How to Obtain a Crypto License in the British Virgin Islands (BVI) – Step-by-Step Guide

Applying For a Crypto License in BVI – Key Takeaways

  • One of the few offshore jurisdictions with a full regulatory framework for crypto
  • Crypto legislated under the Virtual Assets Service Providers Act, 2022 (VASP Act)
  • Share capital based on operational expenses
  • Digital assets regulated by the BVI Financial Services Commission (FSC)
  • Major exchanges like Kraken, Huobi, and BitFinex are licensed in BVI

How to Apply for a Crypto License in BVI?

How to Obtain a BVI Crypto License

  1. Register a BVI Business Company (BC) with the BVI Financial Services Commission (FSC).
  2. Appoint a minimum of one director — corporate or individual, with no residency requirement.
  3. Prepare a comprehensive business plan outlining the scope of virtual asset services to be offered.
  4. Demonstrate adequate cybersecurity protocols and secure digital wallet solutions.
  5. Establish robust AML (Anti-Money Laundering) and KYC (Know Your Customer) policies compliant with BVI regulations.
  6. Secure a registered office and appoint a licensed BVI registered agent.
  7. Submit audited financial projections and proof of sufficient capital to sustain operations.
  8. Complete and file the Virtual Asset Service Provider (VASP) license application with supporting documents to the FSC.

Atomiq Consulting – Your Partner for Cryptocurrency / Virtual Currency Licensing & Consultation

Obtaining a virtual currency license in BVI has never been easier with Atomiq Consulting at your side. Our team of experienced consultants will gladly assist your cryptocurrency exchange with navigating the ins and outs of BVI regulation.

Why BVI?

Obtaining a cryptocurrency license in the British Virgin Islands (BVI) offers significant advantages for businesses in the digital asset sector. The BVI provides a favorable regulatory environment, with the Virtual Assets Service Providers (VASP) Act of 2022 establishing a clear framework for crypto-related activities. This includes services such as exchanges, custody solutions, and token issuance. The jurisdiction’s commitment to aligning with international standards on anti-money laundering (AML) and counter-terrorism financing (CTF) enhances the credibility of licensed entities, facilitating partnerships with global financial institutions and access to international markets. In addition to regulatory benefits, the BVI offers a tax-neutral environment, exempting companies from income tax, capital gains tax, and dividend tax. This allows crypto businesses to maximize profitability and reinvest earnings into growth initiatives. The BVI’s streamlined company formation process, absence of residency requirements for directors or shareholders, and strong privacy protections make it an attractive jurisdiction for entrepreneurs seeking to establish or expand their presence in the cryptocurrency industry.

Interested in Obtaining a Cryptocurrency License in BVI? Contact us Today!

Our team of seasoned consultants remain at your disposal to discuss the licensing process in BVI in more detail. To discuss, fees, regulatory requirements and address any other questions, don’t hesitate to contact our team of license specialists today!

    BVI Crypto FAQ

    What is a BVI crypto license and who needs one?

    A BVI crypto license, officially known as the Virtual Asset Service Provider (VASP) license, is required for companies operating in the British Virgin Islands that provide services such as exchanging virtual assets, offering custodial wallets, or facilitating crypto transactions. Any business dealing in digital assets must obtain this license to remain compliant with BVI law.

    How long does it take to obtain a crypto license in the BVI?

    The process to secure a BVI VASP license typically takes between 8 to 12 weeks, depending on the completeness of the application, responsiveness of the applicant, and due diligence conducted by the BVI Financial Services Commission.

    What are the capital requirements for a BVI crypto license?

    While there is no fixed minimum capital requirement publicly listed, applicants must demonstrate they have sufficient financial resources to operate securely, meet compliance obligations, and protect client funds. Financial projections are a key part of the application process.

    Can foreign nationals apply for a crypto license in the BVI?

    Yes, foreign nationals and companies can apply for a BVI crypto license. There are no residency requirements for shareholders or directors, but the company must appoint a licensed local registered agent and maintain a registered office in the BVI.

    What compliance obligations come with a BVI VASP license?

    License holders must comply with the BVI’s Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations. This includes implementing KYC procedures, maintaining transaction records, submitting periodic reports, and undergoing audits or regulatory inspections as required.



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