{"id":9719,"date":"2023-09-14T04:44:08","date_gmt":"2023-09-14T03:44:08","guid":{"rendered":"https:\/\/www.kaithconsultants.com\/offshore\/?page_id=9719"},"modified":"2023-11-16T09:34:03","modified_gmt":"2023-11-16T09:34:03","slug":"comoros-international-brokerage-and-clearing-house-license","status":"publish","type":"page","link":"https:\/\/kaithconsultants.com\/offshore\/comoros-international-brokerage-and-clearing-house-license\/","title":{"rendered":"Comoros International Brokerage and Clearing House License"},"content":{"rendered":"\t\t
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Kaith Consultants\t\t<\/span><\/span>\t<\/div>\r\n\t\t\t\t

License Permitted Activities<\/h2>\t\t\r\n\t

The International Brokerage & Clearing House License introduced in 2007 allows for the license holder to engage in activities such as:<\/p>

  • Stock Brokerage<\/li>
  • Securities Brokerage<\/li>
  • Financial Advisory<\/li>
  • Asset Management<\/li>
  • Fund Management<\/li>
  • Custody Services<\/li>
  • Transaction Clearing<\/li>
  • Payment Processing<\/li>
  • Currency Trading (FOREX)<\/li>
  • Issuance of Securities<\/li>
  • Underwriting of Securities<\/li><\/ul>

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      The Comoros Regulatory Authority<\/h2>\t\t\r\n\t

      The license is issued and regulated Comoros Financial Services Authority in Mwali, autonomous island of the Union of the Comoros<\/p>

      Why Choose Comoros;<\/strong><\/p>

      • Global Opportunities; Access to international financial markets and a diverse client base.<\/li>
      • Cost-Effectiveness - Lower licensing fees and operational costs compared to other jurisdictions.<\/li>
      • Favourable Regulation -A supportive regulatory environment that promotes efficiency and transparency.<\/li>
      • Confidentiality and Privacy - Strong commitment to privacy protection and data security.<\/li><\/ul>

        Operational Requirements; IBC<\/strong><\/p>

        • In order to apply for a license, the applicant must first establish an International Business Company (IBC) in Comoros;<\/li>
        • The IBC should have a minimum of one director who can be of any nationality and resident anywhere;<\/li>
        • The IBC should have a minimum of one shareholder which can be an individual also acting as director or a Company registered in any other jurisdiction;<\/li>
        • Minimum share capital is EUR 250,000, it should be either paid-up to the company\u2019s account or presented as a balance of the shareholder\u2019s bank statement balance.<\/li><\/ul>

          Requirements for Directors and Shareholders<\/strong><\/p>

          • Notarized copies of operative pages of passport;<\/li>
          • Certified utility bill as a proof of address;<\/li>
          • Bank statement with a residential address as a secondary proof of address;<\/li>
          • Bank reference letter;<\/li>
          • Updated CV;<\/li>
          • Bank statement of the UBO with EUR 250,000 on the balance as a guarantee of share capital payment.<\/li><\/ul>

            If the holding company is involved (i.e. where shareholder is a company):<\/strong><\/p>

            • Certificate of Incorporation;<\/li>
            • Memorandum and articles of association;<\/li>
            • Details of Registered Office and Principal place of Business and directors, shareholders;<\/li>
            • Recent set of accounts and Resolution approving Investment\/shareholding as appropriate;<\/li>
            • Any corporate brochures;<\/li><\/ul>

              Personal KYC as per requirements above for all the shareholders\/UBOs\/directors of the holding company<\/p><\/div>\r\n\t<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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              Step by Step License Application Process <\/h2>\t\t\r\n\t

              Step 1<\/strong>: Collection of Information<\/p>

              • Due diligence and KYC checks. 2. Name check and reservation.<\/li><\/ul>

                Step 2<\/strong>:\u00a0 Preparing Application Forms, Drafting and Compiling Documentation & Reviewing of Application<\/p>

                • Providing client with the information, documents and requirements for applying for the License;<\/li>
                • Assisting client in answering questions about the application process and requirements for a Comoros International Brokerage & Clearing House License;<\/li>
                • Checking the scans of the filled documents and forms;<\/li>
                • Reviewing, suggesting amendments to finalize the application form and questionnaires;<\/li>
                • Reviewing all documentation;<\/li>
                • Drafting the Memorandum and Articles of Association of the Company;<\/li>
                • Sending client, the Memorandum and Articles of Association for review and confirmation. Upon confirmation this will be signed by local secretary as the Subscriber.<\/li><\/ul>

                  Step 3<\/strong>: Filing Application with the MWALI<\/p>

                  • Once the application is ready, it is filed with the MWALI together with the requisite fees.<\/li><\/ul>

                    Step 4<\/strong>:\u00a0 Follow up and liaising with MWALI<\/p>

                    • Follow up with MWALI, attend to any queries until the outcome of the application is given by MWALI.<\/li><\/ul>

                      Timeline<\/strong><\/p>

                      Assuming client provides the Regulator with all the necessary information required, license shall be granted from 4 weeks.<\/strong>\u00a0<\/strong><\/p>

                      Other optional services;<\/strong><\/p>

                      • Bank account opening assistance<\/li>
                      • E-money account opening assistance<\/li>
                      • Card payment solution opening assistance<\/li>
                      • Legal opinion<\/li><\/ul>

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                        \n Request a Call Back <\/h3>\n <\/div>\n \n
                        \n Call Back Form<\/legend>