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. In addition, the island nation offers a British Virgin Islands Forex License which is among the most respected in the industry.
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 British Virgin Islands Forex License is also robust in that it allows for the brokering of multiple financial products. Capital requirements vary depending on size, but are flexible and do not require a blocked deposit. Moreover, the BVI forex license is viewed favorably among forex market participants given the nation’s status as a premier offshore financial center.
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 British Virgin Islands 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
|License||Investment Manager License|
|Time to License||Approx. 2 Months|
|Tax Structure||No income or capital gains tax|
The BVI Forex License Package
- Incorporation of British Virgin Islands offshore corporation
- Arrange for local registered officer, local directors and local office
- Draft corporate bylaws, minutes and owner share issuances
- Establishment of corporate bank account suitable for forex operations
- Establishment of merchant service account for accepting credit and debit cards, as well as e-money and cryptocurrency
- Draft requisite business plan, financial statements and financial projections
- Draft requisite Anti-Money Laundering & Know-Your-Customer and related compliance policies
- Arrange for requisite surety bond
- Prepare and process application for a British Virgin Islands Forex License with BVI Financial Services Commission
- Representation before licensing regulatory authority, forex prime brokers, banks and liquidity providers
- Ongoing legal and compliance support
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.
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