Allied Fintech provides consulting and development services and strategic partnerships for a range of services in the finance and finance related industry, namely:
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Financial Services Licensing
Allied Fintech provides a comprehensive service for financial licensing, compliance, operation and management, policies and procedures, sales and marketing and business development.
No financial institution can conduct a business without first obtaining a financial license and registration from the country or state in which it intends to operate. However, applying for a financial license involves a rather lengthy process, not to mention the long list of requirements you need to comply with. But there is a far better solution that will save you from having to handle all the work by yourself.
Whatever type of license you need and whichever jurisdiction you prefer, we can help you obtain not only the financial license you need, but also the supporting business services you may need to operate and grow your business.
Our team’s knowledge and expertise in the financial services industry enables us to provide the best possible solution for all your needs. We are able to provide you with the required information to make the best decision of which license and jurisdiction is best suited to your businesses specific goals and objectives, which includes the criteria, requirements, costs, process, documentation, timeframe and ongoing obligations to obtain a financial license and operate in different jurisdictions.
Financial Licensing can be provided for the following financial services:
Forex Licensing
Vanuatu is an island republic in the South Pacific Ocean. Agriculture, tourism, offshore financial services, and international donor help, are the mainstays of its economy. The Vanuatu vatu (VUV) is the country’s currency.
In terms of financial stability, Vanuatu has seen consistent economic growth in recent years. However, it remains one of the Pacific region’s least developed countries. The country has a low GDP per capita and relies on foreign aid for development projects.
In terms of forex, the Vanuatu vatu is not widely traded on international currency exchange markets. It is mostly used for intra-Vanuatu commerce. The Reserve Bank of Vanuatu manages the country’s currency rate policy and oversees foreign exchange transactions.
Vanuatu is an island country located in the South Pacific Ocean. The archipelago is located around 1,750 kilometres east of Australia, 500 kilometres north of New Caledonia, west of Fiji, and south of the Solomon Islands. Vanuatu is about 2.5 hours by plane north of Brisbane and 3.5 hours by plane from Sydney, Australia.
According to Worldometer, the current population of Vanuatu is 327,429 as May 2, 2023.
Bislama is the primary language spoken by the majority of Vanuatuans.
It is a hybrid of English common law, French civil law, and indigenous customary law.
To perform their business legally, forex brokers and securities dealers must get a licence from the Vanuatu Financial Services Commission (VFSC). The licencing framework specifies the requirements, obligations, and standards that forex brokers must follow in order to receive and keep their licences.
- Regulatory Framework
- Capital Requirements Minimum
- Taxation that is beneficial
- Quick and Easy Licencing Procedure
- Cost-Effectiveness
- Flexibility in operations
License: Financial Dealers License
Timeframe for Approval: 4 to 6 months
Regulator: Vanuatu Financial Services Commission
Corporate Tax Rate: 0%
Currency: USD
Capital Requirement: $50,000
Paid-up Capital: No legal requirement
Local Director: Only one director (only natural person, no residency restrictions)
Local Shareholder: Only one shareholder (no residency restrictions)
Local Registered Office: Required
Local Staff: Required
Compliance Officer: Required
AML/KYC: Required
Audit: Required
- The formation of a Vanuatu corporation
- Preparation of all VFSC-related paperwork and submission of the documents
- Anti-money laundering procedures and a business plan for the company are being written
- Finalising the formalities with the VFSC for license receipt
- Opening an account for operational purposes
- Offshore Company Formation and Management
- Trust and Wealth Management
- Financial Services
- International Banking Licenses
- Citizenship-by-Investment Programs
- Legal and Accounting Services
- Intellectual Property (IP) Services
- Tourism and Hospitality Services
For bank:
- A notarized copy of valid passport
- A copy of proof of residential address (ex. utility bill that is not older than 3 months)
- Bank statement for the last 3 months
- A notarized copy of Letter of Reference from Bank, Attorney or Accountant
For local regulatory authority:
- CV of the director / shareholder dated and signed, showing at least 5 years of related experience in fund management securities and investment
- A notarized copy of valid passport (an English translation of the certification)
- A notarized copy of proof of residential address (ex. utility bill that is not older than 3 months) (an English translation of the certification)
- Independent references confirming CV and showing at least 5 years of related experience in fund management securities and investment (x2)
- Criminal record from the native country of the applicant and notarized translation of it into English (if needed)
- Notarized copies of university Diplomas in English, certified transcripts
- A second ID of the shareholder(s) / director(s)
- Professional letter / bank reference on director / shareholder (x2) Bank statement proving the source of funds
For AML Officer:
- CV of the director / shareholder dated and signed
- Notarized / certified copy of passport (an English translation of the certification)
- Notarized / certified utility bill in English
- Professional letter / bank reference on director / shareholder (x2)
- Notarized copy of a University Diploma in English
- Criminal record from the native country of the applicant and notarized translation of it into English (if needed)
- A second ID of the shareholder(s) / director(s)
1. Establish international business corporation.
2. Preparation and drafting of shareholder and officer agreements.
3. Preparation and drafting of narrative business plan.
4. Preparation and drafting of current financial statements.
5. Preparation and drafting of 3 years financial projections.
6. Preparation and drafting of personal financial statements for owners.
7. Preparation and submission of application with appropriate regulatory authority
8. Preparation and drafting of responses to regulatory authority
9. Identification and engagement of auditor and forex prime broker.
10. Facilitate opening of bank accounts and payment processors.
11. Preparation and drafting of AML/KYC policies and procedures.
12. Preparation and drafting of client agreements and disclosures.