It is essential to obtain a forex license when performing a business activity in Estonia. Licenses are issued by the Estonian Financial Supervision Authority (EFSA).

The company’s activities may include the following:

  • Establishing a joint-stock company
  • Opening a representative office
  • Opening a branch

Joint-stock company

To get a forex license, a joint-stock company must be formed first.

The following must be undertaken to establish a joint-stock company:

  • Appointing an auditor
  • Document preparation
  • Opening a bank account
  • Registration at a notary
  • Capital — 25 000 EUR
  • Registration in the Securities Centre

Requirements

After completing the steps, the following documents should be submitted to EFSA:

  • Charter / notarial constituent documents
  • Information about shareholders, stockholding
  • Information about founders, members of board/council
  • Information on the companies in which the petitioning company participates by more than 20%
  • Information about auditors of internal control authorities
  • Balance, profit and loss statement, the annual report (for active company)
  • Business development plan for the next three years
  • Document confirming an obligation to make payment to a pledge fund upon receipt of the license — single time, 1300 EUR
  • and other documents (the specialist will define)

To receive a license, it is necessary to have an authorized capital in the sufficient amount:

  • Operations with securities, including in the name of a customer/at the expense of a customer — 50 000 EUR
  • Emission and securities portfolio management — 125 000 EUR
  • Underwriting, storage, securities management, trading at own expense — 730 000 EUR

Time frame

It usually takes up to 4 months to obtain a forex license in Estonia.

Representative office

The representative office of the company must provide the following to be approved by the authority and operate legally:

  • a certificate proving the license availability in the country where the head office functions
  • an activity plan of the representative office
  • a power of attorney issued by the head company
  • a certificate or an extract on the head structural unit registration
  • articles of association
  • address of the representative office

Opening a branch

The branch of the company must provide the following to obtain an operating license in Estonia:

  • name and address of a branch
  • information about the head of the structural unit
  • business plan
  • if the parent company does not operate inside of the EU, it is also required to receive: permission to establish the branch
  • confirmation of legal operation of the company
  • certificate that the parent structure has the license
  • financial report on the head company’s activity

Company in Estonia OÜ can help obtain a forex license for your business activity. Please request a consultation.

Medium account for the Company in Estonia OÜ; a team of professionals assisting in formation and developing business in Estonia.