About the Forex business license


Georgia is the secret tip for company incorporators to setup in no-time a Forex / Binary Option company. There are already more than 200 companies based in the country that proceed those kind of not officially regulated activities. The importance for the financial sector in Georgia creates a unique environment especially for FX companies. The company BL Corporate Services Ltd will setup for you is a proper domestic mainland or entirely tax excempted free zone company. You will receive for this entity the business permission to act as a FX brokerage / Binary Option institute issued by the National Bank of Georgia and/or the Free Zone Management.

Since there is no license for it in the Republic of Georgia, entrepreneurs can officially procceed all kind of related activities with the business acknowledgement / permission but will enjoy financial flexibility and freedom in Georgia. The company can be setup and approved as an FX institute without any specific paid-up capital, securities deposits or other financial requirements.

 

Georgian Benefits:

• Applicants can benefit of some of the most liberal banking and e-money processing laws worldwide, especially in on-boarding
foreign customers and payment flows
• Georgia is NOT member of the European Union but adapted certain parts of European regulation and legislation; but kept their own local laws in order to protect the domestic financial industry to avoid over-regulation
• Georgia is a full OECD Member
• Georgian banks are the most flexible in customer support, service, fees, compliance issues in the Middle East and Europe
• Banks are connected to the IBAN Network and fully SWIFT Members (no intermediary banks needed for your customers to send you funds!)
• Georgia is offering even for licensed / recognized entities to settle down in its own Free Zone (tax free working)
• Permission issuing authority is the National Bank of Georgia (NBG) and/or the Free Zone Management
• Due its location Georgia is geo-stratically perfect to establish a business and connect East to West
• Georgia is attractive for European or in general worldwide incorporators and license obtainers.
• You can proceed all related FX activities - especially also Binary Options
• Georgia benefits of an excellent reputation as a modern financial market place, that allows even to serve offshore clients
• Minimum Requirements in office issues, directors and staff (you will benefit of very low on-going costs)
• Customers of your FX entity will enjoy a maximum of privacy - no regulated or automated data exchange of account holder data

Activities permitted according to the official business license / business permission:

a) FX trading in any kind of currencies;
b) Exchange of currencies into crypto currencies and back;
c) Offering Managed Accounts as long as the trading instruments are related to FX;
d) Trading on behalf of third parties;
e) Trading of listed crypto currencies;
f) Proceed of all activities related to Binary Options;
g) Offering acount openings online to the public
h) You can apply for your own MT4 license from Metaquotes Cyprus, e.g.

GENERAL INFORMATION

According to Global Corruption Barometer of Transparency International, 0% of interviewed reported paying bribe to the tax administration.

World Economic Forum’s Global Competitiveness:

Report named Georgia #9 among low tax rate economies. These emphasize the simplicity and reliability of Georgian tax system.
The Country doesn’t have restrictions on currency convertibility or repatriation of capital & profit.

The permission to proceed forex related activities from and on behalf of third parties in the main reason why to apply to set-up such a company and apply for the business permission. BLs Georgia Package is THE alternative to Panama, Belize and even Vanuatu Licenses that are troubling very often in bank account opening issues or even to get Merchant Accounts to be set-up in order to be able to receive customers funds.

The advantages:
• Fast turnaround - permission is granted usually within 30-60 calendar days
• Permission issued by National Bank and / or the Free Zone Management
• Friendly regulatory regime
• Minimum costs of operation
• No minimum capital has to be paid-in
• Georgia belongs to IBAN system (no intermediary banks needed)
• No need for a fully equiped office in the country
• No need for a compliance officer
• Binary Option permission - almost impossible even for regulated entities in the European Union
• Local Director will be provided in assistance
• Nominee Shareholders of the FX company are permitted
• No taxation of re-invested profits (e.g. in another company abroad or within Georgia or within the own company)
• Low taxation of 20% that can be reduced extremely by re-investments or by paying external suppliers, e.g. software providers, data streaming, payment providers for infrastructure, marketing companies etc)

WHAT PERSONAL DOCUMENTS ARE REQUIRED?*

(1) Notarized passport copy with apostille (passport must still be valid for at least 6 months) - in original
(2) Simple Police Clearance Certificate / Certificate of Non Criminal Conviction - in original
(3) POA undersigned and notarized for our Georgian lawyers to arrange everything in your absence - original.

The documents (1) (2) (3) have to be couriered to our lawyers in Georgia.

(4) 2 name suggestions for your company name - via email
(5) Proof of address - gas / water / electricity bill / bank statement of the owner / second director - via email

* 22/04/2017 changes from regulators side or from authorities can apply at any time.

STEP 1: DOCUMENTS SET-UP

Submit a simple high resolution passport scan and your proof of address to info@financial-licenses.com. Our Georgian lawyer will prepare the POA. With this document and your passport you visit your local Notary Public and let them certify as True Copies of the Originals. Arrange the apostille for the passport notarization and apply for the Police Clearance Certificate. Courier then all originals to address we will provide you.

STEP 2: COMPANY INCORPORATION & DOCUMENTS SET-UP

The company formation takes usually 1 week (European standard) until all filed documents are available and the company is entered in the register. You will receive a second Director on your side. This „nominee“ Director is responsible for the bank account openings and fulfill the requirement, that at least one member of the board is residing 14 days in a month in Georgia.
This step also includes the entire documents setup (Application docs, licensing/business activity docs, general company information docs, renting the little office space, description of the internal procedure handlings, software use, payment infrastructure etc). - this all will be done in the language Georgian (requirement for application process).

STEP 3: APPLICATION FOR THE BUSINESS LICENSE CERTIFICATE

Your application will be submitted to the National Bank of Georgia and / or the Free Zone Management. Usually it will be granted within 2-3 weeks. Our lawyer will pick up the original business license and provide you this electronically and in original of course.

STEP 4: LICENSE APPROVAL + ACCOUNT OPENINGS FOR THE LICENSED ENTITY IN GEORGIA

Lawyers will pick up the issued licenses/permissions for you. The second director in Georgia will open the bank accounts and submit all codes, credit cards, online banking accesses in sealed envelopes to you via courier services.

PRICING AND SERVICE FEES

Full Forex business license package incl. company, documents setup, business licensing support, bank acc openings, office address etc and VAT from lawyers side: 15,950 EUR (no additional capital requirements)

company formation from the distance, POA to set-up the company without travelling, POA to launch the application and correspondence, on-going correspondence with National Bank of Georgia, Registered Office Fee for the first year, shareholder / owner declaration, appointment of director(s), set-up business description, preparations before business license application is launched, launching of the application / on-going support, translation work for all documents (required), translation of foreign personal documents from English into Georgian, acquisition of accountant and appointment, acquisition of second director, 2 full bank accounts with own IBAN in Georgia in the name of your new entity.

BL HOLDS ESCROW YOUR FUNDS AND WILL ONLY THE PAY OUR GEORGIAN PARTNERS WHEN YOUR BUSINESS LICENSE AS A FOREX INSTITUTE HAS BEEN ISSUED SUCCESSFULLY! MORE SAFETY IS NOT POSSIBLE!

On-going costs (up from second year)
Required local second director >> 2,500 EUR per year
Registered Office Address >> 1,000 EUR per year

Optional Services

Introduction for Co-Branding via VISA Member in Hong Kong >> 1,000 USD
Correspondence accounts with payment providers in Asia >> free
(Accounts in HK and Indonesia)
Payment Provider Introduction CZ for reduced SEPA Payments >> free
Accounting / StB >> 30 USD / hour
Free Zone Company Setup / tax free >> 7,500 USD one time fee

Capital Requirements / Authorized Capital of the company

Authorized capital recommended >> included in company formation prices
Securities Deposit / Capital Requirements >> not applicable, 0.00 EUR
Changes in requirements and services can apply anytime without our influence.

All VAT that might apply are included in our services.
All translation costs that might apply | *** software prices of course not included.

Bank Accounts in Georgia

The Georgian License is priceless. You can open anywhere in Georgia bank accounts for your new company. 2 full SWIFT connected IBAN accounts in the name of the company as account holders are already included - also Debit Cards for the owners of the company.
If you wish to execute SEPA payments within the European Union we can introduce you to a partner payment provider in Czech Republic to do these transfer executions via their platform to special conditions up from 3,00 EUR Europe wide.


Some of the most popular operating banks in Georgia. Most of the private banks in Georgia are owned by German or Austrian Banks or Credit Unions.

Payment Service Provider Connections in Asia and SEPA Zone.

Introduction to regulated payment providers that are fully connected to the SEPA System. You will be able to do co-brandings via VISA Hong Kong and receive customers funds via their infrastructure in Asia with great correspondence bank partners as Cathay Pacific Bank and Bank Sinarmas.


Co-Branding Debit Cards

with up to 15,000 EUR / 15,000 USD daily withdrawal limit one of the highest volume cards on the planet. We will give you a direct introduction to the card issuer.


FREE: Optional Service: Brokerage Introduction

A fully EU-regulated brokerage institute with cross-boarder permissions all over the EU will gladly accept your application as external IB / Money Manager if you wish to use their trading infrastructure (Metatrader, Multi Account Manager etc...). Especially if you offering Managed Accounts or an own FX portfolio the pooled money can be traded then in a safe European environment. You will receive a commission account, can adjust mark-ups on the currency pairs and then trade your customers funds if you want to outsource this activity. This service is optional and not required for your Georgian FX / Binary Option Company.

 

+500 EUR one-time: Optional Service: Liquidity Providers

If you are in need for a liquidity provider, just contact us. We will be able to assist in setting a partnership between your Georgian entity and European-, UK and Australian liquidity providers.