It is much easier to apply for and be granted a Forex broker license in Belize than in other jurisdictions in the continent. For this reason, a good number of Forex brokers interested in providing offshore brokerage services prefer this IFSC regulated license.
European and Australian FX brokers form a majority of those who strongly prefer offshore license jurisdictions such as Belize. This is because of the strict guidelines and restrictions imposed by industry regulators in those regions. By obtaining an IFSC regulated Forex broker license in Belize, a broker is able to enjoy ease of set up, optimized taxes, and flexible leverage, among a host of other benefits. Below are a few tips that will come in handy when obtaining a Belize Forex license.
How to Obtain a Belize IFSC FX Broker License
The first thing you need to do in order to be licensed as a forex broker in Belize is to establish an International Business Company (IBC). Setting up the IBC involves the following process and documentation:
- Desired name of the IBC, intended management structure, and identification documents of all shareholders for registration purposes.
- Submitting your license application to the International Financial Service Commission (IFCS) for approval. This is done after the company registration request has been approved.
- Establishing the required bank accounts necessary for capital, deposit, and operational purposes. This is done after the license has been approved by the IFSC.
Please note that the Belize IFSC requires you to be physically present in the country and for your company to have local directors for you to qualify for a forex broker license.
Important Facts Related to a Belize FX License
There are a few important facts you need to know before applying for a FX broker license in Belize. These facts are as follows:
- You are required to have a capital base of $500,000
- You should maintain a physical office and your board of directors should also consist of locals to qualify for the license
- It may take about 5 to 6 months for you to obtain the license
- Licensed Forex brokers in Belize have no restrictions in terms of leverage unlike in other jurisdictions such as the UK or Cyprus
- Licensed FX brokers in this country are also permitted to offer money management services to clients
A Belize IFSC Belize Forex license offers brokers more opportunities than those enjoyed by brokers in other jurisdictions. This is why many foreign brokers are strongly considering obtaining this license. We hope the tips we’ve provided above will come in handy when applying for this license.