forex license svg

Forex License in SVG

Saint Vincent and the Grenadines is at the forefront of forex business start-up and development due to its favorable regulatory environment, low costs, and loyal taxation. Gofaizen & Sherle provides professional assistance in obtaining a Forex License in SVG, offering a turnkey solution and business start-up in the Forex industry

If you want to open an international-level Forex company in SVG jurisdiction, you need to apply for a Forex broker license. To do this you need to fulfill several simple requirements such as company registration, local office, etc.

However, some benefits are much higher than the time required to comply with the regulator’s rules, such as the absence of minimum equity capital requirement and zero taxation. Such companies are created remotely, with the Privacy Act of 1996 providing strict corporate privacy.

The South Caribbean island state, consisting of St. Vincent and 30 smaller islands, has about 110,000 inhabitants and is actively developing as an elite tourist and economic center. A former British colony, SVG is now an independent state where English is one of the main languages. Being an important offshore financial center, SVG offers tax advantages to banks, making opening a Forex brokerage license profitable and not costly. St. Vincent is a stable, economically free state, included in the Organization for Economic Cooperation and Development, as well as in the OECS and the UN.

Packages of services for forex license in SVG


AML Policy to enhance company reputation

5 650 USD
  • All services from the Basic package
  • AML/KYC Policy

Assistance with obtaining FX broker registration and corporate account for operating activity

2 850 USD
  • All services from the Essential package
  • Corporate documents
  • Corporate account
Leonid Turok
Senior Associate, Head of Sales (FX and iGaming)
Kiryl Zaremba
Senior Associate, Business Development Manager

Requirements for obtaining a forex broker license in SVG

  • Minimum of one director, shareholder, and secretary in the company. Minimum one director must be a citizen of the jurisdiction;
  • SVG office must be rented and registered;
  • The corporation name must include a word or abbreviation that reflects limited liability;
  • Compliance with local laws and requirements.
  • Companies must confirm that they have licenses from other jurisdictions where customer service is provided. If there is no requirement to open a license in that jurisdiction, you must provide official confirmation.
  • Provide established AML/KYC policies.
  • The company must comply with the structure and processes set out in the applicable legislation.

Request more information about the Forex Broker License in SVG

Advantages of a forex license in SVG

  • Companies do not belong to the SVG tax system 25 years from the start of operations;
  • No income tax, corporate tax, or withholding tax;
  • No minimum share capital;
  • One individual/legal entity is sufficient for registration;
  • No requirement to show an open list of founders;
  • Financial privacy: No annual accounts filing or auditing required;
  • Fast registration of Forex company – 2-4 working days if all documents are available and requirements are fulfilled;
  • It is possible to manage the company remotely;
  • Relatively low cost of registration of the company and obtaining forex broker license on St.Vincent and the Grenadines;
  • Forex company can issue shares with different rights in different currencies.

Disadvantages of a forex license in SVG

  • Regulatory laws are being drafted and stricter regulations may be introduced;
  • Some major banks prefer to do business exclusively with EU companies;
  • Before 2019, the incorporation of International Business Companies (IBCs) was available to non-residents in St. Vincent. However, modern legislation now allows only Limited Liability Companies (LLCs) to be registered;
  • Because until recently the Forex market was not regulated by the government, companies operating in this jurisdiction may be regarded with suspicion. This requires additional work on reputation;
  • At the moment, no separate regulations have been adopted to protect traders and forex companies.

Opening a Forex Company in SVG


Step 1

You will need to collect your documentation, which will include a certified copy of your passport, proof of address, curriculum vitae (CV), etc.

If you need assistance with the preparation of documents for a positive result of the company registration, Gofaizen & Sherle will provide you with the professional assistance in this matter.


Step 2

It is important to choose a unique name for your Forex company that is not the same as the one previously registered in Saint Vincent and the Grenadines.

The company name should indicate limited liability, such as ending with “Limited” or “Ltd”. Names associated with royal or governmental entities, misleading, offensive, or duplicative of existing names are prohibited.


Step 3

The next step is the registration of the company in the Registry, according to the SVG legislation. The registration process can be done remotely and usually takes about 2-4 days.

Gofaizen & Sherle will help to properly fill out the application by all requirements of the jurisdiction for a positive response.


Step 4

After registering your company you will need to open a corporate bank account. It is important to choose a bank that provides services for Forex brokers.


Step 5

This step may require additional preparation of documents and normally takes more time than company registration.

Steps to Apply for a Forex License for Your SVG Company

To obtain an SVG forex license, you need to follow these steps:

Establish a local company:

Step 1

  • Establish a company in the country with the required local representation.

Preparation of documentation:

Step 2

Collect and organize all the required documentation to apply for a Forex License in SVG.

  • Completed license application form.
  • Basic corporate documents of the company.
  • Proof of legal registration and physical office.
  • Personal data, resumes, financial reliability proof, clean management, and critical personnel criminal histories.
  • A detailed business plan, including a description of the management model and projected financial performance.
  • Reports confirming the company’s capital adequacy.
  • Internal control standards, including an anti-money laundering policy.
  • Measures to protect customer information and a description of the IT infrastructure.
  • Receipts for payment of state fees for license issuance.

It is advisable to check the latest guidance from the regulator or seek advice before submitting documents, as regulations may be updated.

Pay the state fee:

Step 3

  • Pay the statutory fees for your license application – €225 – and the €4,000 annual fee.

Submitting your application:

Step 4

  • Send the application to the regulatory authority along with the attached documentation.

Checking the applicant:

Step 5

  • The regulator will conduct a detailed review of the data provided on directors, shareholders, and other key personnel to ensure that it meets the integrity and financial strength requirements.

Interaction with the regulator:

Step 6

  • If necessary, the regulator may request additional materials or clarifications from you and schedule an in-person meeting.

Issuance of license:

Step 7

  • If the regulator is satisfied that you are competent and meet all requirements, you will be issued a forex broker license in SVG.

Documents for obtaining a forex license in SVG

  • Completed application
  • 2 certified copies of passports of directors, shareholders
  • A certified statement that confirms the address of residence of directors and shareholders (e.g., 3 months’ worth of utility bills)
  • Proof of clean reputation (certificate of criminal record)
  • Bank statements of the founders
  • Director’s resume and letter of recommendation
  • Corporate documents

Features of the Forex business in SVG

To create a favorable climate for foreign investors, Saint Vincent and the Grenadines have established clear and transparent rules in the areas of taxation, labor relations, the environment, and safety. This promotes competition and a mutually beneficial relationship with foreign partners.

Using generally accepted accounting principles in its financial statements, the country follows international standards in accounting, law, and regulation. Intellectual property protection is also ensured by complying with the Paris and Berne Conventions to which the SVG government is a signatory.

As part of its membership in the Eastern Caribbean Currency Union (ECCU), Saint Vincent and the Grenadines actively participates in the regional government securities market and the Eastern Caribbean Stock Exchange (ECSE). Additionally, the country fulfills its obligations under Article VIII of the International Monetary Fund Agreement by maintaining a financial system free of restrictions on international payments and transfers.

For legal forex activities, you need to register a company and obtain a St-Vincent Forex Broker License.

Note that the International Business Company (IBC) used to be a common form of incorporation, but was converted to “commercial companies” (CCs) in 2020. However, these IBCs faced 30% tax and regulatory reporting requirements. Instead, the government introduced new registration rules in the form of a limited liability company (LLC). This form proved to be an excellent substitute for an IBC, exempting companies from paying taxes.

Overview of Forex license in SVG

Processing time 1 month
Application fee None
Minimum capital requirement Not required
Corporate income tax 0%
Resident employee Not required
Accounting audit Not required
Office requirement Not required
AML/KYC Required

Regulation of Forex License in SVG

On November 12, 2012, the Financial Services Authority (FSA) was established under the Financial Services Administration Act. This regulator provides control over certain financial institutions and businesses. It was established by Parliament to create a system of governance and supervision of the international financial industry and local non-banking institutions. The FSA merged the Office of International Financial Services, the Division of Cooperatives, and the Division of Supervision and Regulation while improving efficiency by consolidating resources. Act 33 of 2011 defines the role and powers of the FSA to conduct market regulation and take steps to develop Saint Vincent and the Grenadines’ non-banking financial sector.

The FSA provides oversight and regulation of non-bank financial institutions, promoting their stability and public confidence in them. Through a risk-based approach, the FSA detects and addresses threats, using global prudential standards to assess the financial soundness of supervised institutions.

FSA works to enhance financial stability by ensuring that threats and risks are effectively identified and addressed. Stability in the financial system is key to protecting consumers and preventing financial crime. FSA monitors the financial health of institutions to ensure compliance with minimum prudential requirements. This is accomplished through remote monitoring, on-site inspections, and periodic analysis of financial statements and selected ratios.

St. Vincent and the Grenadines have several legal acts governing the forex business. These laws provide the legal framework for the operation of financial services companies and serve to maintain high standards of practice in the industry. Key pieces of legislation include:

BC and LLC Requirements Memorandum:
Sets out rules for forex companies, organizational aspects of their operations, and corporate transparency requirements.

Financial Services Management Act 2011:
Establishes a framework for regulating the provision of financial services, including licensing and supervision.

Securities (Licensing) Act 2011:
Regulates the licensing of securities-related activities, including forex.

Consumer Protection (Fair Trading) Act:
Protects the rights of consumers by establishing fair trading and transparency rules for financial transactions.

International Business Companies Act 2007:
Regulates establishing and operating international business companies, including those in the forex industry.

Exchange Control Act:
Establishes controls on foreign exchange transactions and their compliance with financial laws.

Cybersecurity and Data Protection Regulations:
Describes requirements for the protection of information systems and customer data.

Proceeds of Crime Act 2013:
Combats finance-related crime and sets out procedures for identifying sources of income.

Anti-Terrorism Act of 2023:
Introduces measures to prevent the financial system from being used for terrorist activities.

The Money Laundering and Terrorist Financing Regulations 2014:
Guides preventing money laundering and terrorist financing through financial transactions.

Money Laundering and Terrorist Financing Code 2017:
Supplements the 2014 regulations by introducing more specific guidance to counter these offenses.

Money Services Business (Amendment) Act 2022:
Updates and strengthens the legislative framework relating to money services, including forex activities.

Warnings from FSA Regarding Forex Activities

The official FSA website occasionally publishes warnings for forex businesses and their clients, the latest of which was posted on June 23, 2021, reminding of the risks of fraud in the forex market.

Highlights include the following:

– The FSA is not in the business of issuing licenses to conduct forex business and is not authorized to supervise international companies operating such activities.

– Companies registered in St. Vincent and the Grenadines are free to conduct commercial forex transactions if they do not involve banking, insurance, or investment activities.

– No other authority in St. Vincent and the Grenadines grants brokerage licenses.

Regarding indications of potential fraud:

– Promises of highly favorable terms that seem unrealistic.

– Claims that most clients make a profit.

– Unwanted phone calls with offers to invest, especially from unknown companies.

– Fictitious success stories and unrealistic promises of low risk and guaranteed profits.

The FSA stresses the importance of working with licensed brokers and carefully considering all risks before investing. If using the services of unregulated forex companies, investors act at their own risk. The Department also warns against investing funds a trader cannot afford to lose.

In case of disputes with brokers, the FSA advises to contact the financial authorities in the trader’s jurisdiction.

FAQ about a Forex broker license in SVG

What is forex trading in SVG?

Forex trading in SVG is foreign exchange trading through brokers registered in St. Vincent and the Grenadines, where there is no strict regulation of forex activities.

Do forex traders need a license in SVG?

At the moment, forex activities are not regulated and a separate license is not required. However, shortly, the state may introduce regulation, and obtaining a Forex Broker License in St.Vincent will become a prerequisite.

What are the main advantages of the FX license in SVG?

Advantages of the Forex License in SVG include tax exemption for 25 years, no minimum share capital requirements, protection of confidentiality of financial transactions, the ability to manage the company remotely, and attractive opportunities for business development in this jurisdiction.

How to get a Forex license in SVG?

To get a Forex License SVG, you need to collect the necessary documents and fulfill several requirements, such as registering an office and having at least 1 director and shareholder. After fulfilling the rules, apply for licensing.

How much does a Forex license cost in SVG?

The cost of obtaining a Forex Broker license in St. Vincent with our support is determined individually, depending on your needs, and can be around $5,000, including all government fees and professional services.

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