Any business engaged in crypto-related activity must have a relevant license. This requirement guarantees that the crypto company protects its customers’ crypto assets and complies with applicable laws. Obtaining a crypto license in the Comoros is a straightforward and reliable way to conduct legal activities related to cryptocurrencies. In this article we will explain why you should consider this option. Remember, you can contact us to arrange a consultation, a free fifteen-minute meeting, or a paid consultation with an expert in licensing (1-hour session for 300 euros, reduced from 500).
Obtaining a Crypto License in Comoros
The Union of the Comoros consists of four islands: Grande Comore, Mohéli, Mayotte, and Anjouan. This island nation has maritime borders with Madagascar to the southeast, Mozambique to the west, Tanzania to the northwest, and the Seychelles to the northeast. Today, the Comoros are in high demand among entrepreneurs seeking to obtain a crypto license. This permit is officially called an international brokerage license and is suitable not only for crypto exchanges but also for the following kinds of activity:
- To accept cash deposits of any type (depositary transactions).
- To provide loans and borrow funds (loan transactions).
- To carry out currency and exchange transactions.
- To issue securities and process credit cards.
- To provide securities safekeeping, manage securities, and accomplish securities purchase or sale.
- To act as an intermediary in securities trading.
- To provide guarantees of any type (guarantee business).
- To effect payments (opening of accounts for legal entities and individuals).
- To hold assets, capital, precision metals, bonds, shares, or other financial instruments for third parties.
- To undertake electronic commerce (e-commerce).
- To provide other financial services.
- Cryptocurrency trading
- Crypto Currency Exchange Operator (utility token and security token)
- Crypto liquidity
- Crypto storage
- CFD contract for difference
You can obtain this universal document quite quickly, and its cost is quite affordable. A Comoros crypto license allows holders to comply with legal norms and conduct their activities on a legal basis. Today’s cryptocurrency exchanges are the objects of a strictly regulated industry. If the business starts working in the sphere of digital currencies without a due permit, it is heading for trouble and penalties.
Why you should obtain a crypto license in the Comoros Islands:
- International expansion. An international brokerage license allows you to engage in business activities practically anywhere in the world. For example, a crypto exchange can offer its services on the global market, thereby considerably expanding its customer base.
- Banking partnership. If your company has a permit, it will be easier for you to form mutually beneficial relations with banks. Cryptocurrency is a high-risk sector that financial institutions are not very willing to deal with. However, possession of a crypto exchange license adds credibility to the enterprise that works with digital assets.
- Crypto exchange reliability. The regulator that issues permits will conduct a preliminary and thorough check of the applicant. Thus, the availability of a crypto license increases business legitimacy as it means that a stringent check has been successfully passed.
The document lets your business expand its service range and offer conversion services, trade in futures, and perform many other tasks in addition to cryptocurrency exchange.
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How to Obtain a Comoros Crypto License
Both local and foreign companies can obtain a crypto license. A foreign company can open an affiliated company in the Comoros if needed. The timeframe for obtaining a license in the Comoros is from 14 days and depends on the preparation of all the necessary documents.
You will need to provide the following documents to the regulator to obtain a crypto license in Comoros:
- A properly filled-out application form.
- A detailed business plan.
- Documents related to all company directors and owners.
- A manual on AML policy.
- A full range of services that the company will provide.
- Copies of the company’s registration documents that confirm the business’s legitimacy.
If your company engaged in these activities before, you will need to provide corporate account statements. Your company will also need to grant financial guarantees. The minimum amount is 250,000 EUR, but it can be higher in some cases.
What security can be provided on bank guarantees? According to the regulator, this requirement can be met by paying the entire amount in cash. You can also seek the assistance of local insurers that offer this service at a certain fee. Your company can also obtain international financial guarantees. In this case, the guarantee can be provided by a foreign bank – that is, the required insurance amount will be on its account.
How to Obtain a Crypto License
If you decide to engage in crypto business, obtaining a crypto license is a mandatory step. If you choose Comoros as the place to obtain this permit, you will get a reliable crypto license for your business. Don’t hesitate to get in touch with the experts on our portal by email, WhatsApp, or use other communication channels to discuss the details. You can arrange a consultation of your choice. A free fifteen-minute meeting to get some questions answered or an overview, or a deeper dive in a one-hour session with an expert (priced at 300 euros, reduced from 500).
