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Vanuatu Forex License

FX brokerage services are regulated by the Financial Dealers License Act [CAP 70] effective from 16 June 2017. We assume would be trading using a Vanuatu entity, but not in Vanuatu, in this case a Vanuatu international company would be appropriate entity (it cannot conduct business in Vanuatu)

An application can be made for a Financial Dealers License under this act by a Vanuatu international company or by an individual, who is a Director / Officer of the company.

An application for a Principal’s Licence takes approximately 10 days to 2 weeks to process. The licence is renewable annually by completing an application again and paying the yearly fee.

More information and the quotation you can obtain from BRIS GROUP professional advisers.

Vanuatu LTD Formation Requirements and General Obligation for Financial Dealers License

Company Formation

Type of entity need to be required to be eligible for Investment Dealer license

International Business company

Constitution

Constitution is required.

The timeline for incorporating an International Company

From 1 week

Directors

Can be appointed from any nationality and country

Corporate director

Corporate director is allowed

Annual Meetings requirement

No annual meeting is required

Registered agent

Yes, licensed registered agent is required

Registered office

Must at all times have a registered office in Vanuatu

Minimum capital

No minimum capital requirement

The value of shares

Either par value (which may be stated in more than one currency) or no-par value shares.

The form of shares

Registered shares, preference shares, redeemable shares and shares with or without voting rights.

Shareholder

Both individual and corporate bodies are allowed to be shareholders

Bearer shares

Not permissible

Local auditor

Must have a local auditor

Local bank account

Local bank account is not necessary to open

Annual tax return requirements

Must file an annual tax return with the Mauritius Revenue Authority (MRA);

Requirements for audit

Must file audited financial report, not later than 6 months after its financial year end

Confidentiality and security of Beneficial owners

Names of shareholders and beneficial owners must be disclosed to the VFSC.

Public records

No information regarding its shareholding, accounts or activities are publicly accessible

The main condition for obtaining a Mauritius Forex license

Who approves the license in Vanuatu

VFSC

The main legal framework

Financial Dealers License Act [CAP 70] effective from 16 June 2017

Time to register a license

Approximately 10 to 12 days time

Capital (bond deposits) requirements

Bond deposite 5 000 000 VT

Physical office requirement

No, you not allowed to trade within Vanuatu

Requirements of local employees

Not required

Staff Qualification

Not required

Requirements of business plan

Business plan required

Double Taxation Agreements

Yes

Taxation

No corporate tax

Tax on income or dividends

No tax on income or dividends

Capital gains tax or inheritance tax

No capital gains tax or inheritance tax

Financial Statements

Require to provide quotarly

License Requirements

License requirements will depend on the business activity, ownership form, location, number of employees etc. Having an appropriate license for your business will avoid high penalties and even closure of a business by local authorities.

We can give you advice on the type of license you require in the chosen offshore jurisdiction as well as the help to obtain them. Please contact us for further information.

Credibility of business license

Knowing that the business is licensed and possess the necessary permits and registration will attract future customers as well as investors.
Separation of business and personal taxes.
Liability protection. Personal protection from future claims on your business thus limiting personal risks.
Access to various business groups and organisations.
Confidentiality as no personal details would have to be revealed.

We can help you decide where to register your offshore company, depending on your requirements, and we have numerous options available. There are a number of factors to be taken into consideration when applying for an offshore business license, and BRIS Group are here to help with expert advice on hand whenever you need it.

Other business license & permission services

Call us today, and get your business off to the best possible start.

We provide a wide range of offshore companies formation, administration and fiduciary services for internal and external clients worldwide. We help to maintain an offshore company in accordance with the regulations, laws and tax authorities of the foreign state in which it is registered for non-resident clients.