Fiji

Fiji is an island country in Oceania, located to the Northeast of New Zealand.

overview

Fiji

It is an archipelago comprising over 330 islands, of which 110 are permanently inhabited with a population of about 900,000.

The Foreign Exchange Dealer License is granted by the Reserve Bank of Fiji (RBF), which requires a minimum capital of USD 24,500, which is very low compared to other jurisdictions.

Relatively shorter time frame to obtain a Forex Brokerage License, just approximately 3 to 4 months.

Investor-friendly, 100% foreign ownership and corporate shareholders are permitted.

Thanks to the abundance of minerals, forests, and fishery resources, as well as thriving tourism, Fiji has one of the most developed economies in the region.

As one of the world’s most rapidly growing economies, Fiji is the darling of foreign investors and enjoys great reputation among the business fraternity.

  • Time Frame: Approximately 3 to 4 Months
  • Taxation: 20% (Corporate Tax), 9% (Value Added Tax, VAT)
  • License: Fiji Foreign Exchange Dealer License

For each Director, Shareholder and Ultimate Beneficial Owner:

  • Notarized / Certified True Copy of Passport
  • Notarized / Certified True Copy of Proof of Address
  • Curriculum Vitae (C.V.) dated and signed
  • Notarized / Certified True Copy of Bank Statement
  • Reference Letter from Bank
  • Notarized / Certified True Copy of University Diploma
  • Notarized Criminal Background Report from native country
  • 2 Character Reference Letters from Principal Officer of previous employers
  • 3 Certified true likeness passport photos

 

For each Corporate Shareholders of the company:

  • Certificate of Incorporation
  • Memorandum of Association
  • Articles of associations
  • Notarized / Certified True Copy of last Annual Financial Return
  • Register of Directors
  • Register of Shareholdings
Company structure:
  • Minimum 1 Director (no nationality restrictions)
  • Minimum 1 Shareholder(no nationality restrictions)

Taxation:
  • Company Corporate Tax – 20%
  • Value Added Tax (VAT) – 9%
  • Withholding Taxes:
    • Dividends: 15%
    • Interests: 10%
    • Royalties: 15%
  • 8 Double Tax Treaties

Accounting requirements:
  • The Regulator has the discretionary power to request for the audit of company accounts. Auditors may be provided by Offshore Tech & Intermediary Services.

Others:
  • Secretary – Required
  • Registered Agent – Required
  • Registered office – Required
  • Legal Framework: Exchange Control Act
  • Regulatory Authority: The Reserve Bank of Fiji (RBF)
  • Capital Requirement: USD 24,500


Permitted Activities:

  • Trade in forex as a principle
  • Trade in forex as an agent on behalf of clients
  • Issue your own Managed Account products
  • Carry out trading on behalf of others (LPOA) etc. / CTA activities
  • Offer trading activities in forex, CFDs, futures
  • Forex CTA activities
  1. Compile and prepare of all of the documents, including due diligence documents for initial verification

  2. Incorporate a company in Fiji

  3. Submission of the application of Forex License by Offshore Tech & Intermediary Services to the Reserve Bank of Fiji (RBF)

  4. Prepare additional information requested, liaise with RBF on follow-up actions

  5. Open a bank account for the deposit of initial capital

  6. If all conditions are met, provisional approval will be granted by RBF
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