Help on EMI setup

Btraveler

Building Trust
Entrepreneur
Hello there,

I was wondering which steps are necessary to open an little EMI which can work global but with the lesser requisites. I've seen, for example, that Payeer uses a Vanuatu Financial Services license, which I assume maybe is easy to obtain and so.

A colleague wants to start with it and I want to help him on the legal and banking issues. Thank you in advance, every help will be appreciate
 

GiGoGo

I make things happen
Business Angel
Mentor Group
Hello there,

I was wondering which steps are necessary to open an little EMI which can work global but with the lesser requisites. I've seen, for example, that Payeer uses a Vanuatu Financial Services license, which I assume maybe is easy to obtain and so.

A colleague wants to start with it and I want to help him on the legal and banking issues. Thank you in advance, every help will be appreciate
With wich budget?

Cook islands is a good destination
 

GiGoGo

I make things happen
Business Angel
Mentor Group
Hello @GiGoGo Which is the price on there? Vanuatu is about 40K $ to be paid to Vanuatu government. I'm looking for a cheaper solution
Difficult to find anything cheaper and reliable. For Cook Island includes trips there to talk with the regulator, after that they can be quite flexible on the terms
 

Sols

Trusted Member
Business Angel
Before you base your decision on finding the cheapest jurisdiction, consider the pros and cons of actually operating an EMI. You need to find partner banks and the worse your license jurisdiction, the harder it's going to be.

An EMI that can't actually access the global banking system is pretty useless.
 

Gediminas

Offshore Tax Advisory
Business Angel
Mentor Group
Commercial Service
Like your buddies at Pervesk? :rolleyes:
Yes, Pervesk would be one of the options, but I suppose you could find something cheaper as well. And they are not my buddies. ;)
 

moneynetwork

Corporate Services
Business Angel
Mentor Group
Commercial Service

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