Eternity Law International News Comoros Forex license

Comoros Forex license

Published:
March 9, 2023

Comoros is one of the luxurious locations for biz, in particular, in the field of investments and finance. Thanks to its favorable geographical location and the absence of income taxes, the Comoros attracts numerous investors and entrepreneurs from all over the world who are looking for favorable conditions for the development of their biz.

Overview of Forex license in Comoros Islands

The Forex industry is one of the key sectors of the Comoros economy. Many monetary services companies are opening offices in the islands to gain access to this important market. Regulation of forex brokers in the Comoros is carried out by the Ministry of Finance and Budget, which is responsible for granting licenses for activities in this area.

Obtaining a Comoros forex licence can be beneficial for forex brokers as it allows them to position themselves in the international forex market and offer their favors to investors worldwide. The Comoros license also allows brokers to attract clients from different countries and conduct investment transactions without paying income taxes.

Benefits of obtaining Comoros brokerage license

Achieving a Forex broker license in Comoros has several advantages:

  • Low capital requirements. Comoros has the lowest minimum fund demands of all jurisdictions granting Forex brokerage licenses. This means that it is possible to obtain a license for this activity in Comoros for relatively little money.
  • Low taxes. Comoros has a very attractive tax system for Forex brokers. Income and foreign exchange taxes are much lower than in most other countries.
  • Minimum regulatory restrictions. The regulatory requirements in Comoros are much less than in most other jurisdictions that grant licenses for Comoros International Brokerage. This means that the biz operations of Forex brokers can be less burdensome and more flexible.
  • Simple registration procedures. Achieving a license in the Comoros Islands is a fairly simple and quick process compared to other jurisdictions that grant licenses for Forex brokerage activities.

Requirements for obtaining offshore forex licence in the Comoros Islands

In order to obtain a permission for Forex activities in the Comoros Islands, certain requirements must be met. The most important of them are the following:

  • Company registration: Before obtaining a permission, a firm must be enrolled in Comoros and have an office in the country. Registration demands depend on the type of company (for example, LLC, corporation, partnership).
  • Regulatory Compliance: The company must comply with all regulations and standards set by the Comoros government and worldwide regulatory organizations. For example, the firm must ensure reliable protection of customer information and comply with capitalization requirements.
  • Go through the licensing procedure: the company must apply for a Forex license to the relevant Comoros regulatory authority. It may take from 3 to 6 months to make a decision on issuing a license.
  • Financial guarantee: the company must provide a financial guarantee to cover possible losses of its customers. The size of the guarantee depends on the type of activity and the scope of service.
  • Customer support: The company must have a high level of customer support and provide quality services.
  • Experience: A successful company license requires experience in the Forex industry.

Documents that should prepare for forex licence in the Comoros Islands

To obtain a Forex license in Comoros, the applicant must provide the following documents and information:

  • Application for acquiring a license.
  • A business plan that contains a complete description of the company’s business and development strategy.
  • Copies of the company’s registration documents, such as the certificate of incorporation, articles of incorporation, and other documents confirming the legality of the business.
  • Proof of the company’s financial stability, such as an account balance or proof of financial ability.
  • Documents confirming the compliance of the company’s management and employees with the requirements of Comoros legislation.
  • Confirmation of the size of the company’s equity capital.
  • A complete list of services that will be provided by the company.
  • Plans to protect client assets and secure transactions.
  • List of banks with which the company plans to cooperate.
  • A certificate on the absence of criminal records of the managers and founders of the company.
  • Copies of passports and other documents confirming the identity of the managers and founders of the company.

You could be interested

Ready-made company in Latvia

Ready-made companies, seasoned companies, or aged companies refer to LLCs or partnerships that have not been active. Benefits of aged companies Saving time is one benefit of a ready-made firm. The incorporation procedure takes time, and quicker enrollment is more expensive due to greater state taxes. Changing the owner of an existing business is quicker....

Legalization of Cryptocurrencies in Ukraine

The government of Ukraine is going to consider the draft law on the legalization of cryptocurrencies in Ukraine in the second reading, which will later become the basis for the next one. On the territory of Ukraine, cryptocurrency can use as a means of payment. Tax levy on income derived from transactions with cryptocurrencies will be...

Setting up a crypto exchange business in Georgia

We will consider the features of establishing crypto exchanges in Georgia in this article. Although Georgia does not occupy a leading position among the most developed countries in the field of information technology, it is one of the world’s leading countries in cryptocurrency mining. According to the Global Cryptocurrency Benchmarking Study, in 2017 this tiny...

Cryptocurrency license in Singapore

Singapore has consolidated its position as one of the preferred fintech destinations for foreign investors around the world.  It thanks to a favorable taxation system and a modern regulatory framework that covers a wide range of activities related to the financial industry. One of the newest and most in-demand types of businesses is related to...

Overview of the advantages of setting up a small alternative investment fund

Nontraditional investing brings a bunch of options for business people to obtain more profit, balance risks and returns in their portfolio, and use tax incentives. Once exclusively accessible for high-net customers, now there are favorable options for the general public – small investing funds. So, what are the advantages of setting up a small alternative...

Costa Rica gambling license

If it is necessary to legalize activities in the field of gambling, it is difficult to find a profitable way that will allow you to operate anywhere in the world. But a gambling license in Costa Rica is a real opportunity to start a business in the field of gambling. For a very long time,...
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof

Kyiv

Baseina street, 7

London

Grosvenor Gardens, 52

Edinburgh

Lochrin Square, 1

Nicosia

Jacovides Tower, 5 floor

Tallinn

Kesklinna linnaosa, Tuukri 19

Riga

Esplanade, 7 floor

Vilnius

Gediminas Avenue, 44A

New York

New Rochelle, Huguenot St, 175

Sydney

20 Martin Place

Singapore

3 Fraser Street, #08 DUO Tower

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai

Porto

2609 Avenida da Boavista

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7