Barbados Securities Company License

The Financial Services Commission is responsible for supervising and regulating non-bank financial institutions in Barbados. Securities Companies are regulated by the Securities Act Cap. 318A.

Permitted Activities

As per the Act, a Securities Company means a person carrying on business of dealing

in securities whether acting as principal or agent by way of business:

  1. Makes or offers to make an agreement with another person to enter into or offer to enter into an agreement, for or with a view to acquiring, disposing of, subscribing for or underwriting securities or in any way effects or causes to effect a securities transaction;
  2. Manages a portfolio of securities for another person on terms under which the first mentioned person may hold property of the other person.

Legal Requirements

Sr.

No

Element Requirement(s)
Entity Requirements The entity making the application is a Barbados:

  1. A company,
  2. Limited partnerships,
  3. Unit trust or
Director’s Requirements The licensee will need at least 2 (two) natural person Fit and Proper Directors of any jurisdiction.
Shareholder requirements
  • The Securities Company will need at least 2 shareholder.
  • Corporate shareholding is allowed and 100% foreign ownership is permitted.
Compliance Officer The Licensee must establish and maintain an appropriate and effective compliance function within the firm which operates independently of all operational and business line functions and senior or supervisory management.
Local Office The applicant must have premises acceptable to the Commission. The premises should be able to facilitate confidential interaction between the applicant and its clients, and provide for safe and confidential storage of documents.
Auditor The Licensee, within one month after becoming licensed, shall appoint an external auditor who is acceptable to the Commission
Insurance The applicant must have indemnity insurance coverage or a fidelity bond acceptable to the Commission.
Minimum Capital Requirements
    1. where the securities company is to carry on the business of broking only, $500 000;
    2. where the business of the securities company is to extend to equities and other securities,

$1 000 000;

    1. where the securities company is to carry on other activities in addition to broking for which registration under the Act is required,

$5 000 000

Ongoing Obligations

  1. A securities record of a registrant shall show separately for each security, as at the trade date or settlement date,
  2. All long and short positions, including securities in safekeeping, carried for the registrant’s account or for the account of clients;
  3. The location of all securities sold long, and the position offsetting securities sold short; and
  4. In all cases, the name or designation of the account in which each position is carried.

2. A quarterly record shall be prepared within 30 days after the end of each quarter, showing

  1. the proof of money balances of all ledger accounts in the form of trial balances;
  2. a reasonable calculation of the minimum free capital required

About Valsen Fiduciaries

Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.

    1. Company formations and Administration
    2. Assistance with Bank Account opening
    3. Collective Investment Setup and Administration
    4. Intellectual Property Registrations and Maintenance.
    5. Trusts and Foundations setup and administration
    6. Online Payment Gateway Solutions
    7. Banking Licenses and PSP, E-Money, E- Wallet Licenses
    8. Yacht and aircraft registrations.
    9. Cryptocurrency Solutions (ICO, STO, Crypto Exchanges etc)

The Valsen Advantage

  • We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
  • Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
  • We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
  • We have a full in-house compliance support for all compliance requirements with the regulator and service providers

Our Contact Details

Please visit us on: www.offshorelicense-regulatory.com , www.valsen-corporate.com

OR Contact us on:

  • Tel: +248 4321018
  • WhatsApp: +248 2525217
  • Skype: vf-international.com
  • Email: [email protected]

Telephone:

+248 252 5217

[email protected]

vf-international.com