The Sierra Leone Forex and CFDs Brokerage License allows both STP and market making activities on an Online Forex and CFDs trading platform
The Sierra Leone regulatory authority
The license is issued and regulated by the Sierra Leone bank
Why Choose Sierra Leone;
- Existence of policies supporting foreign direct investment - The Government of Sierra Leone has a positive attitude towards FDI.
- No limits on foreign control and right to private ownership and establishment
- Government business facilitation - The government established the National Investment Board (NIB) in 2022 to coordinate, facilitate and promote business investment in Sierra Leone
- Cost-Effectiveness – combatively lower licensing fees and operational costs
- Favourable Regulation -A supportive regulatory environment that promotes efficiency and transparency.
- Shorter time lines – it takes a relatively short period to obtain this license.
Operational Requirements;
- In order to apply for a license, the applicant must first establish a limited liability Company in Sierra Leone;
- The company should have a minimum of 2 local directors who can be of any nationality but residents in Sierra Leone;
- The Company should have a minimum of one shareholder which can be an individual also acting as director or a Company registered in any other jurisdiction;
- No minimum paid up capital requirements
- Company can be 100% owned by foreigners
Requirements for Directors and Shareholders
- Certified true of passport;
- Certified proof of address, e.g. utility bills or bank statement
- Bank reference letter;
- Updated CV;
- Proof of source of funds e.g. Bank statement.
If the holding company is involved (i.e. where shareholder is a company):
- Certificate of Incorporation;
- Memorandum and articles of association;
- Details of Registered Office and Principal place of Business and directors, shareholders;
- Recent set of accounts and Resolution approving Investment/shareholding as appropriate;
- Any corporate brochures or company profile;
Personal KYC as per requirements above for all the shareholders/UBOs/directors of the holding company
