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Panama Brokerage House License

Enigmatig provides a turnkey solution for financial licensing. To facilitate your process of applying for a Panama Brokerage House license, we will:

  • Promote your application to the Panama regulators
  • Assist with answering questions regarding the application process and requirements
  • Draft and review application documents and questionnaires
  • Follow up with the application and ensure the submission of additional information required by the related departments in Panama

Permissions

  • Asset Management
  • Account Management
  • Currency Trading/FX
  • Payment processing
  • Factoring
  • Leasing
  • Forex Brokerage
  • Precious metals trading
  • Other associated activities

Capital Requirement

Applicants must have a paid-up capital of at least USD 150,000. Be exclusively dedicated to activities related to the broker-dealer house business.

Physical Presence

Local operational office and registered agent is required.

Requirements & Other Information
  • A Board of Directors or its equivalent should be composed by at least three individuals (no corporate directors are permitted), with “proven business and professional integrity”.
  • At least one director must have minimum 2 years of experience in financial sector or stocks National or International Physical Persons Only – not Legal Entities.
  • Have the number of principal executives that the broker-dealer house business volume requires, who must have the corresponding licenses issued by the Superintendant. Every broker-dealer house must at least appoint one person as principal executive.
  • Articles of Incorporation must have a corporate purpose adequate to the activities related to the broker-dealer house business.
Business Plan

Enigmatig shall seek to understand your business activities and goals to assist with your business plan drafting that best encompasses this whilst still being compliant to the prevailing regulations. Enigmatig shall also advise on the possible questions that might be posed by the regulator.

Due Diligence

Due Diligence is necessary to formally verify the identity of all clients of the firm. The following documents are required to conduct due diligence for the license application:

  • A copy of the photo page of the passport ceritifed by a notary public for each director and shareholder;
  • A copy of proof of address (issued within the last 3 months) by a notary public for each director and shareholder;
  • Curriculum Vitae (CV);
  • Business Plan;
  • Financial Forecast;
  • Organisation Chart;
  • For company directorship or shareholdership, a certified copy of the constitution documents of the company and above details on each director and shareholder of the company;
  • Other supporting document when necessary.
Please note for a company listed on a major stock exchange or subject to regulatory supervision in a country with equivalent AML regulations to Panama, evidence of such listing or regulation will suffice in place of the above information. Where the directors to be appointed are employees of such a listed or regulated company, a certified passport copy and confirmation of employment (to include position) will suffice.
Documents
  • Company Business Plan
  • Updated CV of all directors, secretary and shareholders
  • Certificate of Incorporation
  • Articles of Memorandum and Association
  • Resolution of Directors and Officers
  • Copy of Share Certificates
Regulator

The Superintendence of the Stock Market of Panama (SMV) is created, as an autonomous entity of the State, with legal status, own assets and administrative, budgetary and financial independence, with exclusive competence to regulate and supervise issuers, investment companies, intermediaries and other participants in the securities market.

Enigmatig assists with the complete licensing application. Contact us to find out more about the Panama company registration and forex license application. Our team of experts will get back to within the next business day.