yes it is required, I think it is aprox USD 500,000 now, I'm not sure, will have to digg a little around to see what the requirements are now.
here are some more details:
Requirements:
Below are the requirements for applying for a Forex or Securities Trading License from the IFSC:
1. The application must be submitted in the prescribed form.
2. Biographical Affidavit of each proposed director, shareholder and officer must be sworn on oath and submitted. (All degrees and qualifications must accompany the affidavits)
3. Curriculum Vitae- for each director, shareholder and officer of the company.
4.
Five year business plan - Belize’s IFSC is naturally keen to protect the jurisdiction’s reputation. They will review each application on its merits and will license only serious and professionally managed businesses.
Business Plan should be detailed and well-presented in English including information on the principals and their experience, the technology platform to be used, professionals retained by the company such as accountants and auditors, the marketing plan, AML/
KYC Policy and financial projections and all other relevant information. We prefer that this business plan is prepared by you the client, since you are the one who knows your business best and can therefore describe it best.
In some cases we may be able to help with drafting the business plan, but this service is chargeable extra depending on the work involved and is not included in the fee we charge for handling the license application.
5. Copy of share
certificate(s) showing all shares in the company have been issued.
6
. Evidence of the minimum paid up capital must be provided. In the case of a Forex and Securities Trading License, this shall be US$100,000 held in a term deposit with designated Bank which shall remain unimpaired for the duration of the license
. (this requirement can be met after IFSC has approved the application and requests collateral confirmation to finalize the process)
7. The Directors and Shareholders of the company will need to be available for visits with the Director General for interviews on the matter
8. IFSC may request additional documents after reviewing the license application.
