Brokerage exchange industry is a large trading environment globally. Many entrepreneurs from all over the world want to enter this area. In order to be able to officially carry out Forex deals, it’s necessary to register and license the company which is relevant for many countries. This procedure in each jurisdiction has its own characteristics and nuances, so it is important to familiarize yourself with local rules and regulations before you finally decide where exactly you want to operate. In St. Lucia, a Forex-license is not regulated. This country is one of the most loyal for brokers. Let’s get a closer look at normative points and advantages of this over other commercial spaces.
Our firm specializes in establishment and licensing of organizations worldwide. We work with hundreds of jurisdictions. In particular, our specialists are ready to provide comprehensive professional assistance in obtaining a Forex-license in Labuan, Hong Kong, Mauritius and other countries.
Forex requirements in Saint Lucia
When intending to run a Forex-business in St. Lucia, it is necessary for a licensee to take into account obligatory rules and norms.
- It’s needed to establish a company – LLC, mutual fund or other type of commercial structure, which will be established according to the laws of the country.
- At least 2 individuals shall be appointed directors.
- A minimum of 1 shareholder is required, not necessarily a resident.
- Corporate shareholding is allowed and the firm can be wholly foreign.
- It is important to organize and maintain a high-quality compliance system in the company;
- It is necessary to hire at least 1 principal and a representative with licenses, these must be individuals.
- It is mandatory to have a presence, that is, a registered office locally.
- After acquiring a broker-dealer license, it is necessary to appoint an experienced auditor within 30 days, who will be approved by the regulator.
- The minimum starting capital is 380 thousand USD.
To start operating a brokerage firm in St. Lucia, you need to provide the following list of basic documentation:
- a copy of applicant’s passport certified by an authorized notary;
- utility bills for the last few months, which will confirm the physical presence in the country;
- recommendations from a banking institution;
- CVs of each member of the board of directors.
Businessmen may also buy ready-made variants of Forex-structure. Our specialists assist you in this way.
Types of Forex-licenses in St. Lucia
FSA – local regulatory authority – does not license FX brokers or binary options. At the same time, in St. Lucia, such activities are not prohibited if all normative points for its conduct are met. Jurisdiction is unique: brokerage firms established locally can work as principals or agents. In particular, organizations are entitled to the following.
- Conclude or offer transactions with other persons for the purchase and other transactions with securities.
- Keep under control the client’s portfolio, subject to the possibility of owning the property of this person.
Advantages of St. Lucia for launching a brokerage company
A forex license is not required to work in St. Lucia, as this activity is not subject to regulation in the country.
- Offshore companies operating outside the island are exempt from many different taxes.
- Here, citizenship is not important when appointing shareholders and directors.
- Firms don’t have to submit financial statements every year.
- Launching a company takes place quite quickly – you can establish a business with the help of our experts in a couple of weeks. At the same time, you will significantly save money at the start – you can save at least 50 thousand dollars only on a license.
- There isn’t need to comply with strict AML rules.
- Sufficiently low expenses for a firm’s maintenance.
- There isn’t attachment to country: brokers can be located in any part of the world. However, at least one representative of the company must remain on the island.
- Data confidentiality is preserved: it is allowed not to enter into the open register of founders, shareholders and beneficial owners.
- Employees of the firm do not need to have education in this area or undergo special training.
Procedure for opening a Forex-business in St. Lucia
Tracking trends of international businesses with high-risks, the specialists of our company offer clients best and most profitable solutions, safety of which has been tested and confirmed.
For full-fledged work in the brokerage sector in Saint Lucia with minimal risks and investments, you must pass next-mentioned steps:
- establish a business entity locally;
- set up a firm in a European jurisdiction;
- get a corporate account with a European banking institution or a stable payment system;
- conclude an agency agreement between this pair of firms – the European company will be considered the broker’s paying agent;
- connect to the broker’s website the possibility of making online payments: first, the funds will be credited to the merchant account, and then to banking account.
Such a link allows the broker to start quickly with considerable cost savings. Everything is done legally. The firm will be eligible to work with well-known payment systems and internet banks.
Our experts will accompany you at every stage, becoming your reliable allies in launching a Forex-business. We also offer shelf companies in Liechtenstein, Germany, France, Estonia, Cyprus and other countries. We’ll provide full assistance if you decide to buy a ready-made project.
Taxation of a Forex-company in St. Lucia
Authorities of St. Lucia created a taxation system with minimum rates. It has no VAT and no capital gains tax. Income tax will not be charged if the profit was received abroad.
Tax rates for companies that are tax residents of Saint Lucia:
- zero income tax abroad;
- 15% VAT for firms making profits locally;
- only 1% income tax. And if you pay the state duty, you will not need to submit reports to the tax office.
Once a year, firms must pay a state tax, which is equal for all enterprises and amounts to $300.
What is included in our services
For many years, specialists of our firm have shown their professionalism and commitment to their field, therefore they’ll help with opening and proper establishment of a firm in St. Lucia quickly and without unnecessary investments. We work all over the world, so we deal with licensing Forex-brokers and other types of business-activities in any jurisdiction.
- Firms establishment.
- Licensing and getting other permits.
- Assistance in collecting and filling out the start-up package of documentation.
- Opening bank accounts and merchant accounts.
- Other service range: office selection and registration, assistance in hiring and hiring staff, preparing reports, etc.
- Ready-made licenses and companies for sale.
- Professional advice.
Our company guarantees the most efficient and high-quality results and full support at all stages, including communication with regulatory bodies.
How much does it cost to start a Forex-business in St. Lucia?
Price of services is calculated individually in each case. It depends on the complexity of the process and other related nuances. You will receive a full calculation of future costs in advance. At the same time, the lawyers of our firm will select the most favorable conditions and optimize your budget as much as possible.
Our advantages
We have been providing business establishment and licensing services for more than a year, so we have a large client base and a lot of positive feedback. Clients keep coming back to us for professional help in expanding their businesses or opening new branches.
- Only highly-qualified experts with extensive expertise and extensive specialized knowledge.
- Hundreds of participating countries worldwide.
- Thousands of satisfied customers.
- Large selection of corporate service range.
- Fast results with minimal costs.
- Implementation of the latest innovative developments and solutions in the course of business.
Contact us today and you’ll be convinced of high quality of our services and our professionalism! Together with the lawyers of our company, you will save not only your time, but also money and nerves when opening and licensing companies in Saint Lucia and other jurisdictions.