Forex License in Anjouan
Obtaining a Forex License in Anjouan is one of the best ways to quickly and easily start a legal business in the Forex market. Gofaizen & Sherle provides full support for company registration and licensing..
Anjouan is one of the self-regulated islands of the Union of Comoros. Until recently, this jurisdiction was not very popular among brokers who preferred licensing in Curacao. However, after the tightening of regulation and additional requirements for obtaining a forex license in Curacao, Anjouan has become a popular place to start and scale a forex business due to its low cost, simple licensing process, and loyal legislation. The license allows you to manage, operate, and trade a platform for trading currencies and securities.
To obtain an Anjouan forex license, fairly standard requirements must be met. For example, registering for a company, developing AML/KYC procedure policies, and having a share capital. There is no requirement to have a local office or appoint local agents/directors.
Anjouan Comoros Forex License is becoming increasingly attractive for businesses, especially in the investment and financial sector. The jurisdiction’s strategic location and lack of income tax attract global investors and entrepreneurs looking for a favorable business environment.
Advantages of the Anjouan Forex License
Easy registration
Registering a company and obtaining a license in Anjouan has more flexible and easier rules than other jurisdictions. This makes the whole process much simpler and saves time for companies to get started efficiently.
Loyal taxation
For all foreign companies incorporated in Anjouan, there are tax benefits: no income tax and no corporate tax. This allows to reduce operating costs and focus on strategic investments.
Open access to the market
The forex market in Anjouan does not have a list of banned countries, allowing a wide range of participants to trade. However, it is important for companies to strictly comply with international regulations.
Stable legal environment
Anjouan ensures compliance with the standards set by the international community. Including anti-money laundering (AML) and counter-terrorist financing (CFT) laws to ensure the safety and legitimacy of the activities of companies under their regulation.
High level of confidentiality
Companies incorporated in Anjouan enjoy a significant level of confidentiality. This is due to the strict corporate data protection laws in place on the island. This is particularly appreciated by those companies that seek to maximize the protection of their commercial data and corporate anonymity.
Developed infrastructure
The island of Anjouan boasts a highly developed infrastructure, including modern office complexes, an extensive communications network, a variety of transportation facilities, and other amenities that are essential for the successful operation of businesses.
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Packages of services for forex license in Anjouan
Forex Company Registration including corporate account setup and local services
- Complete offerings from the Extended package
- Provision of a local Director for one year
- Provision of a local office address for one year
Forex Company Registration with support for opening a corporate account
- Comprehensive services included in the Basic package
- Support in opening a corporate account
Forex Company Registration meeting basic regulatory requirements
- Personalized guidance from a dedicated consultant
- Comprehensive assistance with the entire company formation process
- A complete set of corporate documents
- Assistance with the application for a Forex License
Requirements for obtaining the Anjouan Comoros Forex License
When it comes to the requirements for Anjouan Forex License, it should be noted that they are actually, quite simple. If you meet all the conditions, the licensing process will take minimal time and effort:
You need to register a company in Anjouan.
Every beneficiary, director, shareholder, and any key individual in the company must undergo a thorough review of personal documentation and proof of impeccable reputation.
The company must develop AMK/KYC policies and appoint an agent to oversee the compliance process.
Prepare a minimum authorized capital stock of $50,000 or more.
When it comes to the requirements for Anjouan Forex License, it should be noted that they are actually, quite simple. If you meet all the conditions, the licensing process will take minimal time and effort:
- You need to register a company in Anjouan.
- Every beneficiary, director, shareholder, and any key individual in the company must undergo a thorough review of personal documentation and proof of impeccable reputation.
- The company must develop AMK/KYC policies and appoint an agent to oversee the compliance process.
- Prepare a minimum authorized capital stock of $50,000 or more.
Process and timeline for obtaining a Forex License in Anjouan
To obtain an Anjouan Forex license you will need to fulfill certain requirements in the following order:
Company Registration
Step 1
- Registering an International Business Company (IBC) involves filing a name application and a complete set of documents through an approved service provider. You will need to provide documents to support the structure and management of the company and obtain the appropriate work authorizations depending on the type of business.
Gather Documents
Step 2
Prepare the following set of documents:
- corporate documents
- a realistic business plan, taking into account financial risks and projections
- certified copies of beneficiaries’ documents
- proof of criminal record
- proof of place of incorporation (utility bill)
- developed AML/KYC policies
- legal letter of recommendation
- proof of authorized capital
Payment of state duty
Step 4
- Payment of the non-refundable application fee is a mandatory step in the application process. The application fee is usually intended to cover the administrative costs associated with processing and reviewing documents. Before paying the fee, it is important to clarify the amount of the fee, and how it is to be paid and confirm all details with the authority accepting the application.
Obtain a license
Step 5
- Within 30 days, the regulator will review your application and if the application is approved, you will receive an Anjouan Comoros Forex License.
- While the licensing process is not overly complicated, additional questions or delays may arise during the submission process.
Open a Forex Company in Anjouan
To register a company, first of all, you need to meet the following requirements:
- authorized capital of $50,000 or more
- local office in the jurisdiction
- appointment of a local agent
- minimum 1 director
To successfully register a company in Anjouan, you will need to complete the following steps:
- Start by selecting a unique company name that is not used in Anjouan. When selecting a name for the company, you need to ensure that it is unique and does not include words or phrases that are banned. In addition, the name should accurately match the company’s field of activity and be written in Latin script.
- Prepare a package of documents that will be submitted to the Registrar of International Business Companies (RIBC):
- Completed application form
- Articles of Association and Memorandum of Association
- Certificate of Compliance
- Power of Attorney (in case a third party handles the company registration)
- Certified documents of beneficiaries
- Open a corporate bank account and pay government fees
- Implement AML/KYC policies
- If the previous steps are completed correctly, you will receive a registration confirmation.
The current terms and conditions of company registration and any changes in the confirmation process can be read on the official website of AOFA.
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Regulation of the Anjouan Forex License
In 2001, the Anjouan Offshore Finance Authority (AOFA) was established in Anjouan and has since been the primary financial regulator in the jurisdiction. AOFA strictly adheres to its regulatory obligations and powers as defined by the 2001 Comoros Constitution.
The organization plays a key role in creating a sound and prosperous financial ecosystem in Anjouan, prioritizing the protection of the interests of all market participants and fostering conditions for sustainable economic development. AOFA actively works to ensure responsible financial behavior by protecting against money laundering risks and enforcing the Prevention of Money Laundering Law (Government Notice 008 of 2005) through its extensive regulatory framework.
Within the scope of its powers, AOFA licenses various financial institutions, has the right to issue and revoke licenses, supervises compliance with the established requirements, and can impose penalties in case of violations.
The main laws of the jurisdiction for legal work and regulation of the financial sector:
- International Business Companies Act 2005: Regulates the operation and structure of international business companies, setting out the basic rules and requirements for their registration and operation.
- International Business Company Rules 2005: Sets out detailed procedures and standards for the management and operation of international business companies.
- International Insurance Act 2005: Sets rules and standards for international insurance operations, including requirements for licensing and regulation of insurance activities.
- International Bank Rules 2005: Sets rules and standards for international banking institutions, including governance, capital, and operational requirements.
- International Banks Act 2005: Sets out the framework for the establishment and operation of international banks, including licensing and regular supervision requirements.
- Offshore Financial Management Act, 2005: Regulates offshore financial institutions, setting standards for governance, control, and accountability.
- Money Laundering (Prevention) Act 2005: Sets out measures to combat and prevent money laundering, establishing obligations for financial institutions in identifying and reporting suspicious financial transactions.
Anjouan Forex License holders may perform a wide range of financial services including:
- Stockbroking
- Securities Brokerage
- Financial Consulting
- Investment Asset Management
- Fund management
- Asset custody and safekeeping services
- Transaction clearing
- Payment processing and execution
- Foreign exchange operations (FOREX)
- Securities issue
- Underwriting and guaranteeing of securities issues.
Taxation for Forex companies in Anjouan
Anjouan’s general tax code for local businesses provides the following rates:
– Income tax
- 10% on annual income up to $5,000
- 15% on annual income between $5,000 and $10,000
- 25% on annual income over $10,000
- VAT – 18%
- Customs duty from 5% to 30%
- Real estate tax – 5%
However, for all foreign companies registered in Anjouan, there are tax benefits: no income and corporate tax.
Conclusion
Obtaining an Anjouan Forex License is an effective and relatively easy way to start a legal business in the forex market. In a relatively short time, Anjouan has become a popular choice for forex brokers. Benefits include low cost, a simple licensing process, and loyal legislation.
Anjouan also attracts global investors and entrepreneurs due to its strategic location, lack of income tax, and developed infrastructure. In addition, companies registered in this jurisdiction have a high level of confidentiality.
Key requirements for obtaining a license include company registration, AML/KYC policies, and share capital, and there is no requirement to rent a local office or appoint local directors.
It is important to note that AOFA (Anjouan Offshore Finance Authority) strictly complies with regulatory obligations, including anti-money laundering and terrorist financing laws.
Obtaining a license requires registering a company, preparing the necessary documents, including corporate documents and AML/KYC policies, and submitting an application to AOFA. The process, while not very complicated, may require professional support from Gofaizen & Sherle.
FAQ about the Forex License in Anjouan
How to obtain a Forex License in Anjouan?
To obtain an Anjouan Comoros Forex License you need to register a company, collect the required package of documents, pay the state fee, and submit an application to the regulator.
How much does it cost to get a Forex license in Anjouan?
The cost of obtaining an Anjouan forex license depends on your company structure, and business model and starts from 29950 euros.
How long does it take to obtain an Anjouan Forex License?
On average, the licensing process takes from 1 to 3 months.
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