The Pacific Republic of Vanuatu is attracting more and more investors with tax loyalty, a possibility to run a non-resident digital business, going to an international level. The licensing legislation was changed not so long ago and the authorities began to be interested in the blockchain, non-fiat currencies and electronic money.
As a classic offshore, the Republic is considered as a jurisdiction for the establishment of a business that finances and participates in cryptocurrency exchangers and exchanges. Crypto instruments are considered as a promising direction in the state, and the authorities have announced their intention to take a leadership position in the blockchain technologies use. Directly, the license for the exchange of cryptocurrencies in the country is not issued, but the business can be run using other financial permits.
Licenses for cryptocurrencies, as well as others, are included in the area of responsibility of the Financial Commission of the Republic. This is the main financial registrar recognized worldwide. The Commission issues licenses covering a wide range of financial instruments - one permit is enough for work. To get it, you will need to register a company with a shared capital of about 1,850 US dollars in Vanuatu. After depositing into the account, it is not frozen, and the money is allowed to be used for the licenses documentation. To be registered, you need to legalize the documentation, pay the state duty and make a seal.
As in other jurisdictions issuing licenses for the cryptocurrencies exchange, in the island republic it is necessary to prove that the exchanger meets the requirements of the AML / KYC standards. For this, the licensee shall submit to the state registrar the following:
For work, you will need to pay fees, connect AML, payment systems for the settlements and acceptance of bank cards, etc. The firm needs a local bank account, which is opened upon the corporate documents presentation.
"Prifinance" will help to simplify and speed up the procedures. Our company registers a business, issues licenses for cryptocurrencies in suitable jurisdictions, opens bank accounts and provides clients with legal, consulting and organizational support in all matters.