Vanuatu is a fabulous place for starting forex brokerage business due to its low capital demands and type of tax benefits.
Incorporation & receiving a license: within 30 days
Minimum paid-up capital: No least capital requirement. Rather, government bond of approx. Pound 39,000 is utilized.
License form charge: 180 Pound+VAT
License renewal: Pound 140+VAT that is about USD 200+VAT
Representative’s license: Pound 70+VAT that is about USD 100+VAT
Vanuatu, formally the Republic of Vanuatu is an archipelago in the South Pacific Ocean, east of Australia west of Fiji and North of New Zealand, holding a chain of 13 principals and many smaller islands.
To get a license it is required to establish a company. This method is comparatively fast.
Vanuatu offers a high level of confidentiality for beneficiary partners, stockholders, and officers. Moreover, the business is spared from capital gains, tax on earnings and stamp duty after incorporation for 20 years.
Financial services in Vanuatu are controlled by Vanuatu Financial Services Commission (VFSC). Vanuatu is an exceptional location for forex brokers with a limited amount of supplies because capital (or bond) demands are relatively small.
Application for a Principal’s license or a Representative’s license is not stiff and primarily needs to produce a set of fundamental information for the candidate. Furthermore, it needs to confirm and to present information of past or existing projects associated with financial services and supplementary information concerning any adverse experience or records linked to the candidate. It enables to hold the appellant responsible in case of any submitted inaccurate information or for actions that will be made and overall, it regulates the issuance of Vanuatu forex license.
The forex brokerage license can be acquired based on Dealer’s in Securities (Licensing) Act [CAP 70] by natural or juridical persons. Furthermore, the customers can profit from this license since it authorizes the holder to manage the collection of investments and to work with securities (sell and buy) for the client or even on his behalf.
The legal statutes of Vanuatu provide a broad meaning of Securities, hence enabling to operate with:
- shares in the share capital of a company; or
- an instrument that produces and recognizes the indebt securities that is published by a company or a public office including:
- debentures; or
- debenture property; or
- loan stock; or
- bonds; or
- certifications of deposit; or
- a right, despite whether or not given by warrant, to subscribe for shares or debt securities; or
- a right under a depositary receipt; or
- an opportunity to obtain or dispose of any security dropping within any other provision of this Act; or
- a right under a treaty for the procurement or disposal of the related securities under which the delivery is to be executed at a future date and at a price accepted when the contract is made in accordance with the terms of that agreement; or
- the interests of Foreign Exchange or FOREX; or
- the profits of precious metals; or
- the interests of commodities.