Vanuatu Forex License

Vanuatu.jpg

Vanuatu is well known jurisdiction among FOREX dealers. One of the main advantages of Vanuatu license is a very low "entry fee".

Please be informed that the Financial Dealer Licensing legislation is currently being revised and we can anticipate several changes as from December 2019, including:

  • One of the managers/ directors of the company will be required to reside in Vanuatu

  • The company will be required to have a physical premise located in Vanuatu which shall maintain a certain list of software systems

The Commission will allow a transitional period of 12 months from the date of publication of the new amendment to allow the companies to be compliant.

In case the application is submitted after the date of publication of the new Amendment, you will have to comply with the new requirements immediately after its publication.

The Financial Licenses are granted to Vanuatu entities only and not to overseas companies.

Application for Financial License 

The “applicant” for the Representative License is most of the time the director of the Company and the Principle license is issued in the name of the Company.

In order to be eligible to apply, the applicant must be able to provide supporting documentation on his qualifications (certified transcripts and diplomas, a Curriculum Vitae and two (2) independent references confirming CV and showing at least 5 years on related experience in fund management securities and investment).

Registration with VFIU

Any company that is registered as a Dealer in Securities Company has to be registered as a reporting entity with the Vanuatu Financial Intelligence Unit.

In order to comply with the legislation, you will be required:

  • to appoint a compliance officer and an alternate compliance officer

  • to complete the VFIU registration documents

  • to submit an AML manual

All these documents are already part of the application submitted to the Vanuatu Commission.

Security deposit to be paid to the Commission: VATU 5.000.000 (approx USD 50.000)

 

Description of the process  

  1. We need to receive the information and documentation listed into the order form, first.

  2. After approval of the applicant by our compliance department, the incorporation set of documents will be circulated for signature. The company is incorporated by the VFSC in 3 / 4 days.

  3. Application for financial license (1.5 / 2 months to be granted)

  4. Application for the opening of the bank accounts (1 / 2 weeks to be opened)

  5. Once the financial license has been granted, we need to proceed with the registration of the company with the Vanuatu Financial Intelligence Unit.