Jurisdictions for Forex License
Many people wonder what jurisdictions for Forex License will be most optimal.
There are also clients who wish to receive a similar license for brokering and the third category, which is aimed at obtaining an American type license to work in the forex market.
When choosing between licenses provided by certain countries, many prefer the Seychelles and the Virgin Islands, Mauritius and Belize.
Many entrepreneurs prefer the Isle of Man and the Cayman Islands. But despite the fact that the latter, although they belong to the category of offshore, obtaining a license here is very difficult.
Therefore, if you need to choose an effective jurisdiction in order to obtain a license for brokerage, first of all you need to pay attention to the terms, budget and initial registered capital.
TIME FOR RECEIPT AND LICENSE PREPARATION
The deadlines for registration and obtaining a forex license in such jurisdictions as BVI and Mauritius, Seychelles and Belize are identical. Regulators take 3 to 5 months to review the application from the moment the documents were submitted.
It is worth paying attention to the fact that now in the Seychelles there is no process of issuing a forex license. Renewal will be carried out when clear norms and requirements are specified for which this process will be implemented.
Therefore, in any case, Belize is in the lead. But many are wondering, what about the situation with BVI?
A similar question will not arise only for that category of customers who from the very beginning drew attention to such an indicator as authorized capital, which is very high.
It is worth paying attention to the fact that many owners of brokerage organizations in the process of selecting the appropriate jurisdiction do not like when Cyprus or Belize are offered for consideration.
Belize has a key advantage in that it combines the quality of the license with an affordable price.
In Cyprus, there is the only working body that issues investment-type licenses.
At the same time, Cysec has many advantages.
They provide a lot of recommendations and give quick answers, quickly respond to complaints from customers and eliminate them just as quickly.
Among the European jurisdictions that issue forex licenses, it is worth paying attention to New Zealand, Malta and Cyprus.
When comparing them with each other, it is necessary to take into account exactly the same criteria as when comparing offshore jurisdictions.
The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.