Yes, although depending on your activity, you may need a license. Hence, it is very important to understand the activity of your company. There are, generally speaking, two scenarios:

Scenario 1

Your company is going to perform one or more of the following activities by itself:

  • Foreign currency exchange (or forex)
  • Providing investment advice to clients
  • Performing borrowing or lending operations
  • Performing Leasing transactions
  • Money broking or acting as a broker
  • Offering monetary guarantees or commitments
  • Performing transactions or acts related to the issue and sale of securities
  • Offering services of safekeeping and administration of securities
  • Acting as a savings and loan association

In that case, you need the FFA license. In this scenario, it’s considered that the activity is being performed by the company, not by means of external brokers. If you are performing money broking activities, but just for your company, and through an external broker, you are in scenario 2.

Scenario 2

In this scenario, your company is not performing any of the activities mentioned before by itself. It’s using an intermediary, broker or agency with the proper license. In that situation, you don’t need the license.

Here, it is key that your company is doing these activities for itself, not for other customers. If you are offering foreign exchange services to other customers, even if you use a broker, or you are offering financial advice, you should get the license in order to avoid problems with the financial authorities.

What license do I need and how much does it cost?

If the activities of your company fall in scenario 1, you need the FFA license.

in Requisites and conditions


  1. Mario Kendy Miyasaki
    June 8, 2020 at 6:22 am – Reply

    Good Morning! I am an E-Residency and I live in Brazil, I have had my card for about 1 year. I am interested in hiring a freelance to assist me in investments in Startups, ETFs, shares or even some small initial project, if possible they can contact me by email. Thank you

    • Tu Empresa En Estonia
      June 8, 2020 at 11:57 am – Reply

      Thank you for contacting us Mario. Please, kindly fill in our contact form and our support team will be happy to help you. Cheers, 🤗

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