You are young, energetic, ambitious? You dream of having your own brokerage business? Welcome to Vanuatu, a tropical paradise for forex brokers. This is a tiny state located on 83 islands in the Pacific Ocean. Having failed to make tourists fall in love with its lovely scenery due to frequent earthquakes, the government of Vanuatu decided to turn the country into enticing offshore hub for financial companies.
To go to Vanuatu to get a license? Isn’t it a bit too far?
Well, yes. The country isn’t within an easy reach, luckily, you don’t have to actually move there to obtain the Securities Dealer License (SDL) that gives the right to trade financial instruments and manage capital on behalf of the broker’s clients.
The licensing procedure is very simple: just submit the application to the Vanuatu Commission of the Financial Services and wait for 2-3 months.
How much we are talking?
Currently the capital requirements for brokers that wish to obtain the SDL license in Vanuatu do not exceed $2000, which is far less than in other popular offshores, such as Belize or Seychelles. This is an absolute advantage for a novice broker, who’s every penny counts.
There is another $8000 to be paid for the application and annual expenses for the registered office, secretarial services and management of the company on the territory of Vanuatu. Anyway, these costs are still much lower than in other jurisdictions.
What else does Vanuatu have on offer?
– Zero tax rates, including taxes on income earned outside the jurisdiction.
– No currency controls and no need to report on cash flows.
– The highest possible level of confidentiality: under the Law of Personal Data Protection only company name and the contact details are disclosed.
– No need to open and maintain a physical office in the territory of the country – registered address is all you need.
In other words, Vanuatu is a young but very promising and economically attractive offshore with comfortable conditions for obtaining licenses and tax-heaven arrangements. It is a perfect solution for a brokerage startup.
Need more details on obtaining Vanuatu license for forex brokers? Just get in touch with us. We will be happy to assist you.