Licensing

Offshore bank licenses

There are jurisdictions where it is possible to obtain bank licenses with a relative small investment.

In most cases, the clients opt for Class B license, meaning the bank is not allowed to conduct activities in the country where the license is obtained. But, most of the banks are international and this is not a significant disadvantage.

One of the best offshore banking licenses is from the US territory of Puerto Rico. The offshore banking license doesn’t offer the possibility to establish branches in Puerto Rico, but it is possible to establish branches in the continental USA or in other foreign country.

Even most of the licenses are Class B license, there is possible to obtain Class A license too, but the investment and procedures are more complex.

The Class A license allows the institution to engage in international banking activities with the general public, apart from the Class B license which has some restrictions.  Institutions with Class B License can use, accept funds and deposits  only from certain individuals, companies or groups, considered from own portfolio. Even in this case, the possibilities and activities are wide, like treasury management and financing for different international subsidiaries of group of companies.

Financial Companies license

Companies which offer different kind of financial services as trading with stocks, bonds and securities, usually called offshore brokerage companies or money exchange, trading with precious metals companies, money lending, money transmission services are considered Financial Companies.

Financial Companies need to be licensed, usually in tax advantageous jurisdictions.  We can recommend the proper jurisdiction based on each particular case.

Popular licenses are for E-money business, payment processing companies, money transfer business.

Most of the companies need also to offer debit cards, e-banking software and SWIFT/TELEX.

We can offer full assistance, the integrated solution including KYC and AML procedures.