In the present article, the UTIP Technologies specialists pointed out the advantages of working without license for forex brokers and common non-regulated jurisdictions.
Why registering a forex-company in unregulated areas is worthy?
Non-regulated jurisdictions, also known as offshore zones, are popular because of low or zero taxation and various perks. Unregulated brokers are free from making a number of procedures, providing financial reports and doing other activities. Meanwhile, their licensed colleagues are required to perform it regularly.
As an example, regulatory authorities underway monitoring procedures in the offshore jurisdictions. But an unregulated broker is immune to it.
Benefits of selecting an offshore jurisdiction for company registration:
- A low-priced company registration;
- Coherent procedure for opening a company and further maintenance;
- A completely remote registration process, no cost of visiting the country, maintaining the office and its staff;
- A minimum set of documents for registration;
- 1-month company registration period.
Unregulated jurisdiction is the most favorable option for novice brokers. The reason is that a new entrant can make the most of money saved on the license. For example, to invest in high-quality lead flow, connect several payment solutions including a cashier one etc.