SVG is Tightening the Screws. More Solutions From UTIP
by
FM
This shift has seriously worried the market and sparked heated debates on how to respond.
The jurisdiction of St. Vincent and the Grenadines (SVG) has been attractive to owners of high-risk projects over the years as it offered the most reasonable price-performance ratio and the lowest level of bureaucracy and paperwork. But the latest news raised concerns about regulatory changes in the Forex industry.
Background
At the beginning of 2023, the FCA required Forex companies to provide certified copies of the licenses issued by the countries of their operation. Moreover, the deadline for granting licenses turned out to be tight, with only 2 months after the requirement was published.
This shift has seriously worried the market and sparked heated debates on how to respond to the regulator's claims.
UTIP solutions
UTIP Technologies experts have already dealt with similar issues, so there are certain options for resolving difficulties in favor of our clients. Let's take a closer look.
The first option is to comply with the regulator's requirements and provide copies of the license or legal opinion.
A legal opinion is a document issued by a law firm stating that a company does not require a license to conduct certain activities in the specified jurisdiction. It is accompanied by references to national legislation and market regulators' acts, along with legal counsel's comments.
The second option is to relocate the OTC business to a jurisdiction with more lenient requirements. Our clients often choose the Marshall Islands, located in the Pacific Ocean.
The jurisdiction of the Marshall Islands has several advantages over one of St.Vincent and the Grenadines. Registering a company in the Marshall Islands is much faster, as it requires fewer documents from the owner.
Moreover, the jurisdiction's regulator, GLOFSA, does not require licensing of Forex companies, and it doesnβt perform audits of their activities. There are also some conventional benefits of unregulated jurisdictions, including zero taxation and privacy.
It costs 20-25% more to register a company in the Marshall Islands than in St. Vincent and the Grenadines. However, the speed of filing and the lack of licensing requirements are quite enough to cover the costs.
UTIP provides support in registering a company under unregulated jurisdiction
Based on our interaction with existing and potential clients, the option with an offshore jurisdiction seems to be the most preferable and desirable in terms of price-to-time ratio.
That's why it is recommended for trading operations. In this regard, if it is important for you to register under unregulated jurisdiction, UTIP Technologies experts are ready to provide assistance, as well as to offer a wide range of other services.
The jurisdiction of St. Vincent and the Grenadines (SVG) has been attractive to owners of high-risk projects over the years as it offered the most reasonable price-performance ratio and the lowest level of bureaucracy and paperwork. But the latest news raised concerns about regulatory changes in the Forex industry.
Background
At the beginning of 2023, the FCA required Forex companies to provide certified copies of the licenses issued by the countries of their operation. Moreover, the deadline for granting licenses turned out to be tight, with only 2 months after the requirement was published.
This shift has seriously worried the market and sparked heated debates on how to respond to the regulator's claims.
UTIP solutions
UTIP Technologies experts have already dealt with similar issues, so there are certain options for resolving difficulties in favor of our clients. Let's take a closer look.
The first option is to comply with the regulator's requirements and provide copies of the license or legal opinion.
A legal opinion is a document issued by a law firm stating that a company does not require a license to conduct certain activities in the specified jurisdiction. It is accompanied by references to national legislation and market regulators' acts, along with legal counsel's comments.
The second option is to relocate the OTC business to a jurisdiction with more lenient requirements. Our clients often choose the Marshall Islands, located in the Pacific Ocean.
The jurisdiction of the Marshall Islands has several advantages over one of St.Vincent and the Grenadines. Registering a company in the Marshall Islands is much faster, as it requires fewer documents from the owner.
Moreover, the jurisdiction's regulator, GLOFSA, does not require licensing of Forex companies, and it doesnβt perform audits of their activities. There are also some conventional benefits of unregulated jurisdictions, including zero taxation and privacy.
It costs 20-25% more to register a company in the Marshall Islands than in St. Vincent and the Grenadines. However, the speed of filing and the lack of licensing requirements are quite enough to cover the costs.
UTIP provides support in registering a company under unregulated jurisdiction
Based on our interaction with existing and potential clients, the option with an offshore jurisdiction seems to be the most preferable and desirable in terms of price-to-time ratio.
That's why it is recommended for trading operations. In this regard, if it is important for you to register under unregulated jurisdiction, UTIP Technologies experts are ready to provide assistance, as well as to offer a wide range of other services.
FXIFY Celebrates 1 Year Anniversary: Establishing Itself as an Industry Leader
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
π LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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