Offshore financial service license, costa rica, panama where?

[JohnAlley]

I wouldl ike to know the requirements and how difficult it is to establish a Financial service licensed company in the following jurisdictions:

1. Belize
   
2. Seychelles
   
3. Costa Rica
   
4. Panama
   
5. BVI
   

Also what capital requirements there are and and overview of the costs or a simple indication of what the costs are, for instant in Cyprus it seems to be huge, 45k EURO establishing + EUR 500k paid in share capital that's too much for our investor group at the moment.

 

[JohnLocke]

General speaking and specific to Costa Rica I have found some great information you may have a read on here:


http://www.lexmundi.com/images/lexmundi/PracticeGroups/BankFinance/Survey1/Costa%20Rica.pdf


We are not able to help with the application for the license, you may ask the author of this document.

This is a Costa Rica registered SA or SRL corporation holding a license to engage in services such as: Payment Processing, Investment. The company can further engage in any lawful business which does not need license, but the license is specific to the activities listed above. The most usefull activity for most clients is the Processing of Payments. With this license, the company can demonstrate to any bank or other institutions and authorities, that the company is authorized to manage third party funds in its accounts.

 

[JohnAlley]

Thank you Admin, found some information about Costa Rica company formation and business setup on Google. Seems they don't have any strict laws in Costa Rica what so ever, http://www.ariaslaw.com/media/documents/COSTARICA-INGLES.pdf

 

[JohnLocke]

Panama seems not to be an popular place for financial services any longer because of stricted regulations during the last years. However, doing some research on the topic I found som interesting reading here


http://premieroffshore.com/international-money-lending-license/


If you can use it for something is up to you, maybe it can inspire you to find other information more relevant to the financial service license in Panama or to a different offshore jurisdiction.

 

[JohnLocke]

As for BVI the same as Panama it seems, things have changed during the last few years the requirements to share capital and ownership have change that much that it isn't of any benefit any longer to apply for a financial service license in the BVI unless you are a huge business with million of millions in turnover and profits.


Regulations have changed as of April 2015 More...

 

[JohnAlley]

Yeah, a few hous of research brings tou back to the originated destination Belize and maybe Costa Rica which two offshore jurisdictions seems to be the only left so far, to get a financial service license without big money and endless requirements to get setup!

 

[buzzoffshore]

You better look into the Special License company in the Seychelles as an alternatve to Costa Rica & Panama at least, /company-formation/seychelles-ibc/csl-company.html it may for most be sufficient to conduct their financial service company!

 

[JohnAlley]

You better look into the Special License company in the Seychelles as an alternatve to Costa Rica & Panama at least' date=' [url']/company-formation/seychelles-ibc/csl-company.html[/url] it may for most be sufficient to conduct their financial service company!

I don't read it to be the same as the Belize financial service license. We are into forex trading and investment services!

 

[blowfish]

I can say, at least forget about BVI and Panama they are not an option 2015 - you want to grab your Belize financial service license NOW and as long as you can before this solution get saturated and different government body's get their attention to it and finally restrict the access to such entities which then again will be priceless to own!!

 

[seat-my-business]

I agree with blowfish, if you are able to obtain a financial service license in Belize atm then do it if you need it, since with all the increasing international regulations and OECD making things complicated it's not going to be easier in the future. Personally I'm 90% sure I will apply for a complete setup during the next few weeks just to have it on stock and sell it once things get complicated!

 

[pimonte]

We are back to Seychelles & Belize when does someone suggest anything else then these two offshore jurisdictions?

 

[flofi]

One question that I wouldl ike to ask is: Does it matter what "financial service" one is going to offer? I mean, just because you are selling financial advises service it's not the same as providing forex trading services or investment schemes or other.. isn't there any differences in regards to requirements and all this?

 

[bonox]

If you ask me and if I had the money and was into this business I would look at it like this. Cyprus is no.1 but very costly to get setup, Seychelles is no1. has problem to be reliable towards investors etc. requires 1 million in capital & then Belize easy to setup, only 15k costs and a min. of 50k USD share capital - Finally we have Costa Rica which put them self into a position like Seychelles no one trust companies from there any longer and they are not accept to be valid towards banks and financial markets around the globe!

 

[lavel]

Belize financial service license is the only way to go so far if the budget is small and you want a fast way to get into the financial markets.

 

[warrior]

Belize and Costa Rica sounds good to me, Admin can you do Costa Rica corps or Belize only with financial service license?

 

[JohnLocke]

We recommend Belize financial service license at the moment for clients that don't have the required capital to establish their business in Cyprus or Malta! The requirements are not difficult to apply to and the capital requirements are a fraction to what it is in Europe i.e. Cyprus & Malta!

 

[buzzoffshore]

Does anyone has been through the entire process and actually got their Belize financial license for their financial service business or all just what you think is good?

 

[JohnAlley]

If you ask me and if I had the money and was into this business I would look at it like this. Cyprus is no.1 but very costly to get setup' date=' Seychelles is no1. has problem to be reliable towards investors etc. requires 1 million in capital & then Belize easy to setup, only 15k costs and a min. of 50k USD share capital - Finally we have Costa Rica which put them self into a position like Seychelles no one trust companies from there any longer and they are not accept to be valid towards banks and financial markets around the globe![/quote']
Belize is working prefect for this purpose 100K share capital and aprox 15K setup fees, that's pretty cheap and simple.