Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the FSC decision, including banking and payment rails.
Get a forex license in the BVI.
The offshore world's corporate capital licenses its dealers under SIBA: the FSC's Category 1 investment business licence - dealing in investments as agent or as principal - with US$2,200 application and US$3,300 annual fees, Regulatory Code capital calibrated to the model, and the legal infrastructure a thousand funds already trust.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
The BVI in brief
Where offshore finance keeps its law.
The British Virgin Islands license forex and CFD dealing as investment business: the Securities and Investment Business Act 2010 puts dealing in investments in Category 1 of the licence schedule - sub-category A for dealing as agent, sub-category B for dealing as principal - under the Financial Services Commission. The fee mechanics are published in the Financial Services (Fees) Regulations: US$2,200 to apply, US$3,300 on grant and US$3,300 annually. Capital is not a single statutory number: the Regulatory Code sets capital-resources and professional-indemnity requirements calibrated to the category and the risk of the model, and the FSC approves directors and senior officers individually - an architecture closer to a small onshore regulator than to a rubber stamp.
Why dealers still choose Tortola: the BVI is the corporate jurisdiction of the offshore world - the place counterparties, funds and banks already hold BVI vehicles and read BVI law daily. An FSC investment business licence inherits that familiarity: English common law with final appeal to the Privy Council, a commercial court that hedge funds litigate in by choice, no corporate income tax, and a register where a licence still signals a vetted business. The costs are diligence-shaped rather than capital-shaped, and the timeline runs months, not weeks. We build the company, the people file and the Regulatory Code mapping end to end.
FSC Category 1 investment business licence under SIBA 2010 - dealing as agent (A) or principal (B): US$2,200 application, US$3,300 annual, Regulatory Code capital and PII calibrated to the model, directors approved individually.
No corporate income tax; the offshore world's corporate-law standard. Global book only - we pair with onshore licences where retail rules demand.
The two routes
Dealing as principal - or as agent.
One Category 1 licence, two sub-categories: B for the dealing desk running its own book, A for the agency broker executing for clients. We fix the sub-category first. It drives the Regulatory Code maths.
Principal dealing under 1B - or the agency model under 1A.
01 - SUB-CATEGORY B · PRINCIPAL
The dealing desk
Dealing in investments as principal: the market-maker and own-book model under Category 1B. Regulatory Code capital calibrated to the risk actually warehoused, directors approved individually.
Dealing in investments as principal: the market-maker and own-book model under Category 1B. Regulatory Code capital calibrated to the risk actually warehoused, directors approved individually.
- ✓Dealing as principal - own book
- ✓Category 1, sub-category B
- ✓Capital per the Regulatory Code
- ✓Professional indemnity in the stack
- ✓FSC-approved directors and officers
- ✓US$2,200 application · US$3,300 annual
02 - SUB-CATEGORY A · AGENT
The agency modelThe agency broker
Dealing in investments as agent: execution for clients without warehousing risk. The lighter Regulatory Code footprint under Category 1A, with the same FSC stamp and the same corporate infrastructure.
Dealing as agent: client execution without warehouse risk, lighter Code footprint, same stamp. Upgrade path to principal.
- ✓Dealing as agent - client execution
- ✓Category 1, sub-category A
- ✓Lighter capital-resources footprint
- ✓Same approval architecture
- ✓Upgrade path to principal dealing
- ✓Same fee schedule
Costs and timelines are confirmed for your case before any work begins. Fees follow the Financial Services (Fees) Regulations; Regulatory Code capital and PII are calibrated to your model and itemised in your quote.
Why the BVI
The jurisdiction counterparties already know.
The BVI sells familiarity. Its law, courts and vehicles are the offshore default the market reads without translation.
✓
The corporate standard
Hundreds of thousands of BVI companies sit in structures worldwide. A licensed BVI dealer plugs into documentation and diligence the market already runs.The market's default law.
✓
Real law, real courts
English common law, a dedicated commercial court and final appeal to the Privy Council. Disputes here resolve in a forum institutional counterparties choose on purpose.Commercial court, Privy Council.
✓
Published fee mechanics
US$2,200 to apply, US$3,300 on grant and annually. The Fees Regulations put the licence's running cost in writing.US$2.2k + US$3.3k/year.
✓
Calibrated, not flat, capital
The Regulatory Code scales capital resources and PII to the category and model. An agency broker is not priced like a dealing desk.Code scales to model.
✓
No corporate income tax
The BVI levies no corporate income tax, no capital gains tax and no withholding. The fiscal layer is fees, not rates.Fees, not rates.
✓
A vetted register
The FSC approves directors and senior officers individually and polices its register. The licence signals diligence passed, which is what banks buy.People approved one by one.
How it compares
How the BVI differs from other routes.
Numbers next to numbers: the Caribbean's corporate-law heavyweight. Diligence-priced entry, no ring-fenced retail access.
BVI vs other jurisdictions
| Feature |  BVI | Other jurisdictions |
|---|---|---|
| Regime | SIBA 2010 - FSC Category 1 | MiFID desks or offshore |
| Capital | Regulatory Code - model-based | Flat US$50k-2M tiers |
| Legal system | Common law · Privy Council | Varies widely |
| Corporate tax | None | 3-30% spread |
Regime
BVISIBA 2010 - FSC Category 1
Other jurisdictionsMiFID desks or offshore
Capital
BVIRegulatory Code - model-based
Other jurisdictionsFlat US$50k-2M tiers
Legal system
BVICommon law · Privy Council
Other jurisdictionsVaries widely
Corporate tax
BVINone
Other jurisdictions3-30% spread
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| BVI | FSC Category 1 dealing | No corporate income tax | Code capital, vetted people |
 Cayman Islands | CIMA SIB licence | No corporate income tax | CI$100k net worth, CI$10k annual |
 Bahamas | SCB registration + CFD Rules | No corporate income tax | 0.5% retail margin cap, NBP |
 Belize | FSC Trading in Securities | Territorial business tax | US$500k capitalisation |
BVILicense typeFSC Category 1 dealing
TaxationNo corporate income tax
RequirementsCode capital, vetted people
Cayman IslandsLicense typeCIMA SIB licence
TaxationNo corporate income tax
RequirementsCI$100k net worth, CI$10k annual
BahamasLicense typeSCB registration + CFD Rules
TaxationNo corporate income tax
Requirements0.5% retail margin cap, NBP
BelizeLicense typeFSC Trading in Securities
TaxationTerritorial business tax
RequirementsUS$500k capitalisation
Before you apply
Requirements for the BVI licence.Requirements for the licence.
The FSC examines the company, the people and the Regulatory Code mapping in depth. The checklist below is what a passing application contains.
01
BVI company. A business company structured for the licence, with the FSC's fit-and-proper lens on its owners.
02
Category and sub-category fixed. Category 1 dealing, as agent (A) or principal (B), with permissions matching the model.
03
Capital resources. The Regulatory Code computation for your category and risk profile, evidenced and maintained.
04
Professional indemnity insurance. Cover scaled to the business per the Code.
05
Approved people. Directors and senior officers individually approved by the FSC, with track records that survive review.
06
Authorised representative. The statutory local point of contact appointed in the BVI.
07
Business plan. The dealing model, flow economics and financials the FSC can interrogate.
08
Compliance and risk framework. Manuals, monitoring and a named compliance owner proportionate to the model.
09
Client asset arrangements. Segregation and safeguarding designed before launch where client money is held.
10
AML/CFT programme. KYC, screening and reporting under BVI AML law, with audit trails the FSC can inspect.
01
BVI company, fit owners.
02
Sub-category fixed. A or B.
03
Code capital computed.
04
PII scaled to the model.
05
Directors approved individually.
06
Authorised representative.
07
Interrogable business plan.
08
Compliance owner named.
09
Client assets designed.
10
AML with audit trails.
Reflects SIBA 2010, the Regulatory Code and the Financial Services (Fees) Regulations as of 2026.SIBA 2010 + Regulatory Code + Fees Regs, as of 2026.
How it works
From first call to the FSC register.
01
Model and sub-category
Agent or principal, permissions and the Regulatory Code maths. Fixed in writing before any drafting.A or B. Fixed in writing.
02
Company and people
BVI company, capital plan and the directors the FSC approves individually.Approvals prepared.
03
The application file
Business plan, Code mapping, compliance framework. Complete at filing with the US$2,200 fee.Complete, US$2,200 fee.
04
FSC review
Question rounds and people approvals - 4-8 months realistic end to end.4-8 months realistic.
05
Licence and launch
Grant at US$3,300, register entry, banking live. The offshore world's corporate stamp at work.US$3,300 grant, banking on.
Quick facts
RegulatorBVI FSC
FrameworkSIBA 2010
LicenceCategory 1 - dealing
Sub-categoriesA agent · B principal
Application feeUS$2,200
Annual feeUS$3,300
CapitalRegulatory Code - calibrated
Realistic timeline4-8 months
The FSC prices entry in diligence, not capital walls. Arriving with a complete people-and-Code file is the entire game, and our job.
On the ground in the BVI
Run from our Road Town office.
Prifinance - BVI
Road Town · Tortola
Road Town, Tortola, BVI
01
BVI company formation
Incorporation, structure and the corporate layer the FSC expects. Built for the licence from day one.Built for the licence.
02
The FSC file
Business plan, Regulatory Code capital mapping, people approvals and the full dossier. Drafted end to end and defended through the rounds.Code-mapped, defended.
03
People and approvals
Directors and senior officers prepared for individual FSC approval. Track records, references and interview readiness as a dedicated workstream.A dedicated workstream.
04
Counterparty documentation
The BVI-law agreements, banking and liquidity introductions that let the licence convert into working relationships. Sequenced with approval.BVI law, working rails.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
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 forex brokers in the BVI.
No corporate income tax. The fiscal layer is licence fees and payroll, with planning shifted to the owners' level.
No corporate income tax
The BVI levies no tax on corporate profits. The licensed dealer's P&L is a business question, not a computation.P&L keeps itself.
No capital gains or withholding
No CGT, no withholding on dividends, interest or fees. Distributions are transfers, not filings.Transfers, not filings.
Payroll tax on local staff
The BVI's payroll tax applies to local employment. A modest, predictable cost of the substance the licence expects.On local staff only.
Fees as the state's charge
US$3,300 a year plus company fees. The jurisdiction charges through schedules, not rates.Schedules, not rates.
Economic substance rules
BVI substance legislation applies to relevant activities. The licence's own presence expectations do double duty, planned once.Planned once, used twice.
Owner-level planning
Zero local tax moves the modelling to shareholders' jurisdictions. CFC and residency rules above the entity are where outcomes are set.CFC modelled above.
Tax summary
Corporate income taxNone
Capital gains taxNone
Withholding taxesNone
Payroll taxOn local employment
State chargesLicence + company fees
*As of 2026. Owner-level CFC and residency outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: BVI company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
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 live, licensed dealer.
Follow Prifinance
Active across our channels.
BVI · FSC
Launch your forex project in the BVI with expert support.
Full-service assistance - from incorporation to the Category 1 licence, people approvals and ongoing compliance - run through our Road Town office.
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, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The BVI forex licence: the practical answers.
What licence does a forex broker need in the BVI?+
A Category 1 investment business licence - dealing in investments - from the FSC under SIBA 2010: sub-category A for dealing as agent, sub-category B for dealing as principal, with permissions matched to the model.
What does the licence cost?+
Per the Financial Services (Fees) Regulations: US$2,200 application fee, US$3,300 on grant and US$3,300 annual renewal - identical for both sub-categories. The larger budget lines are people, substance and the Regulatory Code capital.
What capital is required?+
There is no single flat number: the Regulatory Code sets capital-resources and professional-indemnity requirements calibrated to the category and the risk of your model. We compute the figure with you before filing, so the number in the plan is the number the FSC expects.
How long does licensing take?+
Realistically 4-8 months end to end, driven by the FSC's individual approval of directors and senior officers and its question rounds - a complete people file is the main speed lever.
Can a BVI licence serve EU, UK or US retail?+
No - ring-fenced retail markets need their own licences. The BVI dealer carries the global book and institutional flow; groups pair it with onshore entities where regulated retail matters, and we structure both ends.
How are BVI dealers taxed?+
There is no corporate income tax, no capital gains tax and no withholding - payroll tax applies to local staff and the state charges through licence and company fees. Owner-level planning is where the modelling happens.
What is the authorised representative?+
A statutory local point of contact between the licensee and the FSC, appointed in the BVI - part of the standing architecture we put in place with the licence.
What substance does the FSC expect?+
A genuinely governed business: approved directors who actually direct, a compliance owner, client-asset arrangements and the presence the economic-substance rules require for relevant activities - designed once to serve both regimes.
BVI or Cayman for a Caribbean dealing licence?+
Sister jurisdictions with different accents: Cayman posts a flat CI$100,000 net-worth floor and CI$10,000 annual fee; the BVI calibrates capital to the model and runs US$3,300 a year. Funds-adjacent groups often follow their administrators; we model both.
Why Prifinance for the BVI?+
A Road Town presence, people files built for individual FSC approval, the Regulatory Code mapping done before filing and both ends of the group - offshore and onshore - structured under one roof.
What licence?+
FSC Category 1 - dealing.
Cost?+
US$2,200 + US$3,300/year.
Capital?+
Code-calibrated, not flat.
How long?+
4-8 months realistic.
EU retail?+
No - global book only.
Taxes?+
None on profits.
Local contact?+
Authorised representative.
Substance?+
Real governance, double duty.
Or Cayman?+
Flat floors vs calibration.
Why you?+
People files that pass.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
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One message away from your BVI forex licence.
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, licence scope, or route fits your business.Free legal opinion: which BVI route 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 licence scope, 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 (FSC) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.