Selecting the right jurisdiction for your Forex brokerage license is an important step towards your business strategy and company operations. There are a number of important factors that must be carefully evaluated before taking on such decision. There are dependent on the regulatory requirements and investment firm license costs.
- Minimum capital requirements
- Time frame (processing the application and obtaining the license)
- Minimum personnel
- Personnel availability and qualifications
- Taxes
- Office running costs
- Compliance
- Technical and IT
- Legal
- Reputation
Here is a brief overview of the main advantages of each regulatory jurisdiction:
- Belize: tax-exempt status
- BVI: favourable tax environment, economic stability, asset protection opportunities
- Cyprus: tax-friendly environment.
- Malta: modern infrastructure and a stable constitution
- Mauritius: favourable tax planning opportunities
- New Zealand: low cost of acquiring a Forex license, stable economy and government
- Singapore: corporate tax rates are extremely competitive, stable economy and political environment
- United Kingdom: very stringent, respected, and well regulated
Required documents for license application will depend on the jurisdiction and the type of license you choose. Below is a list of the general information required to submit the license application (certified by Notary Public and legalised via Apostille):
- Completed and signed application form
- Business Plan with 3-5 years financial projections
- Company operations manual
- Internal policies and procedures
- Risk management and anti-money laundering
- Corporate governance
- Minimum statutory capital
- Certificate of Incorporation
- Memorandum and Articles of Association
- Registers of Directors
- Shareholders
- Certificate of Good Standing
- Additional documentation from directors, managers, officers, and shareholders/beneficial owners
Contact us to discuss which option would be best for your Forex broker licensing.
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