Forex License Comoros

Regulatory Environment in Comoros

The Comoros Islands consist of several autonomous islands with their own regulatory bodies, such as:

• On the island of Mohéli, the International Services Authority (MISA) is responsible for the operation of forex companies.
• In Anjouan, the Offshore Financial Authority (AOFA) regulates the activities of financial companies and protects the rights of clients.

The overall regulation of the entire Comoros financial services license system is carried out by:

• The Ministry of Finance and Economy of the Comoros is the main regulator of the country's economy.
• The Central Bank conducts monetary policy.
• The Internal Control and Audit Service (SICAF) is responsible for auditing the activities of forex companies.

Key legislative acts of the jurisdiction:

• Law No. 21-004 on Combating Terrorism and Money Laundering requires companies to implement the necessary measures to identify customers and monitor transactions.
• Law No.20-005 AU on payment services and payment service providers defines the conditions for making payments.
• Banking Law 13-003-AU is necessary for regulating financial companies.

What Criteria Must be Met to Obtain a Forex License in Comoros?

Obtaining a Forex business license requires compliance with certain standards designed to guarantee the legitimacy of the business and ensure financial transparency.

The main conditions and rules that the applicant must comply with are:

Application submitted by a legal entity.

Only IBCs registered on the islands can apply for a license to operate in the currency market, provided they also have an office.

Proof of financial soundness.

Depending on the organizational and legal form, the type of license, companies must provide proof of initial capital contribution (from €50,000).

Preparation of a business plan.

In the description of future business activities, it is necessary to clarify the development strategy for the Regulator, describe the services offered and the market of potential customers, and form a financial forecast for the next 3 years.

Detailed management information.

Key managers must confirm their experience and reputation to the Regulator.

Risk minimization.

AML/CFT procedures, constant monitoring of transactions, assessment of the risk level of operations, mandatory KYC, preparation of reports and submission to the authorized state body, segregation of client funds - these are key requirements for financial intermediaries.

Types of forex licenses in the Comoros

• Offshore forex license

Designed for companies targeting international clients and planning to provide services outside the Union of the Comoros. This license is primarily aimed at clients from other countries, making it an ideal choice for companies seeking international reach. The regulatory requirements for obtaining it are minimal compared to a license for onshore business, which simplifies the application process and reduces the administrative burden.

The offshore license is cost-effective and provides the opportunity to:

• offer a wide range of services, including forex brokerage,
• futures and contracts for difference (CFD) trading,
• adapt their business models to the requirements of the international market, providing their clients with freedom of choice in strategies and products.

Licences issued by island-level bodies such as MISA (Mohéli) or AOFA (Anjouan) are not recognised by the Central Bank of the Comoros, which states that it is the only authority competent to license financial activities in the Union of the Comoros and that no forex licences have been authorised or issued there (communiqué of 8 December 2025). Banks and payment providers may refuse to work with holders of such licences.

• Onshore (forex) license

Designed for companies targeting clients from the Union of the Comoros or a specific island. The license allows you to serve local and regional clients, creating a solid base in the local market. To obtain it, you must meet more stringent regulatory requirements, including additional checks and strict compliance with local regulations.

An onshore license allows you to:

• strengthen your presence in the local market,
• focus on serving customers residing in the Comoros, which helps build long-term and trusting relationships.

This license is often issued by the AOFA in Anjouan and includes the right to provide clearing and settlement services. It allows companies not only to conduct transactions but also to make final settlements and transfer assets.

The choice of license depends on the goals and strategy of your business. An offshore license is suitable for international presence and cost reduction, while an onshore license is suitable for strengthening your position in the local market. Consultations with Gofaizen & Sherle experts will help you choose the best option that meets the unique needs of your business.

Conclusion

Investors and entrepreneurs are increasingly viewing the Comoros Islands as one of the most promising jurisdictions for a quick entry into Forex. Local authorities offer a relatively quick registration process, minimal costs, and a favorable tax system. It should be noted that there are no double taxation agreements, and regulatory oversight remains weak compared to jurisdictions such as the UK or the US.