Forex License in Estonia
It is essential to obtain a forex license when performing a business activity in Estonia. Licenses are issued by the Estonian Financial Supervision Authority (EFSA).
The company’s activities may include the following:
Establishing a joint-stock company
Opening a representative office
Opening a branch
JOINT-STOCK COMPANY
The following must be undertaken to establish a joint-stock company:
- Appointing an auditor
- Document preparation
- Opening a bank account
- Registration at a notary
- Capital — 25,000 EUR
- Registration in the Securities Centre
Requirements
After completing the steps, the following documents should be submitted to EFSA:
- Charter / notarial constituent documents
- Information about shareholders, stockholding
- Information about founders, members of board/council
- Information on the companies in which the petitioning company participates by more than 20%
- Information about auditors of internal control authorities
- Balance, profit and loss statement, the annual report (for active company)
- Business development plan for the next three years
- Document confirming an obligation to make payment to a pledge fund upon receipt of the license – single time, 1,300 EUR
- and other documents (the specialist will define)
To receive a license, it is necessary to have an authorized capital in the sufficient amount:
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- Operations with securities, including in the name of a customer/at the expense of a customer — 50,000 EUR
- Emission and securities portfolio management — 125,000 EUR
- Underwriting, storage, securities management, trading at own expense — 730,000 EUR
Time frame
It usually takes up to 4 months to obtain a forex license in Estonia.
REPRESENTATIVE OFFICE
The representative office of the company must provide the following to be approved by the authority and operate legally:
- a certificate proving the license availability in the country where the head office functions
- an activity plan of the representative office
- a power of attorney issued by the head company
- a certificate or an extract on the head structural unit registration
- articles of association
- address of the representative office
OPENING A BRANCH
The branch of the company must provide the following to obtain an operating license in Estonia:
- name and address of a branch
- information about the head of the structural unit
- business plan
- if the parent company does not operate inside of the EU, it is also required to receive: permission to establish the branch
- confirmation of legal operation of the company
- certificate that the parent structure has the license
- financial report on the head company’s activity
Regulated united Europe can help obtain a forex license for your business activity. Please request a consultation.
Legal Services for Your Forex Project | from 1,500 EUR |
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