Forex license in Europe
The Forex license is presented in the interbank foreign exchange market and is required for trading 24 hours worldwide. Fixed quotes are not set, the exchange is made on the basis of free prices. A license issued by European jurisdictions allows you to open bank accounts and is valid throughout the EU. The permit allows you to conduct business without restrictions on the territory of the Union.
The benefits of permission to conduct stock exchange Forex activities also include:
- the cost of exchange operations is set at about 35-40% lower than when conducting transactions in other schemes for the EU average;
- taxes on profit are not charged, as well as on dividends received by non-residents;
- lack of currency control by the EU;
- low tariffs for banking services, combined with a high level of service;
- The presence of agreements on the avoidance of double taxation, for example, when registering a Cyprus license for forex activity is valid for 40 countries.
How to get a Forex license in Europe
To obtain a permit to conduct exchange activities, you must create a company abroad, register a bank account. At the same time, mandatory fees for income from Russia will not be charged.
When registering, it is necessary to pay attention to the fact that each jurisdiction has its own requirements for paperwork. Special conditions are put forward by the banking institutions of the country where the business is organized. In particular, they concern the size of the authorized capital of companies for Forex licenses.
Terms of registration of the license
Preparation of documentation for conducting exchange business takes from 3 to 12 months, depending on the chosen jurisdiction. So in Belize, you can get a permit in a period of 3 to 4 months, in Cyprus - from 6 to 8 months.
The process of obtaining permission is carried out in the provision of the following services:
- the creation of a company abroad;
- opening an account;
- advising on the preparation of documents for obtaining a license;
- registration of a special bank account;
- registration of necessary papers;
- appeal to the authorized body responsible for issuing a Forex license, for example, in Belize to the Financial Commission.
The cost of services includes the commission of all legally significant actions. The state duty in the amount of 500 US dollars is paid independently by the applicant. The license provides for a fee of $ 2,500 for brokers and 5,000 for traders who place third-party deposits annually.