BEGINNING IN 2018, A FOREX BROKERAGE IS FORBIDDEN IN ST. VINCENT AND THE GRENADINES
If you want to open an international business, then registering a Forex firm in SVG will be an excellent solution.
Saint Vincent is an independent island nation located in the West Indies.
Saint Vincent’s financial condition is rather stable, which can be judged, because the exchange rate of the East Caribbean dollar against the US dollar has not changed since 1976. One of the country's main languages is English, which greatly simplifies the process of registering a company in SV and conditions for doing business.
Features of Forex business in SVG:
A financial regulation on the islands is carried out by FSA, which, among its other obligations, also deals with issuing licenses for the activities of forex companies.
We draw attention to those, who wish to order a Forex license in Saint Vincent, that the implementation of such activities can be both regulated and unregulated, while there are no requirements for a minimum capital or its maintenance.
If you plan to launch a startup in SVG remotely, then we suggest, that you familiarize yourself with the following advantages of this jurisdiction:
- The ability to register both LLC/IBC companies;
- Within 25 years after registration, all companies are excluded from a local taxation;
- Companies may be re-registered;
- No income taxes;
- Lack of minimum capital requirements;
- Enough 1 physical or legal persons for company registration;
- Obtaining a brokerage license in St. Vincent does not require the mandatory display of the list of owners in public documents;
- There are no requirements for annual reporting, which respects financial confidentiality;
- The ample opportunity to establish a company with various types of shares;
- Binary options are not prohibited or regulated (nevertheless, this activity cannot be attributed to the activity under the issued license).
Conditions for obtaining Forex licenses in St. Vincent:
- A required number of shareholders: from 1 or more (an individual or a legal entity);
- Lack of the open access to the list of shareholders;
- The presence of a wide range of shares;
- A mandatory presence of a local registered office;
- The presence of a local registration agent.
A preparation of documents
If you intend to order a brokerage license in St. Vincent remotely, then you will need to prepare/submit such documents:
- A notarized copy of the passport (must be certified in English - 2 copies);
- The utility bill for the last 3 months (must contain the address of residence and be certified in English - 2 copies with the original);
- A bank reference letter for the Founder/Director (in English);
- A founder/director resume (in English).
The process of registering a business for a Forex activity
If you decide to buy a Forex license in SVG, our employees are ready to provide you with a full range of accompanying services for registration of all necessary documentation, in particular:
- The collection and preparation of documents, including Due Diligence;
- A preparation of a package of corporate documents with notarization/apostilization of certificates;
- A preparation of AML procedures;
- The submission of company documents to the bank to open an account for operational needs;
- A delivery of corporate and other documents to the client;
Those, who wish to obtain a Forex license in Saint Vincent and the Grenadines, should pay attention to the fact, that the analysis is preliminarily carried out to determine whether registration under a license is required or if activity can be registered as unregulated.
The cost and terms of obtaining an FSA license
- The cost of support during registration for unregulated Forex activity is from 20 thousand EUR.
- The cost of accompaniment in the execution of regulated Forex activities under a license is from 40 thousand EUR.
- In addition, the rent of a legal address and a registration agent is paid (from 350 EUR/month).
- The term of company registration is 2-3 days;
- The term for issuing a license is from 5-6 months.
- Also, we draw your attention to the fact, that dates are indicated taking into account the fact, that all the relevant documents will be provided in a timely manner.
How to order a Forex license for SVG
If you are interested in buying a Forex license in SVG, then IQD Consulting employees are ready to provide you with a wide range of professional services, in particular: support in registration of a Forex company in Saint Vincent, support in opening a corporate account in the bank of SVG, and also accompany in the process of registration of all necessary documentation.
Our company shall not be liable for any direct, indirect or consequential loss arising from the use of the information and material contained in this website.