The Comoros Islands offer a very cost-effective jurisdiction for establishing a forex brokerage. While the financial sector is still developing, Comoros provides low regulatory hurdles and a highly favourable tax environment, making it an attractive option for brokers looking for minimal setup costs and administrative requirements.
Yes, I want to incorporateComoros offers one of the lowest licensing and operational costs for brokers.
No capital gains tax, no inheritance tax, and a very low corporate tax rate.
The licensing process in Comoros is relatively straightforward with fewer compliance burdens compared to other jurisdictions.
Brokers can set up and begin operating quickly with minimal administrative delays.
Strong privacy protections for business owners and clients.
The Comoros Islands is less regulated compared to major financial jurisdictions but still requires brokers to follow basic financial compliance procedures such as AML and KYC. The regulatory body ensures that brokers meet minimal standards to ensure that clients' funds and transactions are protected.
Registration of a brokerage firm.
Opening a corporate bank account in Comoros.
At least two Comoros directors must be appointed.
The founders are required to have reliable financial experience.
Find a local office and hire staff, including an anti-money laundering officer and an accountant under formal employment contracts.
Regular audits.
Keep and provide financial statements upon request.
Implement a strict anti-money laundering and anti-terrorist financing policy.
A minimum share capital of USD 18,000 is required.
A comprehensive business plan.
Hold regular board meetings in Comoros to comply with local laws.
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