Forex license in Comoros

Comoros is an island nation located in East Africa. The forex industry is one of the leading sectors of the economy in this jurisdiction. Due to its advantageous geographical location and low tax rates, Comoros has undeniable advantages for conducting business in the field of finance and investment. The regulator of forex brokers in the jurisdiction is the Ministry of Finance and Budget, which issues permits for activities in this area.

What are the advantages of a brokerage license in Comoros

• fast processing time – about 3-4 weeks after submitting documents;
• the jurisdiction is not on the EU blacklist, so there will be no problems with international transactions;
• the license is issued for any type of financial services, including brokerage, forex, and crypto services;
• the requirements for obtaining a license are significantly lower compared to other jurisdictions;
• there are no requirements for contributing authorized capital;
• no requirements for directors/shareholders and AML manager;
• it is not necessary to have a local office;
• standard KYC documents are required to obtain a license.

What activities are covered by the license

• Forex trading;
• CFD brokerage operations;
• operations with stocks and other securities;
• financial consulting;
• asset management, fund management;
• depository activities;
• clearing;
• issuance and placement of securities.

How to obtain a license in Comoros

Forex activities in the Comoros are controlled by the Financial Commission. The application is submitted to Comoros Services LTD. At the same time, the applicant can apply for the opening of an International Business Company (IBC).

Along with the application for a permit to engage in brokerage activities, it is necessary to provide:

• business plan;
• detailed information about beneficiaries, including business and legal information;
• information about shareholders and their ownership shares;
• resumes of directors;
• charter, certificate of company registration, etc.;
• the latest financial statements (if available).

If you want to start forex activities in the Comoros, IT-OFFSHORE specialists will help you properly prepare the documents to quickly obtain a license. It is also possible to purchase a ready-made business with a full package of documents.