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Vanuatu Regulation Increasingly Popular among
Binary Options and FX Brokers
Vanuatu has a very user friendly Act, the Prevention of Frauds Act which allows an individual or a company to apply for a Securities Dealers License.
This license allows you to buy, sell, trade securities such as shares, bonds, options etc. and manage a portfolio of investments for and on behalf of your clients.
This License can be useful for investment/fund management institutions such as Brokerage firms, mutual or hedge funds etc. who may have clients wishing to invest in securities which may not be permissible or must comply with onerous and costly compliance of their resident jurisdiction. Such investments can be done through an entity incorporated in Vanuatu licensed to carry on Securities dealing business thereby bypassing these constraints legally.
Dealer in Securities
The island nation of Vanuatu, located in the South Pacific Ocean is becoming a preferred jurisdiction for many Forex brokers looking for regulation, mainly due to the low capital requirements that Forex brokers need to meet in order to receive a Vanuatu Forex license.
The minimum capital required can be as low as to VATU 5,000,000 (50.000 USD) for every new application, and now to be paid to the Vanuatu Financial Services Commission.
Opting for Vanuatu Forex regulation also has several other advantages, such as:
No local office in Vanuatu is required.
No local staff in Vanuatu is required.
It is the fastest available regulation on the market today by far.
Vanuatu Profile As a Safe and Compliant OFC Destination
- The International Companies Act :
https://www.vfsc.vu/international-companies-act-cap-222-and-amendments/ as amended by the attached Bill amending Act;
- The Dealer in Securities Act: https://www.vfsc.vu/70-prevention-of-fraud-investments-act/ as amended by the attached Bill amending Act
The KYC Requirements
The KYC requirements include the filing of at least the following documents (non- exhaustive list):
- Details of the source of the funds used to pay the capital (new requirement)
- Notarized Police clearance and passport of the applicant
- Details of the business plan
- Details on effective beneficial owner
The new law is a bit unclear about the situation of current licensed companies for which a dealer in securities license has already been granted as the notion of “renewal” still does not exist.
Our understanding is that all current licence holders have to comply with the new additional information provisions of the law within a period of maximum 6 months following the Gazette Date of the law (16 June 2017); however, the law is silent on whether these companies already licensed and incorporated have to respect the new bond requirement.
How Global Premier can Help Brokers Interested in Vanuatu Forex Regulation
Global Premier & Associates, together with its local Lawyers, has been offering legal services related to acquiring a Vanuatu Forex license since 2006 and are today able to assist clients with every step all over the process.
The license will be issued by the Vanuatu FSC Financial Services Commission, the entity regulating and supervising the financial industry in the country.
The steps required include incorporating a company in Vanuatu, applying for the license, paying all the necessary fees, guidance on compliance and other practical matters Forex brokers need to be aware of.
Additionally our lawyers offer free and non-binding consultations for Forex brokers and potential Forex brokers in order to help them understand if they fulfill the requirements set by the Vanuatu Financial Services Commission for a license.
Our experienced staff offer regulation related services in many other popular jurisdictions as well, and can therefore advise brokers who have not decided on the most suitable jurisdiction yet on what the most beneficial jurisdiction is.
Low Costs and Fast Registration
In addition to the above, perhaps the two main reasons for the quick increase in popularity for Vanuatu licenses are:
(a) The fact that this is the fastest available Forex/Binary Options regulation out there (it is possible to be granted a license in only 2 to 3 months); and
(b) Very low capital requirements even compared to other known licensing jurisdictions;
There are, naturally, some additional expenses in connection with the regulation process, such as incorporation and administration of a Vanuatu financial company, annual registered office and secretarial services fees, application for trading in financial and commodity-based derivative instruments and other securities from VFSC, including VFSC regulatory application fees, governmental fees, agents consulting fees, legal fees, etc. However, these expenses are still smaller compared with other regulating jurisdictions.
As usual, we will do our best on our side to manage your applications / renewal process as fast as possible.
Why Global Premier?
What separates us from our competitors is that our services don’t end with the registration of your company. We offer a wide range of additional services others can’t or just won’t offer, such as lifetime free support.
Whilst most providers either specialise on personalized consultation at relatively high rates or run bulk registration factories without any support, we want to offer the positive aspects of both types.
Therefore Global Premier combines professional advice, worldwide registration services, reasonable fees, customized order processing, lifetime support and fast processing. Where others see company formation services as a bulk registration with no support and no individual assistance, we do care about your business needs.
Should you have any question or matter
You would like to discuss or clarify with us
Should you like to receive further Information
About our services and fees, …
Our multi-lingual team of business advisors is happy to assist you with all upcoming questions and issues in relation to your company.
You may call or email us, and we will be happy to assist you in a fast and efficient manner.
You can also come and visit us at our Limassol offices to discuss issues face to face if you prefer. Just arrange an appointment and we will be happy to meet with you.