Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right registration categories and leads the file all the way to the compliant launch, including banking and payment rails.
Get a crypto license in the BVI.
The BVI has a real regime now - the Virtual Assets Service Providers Act 2022, in force since 1 February 2023 and run by the FSC. You register by category, appoint a BVI authorised representative, and run AML to the island's code - all on a business company that pays 0% corporate tax. We build the company, the registration and the AML file as one.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
BVI in brief
From open water to a registration regime.
For a long time the BVI meant a business company and no dedicated crypto oversight. The Virtual Assets Service Providers Act 2022 closed that chapter: since 1 February 2023, anyone carrying on a virtual-assets service in or from the BVI must register with the Financial Services Commission, and the firms already operating had until 31 July 2023 to apply or stop. It is a registration regime rather than a heavy licensing one - lighter than the EU, but a real gate with fit-and-proper checks, AML duties and an FSC that says no.
What you build is a BVI Business Company registered with the FSC under one or more virtual-asset categories, supported by a BVI authorised representative, a compliance officer and a money-laundering reporting officer, and a business plan the FSC actually reads - expertise, scope, outsourcing and three years of financial projections. The reward is a recognised offshore regime sitting on a 0% tax base: no corporate income tax, no capital gains, no withholding. We assemble the company, the registration file and the AML programme together.
A real regime now: the VASP Act 2022, run by the FSC, in force since 1 February 2023.
You build a BVI Business Company, an FSC registration by category and an authorised representative - all on a 0% tax base.
The registration categories
Register for the activities you actually run.
The VASP Act works by registration under one or more categories, not a single blanket licence. You register for the virtual-asset activities the business genuinely carries on - and the FSC assesses each against your plan and people.
Registration by category - exchange, custody, broader service. You register for what the business does.
01 - VIRTUAL ASSETS EXCHANGE
Operating an exchange
Running a venue where clients trade virtual assets - fiat-to-crypto and crypto-to-crypto - with order handling and settlement. The category most trading projects register under.
Running a venue where clients trade virtual assets - fiat-to-crypto and crypto-to-crypto - with order handling and settlement. The category most trading projects register under.
- ✓Order handling, matching and settlement
- ✓Fit-and-proper directors and officers
- ✓Three-year financial projections in the plan
02 - VIRTUAL ASSETS CUSTODY
Custody service
Safekeeping virtual assets or the means of access to them - custodial wallets, key management and cold storage held for clients.
No fixed minimum capital; the FSC assesses adequacy. Government and FSC fees apply.
- ✓Custody, key management, cold storage
- ✓Safeguarding and controls to FSC standard
- ✓Insurance considered against the risk profile
03 - VIRTUAL ASSETS SERVICE
Broader virtual-asset service
The wider category the Act uses for transfer, brokering and participation in financial services around a virtual asset - registered where the model reaches beyond a plain exchange.
The wider category the Act uses for transfer, brokering and participation in financial services around a virtual asset - registered where the model reaches beyond a plain exchange.
- ✓Transfer, brokering, related services
- ✓Registered alongside exchange or custody
- ✓Scoped to what the business truly does
There is no fixed statutory minimum capital - the FSC assesses adequate financial resources against your business plan and projections. FSC application and annual fees apply and are confirmed for your case before any work begins.
Why the BVI
A registration regime on a 0% base.
Real oversight without the weight of a full licensing regime, wrapped in the world's most familiar offshore company - and no corporate tax at all.
✓
0% corporate tax
The BVI levies no corporate income tax, no capital gains tax and no withholding. The activity runs untaxed at the BVI level - only annual government and FSC fees apply, and we lay them out up front.No income, gains or withholding tax.
✓
A registration, not a licence marathon
The VASP Act registers you by category rather than putting you through a heavy licensing process. Real fit-and-proper and AML checks, but a lighter path than the EU - proportionate to most models.Real checks, lighter than the EU.
✓
The world's default company
The BVI Business Company is the most widely used offshore vehicle on earth. Counterparties and banks recognise it instantly, which is half the battle in onboarding.BVI BC - recognised everywhere.
✓
An authorised representative keeps it lean
A BVI authorised representative is your regulated link to the FSC - so you get a real local footprint without relocating a team to the islands.Local footprint, no relocation.
✓
Established law and courts
BVI corporate law and its Commercial Court are trusted across cross-border finance - the legal ground under the structure is deep and predictable.Trusted courts and corporate law.
✓
The honest structure wins
Registration is granted on the file - the people, the plan and the AML programme. We build all three to the standard the FSC and correspondent banks read as legitimacy.Granted on the file, built to standard.
How it compares
How the BVI differs from other routes.
The BVI is the light-touch registration play on a 0% base - real oversight, familiar vehicle, no corporate tax. The honest comparison is below.
BVI vs other jurisdictions
| Feature |  BVI | Other jurisdictions |
|---|---|---|
| Model today | FSC registration by category | From none to full licensing |
| Corporate tax | 0% | Worldwide, 9-30% |
| Local footprint | Authorised representative | From none to resident teams |
| Setup | From ~4-6 months | Weeks to years |
Model today
BVIFSC registration by category
Other jurisdictionsFrom none to full licensing
Corporate tax
BVI0%
Other jurisdictionsWorldwide, 9-30%
Local footprint
BVIAuthorised representative
Other jurisdictionsFrom none to resident teams
Setup
BVIFrom ~4-6 months
Other jurisdictionsWeeks to years
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| BVI | VASP registration by category (FSC) | 0% corporate | Authorised representative, ~4-6 months |
 Cayman | VASP registration / licence (CIMA) | 0% corporate | Local presence, ~4-6 months |
 Seychelles | VASP Act - four activities (FSA) | 1.5% local · territorial | Resident director + office, ~6 months |
 Panama | No dedicated law - company route | Territorial - 0% foreign | AML practice; framework pending |
BVILicense typeVASP registration by category (FSC)
Taxation0% corporate
RequirementsAuthorised representative, ~4-6 months
CaymanLicense typeVASP registration / licence (CIMA)
Taxation0% corporate
RequirementsLocal presence, ~4-6 months
SeychellesLicense typeVASP Act - four activities (FSA)
Taxation1.5% local · territorial
RequirementsResident director + office, ~6 months
PanamaLicense typeNo dedicated law - company route
TaxationTerritorial - 0% foreign
RequirementsAML practice; framework pending
Doing it properly
What the FSC registration file contains.What the FSC file contains.
The Act is specific about the company, the people and the plan. The checklist below is what we build and file - all of it assessed, none of it decorative.
01
BVI Business Company - incorporated under the BVI Business Companies Act with clean governance and ownership to the UBOs.
02
FSC VASP registration - under one or more virtual-asset categories, matched to what the business actually does.
03
Authorised representative in the BVI - the regulated local link to the Commission.
04
Fit-and-proper directors, senior officers, shareholders and beneficial owners - identified and vetted.
05
A business plan with real substance - expertise, nature and scope, marketing, human resources, outsourcing and three-year financial projections.
06
A compliance officer and a money-laundering reporting officer (MLRO).
07
An AML/CFT programme to the BVI regulations and code - KYC, monitoring, reporting and records.
08
Adequate financial resources - no fixed statutory minimum, assessed by the FSC against the plan.
09
An auditor appointed, with accounts kept to standard.
10
Economic substance addressed where the Economic Substance Act applies to the activity.
01
BVI Business Company.
02
FSC VASP registration by category.
03
BVI authorised representative.
04
Fit-and-proper directors and UBOs.
05
Business plan + 3-year projections.
06
Compliance officer and MLRO.
07
AML/CFT programme to BVI code.
08
Adequate financial resources.
09
Auditor appointed.
10
Economic substance where it applies.
Reflects the Virtual Assets Service Providers Act 2022 and FSC guidance as of 2026. It is a registration regime - real checks, lighter than a full EU licence.VASP Act 2022 + FSC guidance, as of 2026.
How it works
From first call to an FSC registration.
01
Strategy and scope
Which categories you need, the honest timeline and the substance plan - fixed in writing before anything incorporates.Categories, timeline, substance - in writing.
02
The Business Company
A BVI Business Company, incorporated with clean governance and ownership transparent to the UBOs.BVI BC, clean governance.
03
The FSC file
The registration application, the business plan and projections, the authorised representative and the AML functionaries.Plan, projections, rep, AML.
04
AML and banking
The compliance officer, the MLRO and the AML programme in place; accounts or a payment provider arranged on disclosure.Officer, MLRO, accounts.
05
Registration and run
The FSC registers the VASP; the ongoing AML and reporting duties keep it clean from there.FSC registers; duties keep it clean.
Quick facts
RegulatorFSC (BVI)
LawVASP Act 2022
ModelRegistration by category
VehicleBVI Business Company
Local presenceAuthorised representative
Corporate tax0%
Minimum capitalNo fixed statutory figure
SetupFrom ~4-6 months
A registration regime, not a paperwork exercise - fit-and-proper and AML checks are real. The upside is a recognised vehicle, an FSC registration and a 0% tax base.
On the ground for the BVI
Run from our Dubai desk, filed on the islands.
Prifinance - BVI desk
Run from our Dubai office
33 Level, Al Saqr Business Tower, Dubai, UAE
01
BVI Business Company
The company the registration sits on - incorporated clean, owned transparently to the UBOs.The vehicle, built clean.
02
The FSC registration
The right categories, the business plan and the three-year projections, assembled the way the Commission expects to read them.Categories, plan, projections.
03
Authorised representative and AML
The local authorised representative, the compliance officer and the MLRO - the people the regime requires, arranged.Authorised rep, officer, MLRO.
04
Banking and rails
Accounts or a licensed payment provider, arranged on full disclosure with the registration doing the persuading.Arranged on full disclosure.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in the BVI.
The BVI is a genuine zero on direct tax - the appeal is not a low rate but the absence of one, paired with a recognised, registered vehicle.
Corporate income tax: 0%
The BVI levies no corporate income tax. Profits from the virtual-asset activity are not taxed at the BVI level - the company runs on annual fees, not a tax bill.No BVI income tax.
No capital gains tax
Gains on virtual assets or any other property carry no BVI capital-gains charge - there is simply no such tax in the territory.No capital-gains charge.
No withholding tax
Dividends, interest and royalties paid out carry no BVI withholding - distribution is not taxed at source here.Distributions untaxed at source.
Only government and FSC fees
The real running cost is the annual company fee and the FSC fees, not tax. We set them out in the plan so there are no surprises.Government + FSC, not tax.
Economic substance where it applies
The Economic Substance Act can reach certain activities - we assess whether it bites on your model and, if it does, build the substance to meet it.Economic Substance Act.
Home-country tax still matters
Zero at the BVI level does not switch off tax where owners live and manage. We flag the residence and controlled-company questions so the structure is not a surprise at home.Owners' residence still counts.
Tax summary
Corporate income tax0%
Capital gains taxNone
Withholding taxNone
Crypto-specific taxNone - general position
Substance basisEconomic Substance Act
Real running costGovernment + FSC fees
*As of 2026. A 0% BVI base does not remove home-country tax on owners - we model that alongside the structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the FSC file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: the BVI Business Company, the FSC registration file and business plan, the AML/KYC policy set and the authorised-representative arrangements. His document sets are the reason reviews finish cleanly.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a clean, registered business.
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BVI · VASP Act 2022
Launch your crypto project in the BVI with expert support.
Full-service setup - the Business Company, the FSC registration and the AML file, assembled as one.
Get a consultation →Free legal opinion
Is the BVI the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, category or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The BVI crypto registration, answered honestly.
Is there a real crypto regime in the BVI?+
Yes - the Virtual Assets Service Providers Act 2022, in force since 1 February 2023 and run by the FSC. The old «offshore company, no oversight» setup is gone; carrying on a virtual-assets service in or from the BVI now needs FSC registration.
Is it a licence or a registration?+
A registration by category, which is lighter than a full licensing regime - but not a rubber stamp. There are fit-and-proper checks, an AML programme and an FSC that can and does refuse. Real, just proportionate.
What categories can I register under?+
The Act works by category - operating an exchange, providing a custody service, and the broader virtual-assets service for transfer and related activity. You register for what the business genuinely does, one or more at a time.
Do I need people in the BVI?+
You need a BVI authorised representative - your regulated link to the FSC - plus a compliance officer and an MLRO. You get a real local footprint without relocating a team to the islands, and we arrange it.
What does it cost?+
There is no fixed statutory minimum capital; the FSC assesses adequate financial resources against your plan. The real running cost is the annual company fee and the FSC fees, which we set out for your case up front.
How is it taxed?+
At the BVI level, not at all - no corporate income tax, no capital gains, no withholding. Zero. But that does not remove tax where the owners live and manage, and we model that alongside.
How long does it take?+
Realistically a few months once the file is complete - a well-built application, with the plan, projections, people and AML in order, is what keeps the FSC review on track rather than in queries.
BVI, Cayman or Seychelles?+
All three are offshore, registered routes. BVI and Cayman are 0% and the most familiar vehicles; Seychelles adds a concessionary 1.5% tax and a slightly heavier substance. Model, banking and comfort decide - we structure any of them.
Why the BVI with you?+
Because the registration turns on the file - the business plan, the people and the AML programme. We build BVI VASP files to the standard the FSC and the banks read, which is what makes the registration usable rather than just granted.
A real regime?+
Yes - VASP Act 2022, run by the FSC.
Licence or registration?+
Registration by category - lighter, still real.
Which categories?+
Exchange, custody, broader service.
People in BVI?+
Authorised representative + officer + MLRO.
Cost?+
No fixed capital; government + FSC fees.
Tax?+
0% at BVI level - home tax still applies.
How long?+
A few months once the file is complete.
Vs Cayman / Seychelles?+
BVI 0% and familiar; Seychelles 1.5% + more substance.
Why with us?+
File built to FSC and bank standard.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Google
Start today
One message away from your BVI registration.
Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, category or route fits your business.Free legal opinion: which BVI category fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right category, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the BVI Financial Services Commission or the Government of the British Virgin Islands. Registrations are granted by, and obtained directly from, the competent authority.