The foreign exchange market is continuing to grow in popularity and volume. You’re probably aware that it’s the largest, most liquid market in the world. But did you also know that the number of new traders has increased by 300% in 2020? This astonishing growth has led to an increase in entrepreneurs looking to get a Belize Forex broker license or similar.
The Forex industry is highly regulated. Therefore, those wishing to operate as a broker should obtain a forex broker license. Several offshore and onshore jurisdictions provide licenses but each one has different limitations, requirements, benefits, and obligations.
For those looking to start an online Forex brokerage, or who want to tap into new markets, this is a good place to start. We will look at the Belize offshore Forex license, what you need, how to apply, and how much it costs!
Why Should I Pick an Offshore Jurisdiction?
Both onshore and offshore jurisdictions have benefits when it comes to operating a Forex broker. Which jurisdiction will have the most benefits for you, depends entirely on your circumstances. A growing number of entrepreneurs and startups are moving away from onshore licensing and exploring the world of offshore jurisdictions. This is due to lower set-up costs, less paperwork, and often, greater fiscal benefits.
Here are some of the reasons why you should consider a Belize offshore forex license.
- Offshore Belize companies don’t pay tax on profits derived from outside the territory. This means if your brokerage has a Belize offshore company, then you won’t have to pay tax in Belize on revenue
- Belize offers a high level of privacy for those operating businesses such as Forex brokerages.
- It also offers protection from creditors and foreign civil claims
- Setup times for an offshore Forex brokerage in Belize are significantly less than in many onshore jurisdictions
- There are no requirements for shareholders or directors to be resident in Belize. The same person can fill both roles.
- Meetings do not have to be held inside Belize.
- No exchange control.
As mentioned, the exact benefits that apply to you will depend on your business. Fast Offshore can advise you on a case-by-case basis.
Belize Forex License Requirements
The basic requirements for obtaining a Belize forex broker license include:
- The formation of a domestic company in Belize. This requires incorporating a company, appointing directors and shareholders, payment of all fees etc
- Directors and shareholders having no criminal record and being of good standing.
- Having a charter capital amounting to $500,000.
- Payment of an annual fee of $25,000.
- A physical office.
- A director represented by a Belize resident.
- Submitting annual reports and other obligations.
- Presentation of a business plan.
Required Documentation for your Forex License
Other documents required include:
- Company charter, articles of association, information and due diligence on shareholders and directors. This will include ID, bank statements, proof of residence, and an up-to-date CV.
- Police conduct certificates from native countries.
- Professional reference letters from bank account provider
- Professional reference from a lawyer or accountant.
- A full business plan including information on who the target demographic will include.
- A completed application form.
All documents must be correctly filled out, signed, and notarized by a Belize notary. In cases where documents are not in English, they should be translated and certified locally. Government-issued documents may also require an apostille.
Belize Forex License Package
Fast Offshore has created a package that includes everything you need to get your brokerage in Belize up and running. Our package includes the following:
- Business plan assistance and drafting.
- The incorporation of a Belize offshore company.
- Preparation of policies including AML/CFT.
- Process of applying for a Vanuatu forex brokerage including preparation and submission of documents.
- Opening of a bank account.
- Two hours of personalized advice and guidance in addition to the services listed here.
We can tailor the package to your exact specifications by including additional services or removing services you don’t need or want. Fast Offshore offers cost-effective solutions for your business’ needs.
Belize Forex License Cost
The cost of getting a Belize Forex broker license will depend on your exact requirements and circumstances. Fast Offshore offers clients a Belize Forex broker license package which includes everything that’s needed to go live. From company incorporation to bank account opening, licensing, compliance and other business services, Fast Offshore can help with our specialised package.
Contact Fast Offshore Today
Since 1998, Fast Offshore has been working in the international business sector. We’ve helped countless entrepreneurs and startups go on to bigger things. We’re experienced in Forex and corporate services and can take care of all the paperwork, while you focus on other matters. With professionalism and transparency at our core, let us help you get your Belize forex brokerage license today!
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