If you want to open a forex and brokerage company in Comoros as a local or foreign entrepreneur, it is good to know the legislation and conditions. This article can clarify things for you, but you can find extra information if you get in touch with our BridgeWest team.
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How can you open a forex & brokerage company in Comoros?
The first step in setting up a forex & brokerage company in Comoros is to incorporate an International Business Company, also known as an IBC. This is the most popular structure among offshore jurisdictions worldwide.
How many shareholders are needed for a forex company in Comoros?
At least one shareholder is needed for opening a forex & brokerage company in Comoros. Moreover, at least one director is needed without the need for residency in Comoros. In addition, both shareholders and directors must pass the “Fit & Proper test” and demonstrate the experience and qualifications necessary to open a forex company.
What is the minimum share capital for a forex company in Comoros?
EUR 50,000 is the minimum share capital required for a forex brokerage company in Mwali, while EUR 250,000 is required for the incorporation of this business in Anjouan. In the latter case, the entire amount does not need to be deposited; this is done gradually after the company is registered.
Do I need a local agent for setting up a forex company in Comoros?
Yes, a registered local agent is mandatory for opening such a business in Comoros. Furthermore, the forex & brokerage company must have a registered office address in Comoros.
Is a business plan required for a forex company in Comoros?
Yes, a solid & detailed business management plan is required at the time the forex company is incorporated in Comoros.
Is AML & KYC imposed in Comoros for a forex company?
Yes, company owners must implement Anti-Money Laundering & Know-Your-Customer policies at the time of registration of the forex & brokerage firm in Comoros.
What other documents are required for a forex firm in Comoros?
Among the documents required for a forex & brokerage company in Comoros are:
- Articles of Association,
- copies of IDs/passports of shareholders,
- clear criminal records,
- proof of business address,
- bank reference letters, etc.
What corporate tax is imposed on a forex company in Comoros?
There is no corporate income tax for a forex & brokerage company in Comoros. Moreover, funds of the company can be transferred free of charge.
What are the costs for a forex & brokerage company in Comoros?
Entrepreneurs must pay around EUR 25,000 – EUR 35,000 for company registration, administration, and other government fees. Around EUR 2,400 – EUR 7,500 as annual renewal fees for a forex & brokerage company in Comoros should also be listed.
Can this company be controlled remotely?
Yes, those who own a forex & brokerage company in Comoros can control it remotely because there is no obligation for the company to have employees on site.
Are you interested in complete information on how to start a forex & brokerage company in Comoros? Don’t delay and contact our team of specialists right now to benefit from complete assistance and personalized services, according to your business needs in this offshore jurisdiction.