Obtaining a forex license in Belize is a relatively easy process and one that provides greater flexibility compared to other continental jurisdictions. This makes the Belize Forex License a prime consideration for many FC brokers who are interested in offshore licensing. Belize ranks as one of the most economically and financially stable countries in the world. That is the reason why many forex broker companies are scrambling to have a piece of it.
The recent regulatory developments in Australia and Europe have forced forex brokers to evaluate offshore license jurisdiction in Belize strongly. For one, the country’s regulatory forex regulatory features prove to be very friendly. Tax optimization, leverage flexibility, and ease of set up are a few of the reasons to obtain your license in the country.
Why Belize?
As mentioned earlier, there are several reasons to want to get a license in Belize. Below are some of the critical benefits to consider.
• Among the best offshore licenses
• Low yearly maintenance
• Fast and low-cost procedure
• High demand from brokers
• You can open a bank account with a license
How to Get the Belize Forex License
The International Financial Services Commission is the regulatory body in the country that is responsible for reviewing and issuing forex licenses and regulations in Belize. The regulatory body issues its licenses to financial companies that intend to engage in any forex activity. However, the companies being issued with the licensed must, first, meet specific criteria as required by the regulatory body. This can include fit and proper tests and capital adequacy.
Below are the steps that you must fulfill before obtaining a Forex License.
• Gather and prepare all documents, including ones of due diligence
• The company’s registration with a paid-up capital of $500,000
• Preparation of a custom-tailored business plan and anti-money laundering procedures
• Submitting the due diligence documents plus other related documents to the regulatory body to start the application process
• Account opening at a bank in Belize, including the preparation and submission of all bank forms, due diligence documents, and corporate documents
• Assistance with the deposit of funds at the local bank where the company fulfills its capital requirements
• Assist in opening a corporate account that allows for further operational needs by the company
• Receipt of the license from the regulatory body and delivery of any relevant documents to the client
• Finalize the bank account opening plus delivery of all relevant documents to the client
Verdict
As explained in the above context, acquiring a Belize forex license is relatively easy and straightforward. Not to mention all the benefits that your company can benefit from such an investment. All you need is to ensure that you meet the IFSC’s requirements, and you should be good to go.
