Investment and FX

1. CanadaSecurities dealer, adviser (portfolio manager) or investment fund manager registration
   USD 18kCAD 25,000
2. AustraliaAustralian Financial Services Licence (dealing, advice, custody, managed investment schemes)
   USD 35kAUD 50,000
3. Labuan (Malaysia)Labuan securities licence
   USD 37kMYR 150,000
4. SingaporeCapital markets services licence (CMS), dealing in capital markets products and other regulated activities
   USD 39kSGD 50,000
5. SeychellesSecurities dealer licence
   USD 50kUSD 50,000
6. BahrainInvestment firm licence (Category 1 to 4)
   USD 66kBHD 25,000
7. AustriaInvestment firm licence (Wertpapierfirma); simplified licence for a Wertpapierdienstleistungsunternehmen under the MiFID II Art. 3 exemption
   USD 84kEUR 75,000
8. BelgiumAuthorisation as a stockbroking firm (beursvennootschap / société de bourse) or as a portfolio management and investment advice company
   USD 84kEUR 75,000
9. CyprusCyprus Investment Firm (CIF) authorisation
   USD 84kEUR 75,000
10. EstoniaAuthorisation of an investment firm
    USD 84kEUR 75,000
11. FranceAgrément as an investment firm (entreprise d'investissement)
    USD 84kEUR 75,000
12. GermanyInvestment firm licence (Wertpapierinstitut)
    USD 84kEUR 75,000
13. IrelandMiFID investment firm authorisation
    USD 84kEUR 75,000
14. ItalyInvestment firm (SIM) authorisation (MiFID II)
    USD 84kEUR 75,000
15. LithuaniaFinancial brokerage firm (investment firm) licence
    USD 84kEUR 75,000
16. LuxembourgInvestment firm authorisation (MiFID II)
    USD 84kEUR 75,000
17. MaltaInvestment services licence (MiFID investment firm)
    USD 84kEUR 75,000
18. NetherlandsInvestment firm licence (MiFID II)
    USD 84kEUR 75,000
19. PortugalInvestment firm authorisation (MiFID II)
    USD 84kEUR 75,000
20. SpainInvestment firm authorisation (empresa de servicios de inversion)
    USD 84kEUR 75,000
21. LiechtensteinInvestment firm authorisation (Zulassung als Wertpapierfirma); asset management company licence under the VVG for advisory and portfolio management firms that hold no client assets
    USD 84kEUR 75,000
22. GibraltarInvestment firm (Part 7 permission)
    USD 99kGBP 75,000
23. United KingdomMiFID investment firm (Part 4A permission)
    USD 99kGBP 75,000
24. Cayman IslandsSecurities investment business licence (and registered person status)
    USD 122kKYD 100,000
25. United Arab Emirates: Dubai International Financial Centre (DIFC)Licence for Managing Assets or Managing a Collective Investment Fund (Category 3C)
    USD 140kUSD 140,000
26. PolandAuthorisation to conduct brokerage activity as a brokerage house (dom maklerski)
    USD 168kEUR 150,000
27. MonacoCCAF agrément for financial activities (portfolio management, advice, reception and transmission of orders, custody, multi family office)
    USD 168kEUR 150,000
28. United Arab Emirates: Dubai International Financial Centre (DIFC)Licence for Dealing in Investments as Agent or Operating an Alternative Trading System (Category 3A)
    USD 200kUSD 200,000
29. Labuan (Malaysia)Labuan money broking licence (money and FX markets, optionally digital assets)
    USD 244kMYR 1,000,000
30. Qatar (QFC)QFC authorisation as an INMA firm (investment management, advisory, arranging, custody, agency dealing)
    USD 247kQAR 900,000
31. United Arab Emirates: Abu Dhabi Global Market (ADGM)Financial Services Permission for Managing Assets or Managing a Collective Investment Fund (Category 3C)
    USD 250kUSD 250,000
32. JapanFinancial instruments business registration (Type I and investment management)
    USD 316kJPY 50,000,000
33. JapanType I financial instruments business for OTC currency derivatives (retail margin FX)
    USD 316kJPY 50,000,000
34. United Arab Emirates: Abu Dhabi Global Market (ADGM)Financial Services Permission for Dealing in Investments as Agent or as Matched Principal (Category 3A)
    USD 500kUSD 500,000
35. Hong KongSFC licence for Type 1 regulated activity (dealing in securities)
    USD 637kHKD 5,000,000
36. AustraliaAFSL for issuing retail OTC derivatives (margin FX and CFDs)
    USD 694kAUD 1,000,000
37. SwitzerlandSecurities firm licence
    USD 1.8mCHF 1,500,000
38. Qatar (QFC)QFC authorisation as investment dealer (dealing in investments as principal)
    USD 1.9mQAR 7,000,000
39. United Arab Emirates: Abu Dhabi Global Market (ADGM)Financial Services Permission for Dealing in Investments as Principal or Providing Credit (Category 2)
    USD 2mUSD 2,000,000
40. United Arab Emirates: Dubai International Financial Centre (DIFC)Licence for Dealing in Investments as Principal or Providing Credit (Category 2)
    USD 2mUSD 2,000,000
41. Hong KongSFC licence for Type 3 regulated activity (leveraged foreign exchange trading)
    USD 3.8mHKD 30,000,000
42. SingaporeCMS licence for dealing in spot FX contracts for leveraged foreign exchange trading
    USD 3.9mSGD 5,000,000

Not charted (no statutory figure, or currency without a reference rate): Guernsey, Isle of Man, Jersey, United Arab Emirates (onshore), New Zealand, Philippines, South Korea, Antigua and Barbuda, Bahamas, Barbados, Bermuda, British Virgin Islands, Canada, Curaçao, Dominica, Panama, Mauritius, South Africa. See each jurisdiction page.

Statutory minimums from each regulator. Converted at ECB reference rates or official pegs of 2026-10-08. Log scale. These are legal minimums only: the regulator sets the capital each bank must actually hold, usually far higher, and it must be the shareholders’ own liquid funds.