Getting a Belize Forex brokerage license gives brokerage firms possibilities to be officially present on the market, operate as a regulated party and hold client funds. But all business-activities of each company are subject to stringent regulations, which will have to be supported by appropriate reports sent to a special authority. Belize is suitable as a lucrative space for the work of investment firms. Loyal laws, which are based on the legal model of Britain, make Belize quite appealing and profitable for brokers. The local regulatory institution is International Financial Commission – IFSC, which issues permits and controls this area.

Our firm has been working in the field of launching and licensing business-projects worldwide for plenty of years. We provide comprehensive professional assistance in getting Forex licenses in Cyprus, Estonia, Hong Kong and others.

FX licenses requirement list in Belize

Let’s consider the main criteria set by official authorities.

1. To operate in the brokerage-services field and get Forex license Belize, it’s needed to possess 1 director and shareholder (individual or other organization; it may not have a resident-status).

2. Properly designed and implemented programs and mechanisms to maintain the complete confidentiality and security of customer data.

3. Directors of firms need to possess work expertise and proof of qualification in brokerage sphere.

4. It is important to draw up business-plan, financial predictions for next 5 years, and collect all other documentation.

5. Company’s presence in country: it is necessary to have an office and local employees.

6. It is also required to get a bank account and pay minimum capital and all fees.

Local Laws regarding issuance of permits for Forex-brokers were updated in 2016:

• starting capital was previously 100 thousand dollars, now the amount has increased to 500 thousand;

• the cost of renewing a license permit is now $25,000 per year;

• state application fees are $1,000.

Firms that hold a Belize Forex brokerage license are needed to submit financial statements for quarter-period, and an annual report. A firm secretary can be individual residing anywhere and without nationality normative rules.

Basic documentation what is needed for IFSC:

• a properly completed, signed and certified by an authorized notary application-form for license;

• directors and shareholders biography and resumes;

• copies of passports, bank records and countries of residence with recommendations separately for directors;

• business-plan.

In addition, the regulator has the right to request supplementary documentation and data if information provided is not enough.

Types of Forex-licenses in Belize

There’re three types of permits for owners of brokerage-companies:

• foreign currencies trading;

• work with securities and financial tools;

• advising on any type of financial service range.