About the country
British Virgin Islands (BVI) often referred to as “offshore tax heaven” is one of the most popular forex jurisdictions due to absence of profit, corporation and capital gains tax. The British Virgin Islands (BVI) is a self-governing British overseas territory and is located approximately sixty miles east of Puerto Rico and two miles from St. Thomas, U.S. Virgin Islands.
About Licensing Body (BVI FSC)
The British Virgin Islands Financial Services Commission (BVI FSC) has ultimate responsibility for the supervision, regulation, and inspection of all financial services operating in the country. It is the watchdog for insurance, trustee banking, intellectual property, banking, company registration and management, and limited partnerships. The aim of the Commission is to safeguard the public against unauthorized or illegal financial service providers that offer services from or within the British Virgin Islands.
Our Process for BVI FSC Forex Company Formation
- To begin with, we gather and prepare all the documents, including due diligence.
- Submit the application to the BVI FSC.
- Negotiations with the regulator, completion of ad-hoc tasks.
- Prepare AML procedures and custom tailored business plan.
- Register the BVI Company Submission of the report and all of the corporate documents to the BVI FSC .
- Opening of company’s bank account to satisfy paid up capital requirements which include the preparation and submission of all the bank forms, corporate documents and due diligence documents.
- Ad-hoc support and provision of minor documents required during the process.
- Deposit of funds into a bank account in order to satisfy capital requirement for the FSC Submission of the letter from the Bank to the FSC that capital requirements are fulfilled.
- Opening a corporate account in EU bank for operational needs Receipt of license from the FSC and delivery of documents to the client.
- Finalizing bank account opening in the EU bank and delivery of documents to the client.
Advantages of incorporating a Company in BVI FSC
- A BVI company offers high level of privacy and confidentiality.
- All documents and legislation should be in English language.
- No requirement to pay capital gains, inheritance taxes or death duties.
- dividends, interest or royalties are required to be paid.
From the Client
- Notarized passport copy (Notarization text should be in English)
- Last 3-months utility bill (Attached with original copy)
- Professional letter/ Bank reference on Director/Shareholder
- Copy of the educational degree certificate (Should be in English)
Related to the process
- AML Procedures
- Business Plan
1.trademark applications, IP Agreements and Domain Name Registration;
2.website preparation as well as the preparation or review of any other marketing material.
3.assisting with the purchase and negotiations for an MT4 server or any other trading platform required
4.assessment, review or testing of the entity’s proposed trading platform;
5.assisting with the implementation of Know Your Customer (“KYC”) processes or other compliance procedures.