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A Forex license - Panama

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Obtaining a Forex license in Panama in 2020

Advantages of ordering a brokerage license in Panama:

  • Popular jurisdiction with favorable conditions for doing business;
  • Attractive tax conditions;
  • The ability to provide financial services to customers from all over the world;
  • The ability to obtain a license within a short period of time.
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Today, the Republic of Panama is an attractive jurisdiction for many offshore companies. Entrepreneurs, who want to apply for a Forex license in Panama, must apply for a license for financial services.

Registering a Forex license in Panama allows a Panamanian company to carry out any of these activities:

  • The implementation of trade in the Forex currency market;
  • The implementation of financial services (a leasing);
  • The implementation of financial services (a factoring);
  • A precious metals trading.
To obtain a Forex license in Panama, advantages:
  • A quick registration of a Forex license - 15 business days to register a Panama corporation and to open an account in Panama, 30 business days to issue a local license.
  • No need for a real local office.

In order to obtain a Forex license in Panama you need to have a registered capital of $150,000

The board of directors must consist of at least 3 legal entities or individuals. All beneficiaries must provide an extract from the bank on solvency, and also confirm, that their activities are legal. All beneficiaries, who want to open a company in Panama and to obtain a Forex license in Panama, must prove their competence in doing business.

Entrepreneurs, who want to apply for a Forex license in Panama, are considered competent, if members of the company have held similar positions in private or other organizations for a period of at least 2 years. At least one third of the members of the Board of Directors should have knowledge and experience in matters related to stock markets or the financial sector.

Be sure to include the number of key managers, who must have the appropriate licenses, issued by the Commission. Each broker-dealer must at least appoint one person as the chief executive officer.

Choosing the right jurisdiction to establish a Forex brokerage firm is a priority to maximize business success. A license in Panama is issued by the Department of Commerce.

Obtaining a financial license does not allow Panamanian companies to carry out regulated types of entrepreneurship, namely:

  • Securities trading, dealerships, etc.
  • A Credit Union;
  • Savings and loans;
  • A trust company;
  • A currency exchange.

All actions are subject to regulation by the Government of Panama, and all of them should be carried out only after obtaining Panamanian permits.The registration fee for issuing brokerage permits in Panama is $5,000

The annual state tax payable to the Superintendent is 0,0025% of the annual turnover min. 5,000 US dollars, not more than 100,000 US dollars

You can learn, how to get a Forex license in Panama, receive personal qualified advice with IQD Consulting specialists. Use any form of feedback.

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