Becoming a broker in Belarus is 15 times cheaper than in Russia
As ForTrader.org experts have recently noted, Belarus is gaining momentum. Recall that In early June, the president of Belarus signed a decreeThe law regulates the activities of brokers in the country. Its entry into force is scheduled for March 07, 2016, which means that regulation in Belarus may come sooner than in neighboring Russia, where conditions will be much tougher.
Regulation raises consciousness in the financial market
The Association for the Development of Financial Markets (ARFIN - SRO-companies) believes that the regulation will allow to get rid of unscrupulous and weak players in this market. Thereby the level of legal protection of both broker clients and funds of these clients increases. The activities of the market are becoming more transparent.
There will be no tax on trading in Belarus
At the moment, before the entry into force of the legislative act "On", the National Bank of the Republic of Belarus (NBRB) is preparing its regulatory documents, disclosing the details of regulation and requirements for market participants.
Here are some details from NBRB documents:
- Creation of the National Center, which will receive all the information on transactions on the market;
- creation of a guarantee fund, formed from the contributions of brokers, which will fulfill obligations to clients of bankrupt companies;
- to increase financial stability, -brokers will be required to form a security capital to meet their obligations to clients;
- The NBRB will have access to regulate the level of risk for -brokers and the National -center;
- To become a -broker and get on the appropriate register, which will be available on the NBRB website, a legal entity must be registered in the Republic of Belarus and have a charter capital of at least 2 billion Belarusian rubles ($130 thousand, whereas in Russia $2 million), contributed in cash;
- Within 3 years after the entry into force of the decree, Belarusian -brokers will be able to pay income tax reduced by half (in the amount of 9%), while Individuals will be exempt from tax altogether;
- the software to be used by the -broker must pass the mandatory verification by the NBRB, or the software will be provided by the National -center;
- for managers and shareholders of -companies will be established requirements for their qualifications and business reputation;
- in the field of advertising, emphasis will be placed on conveying to clients the full information about the riskiness of operations in the market and the non-guaranteed income from them.
Thus, Belarusian jurisdiction becomes extremely attractive not only for companies operating on the territory of the republic, but also for foreign players, including foreign clients, the ARFIN noted.
I definitely liked the tax. It opens a green light to Forex in Belarus. We should also expect an increase in the number of brokers.
Our clowns still have a lot to learn from BATHKA.