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Obtaining a Forex license in Georgia in 2020
Advantages of ordering a license for Forex trading in this jurisdiction:
- A favorable environment for conducting investment activities;
- Low corporate tax rates;
- The ability to provide a wide range of financial services in the EU;
- It is possible to buy an existing company with a Forex license in Georgia.
Obtaining an investment license in Georgia is a profitable option, that makes it possible to conduct activities in countries, that are the part of the European Union. In 2016, Georgia ranked 23 out of 189 in terms of ease of doing business.
To work in the following areas of activity, it is necessary to issue an investment license in Georgia:
- a central, specialized depository;
- a stock exchange;
- the securities’ registrar;
- a brokerage activity.
When you plan to obtain a forex license in Georgia and to engage in financial activities in Georgia, you will first need to register a Georgian company or register a representative office in Georgia. All Georgian forex companies are controlled by the Central Bank of Georgia.
Features of registering a Forex company in Georgia:
- the authorized capital of at least 0,5 million Georgian lari (approximately 203 thousand USD);
- at least 1 of the leading persons must be a resident of Georgia;
- the company must have a registered office in Georgia;
- requirements for education among company executives: it is desirable to have a diploma in economics, finance, banking, auditing, law or accounting.
Requirements for registering a company in Georgia to obtain a Georgian Forex license:
- a notarized copy of the passport (under the apostille);
- the document, confirming the address of residence (a paid receipt for utilities);
- a certificate of no criminal record (under the apostille);
- the autobiography, which should indicate the education and a professional experience;
- a letter of recommendation from an accountant or lawyer (whom you’ve known for several years), who can attest, that you are an honest and reliable person;
- a letter of recommendation from the bank, in which you have opened accounts, confirming the availability of an open bank account (at least 2 years) and that you have no problems with solvency;
In order to apply for a Forex license in Georgia, you need:
- To register a Georgian company.
- To register a representative office in Georgia (a branch office).
Registering a representative office in Georgia is possible by proxy or remotely.
The company is subject to such taxes:
- the income tax is 20% (for salaries to employees in Georgia);
- a corporate tax is 15%;
- a VAT (levied on company turnover of more than 100,000 Georgian lari per year) is 18%.
Georgian Forex license gives the right to carry out the following operations:
- investment advisory services;
- conduct research, publish the information on the research and provide recommendations on investment activities;
- an investment management of its customers;
- a servicing nominal holders of securities;
- the signing of an agreement (with securities) for own funds and in their own interests;
- lend/borrow securities;
- buy securities for the benefit of their customers;
- make a purchase/sale of currency, etc.
You can apply for a license in Georgia with the help of IQD Consulting specialists. We will assist you in opening a company in Georgia, opening an account in Georgia and obtaining a Georgian Forex license for your business quickly and at favorable conditions for you.