INTERNATIONAL CORPORATION LICENSED TO OPERATE IN TAX HAVENS

SPECIFIC LICENSING IS REQUIRED FOR:

Most of the tax havens require that the service providers are licensed by them for the following services:

  • Procuring or offering instruments of financial trades or securities trading
  • FX Trading
  • International payment services
  • Money trading
  • Crediting money or pledge chattel securities
  • Electronic money wiring
  • Act as a finance advisor of any sort
  • Money exchange
  • Act as a custodian of assets
  • Chartered Accountancy
  • Safeguarding or managing international asset

ADVANTAGES FOR REGISTERING WITH A LICENSED PROVIDER

  • Tax Issues. There is a void of income tax due an all incomes or other financial gains for offshore companies. Also, such companies may make payments to non-resident entities; including dividends, interests, royalties, and the like compensations. There is a void of asset transfer duties, be it real property, securities, or other instruments of company financial activities.
    TAKE NOTE THAT: Entities in receipt of financial and other benefits from off-shore operations may be subject to income tax and other assessments in the residence for their domicile. It is therefore dreamed that; any participants in the offshore trades and activities carries on his own due diligence, within all jurisdictions involving his activities.

  • Competitive Advantages. Above mentioned income tax advantages may differ from one jurisdiction to another, just calling for an out most attention to them.
    • rapidly growing: companies are, for example, advised to re-invest in a tax-haven jurisdiction, thus promoting its own faster growths;
    • ability to compete: by income tax avoidance company achieves lower expenditures, eventually reducing own product pricing, passing it onto their own customers;

  • Easy to Understand Licensing Requirements. As a rule registering an international corporation is easier and administratively non-demanding than obtaining a Special License for financial activities. The requirements which must be observed are a minimum paid-up capital sufficient qualifications of the corporate management.

  • Simple licensing regulations and documentation are important throughout the company operations. Flexibility and an easy of operations are paramount. There is no need for accounting audits, as there is no requirement for financial reporting. Financial record-keeping is under the jurisdiction of an Individual Corporation and it has to reflect its financial management needs. The requirements of paid-up capital ought to be kept intact.
     
  • Trustworthiness of your Corporation. Government-controlled licensing is very important for clients. Especially with respect to reliability versus non-reliability of licensees, bordering on illegalities. As a rule, service providers who are willing able and ready to expand time and adhere to capitalization requirements may apply. Serious corporations seek service providers who are licensed, and as a result provide the best possible client services available. Their reliability draws more and more serious clients to them.

 

NEED FOR IMPECCABLE PERSONAL CREDENTIALS IS A MUST

Financial services in the international arena may be carried out by registered offshore International Business Corporations (IBC). As anticipated by these licenses, experience and expertise go hand in hand and ore required of the management. In fact this is one of the most important issue of evaluation for the Financial Services Commission (IFSC). Hand in hand with these issues are management CV´s detailing these matters.

 

Minimum Financial Requirements in the way of paid-up capital are:

  • Foreign Exchange Operations (FX) and other financial instruments – US$ 100,000
  • Money exchange – US$ 75,000
  • Money wire transfers and payment processing, money brokering, money lending and pawning – US$ 50,000
  • Brokerage, consultancy and advisory services, safe custody services, accounting services, international asset safeguarding and management – US$ 25,000

 

WHAT IS INVOLVED

Considering starting up a Forex trading, payment processing and/or any other financial service company, you go through a two steps procedure:

  1. Company incorporation. This is a simple and straightforward procedure. However, several things will have to be kept in mind: elaboration of special Memorandum and Articles, special Government registration fee taking into account the minimum required capital, mandatory bank account opening and some others. Other optional additional services, like nominee directors and shareholders, business address and document administration etc. are available at your choice.
  2. Application for the special license. In this step the applicant will have to complete and submit to the IFSC the application of the company for the licence, biographical affidavit of each person involved in the management of the company, evidence of capital requirements and any other documents that the IFSC may request which most often include business plan, financial projections etc.

 

OUR SERVICES

If you are seriously interested to start up a company for trading in Forex, derivatives, money processing or other financial services, we can help you to make it possible.
We will provide continuous assistance throughout the whole process of company registration and application for the license. We will incorporate your company, prepare all the corporate documents for it and provide all the services necessary for your IBC. We will also provide you with the local presence (local business address, local director etc.).

When the company is incorporated, we will guide you through the application process to the IFSC for obtaining the Special Financial License. We will give you preliminary evaluation, before we proceed to submit your application for the Commission.
Nevertheless, please note that the potential success of the licensing mainly depends on the character, professional experience and business background of the applicant. Considerable amount of work will have to be done by yourself (filling the forms, preparing necessary documents, elaborating the Business plan etc.). You will also be required to present the credentials of yourself and your team (directors, shareholders and officers of your company).

 

FEES

A.  The firm must have a special wording of Memorandum and Articles of Association.

  •     Drafting of the special Memorandum and Articles:                          $ 800

    

B.  Incorporation of the Foreign Exchange firm as an IBC.

    Mandatory components at incorporation of the company:

 

  • Incorporation of the company:                                                           $ 1,000
  • Registered office and registered agent for one year:                           $ 750
  • Provision of a corporate nominee shareholder for one year:             $ 1,800 p.a.
  • A set of certified copies of primary documents by legalized:                 $ 350
  • Power of Attorney by legalized:                                                           $ 350 p.a.
  • Rubber Stamp:                                                                                    $   90
  • Delivery of documents by courier:                                                       $ 130

 

C.  Mandatory bank account: Must provide bank letter with proof of paid-up capital of USD$100,000.  

  • Bank account introduction in local bank                                            $ 2,500

 

Optional components at incorporation of the company:

  • Business address, correspondence & document administration           $ 650
  • Safe custody of the original corporate documents.                               $ 200

 

D.  The firm will have to present detailed resumes and personal information on all its shareholders/directors/principals, as well as a resources statement, a 5-year business plan, and financial projections and details of the organizational structure.

  • Professional fees for dealing with license application:                       $ 9,500
  • Miscellaneous disbursements (courier, communications):                    $ 250
  • A local citizen as one of the Directors (all due diligence provided)  $ 13,200 p.a.

 

E.  The firm must submit an Application, together with all supporting documents.

  • Government non refundable application fee for               
  • Foreign Exchange licence:                                                                  $ 500
  • Government license fee for Foreign Exchange License:                  $ 5,000
  • Requirement is for you to hire a local-administrative         **this depends***
  • Must have an office                                                           **this depends***

    

Time Charges: Personalized assistance with the processing your Foreign Exchange license. Billed at USD$170 per hour

 

TOTAL MINIMUM COST (estimated):                                                $ 38,000

TOTAL MAXIMUM COST (estimated):                                               $ 48,000

(can be more for complex structures) depending on the financial services that company is planning to provide and the optional additional services that the company is going to need. There is obviously a large amount of preparation necessary to be successful!

 

IMPORTANT NOTES

We reserve the right to change fees without notice.
The payment options are: wire transfer.

 

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