A Comoros company which has been issued with an Offshore Finance License can offer financial services to both private individuals and corporations worldwide, with no limitations on number of customers, amounts on deposit or number of currencies. ( other than local Union of Comoros citizens)
The Finance company can offer virtually anything a fully licensed bank can offer, but the word “bank” cannot be included in the name. Activities of a Comoros company which has been issued with an Offshore Finance License can include but are not limited to:
- Deposit taking & lending.
- Debit and credit card services
- Issuing of financial guarantees and instruments
- Cash management services
- Current accounts
- Cheque (Checking) accounts
- Savings accounts
- Term deposits
- Wire transfer services
- Payment processing services
- Fund management
- Marketing of investments
Although a Comoros Company with an offshore Finance License is not subject to Bank supervision and regulation, its activities are regulated by the Comoros International Banking Authority Act.