Overview of crypto regulations

Are cryptocurrencies taxed in the BVI?


  • "There are no specific taxes levied against cryptocurrencies in the BVI. The BVI is a tax-neutral jurisdiction and does not have any withholding tax, capital gains taxes, income tax or corporate taxes at the time of writing. In the unlikely event that a BVI entity owns BVI situate land, the entity may be responsible for stamp duties.

    Where there is an ICO or ITO, the exchange operators will need to be cognisant of the impact of the Foreign Account Tax Compliance Act (“FATCA”) and Common Reporting Standards, which will be relevant to determining the ultimate beneficial ownership of the BVI entity issuing the ICO or ITO. While these pieces of legislation will not be immediately relevant at the launch of the ICO or ITO, they will need to be considered as the BVI business company acting as the issuer starts to conduct business more generally."

    Source: Carey Olsen, last revised 2020