OffshorePremium team has years of experience in applying and obtaining financial services licenses such as Bank Licenses, Forex Licenses, and Payment Service provider licenses whether offshore (Belize, Mauritius, Saint Lucia, Commonwealth of Dominica) and or in the European Union (Bulgaria, Cyprus).
Is a Bank expensive to set up? Take for example the case of St Lucia. In this country a Class B bank license only require a 250,000 USD paid up capital. The government fees are 15,000 USD. If you include the capital, the legal fees, government fees, software fees and other expenses you can get started with a budget of around 400,000 USD. Now on the other hands I have seen investors spending 400,000 USD up to 1,000,000 USD to open a restaurant in Thailand a country where investment are deemed cheap.
Is a Bank a risky business? According to Smart Money.com, the three-year failure rate for new banks is less than one in 1,000 which, compare with a 60 percent failure rate for new restaurants.
WATCH OUR TV INTERVIEW ON | HOW TO OBTAIN A BANK LICENSE?
Is it complicated to incorporate a bank? Applying for a bank license will requires some efforts and commitments from your part. Also you or your director team need to have previous banking experience otherwise you will fail. But if you have experience in this sector we can assist you to obtain a bank license in as little as 6 months
Why apply for a Bank license? First reason is of course to run a bank business but the point is that not all of our clients want to do this. Having your own bank can for example grant you access to the international marketplace for your capital raising activities; help you to create your own banking instruments such as bonds, securities, etc., providing the necessary deposits are made, grant yourself or your companies your own loans and mortgages, an excellent way of legally moving your profits offshore and reducing the tax consequences. You could even have the bank seize your own assets before your creditors do so…
Why do you need a forex license? Forex business is one of the two online businesses where you find the most operators doing business illegally without the proper required licenses, so why should you bother to apply for a license.
- Because opening a corporate account or a merchant account for an unregulated forex business is more and more difficult and many unregulated companies are now facing trouble because banks are closing their accounts
- Because being able to claim on your site and with your clients that you are properly licensed will give you an edge on your competitors who are not.
WATCH OUR TV INTERVIEW ON | HOW TO OBTAIN A FOREX LICENSE?
Is it difficult to get a license for forex services? Difficult not, but the fact is that as for a bank license and even in offshore tax haven you will not obtain a forex license without a minimum capital investment and without committing you to the process seriously. The promoters will be subjected to a due diligence and will have to provide proof that they
- Do not have criminal records.
- That they have previous experience into the forex business
- That they have good moral ethic and behavior
So it is doable but you need to commit yourself to the process. Of course we will do our best to facilitate the process.
Read More About Forex and Bank Licenses
For more information about forex and bank please read on our posts on the subject by clicking the link below
For more questions you can contact me at [email protected]