SA CAT1 License for Sale 2023
SA CAT1 Insurance Licence for Sale 140k€
Year of Establishment 2023
The SA license is perfect for offshore entities that want to be regulated
Fast transfer of shares (less than 10 business days)
Easy access to PSPs and Bank Accounts
Since the SA licenses are very popular in demand, there has been a shortage of Derivatives (FX CFDs) only licenses. In that case we can acquire a CAT-1 licensed company and we will convert it into a Derivatives (FX CFDs) license with the addition of the Key Individual. This process takes about 6-8 weeks.
The price includes the opening of a new bank account
Monthly services provided: 8k € which includes Key Individual, local director, Compliance officer, and local registered office address.
Procedure: 50% down payment upon sign of SPA agreement and service agreement
Detail description:
The company that intends to operate as an investment firm in order to conduct Forex business in South Africa must obtain a Category I FSP license with FSCA. To act as an intermediary in securities and instruments (shares, money market instruments, bonds, and derivative instruments).
The application for a Category I license requires the preparation of excessive paperwork, continuous liaising with FSCA, and the local presence of the applicant in South Africa in order to pass regulatory exams and attend verification at a local bank. Furthermore, the proposed activity of the Applicant and the professional and academic background of all appointed individuals will be closely investigated by the regulator.
Every Applicant is required to appoint a Representative in South Africa, at least one Key Individual, and a compliance officer; all the persons must be registered with FSCA. At least one Key Individual must be resident in South Africa in order to effectively take part in company management. Each Key Individual and Representative must pass certain regulatory examinations that are held on a regular basis in South Africa or the UK. A licensee must have an account in a local bank to deposit the initial capital and use it for corporate needs. A licensed company is subject to strict compliance reporting and constant monitoring of its activity by a compliance officer who submits the same to FSCA.
The following steps will be carried out:
Gathering of relevant KYC documents for initial verification
Registering Key Individuals and Representative(s); attending regulatory exams
Establishment of a company/branch in South Africa
Preparation of business plan and necessary manuals and procedures, obtaining the insurance
Opening a bank account in a local bank, a deposit of capital
License application for changes with FSCA.
Company structure and staff:
Minimum 1 shareholder (can be legal entities or natural persons)
Minimum 1 director (can be only natural persons)
A Representative
At least 1 (preferably 2) Key Individuals
A compliance officer
External auditor(s)
Professional Indemnity Cover – Required (cover of 5 million Rand (around 350,000 USD))