In accordance with the provisions of the legislative acts of the Republic of Belarus, Forex companies can be opened on the territory of the country. The key advantages of the Republic of Belarus as a jurisdiction for the establishment of such an organization include the following factors:
The functioning of the Forex market is regulated by Presidential Decree of 04.06.2015 N 231 «On the implementation of activities in the over-the-counter Forex market». On the basis of this legal instrument are operating Forex National Center, the banking industry, as well as enterprise-bank financial sector, which are not banks.
Other organizations that are registered in accordance with the provisions of the legislation of the Republic of Belarus also have the right to implement the activities of the Forex company.
A prerequisite is the entry of commercial organizations into the register of Forex companies. In fact, this center is a subsidiary of the licensing institute. To be included in the register, the following conditions must be met:
The National Bank of the Republic of Belarus considers the submitted documents within 1 month. Compliance checks may take some time. Therefore, in practice, a certificate of inclusion of a company in the register is issued within 60 days.
Any Forex company registered in the Republic of Belarus can carry out international activities. Such organizations have the following potential:
Forex companies in Belarus have the rights to trade a variety of assets: starting from futures, ending with currency pairs, securities, as well as a system for copying transactions of successful traders. Regular clients are provided with a leverage of up to 200, and for professionals up to 500.
Since 2018, it has been possible to legally trade cryptocurrencies and conduct ICOs in Belarus, while the Russian regulator does not provide such a potential. It is possible to implement such activities only if you are a member of a High-tech Park.
The jurisdiction of the Republic of Belarus occupies a leading position in the Forex field in the territory of the Eastern Europe region. This trend is confirmed by a large number of strengths, which are described in detail above.
If you still have doubts or any questions, they can be dispelled during a personal consultation with experienced specialists of our company.