Getting Forex License IN EUROPE
Getting Forex License in Europe is an urgent topic, before which it would be worth familiarizing yourself with some features.
From the point of view of the legislative framework in the Czech Republic and Latvia, Bulgaria and Estonia, the regulatory processes of broker-type organizations that are offered on the forex market are quite similar to each other.
This can be explained by the fact that each of the above countries is part of the EU. The legislative framework of these states complies with the norms and requirements that are adopted in the EU. And directly the work of forex institutions complies with the MIFID law.
The process of obtaining a special license in the territory of these countries will take about 3-8 months, while the stage of registration itself is almost the same.
To obtain such a license you need:
- complete the organization registration process;
- collect the necessary package of documents and submit to the institution that is involved in the process of obtaining a license;
- if necessary, provide additional documentation;
- as soon as the process of reviewing the declaration of desire for the execution of this document takes place, you can count on a reasoned refusal or a license if approved.
Almost the same criteria apply to applicants who wish to become license holders. These include the following:
- the applicant has an excellent business reputation;
- lack of recall of licenses, criminal records, bankruptcy and all that could ruin the reputation of the company and the applicant himself;
- availability of relevant experience and education in the process of working in the forex market.
REQUIREMENTS FOR AUTHORIZED CAPITAL
Almost identical criteria apply to such a parameter as authorized capital in all states. For Latvia, the Czech Republic and Estonia, the amount of initial capital is:
- for obtaining a license like market maker – 730 thousand euros;
- to obtain an STP license – 125 thousand euros.
In Bulgaria, slightly different rules apply. For the first case, the value is about 250 thousand leva, and for the STP license you will need no less than 100 thousand leva.
Therefore, we can confidently say that the actions associated with obtaining a license in these countries are almost identical.
In addition, it is worth looking at the fact that brokerage organizations have a choice.
They can independently decide to carry out activities only with customers of the state where the registration is made, or enter into the process of interacting with customers located in other countries.
But all this will be realized after the certification procedure is completed.
PASSPORTIZATION PROCESS
Certification is a certain process, which is aimed at ensuring that a licensed investment type company is notified that there is a desire to provide and offer certain services in other countries of the European Union.
Moreover, this entire process should be regulated by MIFID.
Given these features, in order to get the so-called forex license as quickly as possible, you can seek help from an experienced and trusted organization that is familiar with all the nuances of this procedure.
Turning to us for help, you will receive highly qualified assistance from Eternity Law International, as we have extensive experience in the field of business investment in the forex market.
