one type of permission for Forex firms. In fact, a company that has licensed its business in BVI has rights to:

  • give advice on investment deals in securities;
  • issue, analyze or create reports on any specific securities;
  • manage client portfolios.

Advantages of Forex-licenses in BVI

BVI has status of demanded jurisdiction for obtaining a Forex broker permit on a global level. In accordance with the latest data from global statistical and registration indicators, more than 50% of all Forex startups have been registered and received official permission to operate in the territory of this jurisdiction. The islands are attractive to many businessmen due to the fact that they offer a list of undeniable privileges.

  1. No taxes on capital gains, inheritance or dividends.
  2. Meetings of shareholders and directors are permitted to be held outside the BVI.
  3. The absence of any regulatory rules regarding the place and procedure for holding annual meetings. All meetings are allowed to be held online.
  4. The excellent reputation of the jurisdiction at the global level, which is attractive to investors and helps to ensure a high level of trust from clients.

Procedure for getting a Forex-license in British Virgin Islands

Getting a BVI Forex broker license involves the mandatory completion of the following steps.

  1. Company registration.
  2. Filling out of application and documents’ preparation.
  3. Drafting and implementation of AML policies and mechanisms and business plans.
  4. Banking account opening.
  5. Submitting application to FSC.

In order for the decision to extradite a candidate to be made successfully, the following must be done.

  1. Check the availability of the company name.
  2. Develop corporate charters, protocols and organize a scheme for issuing shares of owners.
  3. Prepare financial projections and investment mechanisms.
  4. Meet the initial capital requirements.
  5. Pass an interview with the regulator.
  6. Open a trading account, necessary to accept credit and debit cards, as well as cryptocurrencies.

Our experts will help you to successfully complete each stage of this procedure, accompanying you until the process is completed. We also offer ready-made firms for sale, in particular companies in Liechtenstein, Germany, France, Cyprus and other countries.

Taxes for BVI Forex-companies

The BVI are quite profitable and attractive for investors, in particular due to their tax regime. There isn’t income tax on islands, no VAT and sales tax.

What is included in our services

Our specialists are true professionals committed to their work. We offer a comprehensive service range for registration and licensing of forex business in various jurisdictions.

  1. Establishment of firms in jurisdictions around the world.
  2. Assistance in obtaining licenses and official permits.
  3. Collecting, preparing and filling out documentation packages.
  4. Opening banking and merchant accounts.
  5. Corporate services: search, rent and official registration of office space, staff recruitment, financial reporting and more.
  6. Ready-made companies and licenses for sale.
  7. Providing comprehensive professional advice on any issues related to establishment of firms and obtaining permits for activities.

We will provide you with a guarantee of our professionalism, as well as the fastest and highest quality result. Our specialists will fully accompany you, taking on the most difficult aspects, in particular, interaction with regulators.

How much does a Forex-license in British Virgin Islands cost?

Cost of getting a Forex-permit is calculated individually in each individual case, since it depends on the type of permit and many related factors. Our experts will help you calculate potential costs, while making every effort to optimize your budget.

Our advantages

We have been present on the market for the establishment and licensing of commercial structures for many years. There are many successful transactions on the account of our specialists, which is a confirmation and guarantee of our high professionalism and experience. We individually approach the resolution of each issue, trying to choose the most optimal and profitable option for each client.

  1. High qualification. All our specialists are real experts committed to their work.
  2. Many years of experience in jurisdictions around the world.
  3. Thousands of satisfied customers.
  4. An extensive list of corporate services.
  5. Focus on achieving the most effective and fast results.
  6. The desire to keep up with innovative developments and technological solutions.

By contacting us, you will receive favorable and loyal terms of cooperation. We will make every effort to make the start of your commercial journey or business expansion comfortable and fast.

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