Hi James,Dear All,
We do have clients they are looking to build a competitive EMI .
how EMI and other digital IBAN services work?
What kind of licenses?
which is the best jurisdiction?
Switzerland is not EU member . Switzerland is useless for offering financial services in EU as swiss financial services have NO ACCESS to offer or market financial services in EU. The Swiss are forced to open subsidiaries in the EU to offer financial services. There is NO passporting of Swiss financial services to EU.LT, UK and CH are the probably in 'regulatory light' area's.
If you want to setup a 'general' EMI, I fully agree with you. However that space is quite crowded and finding a niche there is difficult.Thanks Milky Moon for breaking it down.
Like I said Swiss financial services are a waste of time for use if you intend to market to clients in EU. You can try your luck using it for other countries outside the EU. Just don't step foot in those countries if you do so as it is most likely they will arrest you if you have not done your homework on local laws.
James, evey time you'll step into EU jurisdiction you'll end up facing those figures. BTW, the required minimum capitalization it's only 125K. Problem is that you'll be asked to show some additional capitalization/structure that's why at the end...you should probably take into account approx 3x to 4x to start your job.so the approximate cost is 800K to 1 million Euro ?????
if we choose Lithuania? how the approximate cost?
Actually offering services like leupay or others ( I don't see why leupay is still a reference because there is way better emi's) is not worth.OK Guys,
all those information very very useful, but really we have tried many services offering EMI. 80% they are sucks.
very bad service and bad reputation. if there are many such companies thats mean it is easy to make and build.
we want to work on something very advanced. Thats why it would be great if you share your ideas here or personal massage?
Please tell us about high risk market?
do your homework before you say this is not difficult! not to speak about the costs, staff and all other you have to bring to the table in order to get that thing started! ouchWich is not difficult, will you be ok to work at 0 margin or minus?
Hello Milky Moon. What do you think about to setup an offshore bank (IFE), in Puerto Rico?for LT, a bank license is about 1 mio, an EMI license.
Lithuania Online Bank License – march 2017 update | OffshorePremium.com
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If you have a fixed set of clients you might also investigate a Swedish Credit Union, when dealing with crypto, this offers nice 'benefits' also: Credit unions of Sweden | <<snippet>>