Money Services Business Licence, Class A or Class B (British Virgin Islands)
The Money Services Business Licence, Class A (money/electronic/mobile money transmission) or Class B (money orders, traveller's cheques, cheque cashing, currency exchange) is issued by British Virgin Islands Financial Services Commission (BVI FSC) under Financing and Money Services Act (Revised Edition). Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Money Services Business Licence, Class A (money/electronic/mobile money transmission) or Class B (money orders, traveller's cheques, cheque cashing, currency exchange)1 |
|---|---|
| Also known as | MSB · BVI MSB licence · BVI money transmitter licence · Class A MSB licence · Class B MSB licence · British Virgin Islands money services business licence · BVI FSC MSB licence |
| Issued by | British Virgin Islands Financial Services Commission |
| Jurisdiction | British Virgin Islands |
| Licence family | Money transmitter / money services business (MSB) |
| Legal basis | Financing and Money Services Act (Revised Edition)2 |
| Passporting | Domestic only |
What it lets you do
| Money remittance | Receiving funds from a payer solely to transfer them to a payee or another provider, without opening payment accounts. |
|---|---|
| Currency exchange | Buying and selling foreign currency for customers, in cash or electronically, as a bureau de change or FX service. |
Where it is valid
Buying a company that already holds it
Prior approval required. For SIBA investment business licensees, acquiring, disposing of, or issuing shares that create or change a 'significant interest' - defined as 10% or more of voting rights, distributions, or the power to appoint/remove directors - needs prior written FSC consent; licensees separately notify the FSC within 14 days of certain interest transfers. For BVI-recognised mutual funds (not licensees), there is no ownership threshold trigger; instead the fund gives 7 days' prior notice of a new functionary (manager, administrator, custodian) and reports director/auditor/authorised-representative or offering-document changes within 14 days, per the Mutual Funds Regulations 2010 and the Incubator and Approved Funds Regulations.3
MSB in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Australia | Registration as a remittance service providerRegistration as a remittance service provider (remittance network provider or independent remittance dealer) | AUSTRAC | n/a | n/a | n/a |
| British Virgin Islands | Money Services Business Licence, Class A or Class BMoney Services Business Licence, Class A (money/electronic/mobile money transmission) or Class B (money orders, traveller's cheques, cheque cashing, currency exchange) | BVI FSC | n/a | n/a | n/a |
| Canada | Money services business (MSB) registrationMoney services business (MSB) registration (covers foreign exchange dealing, money transferring, virtual currency dealing, crowdfunding platforms and related services; a separate foreign-MSB registration applies to businesses without a place of business in Canada that direct services at Canadians) | FINTRAC | n/a | n/a | n/a |
| Dubai International Financial Centre (DIFC) | Money transmitter licenceFinancial Services Permission for Providing Money Services restricted to Money Transmission only (Category 4) | DFSA | n/a | USD 10,000 | n/a |
| Netherlands | Exchange institution licenceExchange institution licence (Vergunning wisselinstelling) | DNB | n/a | n/a | n/a |
| United States | Registration of Money Services Business (Form 107 / RMSB) | FinCEN | n/a | n/a | ~5.9 mo |
Values come from each licence's page, where every figure has its source.
Sources
- mondaq.com: the financing and money services act 2009 · secondary · retrieved 2026-09-24
- bvifsc.vg: financing and money services act (PDF) · retrieved 2026-09-24
- ogier.com: ongoing regulatory obligations for investment business licen · secondary · retrieved 2026-09-24
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