We always consider consultation to be the first and most important step in setting up an offshore company. Once we know the scope of the company's activities and the circumstances in which it operates, we usually propose a structure that suits the company and its owner. For example, if someone wanted to set up a forex trading company, we suggested a company in Saint Vincent and the Grenadines, because an SVG offshore company could do this without any restrictions. So far.


What can we do if our SVG company is involved in forex trading?

The FSA has banned with immediate effect limited liability companies which Forex trading and is a broker or intermediary and does not have an existing licence. Firms that carry out this activity must obtain the necessary licences from the jurisdiction in which they operate.

Basically, activities where 3rd party money is involved in the transaction are covered by this rule. So, if someone puts their own savings at risk on behalf of such a company, they are not subject to a licence. However, if you are providing a related service to others, whether it is MAM-PAM accounts, signal signals, tips, copying trades or simply trading with other people's money, you need to obtain a licence.

An official copy of the permit must be submitted to the authority by 10 March 2023.

What is required to obtain a licence if you are trading forex?

We can explore the choice of the right licence at the first consultation. Generally speaking, you will need a deposited capital of around 100.000 usd/eur, a professional qualification and experience in the industry. These will be part of any licence.

Our office will give you all the help you need to obtain a licence. Unfortunately, each case is different, so we can only undertake such work on an hourly rate contract, depending on our available capacity.