BVILicenses

Licenses are granted by the BVI Financial Services Commission (BVIFSC) under the Virtual Assets Service Providers Act of 2022. There are a number of categories of licenses available depending on the services to be provided.

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View the featuresof the particular license category in more detail:

Feature/Category

VASP License

VASP Applicant Seeking to provide: VASP Applicant not providing Virtual Assets Custody Service or Operating Virtual

VASP CUSTODY License

VASP Applicant Seeking to provide: – Virtual Assets Custody Service – Virtual Assets Exchange

Type of company required to be eligible

A company need to be incorporated in BVI

A company need to be incorporated in BVI

Minimum paid-up

statutory capital

Up to 1,000,000 USD, the applicant must demonstrate that it has sufficient paid – up capital to match the nature of its operations.

Up to 1,000,000 USD, the applicant must demonstrate that it has sufficient paid – up capital to match the nature of its operations.

Staff qualification
  • At least 2 directors fit and proper individuals
  • 1 senior officer fit and proper
  • 1 person with a significant or controlling interest in the VASP fit and proper (not a director or shareholder)
  • Local Office
  • Authorized Representative (local)
  • Compliance Officer

Audited annual financial statements must be submitted to the BVIFSC, Pi Insurance
  • At least 2 directors fit and proper individuals
  • 1 senior officer fit and proper
  • 1 person with a significant or controlling interest in the VASP fit and proper (not a director or shareholder)
  • Local Office
  • Authorized Representative (local)
  • Compliance Officer

Audited annual financial statements must be submitted to the BVIFSC, Pi Insurance

Timeframe

As regards the timeframe for obtaining the license, a completed application is normally decided upon BVIFSC approval within 6 -8 months from the date of a completed submission.

As regards the timeframe for obtaining the license, a completed application is normally decided upon BVIFSC approval within 6 -8 months from the date of a completed submission.

GFSC Global can offer as wellthe following services:

  1. Opening of operational and clients bank accounts (worldwide).
  2. Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
  3. Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit
  4. Provide outsourced Compliance & AML Support services
  5. Provide outsourced Risk Management services
  6. Assistance with finding local premises
  7. Assistance with Trademark & Brand Name registration
  8. Provide in-house trainings/seminars
  9. Provide Legal Opinions
  10. Provide DPO & GDPR Advisory services


    Our professional fees for the above-mentioned services depend on the combination of services chosen and are available upon request.

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"*" indicates required fields

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We recommend that you always check your spam/junk folder for legitimate emails that have been sent there by mistake and add “corporate@gfscglobal.com” to your White List or Safe Sender List.