Offshore Bank License
- Thread starter kalikex
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Splitting this from the thread about EQI Bank.
That's then followed by:
- Raise enough money (usually a few million USD, but less can work).
- Pick a jurisdiction.
- Build a team.
- Apply for license (hire a local law firm to help you).
- Go through license process.
- Get a banking license.
That's then followed by:
- Try to get correspondent bank accounts.
- Try to get correspondent bank accounts.
- Try to get correspondent bank accounts.
- Try to maintain what fragile correspondent accounts you have.
- Lose correspondent account.
- Try to get correspondent bank accounts.
- Try to get correspondent bank accounts.
- Try to get correspondent bank accounts.
- Try to maintain what fragile correspondent accounts you have.
- Lose correspondent account.
What you forget is that you need a lot of capital to start a bank. In most European countries, the capital required is about 10 million euros - in addition, there are huge demands for buildings, staff, training, regulations, etc. - the fact that you can pay for a license that may only cost (guess) 50,000 EUR is not enough - it is far from the goal.
But okay, none of us here know if you actually have maybe 30 or 40 million euros. It has been seen before, they have also been found on this forum before, as unlikely as some would say but︀ true.
But okay, none of us here know if you actually have maybe 30 or 40 million euros. It has been seen before, they have also been found on this forum before, as unlikely as some would say but︀ true.
Dominica is a joke of a jurisdiction for getting a bank license. You just funnel money in fees & miscellaneous costs (aka bribes) until you don't have any more. It's a corrupt jurisdiction and almost worthless for banking endeavours.
Also, you would still need at least $2M in capital and at least some professionality (don't want to offend, but your writing style isn't too great).
There are better jurisdictions where you don't need to pay off every government worker to get the process started. Regardless, you'll still need a solid $100K in costs︀ or fees, and at least $1M (on the low end) for your license to be︁ granted.
Also, you would still need at least $2M in capital and at least some professionality (don't want to offend, but your writing style isn't too great).
There are better jurisdictions where you don't need to pay off every government worker to get the process started. Regardless, you'll still need a solid $100K in costs︀ or fees, and at least $1M (on the low end) for your license to be︁ granted.
I've been waiting for this type︁ of review. Also, the Kingdom Bank is licensed in Dominica, but their fees are quite︂ aggressive as they expect to cover all costs from one customer. Thanks for understanding my︃ English writing; I write without Grammarly. Otherwise, I use professional English, but in forums, I︄ stick to regular fluent English. Could I have your contact information as well? cover all︅ cost from one coustmer also thanks for my english writing i write without grammerly else︆ i use professional english but in forum i just done with normal fluent english can︇ i have your connectin also ?
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