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Open a Crypto Company in BVI
Updated on Thursday 23rd June 2022
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An increasing number of companies are interested in digital innovation, as well as the use of digital assets. These cryptocurrencies can be used both for investment and for transactional purposes.
Opening a crypto company in BVI can be a good choice for tech enthusiast entrepreneurs, given the locations’ openness towards foreign investment, as well as these types of digital assets.
Our BVI company formation agents discuss the need for a BVI crypto license and answer a number of other questions below.
If you need assistance for incorporation, as well as for opening a bank account in BVI, our team is ready to assist you.
Can foreign investors open a crypto company in BVI?
Yes. Full foreign ownership is permitted in the British Virgin Islands and there are no residency requirements for foreign investors.
Only one investor can open a crypto company in BVI and he does not need to reside in the Islands.
For company formation, entrepreneurs will need to:
- Choose the business form: most commonly this can be the IBC or a limited company;
- Choose a business name: the registered name can be the same as the trade name, however, the registered one needs to be unique;
- Register the business: complete the registration process with the BVI Registry of Corporate Affairs;
- Start trading: once the business is set up, the company can begin its activities related to digital currencies.
Our company formation agents can give you more details about each of these steps.
Is BVI a good location to open a crypto company?
Yes, the British Virgin Islands are a good location to base a company involved in blockchain and cryptocurrency.
Investors who open a crypto company in BVI benefit from a simple incorporation process and straightforward requirements. As you can see below, the regulations are simple ones even when discussing a BVI crypto license.
However, the most important advantage for investors is that businesses incorporated in BVI are not subject to corporate tax, capital gains tax or wealth tax.
This particular trait makes the British Virgin Islands a suitable location to open a crypto company, as well as other types of businesses.
Do you need a BVI crypto license?
The Financial Services Commission has recognized Bitcoin and Ethereum focused funds. This means that initial coin offerings and initial token offerings are also practiced in this jurisdiction, with a note that the fundraising for these can be subject to regulation.
Although recognized in this manner, there is no present need to apply for a BVI crypto license.
Crypto statistics
The popularity of cryptocurrencies is perhaps best understood when looking at the evolution of Bitcoin, which remains the most popular digital currency. Other data shows the following trends in 2021:
- - in December 2021 there were 295 million crypto owners in the world;
- - the total global number of Bitcoin owners was estimated at 176 million and the total number of Ethereum owners was estimated at 23 million worldwide;
- - the overall crypto adoption rate in the second half of 2021 was 37.5%, 15% higher than in the same analyzed period in 2020.
If you want to open a digital currency company, the British Virgin Islands can be a good choice, given the fact that there is no regulation via a BVI crypto license.
Contact us if you want to open a crypto company in BVI.
Our team can help you throughout the incorporation process, as well as with other services such as those suited for those investors interested in acquiring residency and citizenship.
Meet us in Road Town
Call us now at +230 5252 6703 to set up an appointment with our business consultants in the British Virgin Islands. Alternatively you can incorporate your company without traveling to the British Virgin Islands.
As a BridgeWest client, you will beneficiate from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in the British Virgin Islands.
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