Thursday, September 09, 2010

BVI FSC Issues Application Forms for Financial Services Business Provider's Licence

The BVI FSC has issued the information and guidelines for those who seek to apply for a licence or certificate as Financial Services Business Providers within the jurisdiction. The six documents published by the Commission include the Application Form that should be completed by an applicant to obtain the Licence or Certificate as a Financial Services Business Provider (Part 1 of the Document), and the forms which include additional information required in the case of a Banking or Fiduciary Business Licence Application (Part 2), in the case of an Insurance Licence Application (Part 3), for an Investment Business Licence, Recognition and Registration of Mutual Funds (Part 4).

Part 5 of the Document is for additional information, which is not specifically requested in an approved form for the type of authorization sought, but which an applicant may wish to provide for the consideration of an application or for any other reason. Part 6 (Declaration) and Part 1 should be completed by all applicants notwithstanding what type of Licence they apply for.

The order of completing the approved appplication forms, additional forms and attachments and their acceptance by the Commission is stated in the Application Guidelines. Every application must be accompanied by the requisite fee. All completed applications along with supporting documents should be addressed to the Financial Services Commission, and will be processed by appropriate divisions of the FSC which have responsibility for the subject matter of the application.

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