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 Is. St. Vincent and the Grenadines issued a memorandum requiring brokerage companies to provide them with copies of business licenses from countries where they trade.
There were also stricter requirements in Vanuatu, among which was the opening of a local office equipped with all the necessary tools for brokering. The forex license in Comoros does not have such strict requirements, so it is becoming increasingly popular.
Features of the forex license
A forex license in the Comoros is a great option for new companies, as well as for businesses that need to legalize urgently. It is not as prestigious as registering a forex license in Cyprus or the UK forex license, but the requirements are less. Another plus is that Comoros is not blacklisted by the EU, so there will be no problems with international transactions.
Separately, there is no permit for forex trading in Comoros. The applicant applies for a brokerage license, which also provides for forex currency trading. Other services that can be provided by a licensed brokerage company are:
- operations with shares and other securities;
- consulting on financial issues;
- asset management, fund management;
- depository activities;
- 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 to personnel. But you should know that every brokerage company has to submit an annual report to CFC within 3 months after the end of the year.
How to obtain a Forex license in Comoros
Forex activity in Comoros is controlled by the Financial Commission. The application is submitted to Comoros Services LTD. At the same time the applicant can apply for an IBC (International Business Company). You can also buy a ready-made business with a full package of documents, if you contact our experts.
With the application for permission to engage in brokerage activities must be submitted:
- A business plan.
- Details of the beneficiaries, including business and legal information.
- Details of the shareholders, their ownership interests.
- Summary of the directors.
- Articles of Incorporation, company registration certificate, etc.
- Recent financial statements (if any).
If the paperwork is done correctly, you can get a permit to engage in brokerage activities in 24 hours.
How to obtain the permit
To obtain a Forex license in Comoros contact IT-OFFSHORE experts.