Forex License in the British Virgin Islands

BVI is a comfortable jurisdiction for promising forex business development. It is a regulated, respected zone with a loyal regulatory framework and favorable taxation, ideal for obtaining a Forex License. Gofaizen & Sherle offers professional assistance in obtaining a Forex Broker License in the British Virgin Islands remotely.

The Forex License in the British Virgin Islands issued by the Financial Services Commission (BVI FSC) allows brokers to provide investment advice, analyze and report on securities, and manage client portfolios.

Forex licensing is available in the British Virgin Islands to facilitate international business. The process of Forex license in BVI includes the requirements of having a local office and a bank account for the initial capital, the amount of which the FSC determines in the range of $100,000 to $250,000. In addition to the financial requirements, the company must ensure that its key employees are approved by the FSC, which ensures a high level of trust and security for customers.

Advantages also include the absence of capital gains taxes and the convenience of online meetings, making the BVI an attractive jurisdiction for forex companies looking to grow globally and raise their profile.

Advantages of the British Virgin Islands Forex License

A solid legal framework

The British Virgin Islands applies the English common law system, which guarantees entrepreneurs and investors a familiar and time-tested legal framework. This provides the legal clarity and stability to protect investments and business operations.

Simplified licensing

Obtaining a Forex License in the British Virgin Islands is characterized by relative simplicity and speed. This reduces administrative barriers and makes the jurisdiction accessible to start-ups and established companies looking to expand internationally.

Attractive tax climate

The absence of corporate, capital gains and dividend taxes significantly reduces the tax burden on companies. This creates favorable conditions for reinvestment of profits and facilitates business growth and expansion.

International trust

The strict but fair regulation of financial activities in the British Virgin Islands contributes to a high level of trust from international partners and clients, strengthening the reputation of companies operating in this jurisdiction.

Flexibility of financial transactions

The absence of exchange controls allows companies to freely conduct international financial transactions, facilitating global trade, investment, and transfers, simplifying capital management, and minimizing financial risks.

Convenience and flexibility in the conduct of business

The ability to conduct shareholder and director meetings electronically greatly simplifies the process of managing international business, enabling faster decision-making and increasing the efficiency of interaction within the company and with partners.

Request more information about BVI Forex License

Requirements for obtaining the British Virgin Islands Forex License

Key requirements for obtaining a Forex license in BVI:

Registration and documentation:

  • Registration of a company in the jurisdiction with a local office and bank account is required.
  • A set of documents is required, including incorporation documents, a business plan, and proof of financial stability.

Financial conditions:

  • Authorized capital is set by the FSC and ranges from $100,000 to $250,000.
  • Financial statements and business projections are required.


  • FSC approval is required for key management positions with no residency restrictions.
  • Applicants and key employees must meet the criteria of competence and integrity.

Compliance with regulatory requirements:

  • Development and implementation of policies to prevent money laundering and terrorist financing.
  • Implementation of a risk management framework, including market, credit, and operational risks.
  • Commitment to comply with local financial services legislation, including specific requirements for forex activities.

Technology infrastructure:

  • A robust technology platform is required, including trading platforms and cybersecurity measures.

Process and timeline for obtaining a Forex License in the BVI

The process of applying for a British Virgin Islands Forex License may vary in specific steps, taking into account the specifics of the business model and the type of license requested. However, several mandatory steps must be followed to successfully obtain the license.

Company Registration

Step 1

Determine the appropriate legal form for your business, whether it is a BVI BC, IBC, LLC, or other structure. The choice depends on the size, complexity, and strategy of your company. At this stage, it is important to get expert advice for an informed decision.

Prepare documentation

Step 2

Gather a complete set of documents, including personal information, regulatory declarations, and specialized documents such as a business plan and anti-money laundering procedures. It is important to carefully complete the official application form from the BVI FSC and prepare all necessary evidence of regulatory compliance.

Pay the application fee

Step 3

Pay the fee set by the BVI FSC, which is an integral part of the application process (approximately $1,000).

Submit the application

Step 4

Send your set of documents to BVI FSC for verification and legal review. Make sure your documents are complete and well-prepared to avoid delays.

Due diligence

Step 5

Your directors, officers, and key employees will be assessed for competence and integrity. This step confirms their ability to manage the forex business according to BVI FSC standards.

Open a bank account

Step 6

Open a capital deposit account, which is necessary to financially certify your company to the regulator.

Obtain Insurance

Step 7

Take out professional liability insurance to further protect your business and clients.
Once all steps are completed and approved by the BVI FSC, your company becomes a full-fledged participant in the forex market. The whole process takes about 3 months, provided all documents and procedures are completed correctly and on time. Contacting Gofaizen & Sherle’s professional lawyers at every stage of the licensing process will ensure efficiency and time savings, allowing you to complete the licensing process.

Types of Forex Licenses in the British Virgin Islands

There are several key types of licenses in this jurisdiction, each of which defines certain powers and capabilities of its holders.

Category 1: Investment Operations

  • Subcategory A: Agency Activities

Allows licensees to act as intermediaries between buyers and sellers, facilitating transactions without direct involvement. Agents offer advice, assist in locating counterparties, manage negotiations, and conclude transactions on behalf of clients.

  • Subcategory B: Transactions as principal

Authorizes license holders to act as market makers, trading on their behalf and for their accounts. Unlike agency activities, holders of this license can be direct participants in transactions, acting as counterparties for their clients.

Category 2. Organization of investment transactions

License issuers are given the right to refer clients to first-category license holders, receiving commissions for successful transactions. The holders’ task is to attract clients and create favorable conditions for transactions.

Category 3. Investment Management License

Provides the right to professionally manage clients’ assets, including portfolio management, investment advice, and trading on behalf of clients.

Category 4: Investment Advice

Gives licensees the right to provide investment advisory services, including advice on trading strategies and investment decisions.

In most cases, the BVI FSC issues forex licenses for one year, and the term may vary according to the type of license. The methods of license renewal vary and are directly related to the license category. To successfully renew their forex license, holders must apply for renewal before its expiration date, proving their continued adherence to regulatory standards and fulfillment of financial obligations.

Open a Forex Company in the British Virgin Islands

There are many company legal structures available for doing business, including in the British Virgin Islands, each offering unique advantages and suitable for different business purposes. Before embarking on the process of obtaining a forex license in the British Virgin Islands, prospective entrepreneurs need to carefully select the right legal structure for their company. Popular options include a Business Company (BVI BC), an International Business Company (IBC), a Limited Liability Company (LLC), and others.

Choosing the right legal structure is important for forex entrepreneurs, many of whom favor the BVI Business Company (BC) for its flexibility, ease of formation, and tax advantages. Such companies can engage in a variety of forex activities.

Steps to set up a company in the British Virgin Islands:

  1. Reserve a unique company name that meets all the requirements.
  2. Select a BVI registered agent.
  3. Prepare and file all required documents, including a memorandum of association and articles of incorporation, through a registered agent.
  4. Prepare the necessary documents. These may include:

– Memorandum and Articles of Association;

– Registered agent details;

– Physical office lease documents;

– Application form from the agent;

– Certificate of registration of the company name;

– Copies of proof of identity and residential address of key persons;

– Set of forms for detailed audit;

– Information on share structure (number, classes, denominations);

– Receipt for payment of state duty – 450-1200 USD;

– Signed consent forms from directors and shareholders;

  1. Rent a local office and register an address.
  2. Open a corporate account to manage finances and pay all fees.
  3. If hiring foreign employees, obtain the necessary work permits from the Department of Labor.
  4. Register with the Social Security Contribution Board.

Business Features:

  • No requirement to hold meetings on the islands; online meetings are possible.
  • No obligation to file financial statements, provided adequate records are kept.

Forex Lawyers in the British Virgin Islands

Kiryl Zaremba


Senior Associate, Business Development Manager
Leonid Turok


Senior Associate, Head of Sales (FX and iGaming)

Find out more about the Forex license in the BVI

Regulation of the BVI Forex License

The principal regulator in the British Virgin Islands is the Financial Services Commission (FSC), established in December 2001 following the enactment of legislation. This autonomous body oversees a wide range of financial services, including insurance, banking, asset management, investment, corporate registration, and intellectual property.

The FSC’s objectives include ensuring that companies and individuals providing financial services meet high standards of competence and financial soundness. The Commission works to prevent financial crime and market abuse, while also promoting public understanding of financial products and risks. It actively cooperates with international regulators to promote development and innovation in the financial sector and seeks to ensure effective financial services legislation. In addition, the FSC promotes continuing education for professionals in the financial industry and seeks to improve engagement with the industry and government to improve financial services policy and practice.

The British Virgin Islands has several laws and regulations aimed at regulating forex services, as well as transparency and consumer protection. A brief overview of the main pieces of legislation:

Taxation for Forex companies in the British Virgin Islands

In the British Virgin Islands, companies with forex licenses and other offshore companies enjoy tax benefits including exemption from income tax, capital gains tax, VAT, and other taxes. However, tax obligations may vary depending on the company’s activities, so consultation with tax experts is recommended.

Key aspects of taxation include:

  • Payroll Tax: This is levied on companies employing local workers at a rate of 8%, with the first $10,000 exempt.
  • Annual government levy: All companies are required to pay an annual levy, the amount of which depends on the amount of authorized capital. Companies up to $50,000 are required to pay a fee of $350, and $1,100 for companies with authorized capital of $5,001 or more.
  • Taxation of trusts: Trust income is not taxed if the trust is managed by a non-resident, does not own land on the islands, and does not carry on business there.
  • Income Tax: Not levied on individuals unless they are employees of local companies.
  • Social contributions: Paid by both employers and the self-employed, with different rates for small and large companies.
  • Property Taxes: Varies depending on the status of the owner and the size of the property.
  • International tax treaties: The British Virgin Islands has signed tax information exchange agreements with 28 countries to prevent tax evasion.

FAQ about Forex License in the British Virgin Islands

How to obtain a Forex Broker License for BVI?

To obtain a Forex Broker License in the British Virgin Islands, you need to register a company and collect the necessary documents, pay a fee to the BVI FSC, and pass an inspection. Once the application is approved, the licensing process will take about 3 months.

How much does it cost to get a forex license in the BVI?

The cost of obtaining a forex license in the British Virgin Islands can vary greatly depending on several factors. However, the basic registration fee with the BVI FSC is around $1,000. To this should be added legal and consulting fees, which can significantly increase the overall cost of the licensing process.

How long does it take to obtain a BVI Forex License?

The process of obtaining a Forex License in the British Virgin Islands takes about 3 months after the application is approved.

What is the minimum count of members/directors required for a company in the British Virgin Islands?

A company requires at least one director and one shareholder, and these roles can be filled by the same person, whether natural or legal.

What tax obligations apply to a British Virgin Islands company holding a Forex license?

Companies in the British Virgin Islands with a forex license are exempt from income tax, VAT, and capital gains tax. The main obligation is an annual levy to the government.

What is the yearly fee for a forex license in the British Virgin Islands?

The annual renewal fee for a forex license in the British Virgin Islands ranges from $1,800 to $10,000, depending on the type of license and other criteria.

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