Agree, Comoros is a Garbage, yet its still possible to get some payment solutions with this garbage, platform and traffic.
Best Affordable FX Brokerage License Options Today (Budget ~$50K)
- Thread starter gatrader
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minimum of 80-150k, depending on the license and permissions.
South African license would probably be the cheapest, no share capital requirements but it would still require local office and director.
South African license would probably be the cheapest, no share capital requirements but it would still require local office and director.
I can only speak from my own experience getting licenses like this in Mauritius and other places. And, without digging up old emails, I wouldn't know what the total cost actually is. These are usually pretty long-lasting projects where the scope may change during the process. However, I wouldn't expect anything less than well into six figures once you factor in all surrounding costs like corporate service fees, legal fees, salaries for︀ required employees/contractors, office space, flights to/from the jurisdiction (face to face meetings with the regulator︁ often required/expected), insurances, certifications, pre-launch audits, and so on.
You're focusing on the wrong part︂ of the project: the minimum share capital. That's not what it costs. That's the bare︃ minimum capital you need to have in addition to paying for everything else around.
On top of the costs and minimum paid-up share capital, banks will often ask for a︄ security deposit to open an account for you. That's not always the case and is︅ often not required. Depends on what you do, who your bank is, and the overall︆ risk profile. Worth looking into, though. I've seen a couple of projects nearly fail because︇ the founders had to quickly raise another few hundred thousand to put in as collateral︈ with a bank.
You're focusing on the wrong part︂ of the project: the minimum share capital. That's not what it costs. That's the bare︃ minimum capital you need to have in addition to paying for everything else around.
On top of the costs and minimum paid-up share capital, banks will often ask for a︄ security deposit to open an account for you. That's not always the case and is︅ often not required. Depends on what you do, who your bank is, and the overall︆ risk profile. Worth looking into, though. I've seen a couple of projects nearly fail because︇ the founders had to quickly raise another few hundred thousand to put in as collateral︈ with a bank.
Hi!
Saw your comment about buying a ready-made license with only ownership change , totally agree that it saves time.
Would you mind sharing where such licenses can︀ be bought or if you have any reliable contacts or service providers you’d recommend?
Appreciate any guidance!
Saw your comment about buying a ready-made license with only ownership change , totally agree that it saves time.
Would you mind sharing where such licenses can︀ be bought or if you have any reliable contacts or service providers you’d recommend?
Appreciate any guidance!
Hello
For Mauritius I can make an introduction with a local company there with competitive prices. One of the principals used to work with ABC Bank in Mautitius for more than 10 yrs so you know you are not dealing with a parachutter. Let me know and I can make an intro through email. For Cyprus fx cos you can talk directly with our office.
For Mauritius I can make an introduction with a local company there with competitive prices. One of the principals used to work with ABC Bank in Mautitius for more than 10 yrs so you know you are not dealing with a parachutter. Let me know and I can make an intro through email. For Cyprus fx cos you can talk directly with our office.
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