If you plan to operate in financial markets and offer FX brokerage services to clients from regulated jurisdictions, you must apply for a Forex broker license, and Seychelles, definitely, suits well to get it. This license is required for all brokerage firms, mutual and hedge funds.
Authorities in both offshore and onshore jurisdictions shall grand the license to the entity, which fulfils all statutory requirements, but as a rule, it is much more easier to adhere to offshore legal regime, it is especially important, in terms of minimum capital requirements. Below, the basic requirements for obtaining Seychelles forex license are displayed.
Seychelles Financial Services Authority will not grant a license unless it is satisfied that the applicant:
Seychelles is one of the best jurisdictions for opening a company and obtaining a Forex brokerage license in terms of reasonable cost and minimal capital requirements. Prompt timeframes are, also, worth mentioning:
1. Data collection.
This is the first stage, at which a comprehensive KYC procedure takes its place, the procedure incudes: verification of the identity documents, residence address, the source of funds and the check whether a client possess necessary education, qualifications and experience to engage in this business.
2. Preparation of the application.
At this stage, application forms to be filled and all necessary documents to be collected, this, also, includes drafting of the Articles and Memorandum.
3. Submission of the application.
After all documents collected and the forms filled, we will submit the application to Seychelles FSA. All government fees to be paid at this stage.
4. Further support.
Our specialists will be in touch with the FSA and monitor the procedure of application consideration.
In accordance with the established requirements, each of the directors or officers, shareholders and beneficiaries must provide the following documents:
All documents must be issued no longer than 3 months prior to the submission, certified and, if required, translated into English and apostilled.
Eternity Law International will provide you with expert advice on obtaining a forex broker license in a suitable jurisdiction. If you have any questions or need advice on obtaining a forex broker license, call us at the phones indicated on the site, or write to CRM form, our specialists will answer you online.