FOREX TRADING LICENCE BULGARIA
GETTING THE FX TRADING LICENCE IN BULGARIA
Our law office provides a full range of financial legal advises & professional financial services to FX companies, comming from abroad.
The Bulgarian Financial Supervision Commission has been the main regulatory authority in charge of registering, maintaining stability & transparency within the non-banking financial industry in Bulgaria. This Bulgarian Financial Supervision Commission ensures the protection of consumers through legal, administrative and informational assistance.
The Republic of Bulgaria is a good place for brokers working with European regulation because since 2007 the country is part of the European Union, becoming licensed in Bulgaria allows FX brokers to operate within the European Union.
The Republic of Bulgaria has an incredibly favourable corporate tax rate of only 10%, reasonable incorporation and licensing fees and access to a highly qualified workforce for one of the lowest salaries in Europe.
All this means, the country is not only part of the European Union, but it is also an active member of the Markets in Financial Instruments Directive, MiFID, the commission in charge of developing standards of good practice in the non-banking financial sector, throughout the European Union.
The regulation steps throughout the various European jurisdictions are difficult & expensive, the Markets in Financial Instruments Directive harmonizes the regulation of Bulgaria as a country with common requirement as all of the members of the EU.
The Bulgarian Financial Supervision Commission
The Bulgarian Financial Supervision Commission is the country’s financial regulatory entity in charge of issuing Forex licenses after examining documents & certificates, provided by companies as part of their applications for permit issuance, amending license status in the event of non-compliance, and enforcing regulation to ensure that organizations that hold an FSC license follow all rules & regulation to which they are bound. The purpose of the supervisory activity from the part of the FSC is to ensure the prevention and/or termination of any legal violation.
This protects the interest of investors by ensuring the new registered FX company compliance of all legal requirements, but also ensuring the operators’ financial stability and that the information they provide to consumers is accurate and reliable.
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