Forex Company

The huge volume of trading in foreign exchange presents a lucrative business opportunity for the brokerage companies in Georgia. At a conservative estimate, the daily trading on forex is about $500 billion in the US treasury bond market and about $250 billion in the US stock markets. In addition to forex, trading in crypto currencies has been growing at a rapid pace as well – $366 billion and counting.

Georgia, given its favourable business prospects and stable economic indicators, presents a wonderful investment opportunity for brokerage companies. The country has a robust forex market that is well connected to the world forex markets where trading worth billions are carried out on a daily basis. As a brokerage business, this is good news. However, to trade in forex and crypto currencies, you need a brokerage license to be awarded by the National Bank of Georgia.

 

Activities an authorised brokerage license holder can carry out in Forex

  • Organize a foreign currency trading platform.
  • Direct consultations with investors regarding investments, including the price of securities, investment in securities, purchase and sale of securities in foreign currency transactions.
  • Carry out the currency purchase.
  • Carry out research on financial instruments and their issuers. Provide recommendations on the results of this survey and / or investment strategy.
  • Consult the issuers with the issuance of securities and attract investments.
  • Prepare and carry out issuer securities on a non-guaranteed basis.
  • Accept and transfer customer orders in respect of securities, with the securities’ funds to deal with securities for their interests.
  • Manage the clients, including pension schemes, investment portfolios and funds allocated for securities transactions.

Requirements to Get a Brokerage License

  • Passport of the directors and shareholders, name of the company, residential addresses of the directors and shareholders, and email of the company.
  • The total cost of 12000 euros where 100% is to be paid upfront. The cost will cover areas like company set up, registration address, government fees, bank account opening, translation of documents, license fees, application to the national bank, notary fees, and application for the special status.
  • The paid up capital requirement of 500K Gel.
  • Produce CV and a certificate of no criminal record
  • Certificates of Educational Qualification and Experience.
  • No taxes apply if you reinvest the money.
  • If you get special status, you are exempted from paying corporate tax on incomes originating out of Georgia.
  • Submit the auditing accounting report quarterly to the National Bank and the monthly accounting report to the tax service.
  • The paid up capital should be paid before submitting the application.