Why Successful Forex Brokers Opt for a Forex License in Vanuatu
Forex brokers are becoming increasingly popular in the marketplace but a Forex license is essential for the convenient and successful operation of a broker company. Forex license holders are more trusted by clients, banks and merchant service providers.
There are quite a few jurisdictions issuing the license. Looking at offshore locations, many businessmen choose a Vanuatu license.
Tax concessions and relaxed regulator requirements is what business owners find appealing. In this article we will talk about the advantages of the Forex license in Vanuatu and how to get it.
Forex license in Vanuatu: key benefits
Why successful brokers opt for the Vanuatu Forex license:
- High level of confidentiality for owners, shareholders and officials
- Wide selection of processing and acquiring solutions for the project
- License issue time — within 3 months
- Companies are not subject to foreign exchange controls and are exempt from tax for 20 years
- Low authorized capital requirements and minimum financial statements
Getting a Forex license in Vanuatu: authorized capital
A small authorized capital is one of the key advantages of the Vanuatu Forex license. The current required amount is $50,000. This amount is not blocked and must be available in the account at the time of license issue.
How does one obtain a Forex license in Vanuatu: broker requirements
Brokers must meet the following requirements:
- Company registered in Vanuatu
- Company structure: beneficiary owner, director, 2 AML officers
- The director must have at least 5 years’ experience confirmed by letters of reference
- Professional indemnity insurance for employees to protect investor funds against financial losses. The insurance policy costs $10,000 to $15,000.
Forex license in Vanuatu: pitfalls
The SBSB team cares about their customers so we should warn you about potential legislative amendments. Vanuatu regulator may impose stricter rules for brokers due to the pressure of major global regulators. Vanuatu intends to make a number of changes applicable to Forex brokers:
- Presence of a physical office in Vanuatu where all documents shall be kept
- Appointment of a permanent director staying in the country for at least 6 months of the year
SBSB lawyers will look after your business and inform you about all the amendments as soon as they come into force.
A Forex license in Vanuatu is a great solution for launching a broker company irrespective of the potential legislative changes. Many established companies got their Forex license in Vanuatu and enjoy successful operations: NordFX, xDirect, Accent Forex, Worldforex, BMFN, Gerchik&Co, Forex Chief, TradeFred, Binary.com, Expert Option.
Should you have any questions, do not hesitate to contact us via our Telegram chat and get a free consultation.