Desfran provides a turnkey solution for financial licensing. To facilitate your process of applying for a Vanuatu Securities Dealer license, we will:
· Promote your application to the Vanuatu regulators
· Assist with answering questions regarding the
application process and requirements
· Draft and review application documents and
· Follow up with the application and ensure the
submission of additional information required by the related departments in Vanuatu
The Vanuatu Forex Securities Dealers Licenses enables you to carry out the following services:
Deposit of VT 5,000,000 (approximately USD 47,000) with the Registrar of the Supreme Court at Port Villa.
The company must operate from a physical premise located in Vanuatu, which maintains the following systems:
Desfran shall seek to understand your business activities and goals to assist with your business plan drafting that best encompasses this whilst still being compliant with the prevailing regulations. Desfran shall also advise on the possible questions that might be posed by the regulator.
Insurance / Professional indemnity cover
A license must have adequate insurance cover, including professional indemnity insurance indemnity for partners and employees, former partners and employees, and consultants, to serve as a protection for the investor’s funds in the event of financial loss. Professional Indemnity Cover is a general professional insurance linked to the activity of the company and covering the company. Professional Indemnity cover is a separate document that must be produced. The minimum insurance cover for each licensee is VT 5.000.000 for each claim with an aggregate cover of not less than VT 50.000.000 and a maximum deductible amount of VT 500.000.
Due Diligence is necessary to formally verify the identity of all clients of the firm. The following documents are required to conduct due diligence for the license application:
Please note for a company listed on a major stock exchange or subject to regulatory supervision in a country with equivalent AML regulations to Vanuatu, evidence of such listing or regulation will suffice in place of the above information. Where the directors to be appointed are employees of such a listed or regulated company, a certified passport copy and confirmation of employment (to include position) will suffice.
The Vanuatu Financial Services Commission (VFSC) was formally established in December 1993, after the Vanuatu Parliament enacted the Vanuatu Financial Services Commission Act No. 35 of 1993. Previous to this, we were the Registrar of Companies and the Official Receivership Department of the Treasury since 1971 under the then, British Administration and after independence in July 1980, the Ministry of Finance and Economic Management.
Desfran assists with the complete licensing application. Contact us to find out more about Vanuatu company registration and forex license application. Our team of experts will get back to within the next business day.