Bahamas Forex License
Located a mere 80 kilometers southeast of Florida, The Bahamas has historically been a hub for U.S. and European asset managers. The stable, democratic island-nation hosts a cadre of the world’s largest financial services firms. An estimated $800 billion is managed through The Bahamas and assets under management continue to grow as financial professionals find solace in the country’s flexible regulatory scheme. This includes Forex brokers operating with a Bahamas Forex License.
The Bahamas continues to be an attractive offshore jurisdiction today as it shed its previously well-earned reputation as a tax haven. However, The Bahamas nevertheless offers zero income tax and no tax on capital gains. Voluminous banking options combined with membership in the British Commonwealth makes the country an attractive locale for obtaining a Bahamas Forex License that gives the holder near-global access to the Forex markets.
The Bahamas is an ideal location for promoters of Forex businesses. The Bahamas offers registration under its Securities Industry Act which covers all related forex activity, including both acting as an introducing broker and direct broker. Banking is flexible and easy to come by in the Bahamas for licensed entities, including Tier 1 and 2 banks. Moreover, applicants are required to appoint a Bahamas-based Chief Executive Officer and Compliance Officer, of which there are a plethora of suitable individuals routinely serving the offshore forex promoter.
Advantages of a Bahamas Forex License
Aggregate daily trading volume in the Forex markets exceeds $4 trillion. The streamlined and cost-effective process in obtaining a Bahamas Forex license can place you in this lucrative market in as little as three months. With increased volatility in the global currency markets, spreads have increased – and with that so have Forex brokers’ profitable to the tune of over $1 billion annually. As such, smaller Forex brokers are capturing tremendous returns owning just a small piece of this lucrative market.
Bahamas Forex License at a Glance
|License||Securities Industry Act Registration|
|Time to License||2 to 3 Months|
|Capital Requirement||US120,000 (Broker)/US300,000 (Principal)|
|Tax Structure||No income or capital gains tax|
The Bahamas Forex License Package
- Incorporation of Bahamas offshore corporation
- Arrange for local registered officer, local directors, local office and hosting
- Draft corporate bylaws, minutes and owner share issuances
- Establishment of corporate bank account suitable for forex operations
- Establishment of merchant service account for accepting credit and debit cards as well as electronic money and cryptocurrency
- Draft requisite business plan, financial statements and financial projections
- Draft requisite Anti-Money Laundering & Know-Your-Customer and related policies and procedures
- Arrange software providers, affiliate networks and prime broker
- Prepare and process application for registration under the Bahamas Securities Industry Act
- Representation before Bahamas Securities Commission, banks and liquidity providers
- Ongoing legal, compliance and operational support
Contact the Bahamas Forex License Experts
Trust our over fifty year’s combined experience in creating innovative solutions for our clients. Contact the forex
licensing experts at FinLaw to begin the process of obtaining your Bahamas Forex License today.
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