Vanuatu Securities Dealer License

Permissions

The Vanuatu Forex Securities Dealers Licenses enables you to carry out the following services:

• Option to sell your share certificates
• Debentures
• Loan stocks
• Certificates issuing
• Deposit taking
• Bonds
• Loans
• A right, despite whether conferred by warrant, to subscribe for shares or debt securities
• The proceeds of Foreign Exchange or Forex
• The proceeds of precious metals
• The proceeds of commodities
• Trading on Managed Accounts with POA / LPOA

Capital Requirement

Deposit of VT 5,000,000 (approximately USD 47,000) with the Registrar of the Supreme Court at Port Villa.

The company must operate from a physical premise located in Vanuatu, which maintains the following systems:

• A filing systems;
• A management and accounting system;
• A business continuity system;
• A software system and server.

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 with the prevailing regulations. Enigmatig shall also advise on the possible questions that might be posed by the regulator.

Insurance / Professional indemnity cover

A license must have adequate insurance cover, including professional indemnity insurance indemnity for partners and employees, former partners and employees, and consultants, to serve as a protection for the investor’s funds in the event of financial loss. Professional Indemnity Cover is a general professional insurance linked to the activity of the company and covering the company. Professional Indemnity cover is a separate document that must be produced. The minimum insurance cover for each licensee is VT 5.000.000 for each claim with an aggregate cover of not less than VT 50.000.000 and a maximum deductible amount of VT 500.000.

Director Requirements

• Must be only natural person
• Shall normally reside for 6 months within each year in Vanuatu
• Must have at least 5 years’ experience dealing in securities and is competent to meet the obligation of a licensee as required by VFSC

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 certified 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 Vanuatu, 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.

The Vanuatu Financial Services Commission (VFSC) was formally established in December 1993, after the Vanuatu Parliament enacted the Vanuatu Financial Services Commission Act No. 35 of 1993. Previous to this, we were the Registrar of Companies and the Official Receivership Department of the Treasury since 1971 under the then, British Administration and after independence in July 1980, the Ministry of Finance and Economic Management.