What are the minimum requirements for a company management licence?

The minimum requirements for obtaining a company management licence are:

• proven company-management experience
• a minimum paid-up capital of twenty five thousand US dollars ($25,000)
• physical presence in the British Virgin Islands.

The application fee is two hundred US dollars ($200).

Special note: these requirements are by no means exhaustive.

Note:

A consensus has now emerged that, only in circumstances where:

• the institution concerned is of blue chip international stature and renown, and whose presence in the jurisdiction would be a fillip to the reputation of the BVI as a situs for conducting international business; or
• the institution concerned will be providing additional services not currently provided within the jurisdiction;

will company management licences be granted to companies other than companies with local ownership and a physical presence in the BVI. In both cases, the company is expected to establish its own physical presence and apply for a general trust licence within two years of the grant of the company management licence. All other institutions will initially have to apply for a general trust licence.