The British Virgin Islands (BVI) is one of the prestigious offshore tax havens that gets counted when it comes to offshore business investment. A profitable business destination that turns out to be a famous ground for the forex trading business. Located to the east of Puerto Rico, BVI offers an established and suitable business framework to provide feasible financial solutions.
The British Virgin Islands Financial Services Commission (BVI SFC) is the regulatory body that governs, regulates, supervises and inspects the financial services. The forex market has been growing globally and stands decentralized that deals with the trade of worldwide currencies. The BVI is a perfect destination to deal with the forex business. If you are looking forward to earning higher returns in any of the popular tax-haven countries, BVI is a perfect move. This guide highlights the essentials that one should know before investing in an offshore forex business.
The forex market is a perfect ground that deals with the exchange of foreign currencies. A forex broker business is involved in the trading process of multi-national currencies, shares, indices and commodities. According to a recent report, there was more than $1.5 trillion in daily forex trading volume.
Today, forex market trends to be one of the most liquid assets at a global level as they deal with the spot cash, and also derivatives market, and gets involved in the proceeding of offering forwards, futures, options and currency swaps. Currency trading gets conducted electronically, that gives the feasibility to conduct it overseas at any point in time.
Since the concept of forex trading has been spreading massively at a global level, the British Virgin Islands (BVI) has opened its arms for the business investors who are looking forward to investing in the same.
The jurisdiction is appealing in Forex Brokerage Company as it provides numerous flexible regulations to the business investors. Additionally, business investors prefer to set up an offshore forex trading business in the BVI due to high-end confidentiality and security.
To obtain a forex trading license in the BVI, one has to go through the following steps.
The first move is to incorporate an offshore business company; ideally, an International Business Company referred to as IBC. The essential steps include the submission of essential business documents that goes under strict verification by the government authorities. The set includes:
Multiple corporate business structures can be incorporated in the British Virgin Islands. To know more, go through A Guide on BVI Company Types that will help you to gain more insights.
Once the offshore business gets incorporated, the next call is to proceed with an offshore bank account. A business investor can gain multiple benefits by opening an offshore bank account as it allows them to deal with international trading at ease.
To know more, follow our guide on the Advantages of Offshore Banking, wherein you will get an exposure to the benefits that you can deal with.
When it comes to forex trading business, it becomes mandatory to set up a local/physical office, which can be quickly done with a minimum amount of business capital.
Once the physical entity gets incorporated, another application form for the forex license needs to bee submitted. A minimal amount needs to be paid accordingly once registered.
Incorporating an offshore business in the BVI is one of the profitable moves you can deal with to earn high returns on the investments made. Few of the benefits that one can derive involves:
Apart from the ones mentioned above, there are multiple benefits that you can enjoy by incorporating an offshore business in the BVI. Have a look at the top ten benefits of offshore company registration in the British Virgin Islands.
Incorporating an offshore business entity for forex trading business involves numerous legal moves that need to be sorted sequentially.
At Business Setup Worldwide, we take care of the company incorporation process at a global level. Our business advisors are well-versed with the process and hold years of industry experience to provide customized solutions.
If you are willing to take a step ahead to get your forex broker license, feel free to have a word with our business experts. Contact us today-we’d be glad to assist!