Offshore Bank License
- Thread starter kalikex
- Start date
- Status
Be careful taking recommendations from members, especially if they can't mention the names in public. Very few companies are actually competent enough to handle a bank license application.
You've said you can't raise a few million USD for funding, so why are you even looking into this? You can technically get a license with just a few hundred thousand of funding but it'll be a dead, pointless bank that can't operate.
You've said you can't raise a few million USD for funding, so why are you even looking into this? You can technically get a license with just a few hundred thousand of funding but it'll be a dead, pointless bank that can't operate.
We have some ready made licenses for sale (EMIs and Banks), if you/your director has solid experience in operating financial institutions and have substantial budget feel free to get in touch.
Can you say why you want the license as there are numerous options on taking deposits etc but far, far less on offering debt.
Certain structures can open accounts with large banks and act as the Trustee for their clients if that structure is regulated to provide KYC and AML.
Certain structures can open accounts with large banks and act as the Trustee for their clients if that structure is regulated to provide KYC and AML.
Client or clients? I'm not sure what the second part of the sentence means but if they pass the KYC & AML and the need is just for deposits, disbursements and payments it's not such a big problem. A CT structure with European regulatory cover for the compliance is your cheapest option.
Then I stand by what I said, from what you've said and that's not a great deal, you could set up a European regulated company that is allowed to do KYC and AML. A structure that allows you to act like a bank, even call yourself bank, have an an account with a custodian bank, take deposits and offer disbursement and payment services. You don't have to jump through hoops to be regulated/approved and as long as you stay in your lane and don't go beyond the remit and attempt︀ to become the next Wise, you can operate very easily with this set up.
All for under 200,000 GBP.
All for under 200,000 GBP.
No. It has nothing to do with what I do. I'm aware of the structure because we use it for our own clients.
- Status