License for Forex Companies of Vanuatu 2022
The Vanuatu forex license is becoming increasingly popular with offshore forex brokers. Among the reasons are minimal requirements and obligations, full confidentiality, and vast opportunities. Forex company Vanuatu in 2022 is available to small businesses and beginners due to its cheap license, ease and speed of registration (2-3 months). A company that is registered here can enjoy tax benefits. In Vanuatu there is no tax on income derived from outside the island, capital gains.
Features of a Vanuatu license
To get a license in Vanuatu you need to apply to the Financial Services Commission (VFSC). The regulator not only gives permission but also supervises the work of brokers.
There are three categories of licenses available to companies:
- A - transactions, loans, certificates of deposit, bonds, debt stocks;
- B - futures, options, etc;
- C - precious metals, debt securities, company shares, contracts to buy securities, commodities.
What you need to get a Forex License in Vanuatu
Before you can get a license, you need to register a Forex company in Vanuatu on or before 2022. The director must have at least 5 years of experience in the financial industry. The company must have a legal office on the island, among the employees - at least one resident.
An organization that wants to obtain a Forex license in Vanuatu must meet these requirements:
- Have a good reputation. The owners and all persons who occupy managerial positions must not have a criminal record. They will also pass a competency test, where their qualifications, experience in the relevant position will be evaluated;
- Good financial standing. Vanuatu authorities want to be sure that the people who will work with finances have not been involved in bankruptcy proceedings, do not have money problems;
- Company owners, directors must pass a standard identity check, proof of address;
- The regulator must be provided with a business plan, which will detail the goals of the organization, how it will solve them;
- The brokerage company must appoint an employee who is responsible for combating illegal money laundering. He is required to report periodically to the authorities.
What documents are needed for the application
To obtain a license, you must provide documents of all, without exception, directors, officers, shareholders, beneficiaries. Certificates must be no older than 3 months, translated into English, notarized, and apostilled:
- copies of passports;
- сriminal records;
- a statement that the company is not on the verge of bankruptcy;
- letter of recommendation from the bank;
- utility bill, which confirms the address;
- a resume that confirms qualifications and experience related to brokerage activities in the forex or similar exchange.
The regulator may also request other documents that must be provided.
How quickly to register a Forex company in Vanuatu
If you want to register your Forex business in Vanuatu 2022, contact IT-OFFSHORE specialists.