bvi

What Are the Requirements for a BVI Business Company?

• The company must have at least one director and one shareholder. It can be the same person, and there are no limitations for residents of other countries.
• The company must have a registered address or registered agent’s office address, not a P.O. box.
• The company must have a unique name.

Algorithm of Incorporation

• Appoint a licensed agent.
• Choose and register a business name.
• Start the company.
• Get a business license.
• Fulfill post-registration requirements.

If you’re considering establishing a cryptocurrency firm, the British Virgin Islands is a place to consider. Please feel free to contact us for any inquiries or concerns. Our amiable advisors can give pragmatic suggestions and beneficial direction for your business undertaking.

The British Virgin Islands (BVI) is known as one of the most extensive offshore regions globally. The state has implemented significant measures to position itself as an appealing location for entrepreneurs worldwide, particularly those interested in establishing, operating, and expanding crypto-oriented companies.

The government doesn’t have any particular regulatory advice or guidelines for cryptocurrencies, virtual assets, blockchain, or fintech in general. Despite expressing a desire to establish a clear legal framework for cryptocurrencies, official consultations or draft legislation have yet to be revealed.

The BVI Financial Services Commission (FSC) stated in 2020 that the current financial services legislation would govern regulations for crypto-related activities. Therefore, it implies that companies conducting activities connected to crypto exchange or crypto lending must thoroughly assess whether their proposed actions fall under the scope of existing laws.

Is It Worth Incorporating Crypto Activities in the BVI?

If you’re considering starting a cryptocurrency-based business, a popular legal structure you can opt for is a BVI Business Company (BC).

A BC is a corporation established under the BVI Business Companies Act 2004 (BCA), which offers flexibility, easy access to funds, and low setup expenses. If the cryptocurrency is not associated with illegal activities, you can use a BC to engage in crypto operations.

While there is no specific legislation on crypto licensing for BVI businesses, a BC must acquire licenses to carry out crypto-related activities in compliance with regulations established by the FSC.