Forex Trading Business in Seychelles

The development in international trade has led to a rise in the demand for foreign currencies globally. The offshore incorporations are a significant reason for the growth of this demand. Offshore locations such as Seychelles offer a safe and convenient way of trading with multiple currencies. This jurisdiction has become a favourable ground for offshore trading, offering higher security and confidentiality than other popular offshore jurisdictions. 

However, a Seychelles forex license is mandatory to operate this business. Having this license will provide investors and clients with confidence.

Advantages of Starting a Forex Trading in Seychelles

Starting forex trading in Seychelles provides the following advantages. 

  • Flexible taxation
  • Access to multiple currencies
  • Stable business environment
  • Strict banking laws
  • Access to global markets

How to Start a Forex Business in Seychelles?

Incorporating your offshore forex trading in Seychelles can be done by following the steps below.

The first step to proceed is to plan your business. You must focus on the following things during Seychelles forex trading.

  • Setup cost
  • Target market
  • Financial planning
  • Marketing strategy

Choosing a brand or business name is essential for company formation. Before proceeding, ensure that the desired trade name is not a copy of the competitors' available trade names.

After choosing your trade name, ask for advice from the business consultant. Try to have a deep and meaningful conversation with your specialist so you can make the correct decisions.

In the next step, you must create a legal business entity by presenting the essential reports for company incorporation

The necessary set of documents required for the offshore forex trading are,

  • A well-drafted business plan
  • A duly filled business application form
  • Passport-size Photos of the director(s) and shareholder(s)
  • Identity and address proof of the director(s) and shareholder(s)

The papers should be given to the offshore consultant, who will assist with getting the required approvals from the government authorities. 

Next, you must open an offshore bank account to perform business transactions. Since it deals with the forex trading business, opening an offshore bank account in a jurisdiction is necessary.

Finally, it becomes essential to maintain the business transactions appropriately to streamline and get important data at whatever point is required. 

What are the documents required to obtain a Seychelles Forex License?

In order to obtain the Seychelles forex license, the following documents need to be submitted:

  • Power of attorney
  • Registration number
  • Noncompete agreement
  • Agreement of Employment
  • Resolution to pick an accountant
  • Resolution to pick a company attorney
  • Offshore bank account opening resolution
  • Details of director and shareholder registration
  • Name of the company filing for legal protection
  • Filing and registration details of notary and government officials

Note: If you want to learn more about the Seychelles forex license cost, contact Business Setup Worldwide. The experts at BSW can help you with the cost and incorporate your company hassle-free.