Registration of
offshore companies
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Offshore Financial Licenses

Offshore Financial Licenses

2018-06-14
315

For entrepreneurs in the era of the development of the market of electronic currencies, the issue of organizing the work of not only service and processing centers, but also the creation of financial structures for the maintenance of cryptocurrency in offshore becomes relevant. To carry out such operations are issued special financial licenses.

What is meant by financial services

The definition of financial services is quite broad. It refers to any operations for the transfer of funds, issuance of loans and deposits, issue of payment cards. Provide such a service not only banks, but also organizations that have the right to dispose of other people's money. As such, various holdings are considered, attracting the investments of several companies and individuals for qualified turnover management and capital protection.

Not all large holdings are entitled to organize their own financial company or bank. For this, it is necessary to go through complex stages of capital confirmation, fulfill all legal requirements, obtain a license in accordance with the procedure established by the law.

Where better to organize a company

Most often, to obtain a financial license, they turn to Belize offshore. The cost of obtaining permission is divided into the following points:
• Company with the right to transfer funds - the amount of $ 50 thousand;
• Service for the regulation of payments - the authorized capital of at least $ 50 thousand;
• Processing of FOREX currency transactions - funds in the amount of more than 75 thousand dollars.

It is necessary to distinguish the list of services that will be carried out under a license. For example, the issuance of deposits or currency exchange refers to different types of financial activities. The same goes for issuing payment cards or prepaid. Perhaps on the basis of permission to create a captive bank, that is, created with reference to a specific corporation or holding.

Why offshore is for a license?

Cryptocurrency companies more often choose to obtain permission to provide financial services in offshore for several reasons:
• starting a business will be much cheaper than in Europe;
• the possibilities are the same as when obtaining a license in other jurisdictions;
• work with a well-established industry.

Today, offshore jurisdictions are quite demanding about the status of potential clients, a thorough check of the legal basis of the activity is being carried out. For example, to operate a company in the Dominican Republic and obtain a license, it is necessary to comply with such requirements as finding a representative office in the country, interacting with an authorized agent in the country, obtaining permission to change the address.

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