British Virgin Islands Forex License
The British Virgin Islands is home to over 600,000 offshore entities, making it the largest offshore destination in the world. Among these entities are some of the world’s largest and most renowned hedge funds. Since 1984, this stable, British Territory has been a fixture on the global stage as one of the preeminent offshore financial services jurisdictions.
Relying on the United States dollar as its prevailing currency, the British Virgin Islands continues to be attractive not only to asset managers, but also to investors seeking favorable tax treatment and privacy. Corporate income tax has been abolished in the BVI and replaced with a withholding tax applicable only to entities earning domestic income. Moreover, the nation’s Financial Services Commission has remained committed to streamlining corporate and financial services compliance, all at a relatively low cost.
The British Virgin Islands is an ideal location for promoters of Forex businesses. The BVI offers registration under its Securities Industry Act which covers all related forex activity, including both acting as an introducing broker and direct broker. The licensure is recognized world-wide and many top forex brokers are licensed in the British Virgin Islands. In addition, the process of obtaining a license is both cost effective and can be accomplished in a relatively short period of time.
Advantages of a BVI Forex License
Aggregate daily trading volume in the forex markets exceeds $4 trillion. The streamlined and cost-effective process in obtaining a BVI Forex license can place you in this lucrative market in as little as three months. With increased volatility in the global currency markets, spreads have increased – and with that so have forex brokers’ profitable to the tune of over $1 billion annually. As such, smaller forex brokers are capturing tremendous returns owning just a small piece of this lucrative market.
BVI Forex License at a Glance
|Financial Business Provider
|Time to License
|3 to 4 Months
|No income or capital gains tax
The BVI Forex License Package
- Establish BVI private limited company.
- Preparation and drafting of shareholder and officer agreements.
- Preparation and drafting of narrative business plan.
- Preparation and drafting of current financial statements.
- Preparation and drafting of 3 years financial projections.
- Preparation and drafting of personal financial statements for owners.
- Preparation and submission of application with BVI FSC
- Preparation and drafting of responses to BVI FSC
- Identification and engagement of auditor and forex prime broker.
- Facilitate opening of bank accounts and payment processors.
- Preparation and drafting of AML/KYC policies and procedures.
- Preparation and drafting of client agreements and disclosures
Contact the BVI Forex License Experts
Trust our over fifty year’s combined experience in creating innovative solutions for our clients. Contact the forex licensing experts at FinLaw to begin the process of obtaining your British Virgin Islands Forex License today. Our knowledgeable and skilled professionals are pleased to answer any of your questions.