Obtaining a license for brokerage and trading activities, it is worth considering the peculiarities of taxation in each land. The conditions will be different everywhere. However, in most countries, brokers pay taxes on personal income and corporate taxes if they are registered as legal entities. Conveniently contact us, we will advise you in detail about the peculiarities of the tax regime in the selected territory.
In almost any country, for registration, you will need to provide information about the company (certificates, office address, and website). You also need to confirm the education, work experience, and reputation of the top officials. All licensors are required to develop customer verification and asset protection policies to protect against abuse.
The forex license cost and procedure of acquiring depend on the selected country. The most expensive and reputable authorizes are in Switzerland (certified capital – 10 million Swiss francs) and the USA (capital – 20 million dollars).
Countries with category B forex licenses include the United Kingdom and Australia. The minimum capital amount is EUR 125 thousands (excluding customer funds), and the period for acquiring a license usually is about 12 months and will cost from $22,000 to $50,000. For example, capital amount of forex license in the UK is 125,000 EUR.
You can also obtain it in Hong Kong, Singapore, Panama, Latvia, Czech Republic, Estonia, Ireland, Bulgaria, Gibraltar, Mauritius, and many other countries. Such countries as Nevis and Seychelles may be suitable for novice brokers.