Vanuatu or Mauritius: where to get D-category Forex license
Activities in financial markets are now one of the most promising and secure business areas. They can be carried out all over the world and bring a good income. To work in the Forex market you need a license, which can be obtained almost in any country in the world, though on different terms. Opening licenses of A, B and C categories will cost a tidy sum of money and will take a lot of time. Offshore Forex licenses of Vanuatu and Mauritius are classified as category D that has almost the same range of opportunities as the other three, but is much cheaper.
Advantages of Vanuatu's forex license
- There are no requirements for the mandatory presence of an office in the territory of the republic and employment of local residents;
- Loyal financial and tax policy;
- No strict requirements for the size of the authorized capital and the practice of blocking it in the bank account of the founder;
- Long term (up to 90 days) of the license, and its extended functionality;
- Absence of currency control.
Advantages of the forex license Mauritius:
- Clearly established rules of trading activity;
- Fast-track licensing procedure;
- Ability to work in the most developed markets of Southeast Asia.
Specifics of registration of licenses
An offshore forex license for Vanuatu (FINANCIAL DEALERS LICENSE) can only be obtained after the incorporation of the company in the jurisdiction, foreign firms do not have this option.
It is possible to register a business remotely and this will shorten the time for obtaining a license by at least half. A company founder who plans to have a Vanuatu Forex license must have at least 5 year experience in financial markets, including management positions, and a good understanding of the subject. The organization must have an office in Vanuatu and at least one local director.
It takes 3-4 weeks to establish a firm and 3-5 months to obtain a Forex license. The package of necessary documents includes: certificates and diplomas confirming the competence of the top managers of the company, copies of their passports containing information about their permanent residence, certificates of criminal record, business plan and founding documents of the firm, as well as documented information revealing the secret of origin of the start-up capital. The Vanuatu Government fee for registration of a Forex license is approximately EUR 38,000.
You can open an offshore forex license Mauritius (Investment Dealer License) for six months. This will require an actual presence in the jurisdiction, a local office, director, secretary and a corporate account with a central bank.
Among the necessary documents is a certificate from the Bank of Mauritius on the presence of an open current account, copies of documents certifying the identity of people involved in the management of the company, a business plan indicating the specifics of the company, the trading platform on which the main activities will be carried out and the main counterparties, as well as, properly certified package of constituent documents. The state duty varies from 15000 to 20,000 dollars.
Vanuatu is considered a worthy alternative to Mauritius for activities related to financial markets, but the final decision on the choice of jurisdiction to obtain a forex license is still difficult to make. IT-OFFSHORE specialists will be able to carry out a detailed analysis of the conditions in both countries, based on the needs of the client, and will take care of filling out questionnaires and paperwork.