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Formation of a Bank, Bank License, | ||||||
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Provision of Financial Services - Formation of a Bank - Bank License
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Provision of Financial Services - Formation of a Bank - Bank License
We form companies with a bank for our clients - and/or financial
services license, i.e. asset management companies, primarily in the
following countries:
· Sweden
(Swedish Credit Union)
· Panama
(Panama AG with Financial Services License)
Services Bank License- Offshore Bank License:
The licensing prerequisites differ greatly from country to country, in
particular with regard to required capital stock of the bank and/or
asset management company. The basis is, as a rule, the installation of a
stock corporation according the respective laws of the country in which
the company is registered, in addition the installation of an ordinary
company seat in the country in which the company is registered. This
stock corporation applies for a financial service provider and/or bank
license. An excellent alternative can be a
New
Zealand Bank.
A New Zealand Online Bank (correct term: New Zealand financial service
provider with a banking license) both private persons and companies can
offer bank services via the Internet without any restriction on customer
numbers, deposit amounts or the number of currencies.
The fees for the foundation of a bank and/or asset management company
are based on the country in which the entity is registered and the type
of services. To learn more please refer to the individual web pages.
Tax Structure
In addition, in the formation of a bank or asset management company tax
structuring plays an important role. We take over tax structuring within
the scope of the "affiliated companies", for example foreign parent
company and domestic subsidiary, formation of a foreign holding to
collect domestic dividends exempt from taxes and many more.
The Correspondent Bank (Correspondent Bank Account)
We are the only provider in Europe to provide a connection to
correspondent banks in Liechtenstein, Switzerland, Singapore or UAE.
Banking Software Online Banking
We offer our clients NexorOne online banking software for example:
within the scope of the formation of a New Zealand financial services
provider company with a license for banking services, installation of an
asset management company and/or Swedish Credit Union. The full version
of the software provides complete online banking services, it is however
only available in English.
-Bank License USA and Switzerland:
License fees, attorney fees: approx. 150,000.00 Euro/ USD
Capital Stock: approx. 5 Mil USD/CHF, depending on the country in which
the company is registered. USA: 10 Mil. USD at the FED.
The formation of a US INC and/or Swiss AG as the bank company with the
capital stock of the bank is required.
The directors/general manager must have an education in banking
(for example: banker) and experience in the management of a bank.
A nominee director is not possible, accordingly the client would have to
move his principal residence to the country in which the company is
registered and/or hire a Director who resides in the country in which
the company is registered. Further license requirements are similar to
those in Germany, this includes among other things a viable business
plan, profit and loss calculation for the first three years, General
Terms and Conditions of the bank according to the statutory provisions,
becoming a member of the investment guarantee funds, required insurances
etc.
In addition to the basic foundation and license fees, the following
costs can also be relevant:
· Preparation of the General Terms and Conditions (T&Cs), agreements
between customers and bank, credit agreements
· Homepage of the bank, Online-Banking-System
· SWIFT Code, IBAN, international payment transactions, electronic
communication channels and interfaces
· Connection to credit card providers, Visa-MasterCard etc.
The basis is the German Banking Act Section 32 Article. 1 et seqq. [KWG,
German Banking Act]. We accompany our clients from conception to the
licensing of the bank (Federal Financial Supervisory Authority, Bafin).
The fees are based on the "type of financial services" and the required
services we provide. Accordingly we provide the formation of "the
company of the bank", as a rule a German AG [Inc.], the provision of
banking software and "tax optimization" measures.
In addition to the basic foundation and license fees, the following
costs can also be relevant:
· Preparation of the General Terms and Conditions (T&Cs), agreements
between customers and bank, credit agreements
· Homepage of the bank, Online-Banking-System
· SWIFT Code, IBAN, international payment transactions, electronic
communication channels and interfaces
· Connection to credit card providers, Visa-MasterCard etc.
-Financial Service Panama:
We offer you the company form of a Panama S.A. with a license to collect
and administer (invest) customer assets.
With this service we make it possible for you to offer classic
asset management or financial services without banking hours and
teller's windows, with all licenses for trustee management of client
moneys.
-Swiss Credit Union:
A Swedish Credit Union
can legally offer services in the EU, which can normally only be offered
by fully licensed banks, such as accepting deposits, making loans, etc.,
as long as these services are provided exclusively to members of the
Credit Union. A potential customer can become a member automatically, if
he/she wants to open an account, applies for a loan or take advantage of
any other service provided by the Credit Union. However the legal
situation has changed in Sweden due to EU level provisions: Members of a
Swedish Credit Union must now belong to one specific profession / group
of professions and may only be natural persons.
-New Zealand Financial Service Company with Bank Services License
A New Zealand financial services company with license for bank services
can offer services to private persons and companies globally without
restrictions on the number of clients, the deposit amounts or the number
of currencies. However the laws of countries, in particular the German
Banking Act [Kreditwesengesetz (KWG)], must be observed under this
constellation.
The New
Zealand Bank can provide almost all services, which can be offered by
banks with A License, however the word „Bank“ may not be apart of the
name. The service activities of a financial company are as follows, but
are not restricted to the same:
The company is not subject to the provisions regarding the creation of capital reserves. Directors and shareholders can have any nationality their residence can be in any country.
-Offshore-Banks Belize and Cayman Islands
Offshore Bank Cayman Islands
In particular, the Cayman Island is an interesting location for the
formation of a bank with an A license. The stock capital is approx
CI$400,000. The bank acts as a Universal Bank with its own IBAN,
SWIFT Code etc. and may offer all bank services. First a stock
corporation is formed on the Cayman Islands as a company of the bank.
This stock corporation then applies for a bank license from the
government agency. A qualified business operation is required on the
Cayman Islands, a fully furnished office with at least one employee. An
office building with "Teller Windows" can be opened. It is true that the
bank cannot act as a bank in Germany in terms of a German bank (compare
German Banking Act [KWG]), however such bank is very attractive for
international transactions with natural persons or legal entities from
other countries. Clients, that form this type of bank, usually have
clients/investors from Middle America, Russia etc. With regard to the
management of the bank one person is required, with a recognized banking
education and experience in the banking field. A Nominee solution is not
possible. The general manager of the bank must be a resident of the
Cayman Islands. Such that either the client or a representative moves
his/her primary residence to the Cayman Islands or hires a General
Manager who resides in the Cayman Islands. The licensing process takes
approx. 3 months. The fees are based on the services and are at least
120,000.00 Euro plus state fees. We can create an Internet presence with
online banking software for the bank. The banking software costs between
14,000.00 and 65,000.00 Euro, depending on functionality. We will
provide a corresponding provider. Office space can be selected in
advance; we will provide you with a Cayman Islands real estate agent.
Our German attorney can accompany you to the Cayman Islands in exchange
for commensurate fees.
Offshore Bank Formation Belize
We can realize bank formation (A-License) in Belize by means of our
cooperation law firm in Belize. Information can be requested from the
competent government agencies / central bank:
BELIZE
Central Bank of Belize
http://www.centralbank.org.bz/
Attorney General Ministry
http://www.belizelaw.org/
In this case a stock corporation with a place of business in Belize is
formed as the company of the bank. The formation fees are based on the
services, they amount to approx. 70,000.00 Euro plus government fees.
Upon request we can provide full services in collaboration with the
cooperation law firm located in the country in which the company is
registered:
-Bank license application, submission of all applications to the
competent authorities, direct communication with the competent
government agencies
-Homepage of the Bank
-Online Banking Software
-Pre-selection of suitable offices space
-Visa application, residence permit
