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Overview
* JY Global does not act as broker, market maker, principal, counterparty or product issuer.
The licensing process may involve company incorporation, document preparation and regulator review. JY Global’s role is limited to project coordination and preliminary compliance input.
Timeframe: 10 business days
Minimum paid up capital: no capital requirements
Overview
In order to apply for a license the applicant must first establish an International Business Company (IBC) in Comoros. This process takes approximately 48 hours from receipt of the relevant documentation. The IBC should have a minimum of one director who can be of any nationality and resident anywhere.
Comprehensive Guide to Company Incorporation
Company structure
- ▪ Minimum of one shareholders, who can be natural persons or legal entities.
- ▪ At least one director (foreign residents are allowed)
Confidentiality
- ▪ Beneficial owners’ details – not disclosed to the Authorities
- ▪ Shareholders’ details – not part of public record
- ▪ Directors’ details – not part of public record
Taxation
Comoros is a 0% taxation jurisdiction
Accounting requirements
- ▪ No requirement of filing annual report
Secretary – Required
Registered office – not required
In order to obtain a license, the following steps will be carried out:
- ▪ Collection and review of documents in accordance with the legislation requirements
- ▪ Incorporation of the company
- ▪ License application with the Regulator
- ▪ Copy and ID
- ▪ Proof of address
- ▪ Bank or Lawyer Reference Letter
- ▪ Updated CV
- ▪ Proof of Funds (To be signed in the application form)
If Holding Company (i.e. where shareholder is a company)
- ▪ Certificate of Incorporation
- ▪ Memorandum and articles of association
- ▪ Details of Registered Office and Principal place of Business and directors, shareholders.
- ▪ Recent set of accounts and Resolution approving Investment/shareholding as appropriate.
- ▪ Any corporate brochures