We will handle all aspects of obtaining your new BVI forex trading license. A minimum of 2 directors are needed. The most recent constitution was adopted in the Virgin Islands Constitution Order,   and came into force when the Legislative Council was dissolved for the general election. Custodian Services in Foreign Exchange What is a custodian? Entrepreneur Richard Branson , a resident of Necker Island British Virgin Islands , called on the UK government to develop a massive disaster recovery plan for British islands that were damaged.
The British Virgin Islands Financial Services Commission is a name which seems to be popping up more and more. All Forex brokerage firms operating from the British Virgin Islands have to be regulated by the country’s financial 5/5(2).
BVI Forex Broker License FAQ
But there is one group of islands that offer this and so much more, the British Virgin Islands. The islands offer both corporations and individuals amazing tax breaks guarantee a zero-percentage tax structure.
With all these advantages comes an influx of broker development. With all the popularity and the influx of brokers and traders coming to the BVI, it was evident a strong regulatory authority was needed to please the global financial community.
The BVIFSC has numerous responsibilities with their role of protecting and maintaining the integrity and transparency of financial markets in the British Virgin Islands. The regulatory authority is responsible for both the financial markets and the protection of traders and investors participating in these markets. As well, they must enforce these rules and supervise firms to ensure they comply with all the guidelines laid out by them. Since the British Virgin Islands are such an attractive destination due to its tax structure, there are many Forex brokers and companies alike who come here.
Although, there are also many companies who set up here purely for tax benefits and operate their services in fraudulent ways. Regulate all firms and individuals authorized to provide financial services under the jurisdiction of the the BVI, ensuring competency and financially viability.
Thereby safeguarding the protection of consumers;. To supervise the effectiveness of legislation surrounding the financial services industry. To provide a framework of continued education for the benefit of financial service practitioners. To consult with both industry and government in the continual development of financial service legislation, supervisory policy, regulation and practice. To uphold the reputation of the BVI financial services industry domestically and abroad.
To take into consideration the international character of financial regulation and the financial services business by liaising with foreign regulatory authorities. To monitor and detect financial-related crimes and assist in the prosecution of offenders. To instigate actions against any individual or business that violates BVI financial services laws.
As such, responsibilities are to assess all applications for licensing and certificates of operation within the BVI and to protect the interest of depositors, investors, consumers and the Territory itself. Eligibility for a license is limited to companies with sufficient capital investment, adequate systems and sound management teams.
Once a license is issued, the Committee maintains ongoing supervision of authorized entities in order to ensure their continuous compliance with relevant regulation. Elections are held roughly every four years. A cabinet is nominated by the Premier and appointed and chaired by the Governor. The Legislature consists of the Queen represented by the Governor and a unicameral House of Assembly made up of 13 elected members plus the Speaker and the Attorney General.
The current Governor is Augustus Jaspert since 22 August The British Virgin Islands is a unitary territory. The territory is divided into nine electoral districts, and each voter is registered in one of those districts. Eight of the nine districts are partly or wholly on Tortola, and encompass nearby neighbouring islands.
Only the ninth district Virgin Gorda and Anegada does not include any part of Tortola. At elections, in addition to voting their local representative, voters also cast votes for four "at-large" candidates who are elected upon a territory-wide basis.
The territory is also technically divided into five administrative districts one for each of the four largest islands, and then a fifth for all other islands , and into six civil registry districts three for Tortola, Jost Van Dyke, Virgin Gorda and Anegada although these have little practical relevance today.
In August a joint raid between the American DEA and the Royal Virgin Islands Police Force arrested a number of British Virgin Islands residents who are accused of being involved in major drugs transshipments ,  although their extradition to the United States has become bogged down in protracted legal wrangling. Although it is common to hear criticism in the British Virgin Islands' press about income inequality , no serious attempt has been made by economists to calculate a Gini coefficient or similar measure of income equality for the territory.
A report from suggested that, despite the popular perception, income inequality was actually lower in the British Virgin Islands than in any other OECS state,  although in global terms income equality is higher in the Caribbean than in many other regions. The "twin pillars" of the economy are tourism and financial services. Politically, tourism is the more important of the two, as it employs a greater number of people within the territory, and a larger proportion of the businesses in the tourist industry are locally owned, as are a number of the highly tourism-dependent sole traders for example, taxi drivers and street vendors.
Economically however, financial services associated with the territory's status as an offshore financial centre are by far the more important. The islands are a popular destination for US citizens. In a total of , people visited the islands, of whom , were cruise ship passengers. Tourists frequent the numerous white sand beaches, visit The Baths on Virgin Gorda , snorkel the coral reefs near Anegada, or experience the well-known bars of Jost Van Dyke.
The BVI are known as one of the world's greatest sailing destinations, and charter sailboats are a very popular way to visit less accessible islands. Every year since the BVI has hosted the Spring Regatta, which is a seven-day collection of sailing races throughout the islands. A substantial number of the tourists who visit the BVI are cruise ship passengers, and although they produce far lower revenue per head than charter boat tourists and hotel based tourists, they are nonetheless important to the substantial - and politically important - taxi driving community.
Only Virgin Islanders are permitted to work as taxi drivers. Financial services account for over half of the income of the territory. The majority of this revenue is generated by the licensing of offshore companies and related services.
The British Virgin Islands is a significant global player in the offshore financial services industry. At the end of the banking sector of the British Virgin Islands comprised six commercial banks  and one restricted bank, 12 authorised custodians, two licensed money services businesses and one licensed financing service provider.
As such the British Virgin Islands is frequently labelled as a " tax haven " by campaigners and NGOs,  and has been expressly named in anti-tax haven legislation in other countries on various occasions. They have taken action to make sure that they have fair and open tax systems. It is very important that our focus should now shift to those territories and countries that really are tax havens. The Model 1 Agreement 14 Pages  recognizes that:.
Under the UK Sanctions and Anti-Money Laundering Act of , beneficial ownership of companies in British overseas territories such as the British Virgin Islands must be publicly registered for disclosure by 31 December Agriculture and industry account for only a small proportion of the islands' GDP.
Agricultural produce includes fruit, vegetables, sugar cane, livestock and poultry, and industries include rum distillation, construction and boat building. The main airport, Terrance B. Virgin Gorda and Anegada have their own smaller airports. Private air charter services operated by Island Birds Air Charter fly directly to all three islands from any major airport in the Caribbean.
Helicopters are used to get to islands with no runway facilities; Antilles Helicopter Services is the only helicopter service based in the country. The main harbour is in Road Town. As in the UK and in the United States Virgin Islands, cars in the British Virgin Islands drive on the left , however they differ in that nearly all cars are left hand drive ,  being imported from the United States.
The roads are often quite steep, narrow and winding, and ruts can be a problem when it rains. As of the Census, the population of the territory was 28, Other large ethnic groups include those of British and other European origin. The Census reports the main places of origin of residents as follows: The territory has also been recently relieving immigrants from many islands in Lesser Antilles.
The islands are heavily dependent upon migrant labour. Unusually, the territory has one of the highest drowning mortality rates in the world being higher than other high risk countries such as China and India. Despite this, the territory's most popular beach still has no lifeguard presence. The British Virgin Islands operates several government schools as well as private schools.
There is also a community college, H. Lavity Stoutt Community College , that is located on the eastern end of Tortola. There is a University of the West Indies Open campus in the territory. The primary language is British English , although there is a local dialect. Spanish is spoken by Puerto Rican , Dominican and other Spanish-speaking immigrants. The traditional music of the British Virgin Islands is called fungi after the local cornmeal dish with the same name, often made with okra.
The special sound of fungi is due to a unique local fusion between African and European music. It functions as a medium of local history and folklore and is therefore a cherished cultural form of expression that is part of the curriculum in BVI schools. The fungi bands, also called "scratch bands", use instruments ranging from calabash , washboard, bongos and ukulele , to more traditional western instruments like keyboard, banjo, guitar, bass, triangle and saxophone.
Apart from being a form of festive dance music, fungi often contains humorous social commentaries, as well as BVI oral history. Because of its location and climate the British Virgin Islands has long been a haven for sailing enthusiasts. Sailing is regarded as one of the foremost sports in all of the BVI. Calm waters and steady breezes provide some of the best sailing conditions in the Caribbean. Many sailing events are held in the waters of this country, the largest of which is a week-long series of races called the Spring Regatta, the premier sailing event of the Caribbean, with several races hosted each day.
Boats include everything from full-size mono-hull yachts to dinghies. Captains and their crews come from all around the world to attend these races. The Spring Regatta is part race, part party, part festival. There are races, games, and music during the day, and some partying at night.
The Spring Regatta is normally held during the first week of April.
The official currency of the British Virgin Islands has been the United States dollar (US$) since , the currency also used by the United States Virgin Islands. Workforce. The British Virgin Islands is heavily dependent on migrant workers, and over 50% of all workers on the islands are of a foreign descent. BVI forex broker License from the FSC– Offshore Forex license with high regulation demands GBO is a world leader in assisting clients to obtain a BVI Forex licenses from the – BVI Financial Services Commission – FSA. Offshore Entities: British Virgin Islands Below is a list of online forex brokers which are incorporated or registered in the British Virgin Islands. Click on the links in the left column menu for forex brokers in other countries.