Government Issued Financial Licenses
Government Issued Financial Licenses
Government Issued Financial Licenses
There is more to doing business offshore than just finding a place to put your money. There are a number of jurisdictions and a number of possibilities for setting up financial institutions offshore.
Doing business offshore commonly involves finding the means to move money efficiently in and out of a tax advantaged jurisdiction. This typically involves a combination of an offshore foundation, corporation, and banking. This is not as far as an individual or corporation can go in taking advantage of the opportunities offered by various offshore jurisdictions.
It is possible to offer trust services, transfer money, trade Forex, trade other financial instruments such as securities, broker money, lend, exchange money, and run a brokerage, all offshore. A typical minimum setup cost will run around $27,000.
Available Government Issued Financial Licenses:
In order to offer these services you will need to set up shop in an offshore location and obtain Government issued financial licenses. With the services of competent counsel it is possible to obtain government issued financial licenses for any and all of the following:
Trust formation and management of offshore trusts and provision of trustee services license
International asset protection and management license
Money transmission services license
Trading in foreign exchange/Forex license
Trading in financial and commodity based derivative instruments and other securities - license (e.g. futures, options, interest rates, foreign exchange instruments, shares, stock, contracts for differences, etc.)
Money brokering license
Money lending and pawning license (personal or household unsecured, short-term loans in the range from USD$100 to USD$5,000 and must be paid back in less than one year at a maximum APR of 48%, plus different fees allowing a lot higher effective APR.)
Money exchange license
Safe custody services license
10. Accounting services license
11. Brokerage, consultancy or advisory services license
There are a number of jurisdictions for setting up an international financial entity and obtaining a government issued license. Working with someone knowledgeable in the field will no only help you choose the right jurisdiction but also which licenses to obtain. Working with an expert will help you set up your international business in a cost efficient manner.
In setting up and running an offshore financial entity you can take advantage of those with expertise by outsourcing a large part of the operation. The following is a list of services that can be easily outsourced to get an operation up and running.
Management services
Qualified nominee services. Certain of the above mentioned licenses would require qualified directors or staff. A competent company can assist in providing such services in the event you would not qualify for the application.
Initiation of the application process
Development and maintenance of web pages with sophisticated functions and design
Provision of necessary banking or financial software within the different areas you would apply for.
Competent structuring or your financial entity allowing low or no taxation using offshore structures and outsourcing facilities.
In the modern word of international commerce you may well have all of your customers and suppliers in countries outside of your home nation. The next logical step is to consider other offshore financial entities. Always consult with competent counsel when setting up an offshore financial entity.
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