Eternity Law International — News — Secure a Trust License in the Comoros

Secure a Trust License in the Comoros

Published:
July 5, 2024

Trust companies carry out the activities of managing and storing assets, performing their administration and distribution. Any owner of financial assets or real estate can take advantage of placing everything he owns under the management of a trust as one of the main tools for obtaining asset protection. To carry out such activities, it is necessary to obtain a permit such as a trust license Comoros. Below we will look at the main stages and nuances of the licensing process and the advantages of this particular jurisdiction for trust business.

Our firm provides comprehensive Comoros trust services. We will fully support you in establishing a trust and obtaining permission to operate, taking on all the difficulties ourselves. We also have an extensive inventory of ready-made trusts for sale in hundreds of jurisdictions.

Obtain trust license Comoros: opening, general licensing procedure and further operation

A trust is an organization whose services a person can use to place financial assets and real estate. The organization that takes over property or any assets is entrusted with its protection, management and final distribution of assets in favor of those entitled to receive benefits and income. Cooperation between the trust and the client, as well as the management of the transferred assets, is carried out on the basis of an agreement that outlines the main goals and needs of the trustor.

A person who transfers his or her assets, and therefore transfers legal temporary ownership to the trust, can either be the future executor of the assets or designate them to be transferred to another person. In particular, trusts are also often used to protect and hold financial assets or property rights until they are passed on to inheritance. As agreed with the client, the trust firm representative should prepare an agreement with instructions on how to distribute the benefits of the assets.

Under Comoros trust law, the asset manager is required to ensure that the trustor’s wishes are carried out and his/her interests are protected. The owner of the assets may also designate any other persons who will receive the benefits resulting from the implementation of the assets in the commercial project. Among other things, a trust is one of the main tools in asset protection planning, used for various purposes, which are divided into four main categories.

  1. Tax planning. A trust is commonly used as a tax planning tool.
  2. Inheritance of financial assets or property. Being in a trust, the heir can receive the bequest without having to go through the procedure of accepting the inheritance.
  3. A trust can provide absolute protection of assets from risk from creditors.

Our specialists will provide you with comprehensive advisory and practical assistance in registering and licensing a trust in Comoros. We also have an extensive list of ready-made trust companies licensed in Hong Kong, Cyprus, Germany, Dominica and other countries.

So, how to get trust license in Comoros? The general procedure is quite simple, however, it requires compliance with certain standards and norms.

  1. As part of the trust license requirements Comoros, a firm must demonstrate financial strength, contribute a certain share capital, draw up a realistic business plan and undergo due diligence.
  2. The organization is required to appoint at least one director who has qualifications or experience in the financial sector. The director or directors must liaise with the regulator and ensure that the company complies with the rules established in the Comoros Islands. All licensed businesses must comply with anti-money trafficking regulations.

Trust license fees Comoros required to be paid range from 2.5-3 thousand euros.

The general licensing procedure is as follows.

  1. Establishing a local company, hiring staff and opening a corporate account.
  2. Filling out an application for a trust license in Comoros and paying the registration fee.
  3. Preparation of necessary documents.
  4. Submitting trust license application Comoros to the regulator.

The list of documents includes the following.

  1. Original application form.
  2. Notarized copies of passports for all persons.
  3. A current bank statement, which should reflect the current financial condition of the company.
  4. Confirmation of the company office address.
  5. Business-plan

Our lawyers are ready to accompany you at every stage of this procedure.

Advantages of the Comoros for trust business

The Comoros Islands are ideal for initial investment in a trust business due to its robust business environment, low cost of living and remote location. Comoros is an island nation in the Indian Ocean, off the east coast of Africa. Its geographical location, political stability and financial security make it an attractive location for international trust activities.

  1. Optimization of trust services. Clients have access to a wider range of services tailored to their financial goals and strategies.
  2. Privacy and Security. The Comoros financial sector is committed to protecting the privacy and security of clients and their assets.
  3. Cross-border diversification. Clients can make international asset transfers, reducing exposure to geopolitical risks and investments.
  4. Favorable legal environment. Comoros has a business-friendly legal framework that protects privacy and actively promotes international financial services to attract investors.
  5. Savings on registration and licensing costs. The fees for registering a company and obtaining a license in Comoros are relatively low, making it an affordable option for starting a trust business in the region.
  6. In addition, offshore companies in Comoros are not subject to corporation tax or capital gains tax, as they are only taxed on income earned domestically and not overseas.

Our company offers professional trust services Comoros. We have many years of experience in this field, which makes us the best. Trust license cost Comoros varies in each individual case and is calculated individually for clients. We can also offer assistance in opening a trust in Luxembourg, France, Belgium, Denmark and other countries. Contact us right now.

You could be interested

New opportunity for brokers in Nauru

In the dynamic world of forex trading, brokers constantly seek jurisdictions that offer a blend of regulatory clarity, tax efficiency, and operational convenience. Nauru, a tiny island nation in the Pacific, emerges as an intriguing option for forex brokers looking for new opportunities. This article delves into the essentials of acquiring a forex license in...

Offshore company in Canada

Canada is a country with a fairly strict taxation system. The income of ordinary Canadian companies is taxed worldwide. Accordingly, they do not have any signs related to tax or offshore structures, and in any case they are prestigious. However, the laws of Canada offer the possibility of registering and using Canadian businesses with a...

Opening a US Bank Account

Persons with other citizenship possess rights to open bank account in USA, but not all establishments spread their services to other residents. Plenty of establishments claim social securities, which non-residential persons don’t possess. Nevertheless, large banking corporations permit other persons to cooperate with them subject to determined rules. Documentation needed for bank account in USA...

The Role of MLRO

The MLRO – is a professional who manages the AML and regulative compliance-associated duties applying a risk-grounded approach. Let’s figure out what is the role of MLRO and why it is highly essential to appoint such professionals in businesses dealing with finances. Role of MLRO in the financial business The MLRO is in charge of...

PI license in Poland

Regardless of an uncertain access to digital currency regulation, the Polish Financial Supervisory Authority (KNF)  has emphasized that it supports innovative financial services, including the implementation of fintech-based systems. This could make them a promising fintech region and certainly one to watch for the evolution of the country. The Small Payment Institution in Poland was...

Automatic exchange of tax information

Many developed countries are taking a confident course towards deoffshorization, because of the fight against tax evasion by large companies It is impossible to completely ban offshore companies. Therefore governments are actively working to identify the real owners of offshore companies. They also tighten control over financial transactions. For the implementation of the Fourth Anti-Money Laundering...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360