Regulatory AlertsFinancing and Money Services (Exemptions) Regulations (Revised 2020)
The Government of the Virgin Islands issued these Regulations to exempt certain foreign-incorporated companies from licensing requirements under the Financing and Money Services Act. The exemption permits these entities to provide credit to up to five Virgin Islands residents, provided the borrowers cannot secure loans from local banks and the financing amount does not exceed $1,000,000. Compliance requires borrowers to submit notarized affidavits to the Commission, and providing false information constitutes a criminal offense punishable by fines or imprisonment.
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