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Securities Dealer License in BVI

Updated on Friday 11th October 2019

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Security dealers specialize in assisting companies in the issuance of new securities and/or in trading in new or outstanding securities in their own names. The company, or individual, who wishes to buy and sell securities in the British Virgin Islands, needs to obtain a special license for this purpose.
 
The securities dealer license in the BVI is issued by the Financial Services Commission and the applicant needs to comply with the general licensing criteria. Some of the main laws of interest for this purpose are the 2009 Regulatory Code (Part II, Division 1) and the BVI Securities Investment Business Act 2010 (SIBA).
 
Our team of BVI company formation agents can help investors who are interested in opening a company that deals in securities. Our team is able to assist investors and individuals who are willing to apply for the securities dealer license and handle all of the steps, as required by the regulation in force. 
 

General licensing requirements from the Financial Services Commission

 
Investors who are interested in BVI company incorporation for the purpose of starting a securities dealing company will need to obtain a special license. This is applied for with the Financial Services Commission and the general supporting documents are listed below:
 
  • - the business plan: it must state the organizational structure as well as the ownership structure chart and the manner in which the company will meet the corporate governance requirements.
  • - form: the filled-in form for each director, authorized agents, compliance officer and other individuals of interest.
  • - proof of physical presence: the company undertakes to establish its physical presence in the BVI within two years from the date the license is issued.
  • - fee payment: proof of payment for the non-refundable fee; this is mandatory and the application will not be taken into consideration without it.
 
Investors can schedule an appointment with officials from the Financial Services Commission prior to submitting the application. Our team of BVI company set up agents can also provide investors with an initial consultation before submitting the application or scheduling the consultation with the Commission. We recommend this step in order to make sure that you present all of the needed documents and the discussion with the Commission will not be hindered by an incomplete application. 
 
The licensing process can include several steps and it will be especially lengthy if the documentation is not complete. When making the decision, the Commission will look at the manner in which the applicant complies with the relevant acts and laws as well as is if issuing the license is not against the public interest. In general, the Commission will look to see if the applicant is “fit and proper” in order to receive the license.
 

Conditions as per the Securities Investment Business Act

 
The BVI Securities Investment Business Act is one of the acts of interest for any investor looking to obtain the securities dealer license. Below, our agents who specialize in British Virgin Islands company formation list some of its main provisions:
 
  1. Public securities: part II of the BIBA governs this activity the international BVI company is not restricted from offering securities outside of the territory. 
  2. Market abuse: a special regime is to be followed so as, for example, securities may not be price-affected and insider dealing may not occur.
  3. Management: the directors and the senior offices of a licensed company are to be appointed only with the prior written consent of the Financial Services Commission.
  4. Applicability: the provisions included in SIBA apply to BVI companies that conduct investment business outside the BVI and in the BVI and to non-BVI companies that engage in activities within the BVI. 
 
One of our agents can provide investors with more comprehensive information about the licensing for investment businesses and the entire scope of the Securities Investment Business Act.
 
The British Virgin Islands have numerous advantages for investors who are interested in company formation. According to the Financial Services Commission, the following data was available as part of the quarterly statistical bulletin: 
 
  • - 7,214: the total number of business companies incorporated in Q1 2019;
  • - 1,133: the number of private trust companies registered as of the end of March 2019;
  • - 61: the total number of registrations as of the end of March 2019 for foreign companies.
 
Contact our BVI company formation specialists for more details about obtaining the securities dealer license and for complete company incorporation services.
 

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