The number of brokers inquiring about opening offshore Forex brokerage firms in Belize has been on the increase for the past few years. Some of the things most of them wish to know are the requirements they must meet to obtain a Belize Forex license and the benefits they will enjoy by obtaining this license.
If you are also interested in opening an offshore in this jurisdiction, then you’ll be happy to know that it is only in Belize that you will get to enjoy the lowest possible entry points for offshore trading that also allows you full custody of your assets without your firm being required to have a local director or local physical office.
On top of offering the most cost-effective regulated offshore brokerage options in the world, there are other benefits that come with obtaining a license for opening an offshore Forex brokerage firm in Belize. Below we have listed some of them together with the requirements for obtaining this license. Therefore, read on to learn more about this offshore Forex brokerage heaven.
If you apply and are granted a license to open an offshore brokerage company in this jurisdiction, you will also be allowed to:
- Start a firm providing consultancy and advisory services in a range of financial fields, therefore, being able to advice clients who require these services
- Trade in financial commodities, such as derivatives, futures, stocks, and shares
- Offer managed foreign exchange trading options
- Offer other full-service brokerage options
- Issue your clients with debit cards
- Offer online trading services to your clients through your platform allowing them to open trading accounts and trade on their own
Other than what we’ve just mentioned above, holders of this license are able to conduct other financial activities, which include:
- Lending money
- Money brokering and exchange
- Provide payment processing services
Requirements for Obtaining the License
There are several requirements you must fulfill for you to be granted a license for offshore Belize Forex license. These requirements are as follows:
- Write a Memorandum and Articles of Association containing information about the affairs of brokerage and required share capital in detail
- Deposit a sum of 100,000 USD as full capital in a local bank. You won’t be able to withdraw or use this amount during the tenure of your license
- Present the firm’s business plan and AML compliance manual together with the resumes and reference letters of each director
Please note that the application process takes 6 to 8 months. This means that you should expect feedback on whether or not you’ve been granted the license after that period.
Leave a Reply