Looking for Offshore Financial Service License

[agexus]

Hello,

We are in the middle of a startup launch related in the fintech industry and we are having a lot of trouble to find a jurisdiction for incorporating and applying to a financial service license without large capital requierements. We are not in the forex business we just need to be able to receive deposits from third parties.

Any suggestions?

 

[lavel]

It has been complicated since the beginning of last year! Belize, Cyprus, Ireland and Scotland were some of the best jurisdictions with low capital requirements in the past.

 

[Internationaloff]

Hello,

We are in the middle of a startup launch related in the fintech industry and we are having a lot of trouble to find a jurisdiction for incorporating and applying to a financial service license without large capital requierements. We are not in the forex business we just need to be able to receive deposits from third parties.

Any suggestions?

Belize

 

[hofo]

What's the costs for a Belize company with financial license just roughly estimated? I heard and read $25000 in total was it in the past!

 

[Internationaloff]

What's the costs for a Belize company with financial license just roughly estimated? I heard and read $25000 in total was it in the past!

What kind of Finalcial License?

 

[hofo]

Looking into a service like WorldCore.. creating a wallet solution.

 

[Internationaloff]

PAYMENT PROCESSING SERVICES

 

[agexus]

Belize

But in order to receive third party funds can any of the low capital requierement licenses work? I know that for Forex you need a 500,000 USD capital.

 

[hofo]

But in order to receive third party funds can any of the low capital requierement licenses work? I know that for Forex you need a 500,000 USD capital.

yeah that is what I have read is standard for Forex trading, payment services and similar financial services.

 

[Internationaloff]

But in order to receive third party funds can any of the low capital requierement licenses work? I know that for Forex you need a 500,000 USD capital.

There are 11 types of Financial License in Belize.

 

[Internationaloff]

Types of Financial License and Minimum Paid-Up and Unimpaired Capitalisation.
INTERNATIONAL ASSET PROTECTION AND MANAGEMENT: Capital USD 25,000.00
MONEY TRANSMISSION SERVICES: Capital USD 75,000.00
PAYMENT PROCESSING SERVICES: Capital USD 75,000.00
TRADING IN FOREIGN EXCHANGE: Capital USD 500,000.00
TRADING IN FINANCIAL AND COMMODITY-BASED DERIVATIVE INSTRUMENTS AND OTHER SECURITIES: Capital USD 500,000.00
MONEY BROKERING: Capital USD 75,000.00
MONEY LENDING AND PAWNING: Capital USD 75,000.00
MONEY EXCHANGE: Capital USD 75,000.00
SAFE CUSTODY SERVICES: Capital USD 50,000.00
ACCOUNTING SERVICES: Capital USD 25,000.00
BROKERAGE, CONSULTANCY OR ADVISORY SERVICES IN ANY OF THE ABOVE SERVICES: Capital USD 50,000.00

 

[hofo]

PAYMENT PROCESSING SERVICES: Capital USD 75,000.00

And what else is involved if you don't mind to elaborate? what are the costs for setting up the company, office etc.? any link to anything that pin point each requirement?

 

[Internationaloff]

And what else is involved if you don't mind to elaborate? what are the costs for setting up the company, office etc.? any link to anything that pin point each requirement?

Belize IBC, Local Nominee Director, IFSC Application fees, Bank Introduction, Annual License fee, Minimum Paid-Up Unimpaired Capitalisation.

 

[hofo]

Belize IBC, Local Nominee Director, IFSC Application fees, Bank Introduction, Annual License fee, Minimum Paid-Up Unimpaired Capitalisation.

What's the costs for this, typically? $ 5k 10k or even more?