How to get a forex license in the Comoro Islands

How to get a forex license in the Comoro Islands

The Forex license in the Comoros has become incredibly popular after other recognized jurisdictions introduced stricter regulations. For example, as of January 2023, the authorities of St. Vincent and the Grenadines issued a memorandum requiring brokerage companies to provide copies of business licenses from countries where they trade.

Vanuatu also has stricter requirements including opening a local office equipped with all the necessary tools for brokering. However, the Forex license in Comoros is easier to get so it is becoming increasingly popular.

Features of the forex license

A forex license in the Comoros is an excellent option for new companies and businesses that need to legalize their work urgently. Of course, it is less prestigious than registering a Forex license in Cyprus or the UK Forex license, but the requirements are more flexible. Another advantage is that the EU does not blacklist the Comoros, so international transactions will have no problems.

Also, there is no such thing as a permit for Forex trading in the Comoros. The applicant applies for a brokerage license, which is also valid for Forex currency trading. Other services that a licensed brokerage company can provide are:

  • operations with shares and other securities;
  • consulting on financial issues;
  • asset management, fund management;
  • depository activities;
  • clearing;
  • issuance and underwriting of securities.

Among the advantages of a brokerage license are quick registration and minimal bureaucracy. There are also no requirements to rent a local office and hire personnel. But you should know that every brokerage company has to submit an annual report to CFC within three months after the end of the year.

How to obtain a Forex license in the Comoros

The Financial Commission controls Forex activity in the Comoros. The application is submitted to Comoros Services LTD. At the same time, one can apply for an IBC (International Business Company). You can also buy a ready-made business with a complete package of documents if you contact our experts.

The application for permission to engage in brokerage activities must be accompanied by the following:

  • A business plan.
  • Details of the beneficiaries, including business and legal information.
  • Details of the shareholders, including their ownership interests.
  • Summary of the directors.
  • Articles of Incorporation, company registration certificate, etc.
  • Recent financial statements (if any).

You can get a permit to engage in brokerage activities in 24 hours if the paperwork is done correctly.

How to obtain the permit

 Contact IT-OFFSHORE experts to obtain a Forex license in Comoros.

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