Every founder asks the same first question: what will the license cost me? The honest answer is that the license fee itself is usually the smallest number on the invoice. The real budget is the sum of incorporation, regulatory capital, local agents, compliance staffing and annual renewals. Here is how the main routes compare in 2026.
·Incorporation-only routes: Saint Lucia and SVG
Many new brokerages don't start with a securities license at all. An incorporated IBC in Saint Lucia or Saint Vincent & the Grenadines is accepted by most platform, liquidity and PSP providers for early-stage brands serving international clients. Expect a total setup in the $6,500–$10,000 range including registered agent and banking-ready documents, with incorporation completed in 7–10 days on fast-track routes.
·Seychelles Securities Dealer License
The most popular 'real license' for new brokers. Budget roughly $35,000–$60,000 all-in for the first year:
- Application and government fees
- Minimum paid-up capital (USD 50,000)
- Local office, director and compliance officer requirements
- Legal drafting: business plan, AML manual, risk framework
·Mauritius Investment Dealer License
A step up in institutional credibility, and in cost. First-year budgets typically land between $60,000 and $100,000 once capital (from ~USD 25,000 depending on category), local substance and the FSC process are included. Timelines run 4–8 months.
·CySEC (Cyprus Investment Firm)
The EU passport. Minimum capital from €75,000 to €750,000 depending on scope, plus local directors, compliance and internal audit staffing, office space and a 6–12 month application. Realistic first-year budgets start around €250,000. It's a serious commitment that makes sense once your brand and flow justify EU marketing rights.
·The costs nobody mentions
Whatever route you choose, budget for annual renewals, audit fees, registered agent fees, and — the big one — corporate banking. A license without a bank account is a certificate on a wall. This is why we treat banking, licensing and structure as one project, not three.
Want a number for your specific model? Send us a WhatsApp message with your target markets and we'll give you a realistic all-in budget — before you spend anything.