The CFC act lays out the framework to facilitate the establishment of Brokerage and Clearing House License business from The Union of the Comoros. Application for Brokerage licenses is made to the Comoros Finance Commission applicants must have an IBC (International Business Company). Both an IBC and Licenses can be applied for at the same time. There is only one class of Brokerage business authorized by the CFC.
This License is subject to any variations of the Comoros Finance Commission Act number: 17-008/01/CFC/AU of 2017 Law Number 17-008/AU.

The objects and purposes of the company is to offer Brokerage services for non-residents of the Union of the Comoros. All or any of the following can be operational.

  1. Stock Brokerage
  2. Securities Brokerage
  3. Financial Advisory
  4. Asset Management
  5. Fund Management
  6. Custody Services
  7. Transaction Clearing
  8. Payment Processing
  9. Currency Trading (FOREX)
  10. Issuance of Securities
  11. Underwriting of Securities


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Forming a brokerage is a relatively quick process due to the lack of bureaucracy. Approval can be granted swiftly if the necessary requirements are met. There are no requirements for local offices or staff, although we would suggest that all companies have this facility which can be arranged at a minimal cost. Application for issue of a Brokerage license should be made to Comoros Services Ltd.
The following KYC documents will be required:

  • The percentage of ownership by the shareholders.
  • The details of the ultimate beneficial owners (chart may help if many);
  • Any other useful information to support the application.
  • CVs of all the directors.
  • Full contact details of the directors and shareholders 
  • Bank reference for all the beneficial owners.
  • Clear certified passport copies of all beneficial owners and Directors.
  • Proof of addresses (utility bills);
  • Business or legal reference for the beneficial owners and directors.
  • Legal doc for the shareholding companies (articles, certificate of incorporation etc);
  • Latest audited financial statements for all shareholding companies (if any);

Furthermore, all companies with Brokerage licenses are required to submit their annual accounts to the CFC within 3 months of the year end.