Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the honest answer, including banking and payment rails.
The forex licence question in the Comoros.
The internet's cheapest 'forex licences' carry this archipelago's name, so here is the full map: the Central Bank of the Comoros states that only institutions it authorises may conduct financial or banking activity under a Comorian licence, and warns against entities claiming Comorian status without it. What is sold online comes from island registries, not the BCC. Read this before you pay anyone.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
The Comoros in brief
Two realities under one flag.
The Union of the Comoros has one monetary authority: the Banque Centrale des Comores. Its public position is unambiguous - only financial institutions duly authorised by the BCC are entitled to conduct financial or banking activities under a Comorian licence, and it warns the public against entities that claim, without authorisation, the status of a financial institution linked to the Union. That is the first reality. The second is the one the internet sells: 'Comoros forex licences' issued in days for a few thousand dollars - products of autonomous-island registries on Anjouan and Mohéli, marketed worldwide as if they were state financial licences.
The distinction is the entire subject. An island-registry certificate is a real document from a real registry, but it is not an authorisation from the Union's central bank, and the market prices it accordingly: correspondent banking is effectively out of reach, serious PSPs decline, and regulators elsewhere treat the paper as what it is. Our role is not to sell you the cheapest flag on the shelf; it is to tell you what each flag buys. For the budget and speed that draw people to the Comoros, Vanuatu offers an actual licence from an actual regulator in about three weeks, and if the Comoros still fits a narrow use-case, we will say exactly which one and why, in writing.
The full map: the Central Bank of the Comoros says only BCC-authorised institutions may operate under a Comorian licence - the 'forex licences' sold online are island-registry certificates from Anjouan and Mohéli, with minimal banking acceptance.
Same budget, real licence: Vanuatu in ~3 weeks; Seychelles/Mauritius a tier up. We review any offer in writing first.
The two conversations
What is sold - and what we build.
One page, two products, as they are: the island-registry certificate as it really is, and the credible build most buyers actually need. We put both in writing before you spend.
The registry product as it is, and the credible build instead.
01 - THE REGISTRY PRODUCT, AS IT IS
What the certificate is
Island-registry 'brokerage licences' from Anjouan or Mohéli: issued in days, cheap, renewable, and not authorisations of the BCC. We review any offer you have received and document what it does and does not deliver.
Island-registry 'brokerage licences' from Anjouan or Mohéli: issued in days, cheap, renewable, and not authorisations of the BCC. We review any offer you have received and document what it does and does not deliver.
- ✓Issued by island registries, in days
- ✓Low headline cost, annual renewal
- ✓Not a BCC authorisation
- ✓Minimal banking and PSP acceptance
- ✓No ring-fenced-market access
- ✓Written review before you pay anyone
02 - THE CREDIBLE ALTERNATIVE
Same budget classWhat we build instead
For the speed and budget that draw buyers here: a real licence from a real regulator. Vanuatu's FDL in about three weeks, Seychelles or Mauritius a tier above. With an entity layer and banking that actually work.
Vanuatu FDL ~3 weeks, Seychelles SDL, Mauritius dealer. Real supervision, working banking, one programme.
- ✓Vanuatu FDL - ~3 weeks, real supervision
- ✓Seychelles SDL - the proven workhorse
- ✓Mauritius - treaty-grade standing
- ✓Entity layer structured properly
- ✓Banking and PSP rails that open
- ✓One programme, both ends
Costs and timelines are confirmed for your case before any work begins. Including a written comparison of the registry product against the credible alternatives.
Why this page exists
What buyers deserve to know first.
Six facts that reframe the cheapest offer in the market.
✓
The BCC's public line
Only institutions authorised by the Central Bank may conduct financial activity under a Comorian licence. Its communiqués warn against unauthorised claimants of Comorian status.Only its authorisations count.
✓
Registry ≠ regulator
The island registries issue certificates; they do not run prudential supervision, capital rules or conduct oversight. The things a licence is supposed to mean.Certificates, not supervision.
✓
Banking is the test
Ask any seller one question: which banks open accounts against this paper? The answer defines the product better than any brochure.Ask for bank names.
✓
The price signals the value
A few thousand dollars buys a certificate because that is what a certificate costs. Real licences price real supervision.The discount is the product.
✓
Alternatives exist at the same speed
Vanuatu processes an actual licence in about three weeks from a final file. The real comparison is closer than most buyers think.Vanuatu, ~3 weeks.
✓
Narrow use-cases exist
There are structures where an island certificate plays a limited, legitimate role. We will name yours if it exists, and say so outright if it does not.Named in writing, or not.
How it compares
The registry product against real licences.
The real comparison. The one the sellers do not publish.
Comoros registry vs licensed routes
| Feature |  Island registry | Licensed routes |
|---|---|---|
| Issuer | Island registry | State regulator |
| BCC standing | Not a BCC authorisation | N/A - other states' licences |
| Banking | Minimal acceptance | Established rails |
| Speed | Days | Weeks (Vanuatu) to months |
Issuer
Island registryIsland registry
Licensed routesState regulator
BCC standing
Island registryNot a BCC authorisation
Licensed routesN/A - other states' licences
Banking
Island registryMinimal acceptance
Licensed routesEstablished rails
Speed
Island registryDays
Licensed routesWeeks (Vanuatu) to months
Route by route
| Route | Status | Speed | What it buys |
|---|---|---|---|
| Comoros registries | Certificate - see BCC position | Days | Paper, little banking |
 Vanuatu | VFSC licence - real supervision | ~3 weeks + prep | A working licence |
 Seychelles | FSA SDL - the workhorse | 3-6 months | Proven market standing |
 Mauritius | FSC dealer - treaty-grade | 4-8 months | Banking above its tier |
Comoros registriesStatusCertificate - see BCC position
SpeedDays
What it buysPaper, little banking
VanuatuStatusVFSC licence - real supervision
Speed~3 weeks + prep
What it buysA working licence
SeychellesStatusFSA SDL - the workhorse
Speed3-6 months
What it buysProven market standing
MauritiusStatusFSC dealer - treaty-grade
Speed4-8 months
What it buysBanking above its tier
Before you decide
The questions to settle before paying anyone.The buyer's protocol.
Not a licensing checklist. A buyer's protocol. Ten questions that separate products from paper.
01
Who issues the document. A state regulator with a statute, or a registry with a website?
02
What does the Union's central bank say about it? The BCC's communiqués are public; read them first.
03
Which banks will open operating and client accounts against the paper? Names, not assurances.
04
Which PSPs will onboard? The acquiring answer usually decides the business case alone.
05
What supervision exists. Capital rules, reporting, inspections, and who actually performs it?
06
What happens at renewal. A re-test, or an invoice?
07
Where are your clients, and what do their regulators require? No certificate overrides that.
08
What is the exit cost if the flag fails. Re-licensing, re-papering clients, rebuilding rails?
09
What does the same budget buy elsewhere. A Vanuatu FDL, a Seychelles file started?
10
Is there a narrow, legitimate use-case for the certificate in your structure, and can it be written down?
01
Who issues. Regulator or registry?
02
What does the BCC say?
03
Which banks accept it?
04
Which PSPs onboard?
05
What supervision exists?
06
Renewal. Re-test or invoice?
07
Clients' regulators require what?
08
Exit cost if the flag fails?
09
Same budget elsewhere buys?
10
A written, narrow use-case?
We answer all ten in a written opinion before you commit to anything. Including to us.All ten answered in writing before you commit.
How it works
From first call to a defensible answer.
01
The offer on the table
Whatever you have been quoted. Registry certificate, 'licence', package. Goes under the microscope first.Under the microscope.
02
The written opinion
Issuer, BCC standing, banking reality, client-jurisdiction exposure. Documented in plain language.Facts, in plain language.
03
The decision
Registry product for a narrow named use-case, or the credible alternative. Chosen with the facts on the table.Made on the table.
04
The build
Whichever route: entity, licence application, banking and rails sequenced as one programme.One programme.
05
Launch on solid ground
A structure whose paper, banking and story agree. The only kind that lasts.Paper and banking agree.
Quick facts
Union authorityBCC - Moroni
BCC positionOnly BCC-authorised institutions
Island registriesAnjouan · Mohéli
Registry productCertificate in days
BankingMinimal acceptance
Real alternativeVanuatu ~3 weeks
Upgrade pathSeychelles · Mauritius
Our deliverableWritten opinion first
The cheapest paper in the market is only cheap until the first bank says no. The full map costs nothing and saves the quarter.
On the ground in the Comoros
Run from our Moroni office.
Prifinance - Comoros
Moroni · Comoros
Moroni, Union of the Comoros
01
The no-nonsense review
Any offer you have received. Analysed against the BCC's position, banking reality and your client map, in writing.Any offer, dissected.
02
Union-side clarity
What Comorian law and the BCC actually authorise, documented, so your decisions rest on the state's position, not a reseller's.The state's actual position.
03
The credible build
Vanuatu, Seychelles, Mauritius or Labuan structured as the working alternative. Both ends, one programme.Real flags, one programme.
04
Migration off weak paper
Already holding a registry certificate? We plan the move to a real licence without losing the book.Off weak paper, book intact.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
The fiscal side, in numbers.
Whatever the paper, the money still has to live somewhere, and that is a group-design question.
Registry fees, not licence economics
Island certificates carry issuance and renewal fees. The fiscal footprint of the paper itself is trivial; the consequences sit in banking.The paper is trivial.
Union taxation applies locally
Actual operations in the Comoros fall under Union tax law. A separate question from the registry certificate entirely.Separate question.
The real planning happens group-wide
Where profits are booked, taxed and distributed is decided by the working entities. The licensed core and its holding, not the certificate.The working entities decide.
Owner-level rules decide
CFC, management-and-control and residency rules in the founders' countries set the outcome. Planned before the first invoice.CFC decides outcomes.
Banking drives everything
A structure no bank will serve has no tax questions worth asking. Rails first, optimisation second.Rails, then optimisation.
Alternatives with real answers
Vanuatu (no corporate income tax), Seychelles (source-based), Mauritius (3% effective). Jurisdictions where the fiscal story is documented, not improvised.VU · SC · MU documented.
Fiscal summary
Certificate costsIssuance + renewal fees
Local operationsUnion tax law
Planning levelGroup + owner
Deciding factorBanking reality
Documented alternativesVU · SC · MU · Labuan
*As of 2026. Every outcome is modelled per structure, case by case.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: structure, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a working, defensible setup.
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Comoros · the full map
Get the real answer before you pay for paper.
A written review of any Comoros offer on your table - issuer, BCC standing, banking reality, and the credible alternative designed beside it. From our Moroni office.
Get a consultation →Free legal opinion
Is the Comoros route real for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Comoros forex licence - the questions we hear.
Is there a real forex licence in the Comoros?+
The Union's licensing authority for financial activity is the Central Bank of the Comoros, which states publicly that only institutions it authorises may operate under a Comorian licence. The 'forex licences' marketed online are island-registry products from Anjouan and Mohéli, not BCC authorisations.
What exactly do the island registries sell?+
Certificates - typically styled 'International Brokerage and Clearing House' licences - issued in days for a low fee with annual renewal. Real documents from real registries; not state financial supervision, and priced by the market accordingly.
What does the Central Bank actually say?+
Its communiqués warn that only BCC-authorised financial institutions may conduct financial or banking activity under a Comorian licence, and caution the public against entities claiming Comorian financial status without authorisation.
Will banks and PSPs accept a Comoros registry certificate?+
Acceptance is minimal - correspondent banking is effectively out of reach and serious PSPs decline. That single fact, not the certificate's price, defines the business case. Ask any seller for bank names in writing.
Why is it so cheap?+
Because a certificate costs what a certificate costs. Real licences price real supervision - capital rules, reporting, inspections. The discount is the product.
Is it illegal to hold one?+
Holding a registry certificate is not itself an offence - the risk is what it cannot do: it does not authorise regulated activity in your clients' jurisdictions, and marketing it as state licensing invites regulatory attention where your clients live.
What should a speed-and-budget buyer do instead?+
Vanuatu: a real licence from a real regulator, roughly three weeks' processing from a final file, no corporate income tax. One tier up: Seychelles or Mauritius. The real comparison is far closer in price than the brochures admit.
Is there any legitimate use for the registry certificate?+
Narrow ones exist at the margins, and they are narrow. Where one applies to your structure, we will name it and put its limits in writing; where it does not, we will say so before you spend.
I already bought one. What now?+
We review what you hold, map the gap between it and your actual obligations, and plan the migration to a credible flag without losing your client book - the sooner, the cheaper.
Why Prifinance for the Comoros question?+
Because we profit from working structures, not from paper: 400+ real licences obtained, the no-nonsense review in writing first, and the credible build delivered when you choose it.
Real licence?+
BCC authorises; registries sell certificates.
What's sold?+
Island certificates, in days.
BCC says?+
Only its authorisations count.
Banks accept?+
Minimally - ask for names.
Why cheap?+
Certificates cost certificate money.
Illegal to hold?+
No, but it authorises nothing.
Instead?+
Vanuatu ~3 weeks, real.
Legitimate use?+
Narrow - named in writing.
Already bought?+
We migrate you properly.
Why you?+
We sell structures, not paper.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
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Google
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Google
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Google
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Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: what the Comoros offer on your table actually is.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Banque Centrale des Comores (BCC) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.