Application period: 2 weeks
Requirements: Local legal address, local director
Required documents: Passport; Utility, Bank reference letter
Capital – not required
- Monthly operational fee: $500
- Application fee: $24,000
Forex License in Mohéli by M.I.S.A. – Mwali International Services Authority
The island of Mohéli, located in the Comoros Union off the east coast of Africa, has been steadily attracting the interest of international investors and financial institutions. The Mwali International Services Authority (M.I.S.A.) and the advantageous financial regulations it provides are central to this interest. In this article, we delve into the nitty-gritty of obtaining a Forex license in Mohéli, exploring the requirements, process, costs, and other pertinent details.
1. Mohéli Forex License Requirements
- An address for the registered office in Mohéli.
- A minimum of one director and shareholder (who may be the same person).
- Verification of the identities of company officers and owners.
- Adequate capital, as defined by the licensing type.
- Due diligence entails conducting financial checks and background checks on the company’s key personnel and major shareholders.
2. Procedure for Obtaining the Moheli Forex License:
- Consult our expert to determine the precise license type required.
- Collect and organize all required documentation.
- The application must be submitted to M.I.S.A.
- Undergo due diligence and authority review.
- Pay the necessary licensing fees upon approval.
3. Moheli Forex License Documents Requested:
- Identification documents for company officers and shareholders.
- Evidence of a registered address in Mohéli.
- Passport; Proof of Residence, Bank reference letter
- A description of the services that will be offered.
- Any additional documentation required by M.I.S.A.
4. Moheli Forex License Prices and costs:
The exact cost of obtaining a Forex license in Mohéli depends on the type of license and the services you intend to provide. To obtain accurate numbers, it is essential to consult GBO’s regulation expert.
What is the cost of a Moheli Forex License?
You can expect a Moheli Forex license to cost between €15,000 to €25,000, depending on the exact corporate structure. This fee includes all the necessary steps to be undertaken to get your Forex license and operation up and running, including the incorporation of a holding company, the license and other assistance by our experts.
5. Advantages of Obtaining a Mohéli Forex License:
- Tax Advantages: Mohéli’s corporate tax rates are remarkably competitive at 10%. No additional taxes are imposed on dividends, interest, or capital gains.
- Companies, including IBCs, can be registered online within twenty-four hours.
- Political Stability: Mohéli’s environment is politically stable, making it suitable for long-term investments.
- Mohéli has its own financial sector distinct from the Central Bank of Comoros.
- Reputation of M.I.S.A. With over 12,000 companies registered, the authority’s credibility speaks for itself.
The disadvantages are:
- Global Recognition: A Mohéli FX license may not be globally recognized. It is essential to ensure compliance with regulations in every country where operations are planned.
- As with any offshore Forex jurisdiction, regulations are subject to change. Keeping current is essential.
What is M.I.S.A.? Mwali International Services Authority
In 1998, the Union of the Comoros, which consists of four autonomous islands, granted Mohéli (Mwali) significant autonomy. In 1998, the government of Mohéli passed the Mwali Services Law, a revolutionary piece of legislation for the incorporation of various businesses. 2001 and 2013 saw amendments to this statute, with 2019 bringing regulations for virtual currencies.
- The Constitution of Mwali strongly supports the autonomy of corporations, banking, and other industries. The M.I.S.A., backed by this constitution, stands as the sole authority for Mohéli, overseeing financial services and licensing.
- In conclusion, Mohéli’s favorable tax environment, streamlined registration process, and strong backing by M.I.S.A. make it a compelling option for those looking to enter the Forex market. However, as with all business endeavors, due diligence and local consultation are essential for navigating the licensing process’ complexities.
What are the differences between the Mohéli (Mwali) Forex license and the general Comoros Forex license?
Primarily due to Mohéli’s unique constitutional and administrative status within the Comoros Union.
Here are some important considerations:
- The Union of the Comoros comprises four autonomous islands: Mwali (Mohéli), Maoré (Mayotte), Ndzuwani (Anjouan), and N’gazedja (Grande Comore). According to the Comoros Union Constitution, each island possesses significant freedom and autonomy, including its own Constitution, President or Governor, and Parliament.
- The island of Mwali (Mohéli) has its own financial sector separate from the greater Comoros Union. It is not regulated by the Comoros Central Bank. Mohéli has its own internal legislation for the management and control of the Offshore Financial Services sector.
- The Mwali International Services Authority (M.I.S.A.) is the sole authority responsible for financial services and licensing in the autonomous territory of Mohéli (Mwali). This distinction is significant because it means that Forex licenses obtained in Mohéli are specifically governed by M.I.S.A and not by a broader national regulatory authority of the Union of the Comoros.
- While a Mohéli Forex license permits operations within Mohéli’s jurisdiction, it may not be recognized throughout the entire Comoros Union or internationally. It is essential for brokers to ensure compliance with regulations in all regions where they will conduct business.
- Given Mohéli’s autonomy and its own regulatory authority in M.I.S.A., it is likely that obtaining a Forex license in Mohéli is subject to requirements, processes, and regulations that differ from those of the Comoros Union as a whole.
- If contemplating obtaining a Forex license in Mohéli or anywhere else in the Comoros Union, it would be prudent to consult with legal and financial professionals who are familiar with the specific regulations of the respective jurisdiction in order to obtain accurate and current information.