Americas & Caribbean · VG
British Virgin Islands
The BVI Financial Services Commission regulates investment business, money services and virtual asset service providers, alongside one of the most widely used company regimes.
At a glance
- Status
- British Overseas Territory
- Region
- Americas & Caribbean
- Regulated sectors
- PaymentsCryptoInvestment
- Authorities
- FSC · FIA
- Licensing routes
- 3
Overview
The framework
The British Virgin Islands is a British Overseas Territory and one of the most widely used jurisdictions for international holding and special-purpose companies, formed under the BVI Business Companies Act.
The Financial Services Commission licenses investment business under the Securities and Investment Business Act and money services businesses, and registers virtual asset service providers under the Virtual Assets Service Providers Act 2022.
Authorities
Who regulates what
- BVI Financial Services Commission (FSC)
- Investment business, funds, money services and virtual asset service providers.
- Financial Investigation Agency (FIA)
- Financial intelligence unit; AML/CFT reporting.
Regimes
Licensing routes
Investment business licence (SIBA)
Licensing for dealing, arranging, managing and advising on investments.
Sectors: Investment
VASP registration
Registration of virtual asset service providers under the Virtual Assets Service Providers Act 2022.
Sectors: Crypto
Money services business licence
Licensing of money transmission and currency exchange businesses.
Sectors: Payments
Applications and regulator engagement for these routes are handled by our Regulatory & Licensing practice.
Considerations
What to weigh up
- Economic substance rules apply to relevant activities of BVI entities.
- Banks assess BVI entities in the context of the whole group and its substance.
This overview is general information, summarised at a high level. Requirements change and depend on the specific activity; seek advice on your circumstances before acting.
Industries
Relevant industries
- Fintech & PaymentsPayment and e-money institutions, PSPs and acquirers, payment facilitators and embedded finance.
- Crypto & Digital AssetsCASPs and VASPs, exchanges, custodians, wallets, token projects and crypto payments.
- Forex & InvestmentsForex and CFD brokers, investment firms, trading and investment platforms.
Across jurisdictions
Cross-jurisdiction capabilities
Services we support across the jurisdictions in our directory, described once on their own pages. How each is delivered depends on the local requirements that apply; where local qualification is required, we coordinate locally qualified counsel.
- Privacy & Data ProtectionPrivacy compliance and GDPR programmes, notices and DPAs, DPIAs, data mapping and ROPA, transfers, audits and breach response.
- AML & Financial Crime ComplianceAML/CFT programmes, MLRO-as-a-Service, independent AML/CFT audits, risk assessments, monitoring, sanctions and inspection support.
- IP Registration & ProtectionTrademark and patent registration and protection, copyright protection, domain name disputes, portfolio support and IP agreements.
- Legal OpinionsRegulatory, business model, perimeter, payment, gaming, crypto-asset and cross-border opinions for banks, partners and investors.
- Bank Account OpeningSupport with corporate and operational accounts at banks and EMIs, prepared for how their compliance teams assess high-risk businesses.
- Merchant Account / Acquiring SetupSupport with merchant account applications and acquiring setup at acquirers and PSPs, including for high-risk merchant categories.
Support
How we support businesses in British Virgin Islands
- Regulatory & Licensing01Strategy, applications and regulator engagement for the payments, crypto and investment routes listed above.
- Corporate Structuring02Group architecture, incorporation, substance and governance built around your licences, banking and investors.
- Market Entry & Regulatory Strategy10Market prioritisation, regulatory roadmaps and launch readiness for businesses expanding into new jurisdictions.
Discuss your matter with a senior advisor.
Share a few details about your business and plans. We will come back to arrange a confidential initial conversation.