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Obtain Fiji Foreign Exchange Dealer License

Fiji Foreign Exchange Dealer License

Securities Dealer's License
The Fiji Islands are located in region of Oceania. Company in Fiji is an excellent way for international entrepreneurs to conduct business in one of the world's most rapidly growing economies. In contradistinction to classic offshore jurisdiction, Fiji Islands are having very positive reputation among investors.
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Timeframe: approximately 3 months

Minimum capital requirement by RBF: $24,500 USD


Overview

The company incorporated in Fiji Islands that wishes to conduct exchange business activities is required to hold a Foreign Exchange Dealer License granted by Reserve Bank of Fiji (RBF). 

The license, mentioned above, grants rights to:

  • sale, purchase and repatriation of travelers checks and foreign currency notes
  • remittance of the proceeds of repatriated Fiji currency notes
  • issue of bank drafts
  • use of telegraphic or electronic transfers for payment and receipt of funds
  • undertake matching of funds (transactions) to be restricted to Merchandise Imports
  • make payments in line with all currently delegated transactions as specified by the RBF

Bank account in Fiji

  • The bank account can be opened remotely, no need for a personal visit
  • There are different minimum deposit requirements depending on the bank
  • Additional documents such as business plan, supporting documents of financial transactions may be required

* Direct fees of the bank, such as account opening fee, credit card fees and others are payable to the Bank directly upon activation of the account.

Other benefits

  • Fiji Company portrays a good image to your Clients
  • Corporate Shareholders are permitted
  • 100% Ownership
  • High confidentiality, no publicrecords
  • No AEOI (Automatic Exchange of Information) planned
  • Bank account in Fiji
  • Not blacklisted
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Licensing Criteria and Procedures for Applying for Fiji Foreign Exchange Dealer License

Notable features
Procedure
Documents Required

General information

Company structure

  • Minimum 1 director (no nationality restrictions)
  • Minimum 1 shareholder(no nationality restrictions)

Taxation

  • Value added tax (VAT) - 9%
  • Company Corporate Tax - 20% (Loss carryback years)
  • Withholding Taxes: Dividends: 0/15%, Interests: 10%, Royalties: 15%
  • 8 Tax treaties: New Zealand, Japan, Australia, UK, Singapore, UAE, Malaysia, South Korea

Accounting & Audit 

  • The Regulator may determine in its discretion to have accounts of the company audited. Offshorelicense can provide auditors if it will be required.

Secretary - Required

Registered Agent - Required

Registered office - Required

Company name

  • Language: Any
  • Letters: From Roman alphabet
  • Names having royal, national, international, and commercial or other significance are prohibited
  • Names that are misleading or deceptive are prohibited
  • Identical or almost identical names are prohibited
  • Offensive names are prohibited
  • An only suffix “Limited” is allowed. After incorporation, the suffix “Ltd” can be used everywhere

In order to obtain a license, the following steps will be carried out:

  • Application for reservation of company
  • Preparation and submission of the application and documents to the Registry
  • Incorporation of the company
  • Opening of the bank account of the client’s choice
  • Obtaining the Money Changer or Foreign Exchange Dealer License

Please note that Memorandum & Articles of Association needs to be signed by the Shareholders and returned in original to Offshorelicense office.

In order to obtain license, Offshorelicense will fill all necessary application forms and also acquire apostilled corporate documents. 

For that reason, please provide us with the following documents.

  • A certified copy of a valid passport (of each Director and Shareholder of the company)
  • Recent copy of proof of address in English (ex. utility bill of each Director and Shareholder)
  • Bank reference Letter (of each Director and Shareholder) (Optional)
  • CV (of each Director and Shareholder)
  • Character references of Principal Officer from the previous employers
  • Certified true likeness passport photos of the shareholders and directors (minimum 3 copies)
  • Certified true copies of the police reports (of each Director and Shareholder of the company)

In the case if the shareholder is a company, needs to provide:

  1. - Copy of the last annual/financial return
  2.  - Certified true copy certificate of registration
  3.  - List of shareholders

N.B.

  • If documents are not in English language or language of particular country, then they must be accompanied by a notarized translation.
  • Please ensure that notarization is in English language if not then please provide with notarized English translation.