Forex License in St. Vincent and the Grenadines
St. Vincent and the Grenadines is the only jurisdiction that does not require a license to operate a brokerage business. The FSA (Financial Services Authority) officially confirms that it does not regulate forex activities, does not control and license offshore companies that work in this direction.
What type of company should be registered for forex trading
To be engaged in brokerage activities, the company must be registered as an LLC. Only this form will allow to use the tax benefits which the SVG has developed for the offshore business.
Advantages of LLC registration at SVG
- It is not necessary to have a Forex license in Saint Vincent and the Grenadines, since brokering is not regulated;
- Offshore companies that operate off the island are exempt from many taxes;
- Director, shareholder can be a citizen of any country;
- Annual financial reports are not required;
- Authorized capital is $1;
- Broker is not tied to the island, can be located anywhere in the world. The only requirement - the company representative must be on the island (including nominal);
- Full anonymity - shareholders, beneficiaries, founders are not required to be included in the public register;
- Profile education from the staff is not required, and therefore do not need to undergo special training.
How long does it take to register
Opening a brokerage company at SVG takes from 3 to 5 days if all the documents are filled out correctly. Plus - a week is needed to put an apostille on the documents.
How to open a company at SVG
To open a brokerage company quickly, smoothly and without problems, contact IT-OFFSHORE for assistance. We provide a full range of turnkey company registration services. Among them:
- Collecting and filling out documents;
- Payment of state fees;
- Finding and renting a legal office;
- Services of a nominee agent who will represent the broker on the island;
- Company registration.
We also offer fast account opening. Banks are prejudiced against brokers because of the high risk involved. We take care of this problem and quickly open a bank account.