St. Vincent and the Grenadines (SVG) – Forex Broker Incorporation
Setting Up A St. Vincent IBC – How Does It Work?
- The first step in the process is to let us know the business entity name so we can determine its availability.
- Next, we’ll require some basic KYC documentation related to the company shareholder(s).
- We’ll then ask for your thoughts on the company structure and if you have any specific requirements for the new entity.
- Upon gathering all required documents, we’ll submit them to the registry and keep you posted regarding the status.
Important Facts Related to Establishing a St. Vincent IBC
- IMPORTANT UPDATE – In January, 2023 the St. Vincent FSA enacted changes impacting both new and existing registrations
- A physical office and local staff are not required when incorporating your forex brokerage in St. Vincent
- A St. Vincent IBC is not a forex license, rather the registration of a International Business Company (IBC)
- It will take roughly 2 – 3 weeks for your new brokerage to be incorporated
- Banking & payment services are quite challenging to obtain, however, we have several solutions available for newly incorporated SVG entities
- The naming convention for newly registered companies has changed
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Important Update Impacting All Existing and Future Company Registrations in St. Vincent & The Grenadines
Previously, SVG authorities only required a basic registration process for newly formed LLCs and IBCS, with no specific regulatory oversight for forex trading activities. However, in early 2023, the Financial Services Authority (FSA) introduced a set of regulatory guidelines for forex brokers operating in SVG.
Under the new guidelines, forex brokers in SVG are required to prove they are licensed in all regions in which they intend to operate, a stark contrast from the previous measures. As such, many brokers are now moving out of St. Vincent and re-domiciling their companies in other offshore jurisdictions.
Atomiq Consulting – Your Partner For Corporate Services & Banking
If you are interested in registering a new forex broker in St. Vincent & the Grenadines, we are more than happy to assist you. Once we learn some basic details about your business plans, we are happy to provide you a price quote and answer any questions you may have. With decades of experience in the forex industry and a strong foundation in corporate services, Atomiq Consulting is the best choice for establishing your new business entity in St. Vincent & the Grenadines.
How Much Does an SVG Incorporation Cost? Contact Us Today for a Price Quote!
Our team of FX industry experts remain at your disposal. To learn more about setting up a corporate entity in St. Vincent, obtain a price quote, or ask a few questions, don’t hesitate to contact us today!
St. Vincent & The Grenadines IBC FAQ
Is it possible to acquire or purchase a forex broker registered in St. Vincent?
In addition to license consultation, we can also assist you in acquiring an existing offshore licensed broker or SVG registered entity. Because our offers vary based on availability in the market, it is best to contact us directly to discuss our current offers.
There are rumours that IBC companies no longer exist. Is there any truth to this?
Yes. In 2020, the St. Vincent authorities did away with the IBC, offering a BC instead. A St. Vincent BC is not the best fit for new forex brokers because revenues are taxed at 30%. An LLC is a much better fit and has all the advantages that the former IBC once offered.
Is a physical office required in order to register a new FX brokerage in St. Vincent?
No, when setting up a new business entity in St. Vincent, a physical office isn’t required.
Can one appoint a nominee director in St. Vincent & The Grenadines?
Yes, we are also able to assist you in selecting a nominee director for your newly incorporated IBC. For specific details and pricing, please contact us.
Is foreign exchange trading (forex) regulated in St. Vincent?
Currently online foreign exchange trading is not regulated in St. Vincent. When setting up an IBC in St. Vincent, you are only establishing a new business entity. If you are interested in obtaining a forex broker license, don’t hesitate to contact us in order to explore this opportunity further.
What jurisdictions are similar to the St. Vincent & the Grenadines?
If you are interested in simply registering a non licensed forex brokerage, you may also want to consider Marshall Islands.
Is Atomiq Consulting able to assist with banking?
Yes. It’s important to note that banking is becoming more challenging for unregulated jurisdictions like St. Vincent. Although we have some banking solutions available, be prepared to accept some limitations.
What is the difference between a St. Vincent / SVG LLC and IBC?
In 2020, the St. Vincent authorities retired the International Business Company (IBC) and introduced a new type of company formation: Limited Liability Company or LLC. Because it is no longer possible to register an IBC, the LLC has effectively replaced it.
How many local directors are needed in St. Vincent?
Currently no local directors are required to register a new forex broker in St. Vincent & The Grenadines.