When it comes to setting up a business in any tax haven, BVI is one of the most accessible and most perfect destinations to start with.
Offshoring is one of the best means to multiply your business opportunities and earn higher returns. The trend of offshoring began in the late 1970s, which boosted the overall economy. Today, the government of numerous nations have accepted the concept of offshore that allows them to generate substantial revenue profits.
If you are dealing with investments and looking forward to safeguarding the same or planning to establish yourself as an offshore forex broker, you should go for BVI offshoring.
However, before we proceed, let's get a brief note on Forex.
Offshore Forex Trading: The New Route to Higher Investments
The forex exchange market is a global centralized or over-the-counter market for the trading of currencies. It holds all aspects of buying, selling and exchanging currencies at the current or determined prices. BVI has been a perfect destination for offshore investments, and thus, becomes a viable platform for forex trading.
In a simple sense, forex trading is all about converting one currency into another. Today, it has become one of the most actively traded markets globally, with an average of $5 trillion in trading volume, thus creating numerous opportunities for offshore forex brokers.
Here’s a guide on the Asset and Wealth Management Offshore Company in BVI, which will give you a better idea.
The amount of currency that gets converted makes price movements in the market. Therefore, forex markets are desirable to traders as they can earn higher profits, backed by higher risk.
There are three different types of the forex market, which are:
- Spot forex market
- Forward forex market
- Future forex market
Why the British Virgin Islands?
It is one of the leading offshore destinations that allows flexible corporate structures to come and establish themselves in a safe zone with a lower cost. As per the BVI Companies Act 2004, a business investor can incorporate different companies. A few of them are listed below:
- Company limited by shares
- Restricted purpose company
- Segregated portfolio company
- Company limited by guarantee
- Unlimited company
The British Virgin Islands Financial Services Commission (BVI SFC) is one of the regulatory bodies that govern, regulate, supervise and inspects financial services.
The jurisdiction provides numerous flexible regulations to business investors. The customary units are managed with high-end confidentiality and security.
To get started, one needs to obtain a BVI Forex license.
How to Obtain British Virgin Islands Forex License?
An investor has to go through the following steps to start with a forex business license.
- Incorporate an offshore entity
The first and foremost task lined up in the process is to incorporate an offshore entity. Setting up a corporate unit can be done under multiple forms like incorporating a sole proprietorship company, or even it can be a limited liability.
When it comes to offshore destinations, most business owners prefer proceeding ahead with an IBC (International Business Company) by getting in touch with a professional expert.
Make sure to keep the following documents handy to incorporate one:
- Filed application form
- Identity proof of the business shareholders
- Address proof of the business shareholders
- Blueprint of the business
- Memorandum and articles of association
- Open an offshore bank account
Once the company gets incorporated, the next move is to open an offshore bank account to deal with the trading process.
The business owners/investors have the flexibility to open an offshore corporate bank account either in the same jurisdiction where the business entity has been incorporated or even a different location.
Here's a list of the most popular offshore destinations that you can focus on.
Last but not least, after the company gets incorporated, an offshore forex license is to be obtained by submitting the relevant company details and the license fee to the appropriate authorities.
Once the overall steps mentioned above get complete, it will be easy for you to deal with the forex brokerage. Setting up an offshore company for forex trading is one of the best moves that you can make to enter the international market and deal with the proceedings.
Are you wondering how to proceed ahead?
Well, in that case, we are here to guide you.
Business Setup Worldwide is one of the top business consultants in the UAE who has been helping business minds to unlock their potential and incorporate their business roots globally.
Since inception, we have been helping our esteemed clients to deal with their business processes at ease. So, by the time you deal with your business strategies, let us handle your business needs at ease.
To know more about how to proceed, feel free to get in touch with our experts-we'd be glad to assist!