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In 2010, a decade ago, the BVI FSC, a regulative authority the remit of which includes regulation, supervision, and inspection of the local sector of finances, introduced a set of formalities in respect of foreign exchange trading and investing, thereby becoming a standard-setter in regulation we see nowadays. This doesn’t mean that BVI is a pioneer in monetary services market supervision. Actually, since the 90s o the previous century, businesspersons have found the BVI to be a preferable center to form their businesses after being licensed. As for now, a British Virgin Islands Forex license is a great opportunity for foreign exchange brokers both with long history and newcomers seeking to enter an offshore market. Read on to figure out why brokers both large and small deem this self-governing UK foreign territory in the Caribbean to be the destination of choice for getting approved for operation.
Many businesspersons decide to relocate to the Island to get licensed because:
In line with the obligations set by the FSC, the legal entity can be formed with the authorised capital which varies from USD100,000 to 250,000. Entities must continually execute professional liability insurance obligations.
In respect of the entity structure, the conditions for getting a Forex license in the British Virgin Islands are as follows:
A list of official papers for getting the BVI FSC Forex license should be submitted by shareholders, senior management, and beneficiary owners. Generally, to obtain the BVI Forex Broker license, an applicant must collect the formal papers as follows:
All official papers must be approved by a notary. It should be noted that the FSC while processing an application may ask for additional documentation.
To obtain the BVI Forex Trading License, an applicant must pass through the next steps:
The time needed to acquire the license is up to 3-5 months.
If you plan to apply for your British Virgin Islands (BVI) Forex License, please contact Eternity Law International lawyers for further consultation. Our offers include individual solutions subject to the legislation, budget, residency, and other peculiarities. Our lawyers will assist you to get licensed in the BVI and beyond.
Also, you can view new offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale” and “Licenses for sale”.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.