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

We are pleased to announce a perfectly suitable alternative for international forex brokers willing to get a flexible license for operations — The International Brokerage License in Comoros Islands. This authorization will be suitable for both overseas or offshore company. This country is situated in the Indian Ocean between the Mozambique coast and Madagascar. With a nearly population 855,000 inhabitants, Comoros Islands are mostly known for volcanic landscapes and rich cultural diversity. The country consists of three main islands and numerous smaller islets.

Comoros started to gain its high popularity among international forex brokerage business during the first half of 2023. This was mainly triggered by the new policy issued by the St. Vincent’s FSA restricting non-licensed forex companies and unclarity about legal position in St. Kitts and Nevis. Therefore, the only option for the non-licensed business operations remained available in Saint Lucia only. That is why businesses and our clients started to be searching for another alternative with an appropriate license but wouldn’t have strict application requirements. This is where the Comoros International Brokerage License comes to.

This license serves as a unique solution for many forex brokerage companies due to its flexibility on issuing. The Mwali (Moheli) International Services Authority (or MISA) allows to be engaged in the following business activities, such as:

• Stock Brokerage;
• Securities Brokerage;
• Financial Advisory;
• Asset Management;
• Fund Management;
• Custody Services;
• Transaction Clearing;
• Payment Processing;
• Currency Trading (FOREX);
• Issuance of Securities; and
• Underwriting of Securities.

What is more is that there is a possibility to apply for this type of the licensing for the companies domiciled (incorporated) outside the Comoros region. This makes International Brokerage License even better solution especially for those companies that have current business operations under St. Vincent’s and the Grenadines companies. Here, we will stay more focused on the locally incorporated IBCs within the Comoros. However, if you need an assistance with this license for your overseas entity, kindly contact our team to get more details through any convenient way.

The overall timeline for the license acquisition takes up to 1 month. This includes all steps from the incorporation of a Comoros IBC Company to obtaining the brokerage license from MISA. To be qualified for regulator’s consideration, the prospect IBC company has to declare its registered capital in amount of 250,000 EUR or USD minimum. The prominent feature here is that there is no need to deposit these funds as a guarantee would be more than sufficient to satisfy this requirement.

Once the company is registered, the next step would be the submission of an application and annual license fee to MISA in order to get the company duly licensed. The consideration takes around 20 days to get the documents issued and upon their availability your company is ready to be engaged in the above-mentioned brokerage functions including international forex brokerage services.

Get in touch with our team at Corpheroes today to get your license from Comoros. We provide a full solution from A to Z with full-time support at all stages. Corpheroes is your single point of contact whenever your business requires assistance with any corporate matter. We care.