Overview of Crypto regulations

What are the advantages of issuing an ICO through a BVI company?

"The use of a BVI business company incorporated under the BCA as an ICO Issuer brings with it all of the standing advantages associated with BVI business companies and the BVI as a capital friendly jurisdiction. These advantages include:

  • corporate flexibility and efficiency enshrined in the modern and commercially minded BCA and other BVI corporate legislation;
  • the absence of capital control and maintenance rules, allowing for the free flow of funds in and out of a BVI ICO Issuer;
  • tax neutrality;
  • low incorporation and annual company maintenance costs relative to similar jurisdictions such as Cayman and Bermuda;
  • efficient company maintenance;
  • continuing obligations for BVI companies and their officers and owners are commercially progressive and non-onerous, and, for the present at least, most traditional ICO forms would not be subject to additional securities or public offering regulations under BVI law; and
  • "transaction fluency" - as the largest offshore corporate domicile the BVI enjoys the presence of a strong professional services community of lawyers, accountants and corporate services providers. Transactions are professionally handled and transaction fluency is optimised."

Source: Ogier, last revised 30 July 2020