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The British Virgin Islands (BVI) is one of the most popular destinations for the Forex license. This jurisdiction offers the status of a regulated entity, meaning that your company enhances its reputation and can be completely based overseas. High-level confidentiality is another upside of the jurisdiction.
This article is about the chief advantages of the BVI Forex license and provides a detailed description of the Forex license issue process.
We have highlighted a number of advantages of getting a Forex license in the BVI. Many businessmen choose the BVI to obtain the Forex license because:
The BVI Financial Services Commission (FSC) is in charge of all financial services rendered in the BVI. The FSC is responsible for company formation and management and for intellectual property in the BVI. The regulator also issues broker licenses for Forex market operations in the British Virgin Islands.
In 2010 the BVI Financial Services Commission drafted the Securities and Investment Business Act, implementing a new set of rules and regulations for Forex brokers and other investment companies.
The FSC defines the authorized capital which varies from USD 100,000 to 250,000. Forex companies should also keep in mind the professional liability insurance requirements.
Forex company structure:
We have made a list of documents essential for getting the BVI Forex license. Those should be submitted by shareholders, directors, and beneficiaries. To set up a corporate bank account the following is required:
To be submitted to the FSC regulator:
The documents must be in English and certified by a notary. the FSC and the bank may request additional documents.
The Forex license issue involves the following stages:
The Forex license issue period in the BVI is up to 4 months.
Our lawyers will help you get a Forex license in the British Virgin Islands and beyond. Our offer includes customized solutions depending on the legislation, budget, residency, and other specifics. Join our Telegram chat to get a free consultation from our FinTech lawyers.
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