The International Brokerage License in Comoros: why is it a good alternative for forex business?

Published:
December 18, 2023
The International Brokerage License in Comoros: why is it a good alternative for forex business?

Moving an enterprise to a distant financial heaven represents a widespread ambition for numerous global people looking to lower their levy burdens. In many cases, particularly those from the USA, Europe, or Canada, relocating their operations holds great appeal. The allure intensifies when considering the illegality of double taxation in most nations. Conducting business in an overseas jurisdiction safeguards enterprises from extra fee requests by their home nations.

One can now acquire a fiscal license from the Isles for business endeavors. Despite being an island-based jurisdiction, this permits engagement in transactions. Its designation as a global license hints at its broad applicability.

Geographical Location

In East Africa lie these islands, a surprising inclusion in the Middle East region. Potential investors might harbor reservations owing to this area’s widely recognized political and economic turbulenceβ€”however, this island collective stands apart, basking in enduring political and economic stability spanning decades. You can conduct operations within this stable oasis amidst regional instability. This unique setting opens avenues to engage with a sizable population receptive to the innovations often prevalent in European and American contexts.

The Market Measured in Humans

Roughly 1 million individuals inhabit the Islands. Exploring the nation’s international agreements reveals affiliations with several prominent organizations, fostering trade accords and providing access to a market of approximately 500 million people.

Its appeal extends beyond this facet. It hinges on the authorization of trading in legal territories. Curiously, since 2023, numerous islands previously deemed ideal for financial dealings began enforcing stringent regulations. Consequently, many entrepreneurs relocated to the Islands, where limitations are absent and unexpected. Notably, the authorities diligently strive to establish favorable conditions and liberalize regulations.

The supervisory authorities, predominantly under the unified MISA, proffer license for the following activities:

  • Overseeing funds;
  • Managing custody;
  • Handling payments;
  • Participating in FOREX trading;
  • Assuming securities underwriting responsibilities.

The scope goes beyond these specific tasks; practically any financial dealing qualifies for acquiring the license to facilitate your business undertakings.

Interestingly, the island government implemented a strategic adjustment to their laws. Suppose any of your prior territories faced revocation or uncertainty post-2023. In that case, the Islands will furnish it, allowing you to sustain your operations, albeit under their jurisdiction, should you opt against renewing the document under altered conditions.

Timelines and Cost

Commencing operations lawfully under the Comoros Islands’ jurisdiction typically spans a month. Cost-wise, you’re looking at an expenditure ranging from $200,000 to $250,000. A fraction funds your business directly, while the remainder caters to government structures, encompassing taxes and state fees. Document processing, averaging 20 days, culminates in the green light for your intended activities.

Seeking guidance from a professional proves pivotal, expediting document approval from the island group’s government. This isn’t just a suggestion; it is a firm recommendation to safeguard your financial resources and ensure procedural correctness.

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