Panama has licenses available but they are tough, requires tests, background investigation, cash bonds, having an office physically in Panama,etc. Most clients will not do this and even if you do then there is no guarantee that the banks will open an account for you and if they do and a disgruntled client has his lawyer write thre bank a nasty letter of complaint then they may close the account thinking lawsuits are on the way. this is a hard thing to get set up, very hard.
They can assist with Company, Brokerage License in Belize and Mauritius and Banking in the same Country. As well as banking for Forex companies to accept third party funds. www.panamabrokerage.info/services.htm
For mutual funds BVI is good place, but perosn here is asking about brokerage license which do not exist on BVI, but this do not mean that BVI companies cna not do this if they are structured properly
It's only after they shell out the 25K-?K for 'brokerage'/'capital management' licenses and companies in ridiculous locations that they find out they have to be certified as well as regulated in the countries they are seeking to solicit funds from and are not allowed to publicly solicit clients until they are... not to mention net capital requirements, sipc account insurance, public liability and professional indemnity insurance, 3rd party account and audit teams...
Can anyone say 'sunk cost' on the 'brokerage' license if they don't follow through on the rest :-D
Crazy...
Why would anyone choose a broker in an off-shore, unregulated, uninsured, country for their money?
Unless this is just a 'tax efficient' vehicle of course... (however, I doubt they are turning over enough volume in the market to warrant being a 'broker/dealer' for tax purposes)
Re: Offshore Brokerage License/ Bank Account
Hybrid Mode
