Financial Crime World

Establishing a Forex Company in the Comoros Islands

Are you looking to start a forex trading business in the Comoros Islands? Our team at Regulated United Europe can guide you through the process of incorporating a company and obtaining a forex license.

The Registration Process

The registration process typically takes 2-4 weeks, which is relatively fast compared to other jurisdictions. We’ll help you navigate the requirements and ensure that your application is completed correctly to avoid any delays.

Requirements for a Comorian IBC

To register an International Business Company (IBC) in the Comoros Islands, you’ll need:

  • Shareholders: At least one shareholder (individual or legal entity)
  • Directors: At least one director who can be the same as the shareholder
  • Registered Agent: A registered agent on the island where you intend to register your forex business
  • Registered Office Address: A registered office address on the island where you intend to register your forex business

Steps for Opening an IBC

Here’s a step-by-step guide to opening an IBC in the Comoros Islands:

  1. Check Company Name Availability: Check the availability of your selected company name with the relevant government authority.
  2. Appoint Registered Agent: Appoint a registered agent who will act as your local representative and receive official communications on behalf of your company.
  3. Draft Company Documents: Draft the necessary company documents, including compliance with national regulations.
  4. Submit Documents to Registered Agent: Send all the documents to the registered agent.
  5. Pay Incorporation Fees: Pay company incorporation fees specified by the business registry of the chosen island.
  6. Registered Agent Submits Registration Documents: The registered agent submits the company registration documents to the relevant registrar of companies.

Required Documents

To open an IBC in the Comoros Islands, you’ll need:

  • Memorandum of Association
  • Articles of Association
  • Notarized Passports: Notarized copies of the passports of shareholders and directors
  • Proof of Address: Proof of address for every shareholder and director
  • Business Plan: A comprehensive business plan
  • Minimum Capital: Proof of possessed minimum required capital
  • Registered Agent Information: Information about the registered agent
  • Compliance Documents: Documents outlining how your IBC will comply with local and international regulations, including AML/CFT

Applying for a Forex License

Once you have your IBC in place, you can apply for a forex license from the regulator of your chosen island. This process typically takes 2-4 weeks, depending on the quality of your application.

To apply for a forex license, you’ll need to:

  • Prepare Required Documents: Prepare all required documents as specified by the regulator.
  • Pay Application Fees: Pay the applicable application fees.
  • Submit Completed Application: Submit the completed application form and accompanying documents to the regulatory authority.
  • Undergo Due Diligence: Undergo due diligence and background checks.

Ongoing Requirements

As a licensed forex company in the Comoros Islands, you’ll be subject to ongoing obligations to maintain compliance with local regulations. This includes:

  • Transaction Records: Maintaining accurate and comprehensive records of all transactions, client information, and financial activities.
  • Financial Statements: Submitting periodic financial statements, transaction reports, and compliance reports.
  • AML/CFT Procedures: Implementing robust AML/CFT procedures, including KYC, due diligence on clients, and monitoring client transactions.

If you’re looking to start a forex trading business in the Comoros Islands, our team at Regulated United Europe can guide you through the process of incorporating a company and applying for a forex license. Contact us now to schedule a personalized consultation and set the stage for long-lasting success.