The Bulgarian MiFID under the Bulgarian Financial Regulation Commission (FSC)

The explanation on fees and set up in this memo apply to forex license, asset management license, security brokerage license

Bulgaria is the best option for EU license (for non EU license we can provide Vanuatu (in Vanuatu minimum capital is 2,000 USD)

The advantage of choosing Bulgaria for forex license or financial license are as follows:

Establishment, Registered Capital requirements, Fees

In order to start the licensing process and LLC or JSC has to be established (the Company). Pursuant to MFIA the Investment Intermediary can only perform activities as such and no other commercial activities are allowed. The capital of the company shall be as follows: BGL 250,000 (Approximately equivalent to EUR 125,000).

100 % of the capital shall be effectively paid prior to the establishment of the company, when the initial bank account is being opened. The funds are in full control of the owners and no one else.

Supporting Documents

Minimum Staffing Requirement

5 employees is an approximate number the number is not stated in the law. Now we mention 5 employees based on experience. Of course you could put 5 employees in the business plan and only hire 4 employees + the director

By experience we know that

So overall a fairly accurate estimation of the budget based on our experience will be 5500 to 6000 Euros

Now this being said we will try to do it as cheap as possible for you. So we may actually be able to go below the budget mentioned above but we preferred to give you a careful estimation.

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