Overview of Crypto regulations
What are the advantages of the BVI jurisdiction for business?
Some of the advantages of the BVI jurisdiction are:
- Tax relief if the entity can demonstrate that all activities are carried outside of the country. Those are not subject to income tax.
- Annual maintenance is low, as opposed to other jurisdictions in the Caribbean.
- “Transaction fluency” as a pioneer in the offshore business in the region, the BVI continues with a robust professional service community of lawyers, accountants, and corporate services providers that allow for transactions to become handled with ease.
- The ICO forms are not subject to additional security for public offering regulation under the BVI law, as current obligations for companies in the BVI are non-onerous.
The BVI remains a jurisdiction of opportunities despite the numerous regulations that have been implemented in the last decade. The prompt and easy way of doing business in the BVI remains favorable as the government remains at the forefront of protecting the confidentiality of information and investing resources in the development of platforms to assist the ICOs.