On the basis of the developed laws FCMC carries out a supervision of the companies’ activity, forms the list of activity types for which the permission receipt is required.
The broker companies, forex-companies, financial trustees (including acceptance of company investors’ orders for fulfillment), trading platforms management and so on are related to the investment «group».
License Issue Features
If Latvia is chosen as a place of operation, the investment license will require the company to be registered in the country. This procedure takes from 4 to 10 days (depending on availability of legal persons among founders), bank account activation takes from one to two weeks.
The company should provide:
- availability of an authorized capital more than 50 thousand Euro of internal funds which cover credit, currency, commodity risks;
- payment of the annual duty. The license is issued for an uncertain term, there is no payment for the license issue;
- a presence of a company registered according to all rules.
To establish a company (in the form of a joint-stock company or a limited liability company) it is necessary to submit an information about founders. It is also necessary to pay the authorized capital in full and open a bank account.
To receive the license upon the company’s establishment, it is necessary to hand in an application with the documentation package: the reporting, the description of the company and other documents. The registration will take up to 5 working days, after that a decision on permissions granting shall be taken within three-month term.
If Latvia is the registration place, the investment license is valid at the territories of other EU countries. For high-grade and legal work in these countries it is necessary to notify the national Commission on activity expansion and to undergo a certification procedure, if necessary.
“Aotopay” company will help you at all stages of license reception and work with it. Extensive practical experience and skills of employees allow us to resolve challenges, pass all formalities quickly, precisely, with minimum involving of the customer into the process.
