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Obtaining a Forex license in Vanuatu in 2020
Advantages of obtaining a Financial Dealers License in Vanuatu:
- Popular jurisdiction for setting up a Forex company;
- Availability of tax incentives;
- Low cost of a license;
- The ability to provide financial services in any country;
- A relatively fast process of establishing and licensing a business.
Forex - is an interbank international currency market (a place where transactions for the purchase/sale of all major types of currency are conducted). Forex is considered to be an OTC market, that looks like a global informal network of trade relations (including all banks, pension funds, insurance companies, multinational corporations, private individuals). All trading operations in all major currencies are conducted on the Forex market.
At the moment, one of the most popular offshore jurisdictions is considered to be Vanuatu. Vanuatu is the cheapest Forex licensed jurisdiction in the world.
Opening a company in Vanuatu has many advantages:
- the company is not taxed;
- a confidentiality;
- a fairly simple registration procedure, that does not take a long time;
- the accounting is not required;
- no currency control.
Before you obtain a Forex license, you need to set up a Vanuatu company. A basic information:
- The minimum number of shareholders/directors is 1 (a shareholder can be an individual or a legal entity of any nationality, the position of director can be held by citizens of any country except Vanuatu). Allowed to have corporate directors.
- There are no minimum share capital requirements.
- Vanuatu company is not taxed.
Key benefits of Vanuatu Forex license:
- A director/owner can have any residency;
- The quick and easy registration procedure;
- The opportunity to work in any country;
- There are no requirements for conducting an audit, the accounting;
- There are no requirements for having a local office and staff;
- A minimum registered capital is 48,000 USD;
- An authorized capital is not blocked;
- The cost of a license in Vanuatu is significantly lower in other jurisdictions;
To register a Vanuatu company and obtain a license in Vanuatu, it is necessary to provide scanned copies of such documents:
- A scan copy of the passport (certified by a notary) of each beneficiary (with photo).
- The document, confirming the residence/registration address of each beneficiary. As a supporting document, you can provide: a receipt for utilities in the name of the beneficiary, a bank statement (for account or credit card transactions), an extract from the register of tenants, etc. You can also provide a residence permit from an internal passport. Please note, that the supporting document must be in English and notarized.
- A document, indicating the absence of a criminal record (must be in English, under the Apostille).
The terms for obtaining a license in Vanuatu are 4-6 weeks (registering a Vanuatu company takes about 2 weeks).
We provide our customers with two licenses, one for the company, the other for any individual representing the interests of the company.