British Virgin Islands

• Regulatory clarity. In 2022, a law came into force regulating the activities of companies providing services in the field of virtual assets. The law covers a wide range of services and creates a transparent regulatory framework for business..
• Reliable reputation. BVI remains one of the most respected offshore jurisdictions with a stable legal system and a favorable regulatory environment for international business.
• Developed infrastructure. The presence of qualified providers of legal, accounting and compliance services, as well as modern digital tools for registration and interaction with the regulator.
• Moderate time for legalization. The time for obtaining a license for a crypto company can take from 4 to 6 months.
• Language. The official language of BVI is English, which is convenient for conducting business.

• Mandatory regulatory requirements. Crypto providers must comply with fairly
• No special regulation in relation to mining and DAO. For some, the absence of strict rules can be an advantage, but for those who value transparency and clear regulatory frameworks, uncertainty can be a serious obstacle.

The level of costs for legalization in the jurisdiction is average.

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• Registration fee for creating a company: depends on the type of company, price varies from USD 450 to USD 7,500.
• Authorized capital: minimum size not set.
• Registration fee for considering an application for a license: its size depends on the type of license, price varies from USD 5,000 to USD 10,000.
• Authorization fee for approving an application and annual license fee: their size depends on the type of license, price varies from USD 7,500 to USD 25,000.

• Collection and preparation of necessary documents.
• Choosing a company type.
• Company registration.

• Payment of registration fee.
• Preparation and submission of documentation for obtaining a crypto license.
• Consideration by the regulator of the application and final approval.
• Payment of authorization fee for approval and annual fee.