Forex license in
Saint Lucia 2024
St. Lucia is considered as the most straightforward and attractive option for launching a forex brokerage business. Its minimal compliance requirements and low taxation have established it as an ideal entry-level solution for those aspiring to break into the industry. Legalaes ensures you that you secure the necessary accreditations to start your forex business smoothly and efficiently.
Regulations for Forex broker license in Saint Lucia
The Financial Services Regulatory Authority of Saint Lucia oversees the supervision, regulation, and operations of the financial sector. The creation of the FSRA was made possible by the passing of the Financial Services Regulatory Authority Act, known as Act No. 13, in 2011
Taxation of forex companies in St. Lucia
- Corporate income tax is set at 0%
Types of Forex licensing in Saint Lucia
The FSRA license is the sole type of forex broker license offered in Saint Lucia. Holders of this license are authorized to engage in a wide array of activities, including:
| License type | Description of license |
|---|---|
| Multi-Asset Trading Strategist | Conducting trades in diverse financial instruments (including securities, currencies, commodities, futures, etc.) for clients or the organization itself. |
| Securities Trading Specialist | Engaging in the purchase and sale of securities with another party. |
| Portfolio Management & Asset Custody | Administering the client’s portfolio, granting the first party ownership rights over the second party’s assets. |
Overview of requirements to obtain forex license in Saint Lucia
- Incorporate a company under the Saint Lucia Companies Act as either an LLC or an IBC.
- Submit documentation for the company’s shareholders and director.
- Complete and submit the application form.
- Appointing additional company staff is not required; however, depending on the business model and for verification purposes with software/service providers, appointing an AML officer may be necessary for approval.
- A local office is not mandatory, however, certain service providers may require a lease agreement, which can be facilitated by Legalaes.
Estimated time frames to obtain forex license in St. Lucia
Business name verification
1 day
Company formation with Forex authorization
up to 5 days
Legal services for obtaining Forex license in Saint Lucia
Basic Package
5,500 USD initial set up
- Turnkey Forex company formation
- Company name verification
- Legal address for 1 year
- Corporate documents
- Government fees
Registration of the Forex licensed company in St. Lucia under the minimum regulatory requirements
Additional services on request
- Re-domiciliation process from SVG or any other jurisdiction to St. Lucia
- Legal opinion
- Tailored AML/KYC policies
- Document package for your website
- Assistance in opening bank account
- Setting up KYC/KYT provider
- Apostilled corporate documents
- Business plan
- Legal support
Jegor Kupratsevits
Head of Finance Projects
Requirements for Forex licensing in St. Lucia
List of required documents
- Passport and Proof of Address: Submission of a valid passport copy and a recent proof of address for each shareholder, ensuring the authenticity of identity and residence.
- Curriculum Vitae (CV) of Shareholder: Provision of a detailed CV for each shareholder, highlighting professional experience and qualifications relevant to the business.
- Compliance Maintenance: Commitment to maintaining moderate compliance within your organization, aligning with industry standards and regulatory requirements.
- LLC or IBC Registration: Registration of the company as a Limited Liability Company (LLC) or International Business Company (IBC) in accordance with the local Companies Act, establishing a legal entity recognized under local law.
- Application Form Submission: Filling out and submitting the designated application form for obtaining Forex license in Saint Lucia, ensuring all information provided is accurate and complete.
Share Capital and Government Fees
- Minimum share capital: There is no requirement for a minimum share capital for company registration or forex license in Saint Lucia.
- Annual government fee: An annual government fee of US$300 is required to maintain the company.
Personnel Requirements
- Appointing staff is not mandatory for a Forex license in Saint Lucia. However, depending on the business model and for verification purposes with software or service providers, appointing an Anti-Money Laundering (AML) officer may be necessary. Legalaes can manage all HR functions to facilitate this process.
Business premises requirements
- While a local office is not mandatory for obtaining a Forex license in Saint Lucia, some service providers may still require a lease agreement. Legalaes can provide this service on request.
Roadmap of obtaining Forex license in Saint Lucia
For more detailed road map of the project and commercial offer – get in touch with our Forex professional.
Jegor Kupratsevits
Head of Finance Projects
Initial Setup
The initial step is to choose between registering as an International Business Company (IBC) or a Limited Liability Company (LLC), based on your market goals. An IBC, ideal for operations outside the Caribbean due to its exemption from foreign income tax, contrasts with an LLC, required for Caribbean operations. This phase includes document collection and preparation, guided by your business objectives, to facilitate a smooth setup. For Caribbean operations, acquiring a Financial Services Regulatory Authority (FSRA) license is necessary.
Submission
This phase is dedicated to the careful review and submission of the complete document package to the regulatory authority. Communication with the local regulator is maintained to minimize delays, aiming for a rapid operational start, within as little as two weeks.
Bank Account and additional documents
Following the issuance of the Certificate of Incorporation, attention turns to opening a bank account and preparing additional documents. Service providers, such as “Metaquotes”, commonly request a legal opinion to ensure the company adheres to local laws and international compliance standards.
Operational Launch
The final stage marks the start of operations, with continuous support provided to ensure regulatory compliance through vigilant monitoring and reporting, upholding adherence to both local and international standart.
Advantages of registration Forex company in Saint Lucia
01
Rapid Company Formation
Launch your company within just two weeks, streamlining your entry into the market with efficiency and speed
02
Open to All Backgrounds
No previous experience in finance required, making it accessible for entrepreneurs from diverse fields to enter the industry
03
Guaranteed Confidentiality
St. Lucia prioritizes confidentiality, ensuring that shareholder information remains private and protected from public disclosure
04
Unrestricted Foreign Ownership
Enjoy the freedom of 100% foreign ownership of your company, with no residency requirements, offering maximum control and flexibility
05
Cost-Effective Scaling
Benefit from low maintenance fees, facilitating quicker and more economical company growth
06
Tax-Free Advantage
Operate internationally without tax obligations if your business activities are outside Saint Lucia
Links for legislation related to Forex business in Saint Lucia
The Financial Services Regulatory Authority in Saint Lucia, alongside the Eastern Caribbean Central Bank, plays a pivotal role in the oversight, regulation, and supervision of the financial sector’s operations, including the issuance of a Forex license in Saint Lucia. Together, they ensure the stability and integrity of financial practices within the region, fostering a secure and prosperous economic environment.
Provides a legal framework for International Business Companies, offering ease of incorporation and operational flexibility to attract global business interests.
Regulates the registration of business names, ensuring transparency and trust in the business landscape.
III. Eastern Caribbean Central Bank Anti-Money Laundering/Counter-Financing of Terrorism (AML/CFT) Act
Sets stringent guidelines for financial institutions to prevent, detect, and report money laundering and terrorism financing, maintaining the integrity of the financial system.
FAQ about Forex license in Saint Lucia
1. Who can apply for a Forex company in Saint Lucia?
Saint Lucia does not have specific residency, experience, or educational requirements on shareholders, making it an appealing choice for newcomers to the financial market.
2. What is the cost of registering a Forex company in Saint Lucia?
The cost is competitive compared to other jurisdictions. For 4,900 USD, you receive a legal entity covering all government fees and professional services. For additional services, Legalaes offers consultations to provide a tailored proposal based on your business objectives.
3. What are the benefits of registering your Forex company in Saint Lucia?
Saint Lucia is notable for its exemption from corporate tax on foreign income and quick processing times. It serves as an ideal sandbox for forex brokers seeking to test their concept before pursuing other licenses or making platform modifications. This jurisdiction offers a cost-effective solution for scaling your forex brokerage business.
4. What services can I provide with a Forex company in Saint Lucia?
- Execute trades in various financial instruments: securities, currencies, commodities, and futures, either for clients or on behalf of the organization.
- Specialize in the purchase and sale of securities in transactions with others.
- Manage client portfolios and ensure the custody of assets, with clients retaining ownership rights.
Each of our projects receives unique and tailored solutions in accordance with the initial objectives and vision of the shareholders.
May also interest you
