Offshore Company formation in BVI, no license for mutual fonds.

[Safa]

Just got informed that for now you won't need any license if you accept monies from customers to pay some brokers or currency traders.


This is great news and I'm sure not many are aware of this!

 

[SysOp]

Sure Safa, you should have mentioned that if you go for a BVI company formation now and you have the activity you mentioned, then soon a Law will be passed on to those business which will require a license, however, no one know when this will be and if they will make any checks on this once the law comes.

 

[Safa]

The sad truth is that you will need a license even in the BVI if you run a Invetsment firm and take on 3rd parties money

 

[JohnLocke]

Most offshore jurisdictions will require a license for such activity, only if you don't handle 3rd party monies (private investment) you won't need a license.