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For Grentone Meta Solution’s licensing solution, we provide secretarial service to both startup and the mature broker dealer companies.

For startup brokers, an offshore International Business Company (IBC) registration can provide significant advantages in terms of cost, regulatory flexibility, and tax benefits. Below are some guidance on registering a broker dealer company, along with some popular jurisdictions for registration.

Choosing the Jurisdiction

Selecting the right jurisdiction is crucial. Consider factors such as regulatory requirements, reputation, tax benefits, and ease of doing business. St Lucia, St Vincent (if you have a license), and some other offshore jurisdictions.

Engaging Us

Most jurisdictions require the engagement of a registered agent who will handle the registration process and provide a registered office address. 

Name Approval and Reservation

Propose a unique company name and submit it for approval to ensure it is not already in use or restricted by the jurisdiction’s regulations.

Preparation and Submission of Documentation

Prepare the necessary documents, which typically include the Memorandum and Articles of Association, copies of passports, proof of address, and details of directors and shareholders.

Payment of Fees

Pay the required registration and licensing fees. These may include government fees, agent fees, and other administrative costs.

Opening a Corporate Bank Account

After the company is registered, open a corporate bank account to handle business transactions. Some jurisdictions may require this as part of the registration process.

Compliance with Regulatory Requirements

Ensure ongoing compliance with the jurisdiction’s regulatory requirements, which may include annual audits, filing of financial statements, and adherence to anti-money laundering (AML) regulations.

The reporting requirements for an IBC and a regulated company differ in many aspects. If you would like to understand more about this difference, please feel free to reach out to us for an inquiry.  

License Solution

St. Lucia offers a favorable destination to register an International Business Companies (IBCs), including those engaged in forex and CFD trading. Here’s a guide on the registration process and requirements of registering a forex IBC in St. Lucia.

Benefits of St. Lucia IBC Registration

  1. Confidentiality: Strict confidentiality provisions to protect the privacy of shareholders and directors of St. Lucia IBCs.
  2. Ease of Operation: Simplified reporting requirements and flexible corporate structures make it easy to manage and operate a St Lucia IBC.

  3. Stability: Politically stable, providing a secure environment for conducting international business.

Registration Process

1. Name

Choose a unique name for the IBC and verify its availability with the Companies Registrar.

2. Documents

Prepare and submit documents:

    • Memorandum and Articles of Association.
    • Identification documents (passports) and proof of address for shareholders and directors.
    • Income declaration
    • Bank reference letter
    • Declaration of compliance with the International Business Companies Act.

3. Registered Agent and Office

Appoint us as your secretary, and we will work with our registered agent in St. Lucia to act as the intermediary between the IBC and the governing Companies Registry.

Maintain a registered office address in St. Lucia.

4. Capital Requirements

There are no specified minimum capital requirements for IBCs engaged in forex and CFD trading. The capital structure can be tailored to your business needs.

5. Submit and Approve

Submit application and all required documents to the Companies Registry. Pay applicable fees.

6. Issuance

Upon approval, the Companies Registry issues a Certificate of Incorporation, confirming the establishment of the IBC.

7. Post-Incorporation Requirements

Maintain proper accounting records, although no audit requirements for IBCs.

Conduct annual meetings of directors and shareholders, which can be held anywhere in the world.

File annual return with the St. Lucia Companies Registry and pay annual license and agent fees.

Conclusion

Registering a forex and CFD IBC in St. Lucia offers numerous advantages, including tax efficiency, confidentiality, ease of operation, and political stability. By leveraging these benefits, businesses can establish a solid foundation for conducting international trading operations.

Reach us for more information. 

Mauritius is a highly reputable jurisdiction for forex brokers due to its robust regulatory framework, and favorable business environment. Obtaining an Investment Dealer License in Mauritius allows forex brokers to operate legally and attract clients globally. Here’s a guide on the application process, requirements, and benefits:

Regulatory Authority

The Financial Services Commission (FSC) of Mauritius is the regulatory authority responsible for overseeing and issuing Investment Dealer Licenses.

Types of Investment Dealer Licenses

The FSC issues 3 types of Investment Dealer Licenses:

  1. Full Service Dealer (Including Underwriting)
  2. Full Service Dealer (Excluding Underwriting)
  3. Discount Broker

Application

1. Company Registration

Incorporate a Global Business Company (GBC) in Mauritius. Prepare and submit necessary incorporation documents, such as Memorandum and Articles of Association, to the Registrar.

2. Capital Requirements

The minimum stated unimpaired capital requirements vary based on the license types.

3. Fit and Proper

Directors and significant shareholders must meet FSC’s fit and proper criteria. Need to provide:

    • Certified copies of identification documents (passports).
    • Proof of address (utility bills or bank statements).
    • Detailed CVs.
    • Police clearance certificates.
    • Bank proof of funds
    • Bank recommendation letter

4. Business Plan

A comprehensive business plan on the company’s business model, target market, organization structure, financial projections, and risk management practices.

5. AML/CFT Procedures

Establish and document robust AML and CFT procedures in compliance with FSC requirements.

6. Compliance

Appointment of a qualified Compliance Officer responsible for ensuring adherence to regulatory requirements.

7. Office Space

Secure a physical office space

Application Process

  1. Prepare and Submit: Prepare the application form and gather all required documents, including the business plan, AML/CFT procedures, with fit and proper documentation.
  2. Payment: Pay for the application and licensing fees. The fees vary dependent on the type of license.
  3. Review and Approve: The FSC reviews the application, which may involve requests for additional information or clarifications. The review includes an assessment of the financial soundness, business plan, and compliance procedures of the applicant.
  4. License: Upon satisfactory review, the FSC grants the Investment Dealer License, allowing the company to commence operations.

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Labuan, Malaysia, offers a favorable regulatory environment for financial services, including money service brokerage. Here’s a comprehensive guide on the application process, requirements, and benefits of acquiring a Money Service Broker License in Labuan.

Regulatory Authority

The Labuan Financial Services Authority (Labuan FSA) is the regulatory body responsible for issuing and overseeing Money Service Broker Licenses.

Application

1. Company Registration

Incorporate a Labuan company. This involves preparing and submitting incorporation documents to the Labuan Companies Registry.

2. Capital Requirements

Demonstrate a minimum paid-up capital of MYR 500,000 (approximately USD 120,000).

3. Fit and Proper Criteria

Directors, shareholders, and key personnel must meet the fit and proper criteria set by the regulator, including:

    • Certified copies of identification documents (passports).
    • Proof of address (utility bills or bank statements).
    • Detailed CVs.
    • Police clearance certificates.

4. Business Plan

Submit a comprehensive business plan that includes:

    • Detailed description of the services to offer
    • Target market and marketing strategy
    • Organization structure
    • Projections
    • Risk management and compliance practices

5. AML/CFT

Establish and document robust AML/CFT procedures in compliance with local regulations.

6. Compliance Officer

Appoint a qualified Compliance Officer that ensures adherence to regulatory requirements and AML/CFT measures.

7. Office Space

Secure a physical office space in Labuan

Application Process

Prepare and Submit: Prepare the application and gather all required documents, AML/CTF procedures, and fit and proper supporting documents.

Payment: Pay all applicable fees as stipulated by Labuan FSA and agent.

Review and Approve: Labuan FSA reviews application, which may involve additional information or clarifications. Process includes an assessment of the applicant’s financial soundness, business plan, and compliance practices.

License: If satisfactory, Labuan FSA grants the License, allowing the company to commence business.

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