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🇻🇬 British Virgin Islands (BVI)

Offshore VASP registration regime with no fixed capital minimum and 0% corporate tax, but no cross-border passporting and case-by-case capital adequacy oversight

Crypto (CASP) E-Money (EMI)
Last verified 2026-07-02 Next review 2026-07-16

Data verified: oldest cell 1 day ago (verified 2026-07-02). Individual cells show their own verification date below.

Licence type

VASP registration under the Virtual Assets Service Providers Act, 2022 (in force 1 February 2023). Three categories: (1) General VASP registration (e.g. transfer/brokerage/advisory services not falling into the other two categories), (2) Virtual Assets Custody Service registration, (3) Virtual Assets Exchange registration. Entities can hold multiple categories if they pay the applicable fee for each. ICO/ITO token issuance alone does not require registration if no other regulated virtual asset service is provided (per FSC Circular 43/2025 FAQ).

Verified 2026-07-02 Source: BVI FSC: Virtual Assets Service Providers Act, 2022: https://www.bvifsc.vg/sites/default/files/virtual_assets_service_providers_act_2022.pdf ; BVI FSC news page: https://www.bvifsc.vg/news/industry-updates/virtual-assets-service-providers-act-2022

Regulator

British Virgin Islands Financial Services Commission (BVI FSC)

Verified 2026-07-02 Source: BVI FSC official website: https://www.bvifsc.vg/

Capital requirement 🔒

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Timeline to authorisation 🔒

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Local substance 🔒

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Application cost 🔒

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Ongoing cost 🔒

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Passporting 🔒

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MiCA CASPs approved 🔒

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Key restrictions 🔒

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Recent changes

November 2025: FSC issued Industry Circular 43 of 2025, publishing a comprehensive 'Understanding Virtual Assets and VASP Regulation' FAQ document clarifying scope (e.g., confirming pure ICO/ITO token issuance without other regulated activity does not require VASP registration). March 2025: BVI launched the Virtual Asset Service Providers Advisory Committee (VASPAC), a public-private body to enhance regulation/supervision of the sector, first meeting 27 March 2025. The FSC's Compliance Inspection Unit began a major round of onsite VASP/TCSP/Investment Business inspections in 2025 running through Q1 2026, focused on AML/CFT/CPF controls, internal audit, and staff training.

Verified 2026-07-02 Source: BVI FSC: Industry Circular 43 of 2025: https://www.bvifsc.vg/news/industry-updates/industry-circular-43-2025-fsc-publishes-virtual-assets-and-vasp-regulation ; Loeb Smith: https://www.loebsmith.com/news/key-updates-from-the-bvi-fsc-so-far-in-2025/

Difficulty rating 🔒

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Informational only, not legal advice. Entries marked as placeholder or awaiting verification must not be relied on. Confirm all requirements with British Virgin Islands (BVI)'s regulator and qualified local counsel before acting.