Bahamas Forex License
Obtaining a Bahamas Forex License – How Does It Work?
- In order to establish a forex license in the Bahamas, the broker must first incorporate a new business entity. This involves the normal due diligence process for any new company registration: identity documents, intended structure, and shareholder/director designation, to name a few.
- Upon successful registration of your new company, we’ll then submit your license application to the SCB (Securities Commission of the Bahamas).
- While your license application is under review, our team will keep you posted regarding updates and any additional requests or clarifications required by the Bahamas SCB.
- Once the license has been approved by the SCB, we’ll then establish the required bank accounts needed for operations, capital, and deposit purposes.
- A physical presence as well as local directors are prerequisite for obtaining a forex broker license in the Bahamas. As part of our consultation services, we’ll secure the required office space and assist your broker with the appointment of local directors.
Important Facts Related to an Offshore Bahamas FX License
- $120,000 in capital is required to operate a pure agency (A-book) business model
- The Bahamas SCB mandates that all licensed brokers maintain a physical office in the Bahamas
- A local executive director and compliance officer are strict requirements
- It’s also possible to operate under a non-agency business model, however, capital requirements are higher
- A forex license in the Bahamas also offers brokers the ability to offer stocks, futures, options as well as other securities
- Total time to obtain the license varies from 4 to 6 months
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Atomiq Consulting – Your Forex Broker Licensing Partner
Atomiq Consulting offers a complete solution for FX brokers to interested in obtaining a forex broker license in the Bahamas. Our team of experts will assist your brokerage with every step of the process: initial company incorporation, license application, banking, and the appointment of directors to name just a few examples. Given our years of expertise in licensing and banking consultation we are the ideal partner to help your brokerage successfully apply for a forex broker license in the Bahamas.
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To learn more about establishing a forex broker license in the Bahamas, the costs associated with the license, or to address any other questions, don’t hesitate to contact our team of license specialists today!
Bahamas FX License FAQ
Are there any licensed Bahamas brokers currently for sale?
In addition to license consultation, we can also assist your broker with the acquisition of an existing offshore licensed broker. Because our offers vary based on availability in the market, it is best to contact us directly to discuss our current offers.
How long does it take to get a Bahamas forex license?
Each application is unique, making it difficult to estimate a specific time, however, as a general rule the license can be established within 12 to 16 weeks.
Under which guideline or law is forex trading regulated in the Bahamas?
FX Trading in Bahamas is regulated by the Securities Industry Act of 2011.
Does this license allow our broker to offer other securities?
Yes, stocks, options, futures, and other securities are covered under this license.
Which regulatory body oversees forex trading in the Bahamas?
The Securities Commission of the Bahamas (SCB) is responsible for regulating all financial activity in the Bahamas.
What jurisdictions are similar to the Bahamas?
Brokers considering offshore licensing options may also be interested in applying for a license in Seychelles. In addition, a license in the Cayman Islands should be another consideration.
Does this license make it possible to obtain access to a PSP for credit, debit, and other payment services?
Yes, as part of our consultation services we will also assist your broker in obtaining payment solutions as well as local banking.
Is a physical office required to obtain a license in the Bahamas?
Yes, a local office is required, which is similar to other offshore jurisdictions such as a Security Dealers License in the Seychelles, or a forex license in the British Virgin Islands (BVI).