When it comes to forex broker licenses, applicants can choose between onshore and offshore. However, the Vanuatu Forex License has become an increasingly popular location for offshore forex brokerages. Both established names and startups have sought it out as a jurisdiction that provides a favourable environment for building a successful forex business.
There are several benefits to a Vanuatu forex brokerage license including minimal ongoing requirements and obligations, tax efficiency and a reasonable time frame in terms of the application process. It’s also worth noting that Vanuatu has a lower capital requirement for forex companies meaning it’s more accessible to smaller businesses and those just starting.
Why should I pick an Offshore Jurisdiction?
Conducting business via an offshore jurisdiction is becoming increasingly popular. More and more business owners are seeking offshore solutions for companies, licensing, and banking. Fast Offshore recommends offshore licensing for several reasons. These include:
- The ability to buy, sell, trade, and store assets and securities on behalf of your clients with lesser restrictions.
- More flexible and welcoming working environments.
- Zero tax rate on all income/profit generated outside of the country.
- Jurisdictions that are more familiar and suited to forex businesses.
- Less paperwork than onshore jurisdictions.
Vanuatu Forex License Requirements
There are some requirements for the Vanuatu forex brokerage license. These include, but are not limited to the following:
- Being of good standing. This means that all individuals in a position of responsibility and authority within the company, must not have a criminal record. They will also be assessed for professional suitability such as qualifications and work experience in a relevant field.
- Financial good standing. The Vanuatu authorities also want to be sure that those involved in the applying entity are responsible when it comes to finances and do not have a history of bankruptcy or other financial issues.
- Standard due diligence will also be performed including verification of identity and proof of address.
- A business plan must also be provided that will include detailed information on who the target market is and where they are located.
- The brokerage must appoint an AML/CFT compliance officer who must report periodically to the authorities.
To find out more about what the Vanuatu authorities will expect from applications, contact Fast Offshore. We have years of experience in guiding our clients through the process of acquiring a Vanuatu forex broker license and can provide you with information on what to expect.
Applicants will be asked to submit several documents as a part of the application process. These will vary depending on each circumstance but as a standard, all the following documents are required for any and all Directors/Officers, Shareholders and Beneficial Owners. They must not be older than 3 months:
- Certified Passport Copy
- A government-issued certificate to ensure there are no criminal records
- A declaration stating there is no history of bankruptcy
- Original or Certified Copy of Bank Reference Letter
- Utility bill showing proof of address
- Copy of up to date CV demonstrating all experience and qualifications that are relevant to operating a forex brokerage or similar.
- Information on who the target audience and market will be.
These documents should generally be no older than three months and should be certified, and in some cases, apostilled and translated to English.
Vanuatu Forex License Package
Based on our two decades of experience, Fast Offshore has created a package that includes everything you need to get your brokerage in Vanuatu up and running. Our package includes the following:
- The incorporation of a Vanuatu offshore company. This can be a parent company or a holding company and enjoys a zero tax status in a friendly, flexible, and welcoming corporate environment.
- Business plan assistance and drafting.
- 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.
If there are other services you need or want, don’t worry. We can tailor the package to your exact specifications. Just let us know and we will make the changes with full transparency every step of the way. We will never charge you for something you don’t need and we guarantee to provide the most cost-effective solutions for your business needs.
Vanuatu Forex License Fees
How much the entire process costs will depend on many factors. This includes the exact type of forex brokerage you will operate, how many directors and beneficial owners there are, the type of company you will incorporate, and other matters such as banking and payment providers. It will also depend on whether you opt for a package or a more custom made approach.
The best way to get an idea of the costs is to contact us. Fast Offshore will listen to your plans and give you our advice on the best options and how much it will cost.
Since 1998, Fast Offshore has been working with clients to acquire financial licenses in various jurisdictions. We have demonstrable experience with forex brokerages as well as all corporate matters relating to establishing a business of this kind. What’s more, is that we know Vanuatu and have established professional relationships with the authorities meaning we can guide you through the application process smoothly.
Even if you’re not sure if Vanuatu is the place for you, we can help you evaluate your options and make the right decision. Contact us today for more information.
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