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To obtain a banking license in Comoros

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Obtaining a banking license in the Comoros in 2020

Obtaining a banking license in the Comoros in 2020

  • Advantages of obtaining a license for conducting banking activities in this jurisdiction:
  • Favorable conditions for creating a business in the field of financial services;
  • Access to the EU markets;
  • There are 2 main classes of licenses;
  • The possibility of subsequent opening of the payment system in the Comoros;
  • A relatively fast procedure for preparing the required documents.
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Obtaining a license in the Comoros is a new opportunity for entrepreneurs, who want to apply a license for a payment system in the Comoros. Islands are located on the Mozambique Channel in the Indian Ocean. The Comoros intend to become one of the leading offshore centers, that will issue international banking licenses.

You can register a company in the Comoros and obtain a Comoros license with the help of IQD Consulting lawyers. Such licenses are allocated in the Comoros:

  • Class A: for banks with branches on the island of Anjouan, which provide their services both on the international and domestic markets;
  • Class B: for the offshore banking.

You can open a company in the Comoros in a few days, register a banking license in the Comoros for at least 3 weeks. The obtainment a Comoros banking license is a fairly quick procedure due to the lack of bureaucracy. It provides the ability to register a payment system in the Comoros. Obtaining a Comoros Class B permit is possible only for a local company.

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If you decide to start a business in the Comoros, and also obtain a Class B license in the Comoros for your activity, the authorized capital of the company must be at least $100,000. The minimum number of shareholders and directors must be at least one. The company must have a secretary available.

Currently, in order to obtain a banking license in the Comoros, it is worth noting, that all banking licenses issued as a Class B are valid for 1 year.

Offshore international business companies, that obtaining banking licenses in the Comoros, can manage cash flows, use payment or deposit services.

You can receive for personal advice on obtaining a license in the Comoros with IQD Consulting lawyers. Use any form of feedback.

  • The information outlined in the article is actual at the time of its publication.
  • Please refer to our specialists for checking possible solutions for your business.
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