Cryptocurrency Offshore License: Basic Information
The blockchain technology that is used to support e-money transactions has several applications in the realm of business. Businesses and investors alike are searching for new ways to take advantage of the opportunities offered by emerging technologies and new payment methods. Alongside its role in monetary affairs, the blockchain can be used to record and store contracts, track and prove intellectual property, and more. FinTech, ICO, startup, insurtech, and smart contracts are no longer buzzwords, but the groundwork on which the future will be built.
Progressive governments are doing their best to create the legal framework that will attract crypto-adjacent projects and foster the formation of a booming digital economy. For instance, the government of the British Virgin Islands (BVI) is working diligently to turn the former Dutch colony into a haven for crypto activity.
Advantages of Receiving Blockchain Permit in Offshores
Undeniably, there are numerous benefits that come with launching a crypto business in one of the offshore jurisdictions. They include:
- Laxer taxation policies;
- Crypto-friendly governments;
- Solid legal framework;
- Tech-savvy local workforce.
Seeking Help for Crypto License in Offshores
Usually, a professional advisory/support service firm has to be involved. A business like that usually carries out various tasks that help the other company receive a blockchain permit in offshores in the swiftest fashion possible. This type of multi-faceted service usually puts their legal team at the forefront because an experienced enough team of attorneys can help any client understand the legal, regulatory, and monetary difficulties that might arise when dealing with offshores. Such companies usually help people:
- Establish crypto companies or launch any other digital money-related projects;
- Structure, finance, and properly operate FinTech and blockchain projects;
- Plan token sales and create ICOs from scratch;
- Find legitimate office space and qualified workers on cryptocurrency-friendly offshores.
Why Choose State Cryptocurrency License in BVI?
With over 460k established businesses, the Virgin Islands remain one of the most popular destinations for off-shore incorporation. Due to the passing of several imperative laws, BVI is also becoming an increasingly attractive jurisdiction for cryptocurrency investments. Reputable and fully transparent, the British Virgin Islands offers a great mix of leading-edge governing framework and pioneering corporate lawmaking. More so than any other offshore territory, the BVI is recognized over the world as an economically advantageous option for companies looking to expand beyond fiat money.
The fact that one can accommodatingly structure intricate business operations across borders makes the British Virgin Islands a great option for temporary partnerships, JVs, IPOs, and M&As. Even more telling, the Islands’ asset-holding structures recently caught the eye of ultra high-net-worth individuals, so more and more UHNWIs are turning to BVI to ensure efficient management of their resources.
List of Advantages of the British Virgin Islands
- Shareholder-friendly Companies Act based on Delaware General Corporation Law
- Laxer taxation for those with offshores crypto license in BVI
- High degree of political stability
- No minimum share capital
- A part of Organisation for Economic Co-operation and Development’s white list
- Adheres to global compliance standards
How to Get Cryptocurrency License in BVI? Main Requirements
Every business operating in BVI is regulated by the British Virgin Islands Financial Services Commission (FSC). This autonomous regulatory body underlined the following requirements that have to be met in order to obtain a crypto license:
- Valid legal entity
- Commercial space rented or purchased on the British Virgin Islands
- Local workers on the payroll
- Business plan
- Company one-pager providing an in-depth description of the product/services
- Certificate of good conduct/lack of criminal record from all people involved
It should be noted by people who are searching for information on how to get cryptocurrency license in BVI that there are NO minimal capital stock requirements. This detail will surely satisfy investors who want to make profits from their crypto investments. After all, it was remarked upon time and time again that the crypto-friendly framework is one of the biggest reasons why investors decided to dip their proverbial toes in the waters of BVI.
Frequently Asked Questions
Q: Do I have to be physically present to obtain the state cryptocurrency license in BVI?
A: No. There is no need for you to travel to the British Virgin Islands in order to obtain the license. The progressive lawmakers allowed crypto investors and other interested individuals/companies to obtain the license using the Internet.
Q: Are there any possible restrictions when it comes to shareholders?
A: No, there are no limitations on shareholders. Unless, of course, your country has been black-listed by the world at large. So, unless you’re trying to obtain offshores crypto license in BVI from North Korea, there should not be any real difficulties at all.
Q: Can I simply acquire an already established company to speed things up?
A: Yes, such an option is possible. This should be done with the help of a reputable consulting firm that will help you acquire an already established and fully accredited business with its assets.
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