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Obtaining a Belize FOREX license

Michalaki, Pitsillidou Law Firm > English Articles  > Obtaining a Belize FOREX license

Obtaining a Belize FOREX license

Times have changed. Many jurisdictions have stopped licensing in this profitable arena. Get and keep continuous legal advice from a knowledge licensed attorney and tax advice from a licensed accountant. Our iMPK Global Business Law Firm, can help you obtain your own trading license. Naturally we recommend that you operate legally, ethically and responsibly. The key is to be sure that you have a legitimate license. By securing your FX trading license through Offshore Company, you can feel confident that you are working with a professional and experienced Law Firm and that the documentation is authentic and has been legally and correctly filed. That is where Offshore Company can help. So, the Internet has been inundated with companies selling artificial licenses. Because of our direct contacts in foreign jurisdictions, we can obtain broker licenses with minimal paid up capital. Moreover, we can obtain the licenses within a relatively short time. With a license one can legally offer trading, subject to your legal counsel’s advice. The license allows one to conduct business around the globe through the internet. One may also elect to open branches in multiple locations. Obtaining a license typically takes 2-4 weeks depending on government processing times and your speed in providing us with the legally required, yet simple, due diligence.

Forming a Belize Company offers investors a competitive environment to develop an FX business within. Belize is the preferred choice amongst many investors, for reasons including complete tax-free international operations, combined with high levels of privacy for companies registered in this location. This is appealing to clients who wish to carry out financial activity with utmost confidentiality.

When applying for a Belize license you will be applying to the Belize International Financial Services Commission (IFSC), who is responsible for licensing and regulating any firms that provide financial, brokerage and consultancy services for securities trading and money lending. They are also responsible for ensuring that brokers do not allow trades with residents of Belize. In addition, they are responsible for drafting and implementing laws that are specific to Belize license holders.

In order to obtain a Belize license it is important to form a company specifically for the purpose of providing FX services to your clients. You will need to submit a range of documentation including legal certification that demonstrates the internal and external operations of your company. Furthermore, when applying to the IFSC for your license, it is important to submit a minimum capital amount that is required by the IFSC to be placed into a Belize bank account. In addition, it is important to fulfill the requirements of a fit and proper test prior to completing the licensing procedure of your company.

  • Any nationality can be director or owner

  • Simple due diligence requirements

  • Quick approval

  • Very affordable license fees

  • Low cost renewal fees

  • Operate around the globe

  • Minimal capital deposit

  • No bookkeeping reports required

  • No accounting reports required

  • No audit reports

  • Low cost to own and operate

What Is Included With Your License

  • The registration of the  license

  • Name check

  • Legal verification

  • Company filling to gain legal protection

  • Preparation and registration of the license application documents

  • Filling and registration with notary and government officials

  • Certification by notary

  • Filling fees

  • Corporate kit and record book

  • Registration and license certificates

  • Board meeting minutes documents

  • Bank account opening resolution

  • Office rent resolution

  • Resolution to choose a company attorney

  • Resolution to choose an accountant

  • Agreement of employment

  • Nondisclosure agreement for employees

  • Noncompete agreement

  • Power of attorney

  • Director Registration

  • Shareholder register

  • CD containing business forms

  • Forming a Belize broker company can prove advantageous for a number of reasons. Belize is an attractive location for business, as it has a strong and well regulated infrastructure in a financially and economically stable jurisdiction.

Belize Brokerage License

We receive many inquiries about a cost effective way to license brokerage services. Hence, we thought we should expand on the viable low-cost Belize Brokerage License option.

This vehicle represents one of the most inexpensive regulated brokerage options available anywhere in the world for setting up a (and/or securities) brokerage firm. Other relatively low cost options include BVI and Mauritius with lower paid-in capital requirements but higher regulatory hurdles to overcome. The New Zealand FSP also was a popular option but as of January 2015 the New Zealand FMA has been scrutinizing all FSP applications for trading and has been delaying providing any decision.

Belize’s foreign exchange trading license serves allows one to:

  • Operate as a  brokerage firm

  • Provide an online trading platform for your clients to make their own trades

  • Provide related services for your clients to open their own trading accounts with your firm

  • Provide convenient access to their accounts via debit cards

  • Provide additional full service brokerage options

  • Provide managed  trading options

The above measures still do not determine the approval and granting of this license and it will be up to the Director General to make his decision. However, if the background and experience of the principals is good, there is no reason to expect a decline.

 No local directors are required and no physical operation or employees are required in Belize to operate such a licensed company.

What are the minimum requirements for setting up a Belize Offshore Company?

Basic Belize International Business Company (IBC) must include at least:

  • one Director (individual)

  • one Shareholder (individual or corporate)

  • Registered Office Address in Belize (PO box is not allowed)

There is no prescribed minimum share capital. Usual amount of shares Belize Government will issue is 50,000 of USD1.00 each inclusive.

At last, the minimum requirement to form a Belize IBC is one Shareholder/Director who can be the same person.

For more information and guidance get in touch with our lawyers or email iMPK Global Business Law Firm – Cyprus Lawyers, at info@impklawyers.com .Tel. +357 99345000 – Fax +357 25 660097.

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