Dec 14, 2023

Why Comoros Stands Out for Crypto Licensing in 2024

In Comoros, a crypto license is a reliable and simple way for a company to operate legally in the field of cryptocurrencies. As things stand, it shows that the crypto entity follows the relevant laws and reliably protects its clients’ digital assets. The logical conclusion is, any enterprise that deals with cryptocurrencies in 2024 must have a license suitable for its activities.

Crypto license in Comoro

Legality and beyond the strategic impact of Comoros crypto license

A versatile document that allows its holders to conduct various activities in the financial sector, here’s what a crypto license in Comoros can be used for:

  • trading securities and currencies (Forex)
  • providing brokerage and custodial services
  • offering financial consultancy and asset management
  • issuing and underwriting securities
  • and a lot more.

This license is also known as an international brokerage license and is suitable for crypto exchanges and other businesses that deal with cryptocurrencies. 

It is probably common knowledge that the Comoros are a group of four islands in the Indian Ocean, surrounded by Madagascar, Mozambique, Tanzania, and the Seychelles. As far as business issues go, it is a popular destination for entrepreneurs who want to obtain a crypto license, and here’s why:

  • Legal compliance. A crypto license in Comoros ensures that the business follows the relevant laws and regulations and operates on a legal basis. Cryptocurrencies are a highly regulated industry and operating without a license can lead to fines and penalties.
  • International expansion. With a Comoros crypto license, businesses are free to offer their services to customers around the world and access new markets. For example, for a crypto exchange, it comes with an opportunity to advertise its conversion services, futures trading, and other features in addition to cryptocurrency exchange.
  • Banking partnership. Would you like to not only enhance the credibility and legitimacy of your business but also make it easier for the latter to establish relationships with banks? A crypto license in Comoros is a possible solution! Banks are often reluctant to work with high-risk sectors where cryptocurrencies belong as well but the above license is likely to increase their trust and confidence.
  • Crypto exchange reliability. If your business holds a crypto license in Comoros, it means it has passed a rigorous check by the regulator and now meets the highest standards of quality and security. Hence, more customers and investors who value the safety of their digital assets are likely to come to you.

Get your crypto license now, ask us how!

In 2024, obtaining a crypto license in Comoros is both fast and affordable, which makes it an attractive option for businesses that want to operate legally in the field of cryptocurrencies.

To get a crypto license in Comoros, both local and foreign companies are eligible. A foreign company can also set up a subsidiary in Comoros if needed. The registration of a new company here takes no more than a day.

The regulator requires the following documents from the applicant to issue a crypto license in Comoros:

  • completed application form
  • business plan with the necessary details
  • documents of all owners and directors of the company
  • manual on AML policy
  • list of services that the company will offer
  • copies of the company’s registration documents that prove the business’s legality.

Please mind that if the company has previous experience in these activities, it will also need to provide statements of its corporate accounts. The other requirement is to give financial guarantees to the regulator, and this one you shall also meet to be eligible. The minimum amount is EUR 50,000 but it may vary depending on your particular case.

The financial guarantees can be secured in different ways. One option is to pay the full amount in cash to the regulator. Another one is to use the services of local insurers who charge a fee for this. Remember that you also have the option to get international financial guarantees. In this case, a foreign bank will hold the required insurance amount in its account.

A necessary step to get your crypto business going, getting a license in this field doesn’t have to be either lengthy or challenging. You just need to know the ins and outs of it. Without a doubt, Comoros is a reliable choice for obtaining this permit in 2024. Willing to push your luck? Come to Offshore Pro Group for advice and assistance. You can use our e-mail, WhatsApp, or other communication channels to discuss the details with Offshore Pro experts.