Estonia Forex License

Necessary requirements:

• A copy of the memorandum of association or notarised foundation resolution.
• A copy of the Articles of Association, if the company is already active, the owners’ resolution regarding amendments to the Articles of Association and the latest version of the Articles of Association with all amendments.
• A list of the shareholders, stating the name, personal identification number or registration code for each shareholder, with date of birth if the personal identification number or registration code is not available, all the information on the number of shares and votes held by each shareholder.
• The information referred to in section 74 (1) of the Securities Act, which is related to the shareholders or other persons who hold a significant interest in the company, and the information referred to in section 55 (1) of the Securities Act, which is related to the relationships with investment companies, credit institutions, insurance companies or any other persons who are under the financial supervision of the Republic of Estonia.
• Information on the members of the Board of Directors, including their identification data, personal identification code or date and place of birth, education, full list of positions held in the last five years, and a description of their areas of responsibility and other documents confirming their reliability.
• Information on the companies in which the applicant or his managers have a participation exceeding 20%, indicating the size of the share capital, the fields of activity and the amount owned by the applicant and each manager.
• Information on the auditor and the person(s) carrying out the internal audit, including name, place of residence and registered office, personal identification number and, if none, date of birth or registration code.
• The applicant’s opening balance sheet and an overview of the costs of the applicant, if the company is already active, the balance sheet and profit and loss account at the end of the month preceding the month of application and, if they exist, the last three annual accounts.
• If the company is active, documents proving the amount of its own funds will be required.
• If a credit institution or management company, investment fund, investment company, insurance company or any other person who is subject to the financial supervision of a third country has a qualifying interest in the applicant company, confirmation from the supervisory authority of that country is required.
• A three-year business plan, which includes at least a description of the planned activities, organisational structure, information systems and other technical means used, a description of the financial indicators.
• Internal accounting rules and procedures as laid down in section 82 of the Securities Act.
• The procedural rules set out in section 14 (1) of the Money Laundering Prevention Act.
• Confirmation from the supervisory authority of the payment of the state duty.