License / bank account / offshore jurisdiction for ecurrency exchange service

[msatm]

I am planing to open ecurrency exchance service,so I would like to know which country/island offshore IBC jurisdiction is best for that and which need and which dont need license for doing such type of business?


Also which country offshore bank accounts are best for IBC,I mean that will accept this type of bussniess,couse I speak with some agents and they told me that is nearly impossible to open bank account for this purpose.


I would like to know which offshore banks jurisdictions are favorably and with lowest fees?


Or if you have your own expirience or suggestions I would like to hear it?


PS.


Couse I think,if I run this like person in my own country,without license couse the law doesnt "know" of such license would that be illegal?

 

[JohnLocke]

I am planing to open ecurrency exchance service,so I would like to know which country/island offshore IBC jurisdiction is best for that and which need and which dont need license for doing such type of business?

You will need a license for such activity at least if you need offshore banking as well, so you may look into the Seychelles Mutual Fund.

Also which country offshore bank accounts are best for IBC,I mean that will accept this type of bussniess,couse I speak with some agents and they told me that is nearly impossible to open bank account for this purpose.

If you don't have a license it is impossible to do it legally, thats why most accounts are frozen and people scream because they open accounts and don't tell the truth.

I would like to know which offshore banks jurisdictions are favorably and with lowest fees?

Cyprus banks have one of the lowest fees in regards to offshore banking, just a fact if you like it or not. Alternatives are Swiss or Seychelles banks.

 

[JohnLocke]

Couse I think,if I run this like person in my own country,without license couse the law doesnt "know" of such license would that be illegal?

Don't do that, if you get cought it will hurt.

 

[msatm]

You will need a license for such activity at least if you need offshore banking as well, so you may look into the Seychelles Mutual Fund.
Couse I see alot of exchangers,doing this about 5/6 years in Ukraine,Vieatnam some of them China also,what I mean is accept Western Union on their names and I sure that amount of money monthly received is bigger then 15k $ and they are doing this like I said 5 years and noone of them is closed so far,I am asking how is that possible?


If you don't have a license it is impossible to do it legally, thats why most accounts are frozen and people scream because they open accounts and don't tell the truth.


Cyprus banks have one of the lowest fees in regards to offshore banking, just a fact if you like it or not. Alternatives are Swiss or Seychelles banks.

Don't do that, if you get cought it will hurt.

It is not clear to me,what charges I will face?


And most of them are still running without offshore company so that means personally and receive money on their own bank account im country where they are residence but still running and they have no problems with law,how is that possible ?


Can you tell me what are the approximately fees that your company offer in Cyprus for sending/receiving $ on IBAN/SWIFT on monthly/yearly basis,what are the limits on monthly/yearly basis,do they issue debit cards if they do what are daily/monthly/yearly ATM withdraw limits and fees?And ofcorse do they accept this type od bussnies ( exchaning ecurrencies ).


Btw you mention license?Is license required for Seychells IBC or not?


And is Seychells Mutual Funds same like IBC,if no what is the diffrence?


What is the solution that you offer for me and approximately the cost of it,if you can post it here.

 

[SHAHDAD]

Dear Sir


I want to incorporate an IBC in Seychell and get needed softwares for a forex broker but not working as a forex broker , acquiring clients or accepting funds But trading with my own fund. As I have read in your forum , this way I don't need a brokerage license or regulation . But what about the banks? Do they open a bank account for me?


Regards