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Old Ways Won’t Open the New Doors

July 10, 2017
OFFSHORELICENSE has developed new and more attractive markets that may substitute Vanuatu in terms of entry and maintenance requirements

Thus far, a considerable number of OFFSHORELICENSE clients have chosen Vanuatu in order to obtain Forex license (Dealer’s in Securities license), however, due to the changes occurred in mid-June 2017, the bond deposit requirements increased from $2.000 USD to $50.000 USD, thus making the jurisdiction not as attractive anymore. Also, Vanuatu Financial Services Commission (VFSC) has requested all companies to pay renewal fees irrespectively of the incorporation date, meaning that companies registered in 2017 will have to pay the annual fees already in 2017.

Taking this into consideration, OFFSHORELICENSE has developed new and more attractive markets that may substitute Vanuatu in terms of entry and maintenance requirements. The brief overview of the alternative options is listed below:

Cook Islands is an interesting and respectable alternative being similar to Vanuatu, while not appearing on the Financial Action Task Force (FATF) list and being a member of The Hague Convention on Apostille. The government bond is $10.000 USD and set-up fees match those of the Vanuatu. The only and major difference is that there is a requirement to have a local office. However, this can be outsourced and used wisely.

Mauritius enjoys proper due diligence and reputation of a compliant offshore, at the same time offers great banking facilities in the jurisdiction itself. The company apart from others, may enjoy local banking facilities with ABC Banking Corporation, AfrAsia Bank Limited, Mauritius Commercial bank and State Bank of Mauritius. Mauritius requires either $33.000 USD or $333.000 USD as a paid-up capital depending on the license type. This requirement is still lower than in Belize, and more predictable than of other jurisdictions. The local legal framework requires the licensed company to have an office on the islands, and two local directors.

OFFSHORELICENSE will guide you through the process and will offer a turn-key solution including professional candidates for the position of resident employees. In the meantime, we are expecting other jurisdictions to regard this case as a possibility to attract investors who no longer can or are willing to operate in Vanuatu, hence the new regulatory frameworks will appear in the nearest time.

With OFFSHORELICENSE you are always assured to receive the best service with the most suitable jurisdiction that would match your needs and establish a stable long-term co-operation. For more detailed information regarding the details provided above, feel free to contact us via our website OFFSHORELICENSE.COM.

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