Advantages of obtaining a Vanuatu Forex license
The island state of Vanuatu is the least known compared to other Pacific countries, but this jurisdiction is relevant for business owners, including Forex companies. It is possible to obtain a Forex license in Vanuatu on favorable terms. The cost of registration is relatively low.
In Vanuatu it is profitable to do business as there is no income tax, capital gains, no inheritance tax. Since the work of Forex and binary options is closely monitored in most countries, a firm with a special permit gets more opportunities and a positive reputation. Buying a Forex license in Vanuatu is worth it because it is easier to get financial permission in this country.
Basic conditions for registering a license
To obtain a license, you must register a company. Learn more about the nuances of buying a company from our specialists in IT-OFFSHORE. Usually registration of a company takes no more than half a month, and you can get a license for 3 months.
Conditions of registration of the company:
- The company must have one director, shareholder, who is a natural or legal person;
- There are no requirements for the smallest authorized capital;
- The company registered in the jurisdiction is tax exempt, and a brokerage license can be obtained at a later date.
The requirements for a licensee in a jurisdiction are quite stringent. A deposit of more than 43 thousand euros is required beforehand. It is deposited in a special account of the state body that issues licenses. The main purpose of the deposit is to ensure the responsibility of the broker.
Another requirement is to insure the professional liability of employees. Authorized bodies monitor the fulfillment of all the requirements that are required to obtain a license and carry out further work.
In order to obtain a license, a number of documentation must be provided, which must be certified. A copy of the foreign passport, an extract from the house book, data that confirms the absence of criminal record is required.
Advantages of Forex Vanuatu
The main advantage of registering a company in this jurisdiction is that there is no tax on profits, inheritance or capital growth. In this regard, doing business in the country is relevant for many investment firms. A special license allows you to work in the field of trade in the financial market, managing investments.
The main advantages of opening a company:
- Ensuring confidentiality;
- Simplicity of registration;
- There are no conditions regarding the minimum authorized capital;
- Lack of currency control.
Vanuatu follows FATF recommendations, international standards. It is possible to obtain a license in a short period of time for a relatively small price. The advantages of obtaining a Vanuatu license are that the owner can be resident in any country, can work in any country, there are no special conditions for auditing, accounting.
To formalize the company and the license you will need to provide some documents. These include copies of the applicant's passport, which are notarized. In addition, a copy of ID or internal passport is required. The address must be documented.
You will need statements from the financial institution about the movement of money, recommendations from the bank, lawyer's recommendations. It is obligatory to provide information about no criminal record, business plan and CV resume.