• Corporate FX

Corporate FX British Virgin Islands

Commercial FX Services for Corporate Entities in The British Virgin Island

BVI

British Virgin Islands Currency Solutions

Do you currently hold group corporate entities registered in The British Virgin Islands?

Are you considering registering new corporate entities or structures in BVI?

Do you need to exchange multi-currencies at scale?

Do you require commercial FX rates and pricing?

Do you require FX risk management products, solutions and hedging strategies?

Please reach out for a discussion in the first instance. We can analyse if there is any potential value and improvements we can offer your current practices.

British Virgin Islands Overview and Background

BVI Background

The British Virgin Islands are officially known as the Virgin Islands. The islands are part of a British overseas territory that is located in the Caribbean and east of Puerto Rico. Virgin Island inhabitants are British citizens. Jost Van Dyke, Beef Island, and Virgin Gorda are just a few of the islands in the Virgin Islands.

Since the early 2000s, the British Virgin Islands has been recognised for its growing investment, trade, and financial sectors.  Despite the British Virgin Islands being an important part international financial affairs, the population sits at just over 30,000.

British Virgin Islands Financial Services Regulation

BVI Regulation

Financial services in the British Virgin Islands are highly regulated. The Financial Services Commission operates  an ethos of vigilance, integrity, and accountability. It was first established in December 2001 as a result of the Financial Services Commission Act.

The Financial Services Commission regulates any activities that fall under the umbrella of financial services, such as insurance, fiduciary services, investment business, and company registrations. If you are planning to register a company in the British Virgin Islands, this will need to be arranged through the Financial Services Commission.

It is always best to seek expert advice, support and conduct lots of background research. We are able to support all aspects of FX dealing and FX risk management. It is certainly best to seek specific expert advice in all other areas of business and finance.

How to Register a Company in the British Virgin Islands

BVI Company Registration

There are lots of advantages to registering a company or corporate group in the British Virgin Islands, particularly the low tax regime. Offshore companies can be established by non-residents.

To register a company in the British Virgin Islands, you must have one director, one shareholder, and one secretary.

The next steps then include:

1. Reserve a company name – Reserve your company name with the BVI Registry. The BVI Commercial Registry will conduct a search to check that the name is unique.

2. Appoint a registered agent – All new companies registration need to appoint a registered agent to incorporate the business.

3. Open a bank account – A bank account is mandatory, and this must be initiated before the company documents are created.

4. Draft important documents –  Articles of Association and details pertaining to the founders of the business and the registered agent.

5. Submit your documents – Submission of important documents to the Companies Registry.

It can take anywhere from a few days to a few weeks to open a company in the British Virgin Islands.

How to Open a Bank Account in the British Virgin Islands

BVI Bank Accounts

To register a corporate entity in the British Virgin Islands, it is necessary to also open a bank account. It takes anywhere from seven to ten days to open a bank account. Online options are sometimes available, depending on the bank.

To open a bank account, often the below information will be required:

  • Proof of company registration.
  • Information about the shareholders (including their identification documents).
  • Signature specimens.

Some banks may require additional information.

GSNFX Support

FX Solutions

GSNFX’s clients have access to:

  • Make Payments in up to 160 currencies.
  • Buy and Sell Currencies at Commercial FX rates.
  • FX risk management solutions.

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