National Supervisory Authority & Licensing Qualification Dossier • Offshore Financial Centre
VFSC
Cayman Islands / Bermuda / British Virgin Islands / Bahamas / Mauritius / Seychelles / VanuatuVanuatu Financial Services Commission
- Supervisory tier
- Offshore
- License classes
- 2
- Licensed records
- 62
- Active / regulated
- 25
Statutory Supervisory Mandate & Scope
Vanuatu Financial Services Commission (VFSC) operates as a statutory financial supervisory authority regulating financial institutions in 5 (VU). The authority oversees entity licensing, capital adequacy compliance, conduct supervision, and enforcement disclosures via its official registry at vfsc.vu.
Supervises Securities Investment Business licensees, Virtual Asset Service Providers (VASPs), mutual and private investment funds, captive insurers, and international brokerage entities.
Prudential Tier Assessment
OffshoreRecognised international offshore financial centre supervisor regulating global hedge funds, institutional prime vehicles, digital asset exchanges, and cross-border securities dealers.
National licensing qualifications & statutory authorisation classes (VFSC)
Authorisation categories, permitted institutional and retail activities, minimum initial capital adequacy, and ongoing prudential solvency rules enforced by VFSC in Cayman Islands / Bermuda / British Virgin Islands / Bahamas / Mauritius / Seychelles / Vanuatu.
| License class / code | Official designation | Permitted institutional & retail activities | Minimum initial / base capital | Ongoing prudential & solvency rule |
|---|---|---|---|---|
| Full Service / Market Maker Securities Dealer | Securities Investment Business / Investment Dealer (Full Service Dealer Including Underwriting) | Acting as principal or market maker in securities, FX, CFDs, and commodities; executing client orders and managing portfolios. | USD $50,000 (Seychelles FSA SD / Vanuatu VFSC Class A–D statutory bond) to MUR 10,000,000 (~USD $220,000 Mauritius Full Service Dealer) or USD $300,000+ (Bahamas SCB / Cayman CIMA / Bermuda BMA). | Maintenance of unimpaired minimum net capital, local physical office and resident directors/MLRO, and Professional Indemnity Insurance. |
| VASP / Digital Asset Business (Class F / DARE) | Virtual Asset Service Provider & Digital Asset Exchange / Custodian Licence | Operating a virtual asset trading platform, digital asset derivatives exchange, custodial wallet service, or token issuance. | USD $100,000 to USD $1,000,000+ risk-based capital depending on custody volume and exchange turnover. | Cybersecurity penetration testing, cold/hot wallet segregation, independent custody audit, and quarterly regulatory filings. |
Investor compensation, client money segregation & digital-asset regime
Statutory counterparty protections, custody reconciliation mandates, and virtual-asset licensing status under VFSC.
Contractual Custody & Segregated Trust Accounts (No Statutory Retail Compensation Fund)
- Maximum coverage per client
- EUR €0 / USD $0 statutory government compensation scheme (protection relies on segregated client trust accounts, minimum paid-up capital/bonds, and Professional Indemnity Insurance)
- Eligible counterparties & scope
- Global cross-border retail and institutional clients onboarded outside restricted onshore jurisdictions (US, UK, Japan, Canada typically excluded by terms of business).
CIMA Statement of Guidance on Client Assets / Mauritius Securities Rules / Seychelles Securities (Conduct of Business) Regulations
- Reconciliation & audit cadence
- Mandatory separation of client funds from proprietary operating accounts; periodic reconciliation audited annually.
- Approved custodian requirements
- Client moneys must be held in designated client trust accounts at approved domestic or international commercial banks.
Cayman VASP Act, Bermuda DABA Class F/M & Bahamas DARE Act 2024
- Travel Rule, custody & stablecoin rules
- Full FATF Recommendation 15 & 16 AML/CFT and Travel Rule compliance supervised via annual AML audits.
Primary Governing Statutes & Rulebooks
- Cayman Islands Securities Investment Business Act (SIBA) & Virtual Asset (Service Providers) Act (VASP Act)
- Bermuda Digital Asset Business Act 2018 (DABA) & Investment Business Act 2003
- BVI Securities and Investment Business Act (SIBA) & Bahamas DARE Act 2024
- Mauritius Financial Services Act 2007, Seychelles Securities Act 2007 & Vanuatu Financial Dealers Licensing Act [Cap 70]
Regulatory Reporting & Audit Obligations
Annual audited financial statements prepared under IFRS/US GAAP and submitted within 3 to 6 months of financial year-endMandatory appointment of an approved Anti-Money Laundering Compliance Officer (AMLCO) and Money Laundering Reporting Officer (MLRO)Annual AML/CFT Independent Audit and Economic Substance (ES) annual filing
Cross-Border Equivalence & Passporting
Offshore licences permit international cross-border onboarding where lawful under reverse solicitation, but do not grant automatic onshore passporting into the US, UK, EU, or Japan.
Supervised institutions & VFSC licence records in our database
62 licence records referencing VFSC (25 regulated/registered, 7 flagged with warnings/revocations).
| Institution | Licence number | Status | Licensed legal entity | Effective date | Verification |
|---|---|---|---|---|---|
| Rallyville Markets | 41698 | Regulated | RALLYVILLE MARKETS LIMITED | 2023-08-22 | |
| Advanced Markets | 14581 | Cancelled | Advanced Markets | — | |
| TMGM(Cross-jurisdiction record) | 40356 | Offshore | Trademax Global Limited | 2022-12-22 | |
| AC Capital Market(Cross-jurisdiction record) | 700597 | Regulated | AC CAPITAL MARKET (V) LTD. (700597) [International Company] | 2022-08-26 | |
| Doo Prime(Cross-jurisdiction record) | 700238 | Regulated | DOO PRIME VANUATU LIMITED | 2023-04-17 | |
| Royal(Cross-jurisdiction record) | 700284 | Regulated | ROYAL CM LIMITED | 2022-10-16 | |
| Fusion Markets(Cross-jurisdiction record) | 40256 | Regulated | Gleneagle Securities Pty Limited | 2023-01-06 | |
| HTFX(Cross-jurisdiction record) | 700650 | Offshore | HTFX VU LIMITED | 2019-02-24 | |
| PRCBroker(Cross-jurisdiction record) | 14788 | Offshore | Performance Ronnaru Capital Ltd | 2022-12-20 | |
| CWG(Cross-jurisdiction record) | 41694 | Offshore | CWG MARKETS LTD | 2023-10-02 | |
| Direct TT(Cross-jurisdiction record) | 40169 | Offshore | Direct Trading Technologies Ltd | 2023-01-09 | |
| LegacyFX(Cross-jurisdiction record) | 14579 | Offshore | An All New Investments (VA) Limited | 2019-04-13 | |
| Hantec Markets Australia(Cross-jurisdiction record) | 40318 | Regulated | Hantec Markets (V) Company Limited | 2021-11-22 | |
| JFD(Cross-jurisdiction record) | 17933 | Offshore | JFD Overseas Ltd | 2023-01-17 | |
| AETOS(Cross-jurisdiction record) | 700450 | Regulated | AETOS Markets (V) Ltd | — | |
| Blueberry Markets(Cross-jurisdiction record) | 700697 | Offshore | BLUEBERRY MARKETS (V) LTD | 2023-11-30 | |
| Decode Global(Cross-jurisdiction record) | 700415 | Regulated | DECODE GLOBAL LIMITED | 2023-04-25 | |
| Vantage(Cross-jurisdiction record) | 700271 | Offshore | VANTAGE GLOBAL LIMITED | 2023-08-22 | |
| FXTRADING(Cross-jurisdiction record) | 40256 | Offshore | Gleneagle Securities Pty Limited | 2023-01-06 | |
| FPG Fortune Prime Global(Cross-jurisdiction record) | 700507 | Offshore | FORTUNE PRIME LIMITED | 2021-08-19 | |
| Vatee(Cross-jurisdiction record) | 40097 | Offshore | VATEE PTY LIMITED | 2024-09-02 | |
| Gerchik & Co(Cross-jurisdiction record) | 40512 | Offshore | Gerchik& CO Limited | 2022-10-16 | |
| Juno Markets(Cross-jurisdiction record) | 40099 | Regulated | Juno Markets | 2022-10-16 | |
| FXGT.com(Cross-jurisdiction record) | 700601 | Regulated | GT GLOBAL MARKETS LIMITE | 2024-01-24 | |
| Deriv(Cross-jurisdiction record) | 14556 | Regulated | Deriv (V) LTD | 2022-12-23 | |
| GTC(Cross-jurisdiction record) | 40354 | Offshore | GTC GLOBAL TRADE CAPITAL CO. LIMITED | 2023-06-02 | |
| FXGlobe(Cross-jurisdiction record) | 700227 | Regulated | FS INTERNATIONAL LIMITED | 2023-02-28 | |
| Mohicans Markets(Cross-jurisdiction record) | 40306 | Regulated | MOHICANS MARKETS CAPITAL PTY LTD | 2024-05-14 | |
| CA Markets(Cross-jurisdiction record) | 700714 | Offshore | CA Markets Limited | 2024-02-19 | |
| Global Prime(Cross-jurisdiction record) | 40256 | Regulated | Gleneagle Securities Pty Limited | 2023-06-06 | |
| DLSM(Cross-jurisdiction record) | 700455 | Offshore | DLS MARKETS LIMITED | 2023-06-13 | |
| Evest(Cross-jurisdiction record) | 17910 | Regulated | ATRIAFINANCIAL LTD | 2020-08-30 | |
| FPG(Cross-jurisdiction record) | 700507 | Regulated | FORTUNE PRIME LIMITED | 2022-12-30 | |
| Market Equity(Cross-jurisdiction record) | 40221 | Regulated | MARKET EQUITY INC | 2022-12-30 | |
| National Bank of Vanuatu(Cross-jurisdiction record) | 39644 | Regulated | NATIONAL BANK OF VANUATU LIMITED | 2012-07-19 | |
| Pure Market(Cross-jurisdiction record) | 14801 | Revoked | PURE M GLOBAL LIMITED | 2022-10-16 | |
| Titan FX(Cross-jurisdiction record) | 40313 | Regulated | Titan FX Limited | 2020-06-21 | |
| xChief(Cross-jurisdiction record) | 14777 | Regulated | ForexChief Ltd | 2023-01-09 | |
| XGLOBAL(Cross-jurisdiction record) | 15062 | Offshore | XGLOBAL FX LIMITED | 2022-12-30 | |
| AdroFx(Cross-jurisdiction record) | 700546 | Revoked | ADROMKT LIMITED | 2023-04-17 | |
| Olymptrade(Cross-jurisdiction record) | 40131 | Regulated | Aollikus Limited | 2023-01-06 | |
| OWM(Cross-jurisdiction record) | 40299 | Regulated | ORIENTAL WEALTH MARKETS LIMITED | 2023-04-14 | |
| Smart FX(Cross-jurisdiction record) | 40491 | Regulated | SMART SECURITIES & COMMODITIES LIMITED | 2018-06-28 | |
| OneRoyal(Cross-jurisdiction record) | 700284 | Offshore | Royal CM Limited | 2022-12-23 | |
| morningfx(Cross-jurisdiction record) | 14677 | Offshore | MORNING MARKETS LTD | 2023-02-20 | |
| Seventy Brokers(Cross-jurisdiction record) | 14885 | Revoked | Seventy Investech (Vanuatu) Co., Limited | 2021-03-08 | |
| AccentForex(Cross-jurisdiction record) | 17926 | Regulated | Accent Markets | 2022-12-23 | |
| Clover Markets(Cross-jurisdiction record) | 14697 | Cancelled | Clover | 2020-08-30 | |
| FXPIG(Cross-jurisdiction record) | 014578 | Revoked | Prime Intermarket Group Asia Ltd | 2018-05-12 | |
| Scandinavian Capital Markets(Cross-jurisdiction record) | 700472 | Regulated | Scandinavian Capital Markets Ltd | — | |
| SLG Markets(Cross-jurisdiction record) | 40518 | Offshore | SUN LONG GMTK INTERNATIONAL LIMITED | 2024-10-16 | |
| BMFN(Cross-jurisdiction record) | 40202 | Cancelled | BMFN Limited | 2023-02-02 | |
| CDO Markets(Cross-jurisdiction record) | 17936 | Offshore | CDO Markets Limited | 2022-12-23 | |
| CM Trade(Cross-jurisdiction record) | 40452 | No licence | PROFIT MARKETS LIMITED | 2024-01-23 | |
| DUHFX(Cross-jurisdiction record) | 14634 | Revoked | Dragon Universal Holding Limited | — | |
| Real Market(Cross-jurisdiction record) | 14801 | Suspected clone | PURE M GLOBAL LIMITED | 2022-10-16 | |
| ThreeTrader(Cross-jurisdiction record) | 40430 | Offshore | Threetrader Global Limited | 2022-10-16 | |
| UBFX(Cross-jurisdiction record) | 14745 | Cancelled | FINANCE MANAGERS | 2021-09-09 | |
| Blafx(Cross-jurisdiction record) | 14663 | Cancelled | BETHLE ASTER GLOBAL INVESTMENT LIMITED | 2019-07-18 | |
| xDirect(Cross-jurisdiction record) | 14652 | Cancelled | Xeta Direct Ltd | 2021-08-11 | |
| Global Pop Liquidity Solutions Ltd.(Cross-jurisdiction record) | 14808 | Offshore | GLOBAL POP LIQUIDITY SOLUTIONS LTD | 2023-04-25 | |
| FXPrimus(Cross-jurisdiction record) | 14595 | Offshore | Primus Markets INTL Limited | 2022-10-03 |
VFSC (Cayman Islands / Bermuda / British Virgin Islands / Bahamas / Mauritius / Seychelles / Vanuatu): institutional licensing & due diligence FAQ
Key statutory capital, compensation, custody segregation, and verification answers for compliance teams.
What are the primary licensing classes and minimum capital requirements under VFSC (Cayman Islands / Bermuda / British Virgin Islands / Bahamas / Mauritius / Seychelles / Vanuatu)?
VFSC (Vanuatu Financial Services Commission) supervises financial institutions in Cayman Islands / Bermuda / British Virgin Islands / Bahamas / Mauritius / Seychelles / Vanuatu under Cayman Islands Securities Investment Business Act (SIBA) & Virtual Asset (Service Providers) Act (VASP Act) and Bermuda Digital Asset Business Act 2018 (DABA) & Investment Business Act 2003. Key statutory authorisation classes include: Full Service / Market Maker Securities Dealer (Securities Investment Business / Investment Dealer (Full Service Dealer Including Underwriting) — min. capital: USD $50,000 (Seychelles FSA SD / Vanuatu VFSC Class A–D statutory bond) to MUR 10,000,000 (~USD $220,000 Mauritius Full Service Dealer) or USD $300,000+ (Bahamas SCB / Cayman CIMA / Bermuda BMA).); VASP / Digital Asset Business (Class F / DARE) (Virtual Asset Service Provider & Digital Asset Exchange / Custodian Licence — min. capital: USD $100,000 to USD $1,000,000+ risk-based capital depending on custody volume and exchange turnover.). Ongoing prudential supervision requires strict adherence to capital adequacy and liquidity buffers.
Does VFSC provide statutory investor compensation and mandatory client asset segregation?
Under VFSC's framework, investor protection is governed by Contractual Custody & Segregated Trust Accounts (No Statutory Retail Compensation Fund) with maximum coverage of EUR €0 / USD $0 statutory government compensation scheme (protection relies on segregated client trust accounts, minimum paid-up capital/bonds, and Professional Indemnity Insurance) (Global cross-border retail and institutional clients onboarded outside restricted onshore jurisdictions (US, UK, Japan, Canada typically excluded by terms of business).). For client money and custody assets, supervised firms must comply with CIMA Statement of Guidance on Client Assets / Mauritius Securities Rules / Seychelles Securities (Conduct of Business) Regulations, performing mandatory separation of client funds from proprietary operating accounts; periodic reconciliation audited annually. with client moneys must be held in designated client trust accounts at approved domestic or international commercial banks..
How does VFSC regulate digital assets, crypto exchanges (VASPs/CASPs), and stablecoins?
VFSC's digital-asset regime is structured around Cayman VASP Act, Bermuda DABA Class F/M & Bahamas DARE Act 2024 (Dedicated statutory digital asset licensing regimes used by top global institutional crypto derivatives exchanges, custodians, and tokenized funds.). Custody and AML/CFT compliance obligations require: Full FATF Recommendation 15 & 16 AML/CFT and Travel Rule compliance supervised via annual AML audits.
How can I verify an institution's VFSC licence number and check our 62 recorded licence entries?
Our database currently tracks 62 licence records referencing VFSC (25 marked regulated or registered). To verify a counterparty at the primary source, open VFSC's official public register (https://www.vfsc.vu/), search by the exact reference number and legal entity name, and confirm that the firm's domain and permitted activities match its statutory authorisation.
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Statutory licensing classes, base capital rules, and investor protection summaries for VFSC (Cayman Islands / Bermuda / British Virgin Islands / Bahamas / Mauritius / Seychelles / Vanuatu) are maintained for institutional benchmarking and do not constitute legal advice. Always verify current rulebooks and active firm authorisations directly on VFSC’s official public register.