Company Formation, Formation of a Bank - Bank License - Asset management company, FINANCE COMPANY (OFC) NEW ZEALAND
   

 Bank License- New Zealand OFC (Finance Company)

Network of international attorneys and tax counsel

Index Contact us About us    
spacespace
 
 
 
 
German Page
 
Beware of cheap founders!
Contact us
About us
Worldwide Registries
Limited Complete
Limited Formation
Bank Account
Virtuell-Office London
Dubai Company Formation
Liechtenstein Company Formation

Company formation in the USA

CYPRUS FORMS OF COMPANY
SWITZERLAND
Danish Holding
Germany
Isle of Man
The Canary Islands Special Zone
Panama Forms of Company
British Virgin Islands
Bahamas
CAYMAN ISLANDS
Nevis
Hong Kong
Gibraltar
Belize
Jersey
Seychellen
Singapore
Trust
Foundation
Our services and fees
Feedback
Contact us
 
INTERNATIONAL BROKERAGE and CLEARING HOUSE LICENSE
OFFSHORE FINANCE COMPANY
Banking Licence Nevis
gambling licenses
Yacht Registration
 

Formation of a Bank - Bank License - Asset management company:  New Zealand OFC (Finance Company)

 

OFFSHORE FINANCE COMPANY (OFC) NEW ZEALAND

Most jurisdictions impose heavy regulation on the banking sector and entry requirements are often designed to discourage the establishment of new banks. One refreshing exception is New Zealand, a highly respected jurisdiction with a modern legal framework and rated the most business friendly nation in the world by the World Bank in 2005. Banking services can be offered in and from New Zealand by different types of entities, including but not limited to Registered Banks, Finance Companies, Credit Unions and Building Societies. We focus on the New Zealand Finance Company which is not subject to supervision by the Reserve Bank of New Zealand and yet entitled to offer banking services to its individual and corporate customers worldwide. With your own banking business you are legally able to engage in activities such as:

  • -Deposit taking and lending

  • -Offering of securities

  • -Issuing of financial guarantees

  • - Cash management services

  • -Payment services

  • -Current accounts

  • - Checking accounts

  • -Savings accounts

  • -Term deposits

  • -Certificates of deposit

  • -Wire transfer services

  • -Credit and debit card services

  • -Marketing investments

  • -Share brokerage

  • -Fund Management

    We offer a complete service package including:

  • -Finance Company entitled to offer financial services

  • -Certified Company documents and Company seal

  • - Registered office and resident agent

  • -All relevant government filings

  • -Registration of securities

  • -Approved Issuer Status

  • - Eurowire membership and setup fee

A new Finance Company can be legally formed and registered in as little as 72 hours (not including additional government filings). A Company name can usually be secured within 12 hours. The Company is required to have a minimum of one director and one shareholder. Directors and shareholders can be of any nationality and resident anywhere in the world. The Finance Company cannot offer securities to the public of New Zealand without a registered prospectus, a supervisory trustee and the use of investment statements as per the requirements of Part II of the Securities Act 1978. The Finance Company is not subject to such requirements if services are offered to clients outside New Zealand only.

Regulation

Although the structure is not subject to Central Bank daily supervision and regulation, its activities are regulated by several acts. The New Zealand Securities Commission has posted Corporate Governance principles that apply to their business entities as well as legislative acts for banking operations. The relevant acts follow: Bills of Exchange Act 1908, Cheques Act 1960, Companies Act 1993, Consumer Guarantees Act 1993, Credit Contracts and Consumer Finance Act 2003, Electronic Transactions Act 2002, Fair Trading Act 1986, Financial Transactions Reporting Act 1996, Investment Advisers (Disclosure) Act 1996, Personal Property Securities Act 1999, Proceeds of Crime Act 1991, Property Law Act 1952, Reserve Bank Act 1989, Securities Act 1978, Unclaimed Money Act 1969.

FSP Laws

Nexor One

The NexorOne™ Online Banking System is a entirely online account manager for pooled funds. It generates messages to the administrator transmitting the instructions from the users. With a user friendly menu and thoroughly tested, completely self customizable interface the software provides a solid platform allowing your customers to feel confident that they are backed by a stable institution. Making use of every available advantage of the internet and online banking, the system gives the users the ability to execute every kind of transaction and use all the services offered by the financial institution on a cross-browser compatible interface. It makes it the perfect tool to have a low cost interaction with customers, while still able to tend to all their needs. The users are able to transfer money in/out/between accounts and to debit cards (optional).

By safely empowering the users to request transactions online, assisted by the system, the administrator has only to accept or cancel operations while viewing on screen all the information needed to take the decision. Since all the transactions are performed through the system only, the accounting and detailed customizable reports are always in real time and up to date. Additionally, the system keeps a detailed trail of all activities, making it very easy to narrow down precisely when those activities occurred. The system can automatically generate revenue by applying customizable transaction fees predefined by the administrator. The system offers the ability to handle accounts in different currencies, as well as a multi-language capable interface to expand to distinct international markets and the multi-region friendliness for defining all the different formats.

Online banking system for account management and secure messaging with customers


Interfaces and Options:

Main features the Administrator is able to access:

  • System messages – Generated when the users request certain transactions, automatically processed and replied to when executed by the administrator. These transactions require individual attention for completion.
  • User messages – secure messaging within the system. Either manually generated by the users when contacting the administrator or by the administrator himself to create messages to an individual user or a general message to all users.
  • System Log – serves as a log of all the activities in the system by keeping records of all the changes made by either the users or the administrator.
  • Profile editor – create or search-view and/or modify users profiles in the system as well as to modify the administrator’s profile.
  • Account manager – create or search-view and/or modify accounts to then activate, inactivate or block them. Also, to associate optional card accounts to enable users to transfer funds to them.
  • Manual transactions – to manually debit or credit any account in required instances. An additional feature is the ability to select the revenue option which will include the transaction as a generated fee (thus appearing in the administrator Revenues Report).
  • Revenue manager – to manage the revenues generated either automatically by the system or manually by the administrator.
  • Portfolio manager – to administrate and manage user’s passive portfolios.
  • Reports
    • Specific User Reports
      • Specific user – Specific account – All transactions
      • Specific user – Specific account – Ranged executed transactions
      • Specific user – All accounts – Executed transactions
      • Specific user – All accounts – Balances
    • Global System Reports
      • All users – All accounts – Balances
      • Manual transactions
      • Revenues generated (Manual, System or Both)
      • Balance sheet
      • System overview
  • System configuration settings – where the administrator can customize the system as well as the initial setup of the account types, transfer fees, etc.

 

Main features the Users are able to access:

  • Account balances – which shows all accounts with current/available balances, including optional associated debit card accounts. Additionally the user may view the last 10 transactions of any account for a quick overview.
  • Messages generated by the system – when any transaction request has been executed (i.e. a requested wire transfer, manual transactions applied to an account or changes in the user profile).
  • Messages sent by the administrator – contacting the user specifically or a group of users for announcements.
  • Incoming wire transfers – to transfer funds from an external bank into any account. The system will guide the user to create a print out of a pre-elaborated page with the needed information such as the correspondent bank information and the user’s personal reference account number. This can then be faxed by the user to his bank.
  • Outgoing wire transfers – to wire transfer funds out of any account. The system will provide an on-line form with the needed details for the wire transfer to be later executed by the system administrator. Includes the option to select which transfer fee to apply (i.e. standard or express).
  • In-house transfers – to transfer funds between accounts of the same user or to transfer funds to an account of a different user.
  • Optional Debit Card funding – this creates a request to the system administrator to execute a debit card funding (only debit card accounts pre-associated to any user). Includes the option to select which transfer fee to apply (i.e. standard or express).
  • Profile editor – to view/modify the user’s profile and password in the system.
  • Reports
    • Specific account transactions
    • All accounts executed transactions

Customized Solutions and Enhanced Support

We offer a complete solution to all our clients’ needs, which means that after NexorOne™ is bought as a stand alone package, we’ll back you up with all the tools you might need.

  • If you have the IT staff but just need help with the initial setup, installation and integration with your website, we offer an Installation and Integration Support.
  • If you need our IT staff to help you with the software as an ongoing support team, we offer an Active License and Support.
  • If you don’t have the IT team nor the facilities and servers to host the system, we offer a complete Hosting Solution Package which comes with a support contract and the necessary security measures to run your system.

Eurowire

Eurowire® provides a secure wire transfer clearing and messaging system for participating financial institutions. Services are not offered to non-financial institutions or to individuals.

The system can be utilized for sending and receiving international SWIFT® payments (MT103) through a secure online interface and to exchange encrypted messages with other financial institutions in real time. 

Provision of Financial Services - Formation of a Bank - Bank License

We form companies with a bank for our clients - and/or financial services license, i.e. asset management companies, primarily in the following countries:

·    Sweden (Swedish Credit Union)

·    Panama (Panama AG with Financial Services License)

  • Liechtenstein, Asset Management

  • New Zealand Financial Service Company with Bank Services License

  • Switzerland and USA: Full Service Bank

  • Full Bank Cayman Islands, Belize

  • Germany: Securities Brokerage, Investment Bank,Full Service Bank

  •  In addition we offer financial service providers the issuance of their own funds offshore.

 General Information with regard to Bank Licensing, Provision of Financial Services, Asset Management Companies

The licensing prerequisites differ greatly from country to country, in particular with regard to required capital stock of the bank and/or asset management company. The basis is, as a rule, the installation of a stock corporation according the respective laws of the country in which the company is registered, in addition the installation of an ordinary company seat in the country in which the company is registered. This stock corporation applies for a financial service provider and/or bank license. An excellent alternative can be a New Zealand Bank. A New Zealand Online Bank (correct term: New Zealand financial service provider with a banking license) both private persons and companies can offer bank services via the Internet without any restriction on customer numbers, deposit amounts or the number of currencies.

The fees for the foundation of a bank and/or asset management company are based on the country in which the entity is registered and the type of services. To learn more please refer to the individual web pages.

Tax Structure

In addition, in the formation of a bank or asset management company tax structuring plays an important role. We take over tax structuring within the scope of the "affiliated companies", for example foreign parent company and domestic subsidiary, formation of a foreign holding to collect domestic dividends exempt from taxes and many more.

The Correspondent Bank (Correspondent Bank Account)

We are the only provider in Europe to provide a connection to correspondent banks in Liechtenstein, Switzerland, Singapore or UAE.

Banking Software Online Banking

We offer our clients NexorOne online banking software for example: within the scope of the formation of a New Zealand financial services provider company with a license for banking services, installation of an asset management company and/or Swedish Credit Union. The full version of the software provides complete online banking services, it is however only available in English.

-Bank License USA and Switzerland:

License fees, attorney fees: approx. 150,000.00 Euro/ USD

Capital Stock: approx. 5 Mil USD/CHF, depending on the country in which the company is registered. USA: 10 Mil. USD at the FED.

The formation of a US INC and/or Swiss AG as the bank company with the capital stock of the bank is required.

The directors/general manager must have an education in banking  (for example: banker) and experience in the management of a bank. A nominee director is not possible, accordingly the client would have to move his principal residence to the country in which the company is registered and/or hire a Director who resides in the country in which the company is registered. Further license requirements are similar to those in Germany, this includes among other things a viable business plan, profit and loss calculation for the first three years, General Terms and Conditions of the bank according to the statutory provisions, becoming a member of the investment guarantee funds, required insurances etc.

In addition to the basic foundation and license fees, the following costs can also be relevant:

·     Preparation of the General Terms and Conditions (T&Cs), agreements between customers and bank, credit agreements

·      Homepage of the bank, Online-Banking-System

·        SWIFT Code, IBAN, international payment transactions, electronic communication channels and interfaces

·         Connection to credit card providers, Visa-MasterCard etc.

-Securities Brokerage Bank/Investment Bank/ Full Service Bank Germany:

The basis is the German Banking Act Section 32 Article. 1 et seqq. [KWG, German Banking Act]. We accompany our clients from conception to the licensing of the bank (Federal Financial Supervisory Authority, Bafin). The fees are based on the "type of financial services" and the required services we provide. Accordingly we provide the formation of "the company of the bank", as a rule a German AG [Inc.], the provision of banking software and "tax optimization" measures.

In addition to the basic foundation and license fees, the following costs can also be relevant:

·     Preparation of the General Terms and Conditions (T&Cs), agreements between customers and bank, credit agreements

·     Homepage of the bank, Online-Banking-System

·      SWIFT Code, IBAN, international payment transactions, electronic communication channels and interfaces

·      Connection to credit card providers, Visa-MasterCard etc.

-Financial Service Panama:

We offer you the company form of a Panama S.A. with a license to collect and administer (invest) customer assets.
With this service we make it possible for you to offer classic asset management or financial services without banking hours and teller's windows, with all licenses for trustee management of client moneys.

-Swiss Credit Union:

A Swedish Credit Union can legally offer services in the EU, which can normally only be offered by fully licensed banks, such as accepting deposits, making loans, etc., as long as these services are provided exclusively to members of the Credit Union. A potential customer can become a member automatically, if he/she wants to open an account, applies for a loan or take advantage of any other service provided by the Credit Union. However the legal situation has changed in Sweden due to EU level provisions: Members of a Swedish Credit Union must now belong to one specific profession / group of professions and may only be natural persons.

-New Zealand Financial Service Company with Bank Services License

A New Zealand financial services company with license for bank services can offer services to private persons and companies globally without restrictions on the number of clients, the deposit amounts or the number of currencies. However the laws of countries, in particular the German Banking Act [Kreditwesengesetz (KWG)], must be observed under this constellation.

The New Zealand Bank can provide almost all services, which can be offered by banks with A License, however the word „Bank“ may not be apart of the name. The service activities of a financial company are as follows, but are not restricted to the same:

  • Deposits and Loans
  • Debit Cards and Credit Cards Services
  • Issuance of Financial Guarantees and Financial Instruments
  • Service in the Area of Cash Management
  • Bank Accounts
  • Check Accounts
  • Saving Accounts
  • Time Deposit Account
  • Issuance of CDs
  • Bank Transfers
  • Payment Processing
  • Fund Management
  • Investment Marketing

The company is not subject to the provisions regarding the creation of capital reserves. Directors and shareholders can have any nationality their residence can be in any country.

-Offshore-Banks Belize and Cayman Islands

Offshore Bank Cayman Islands

In particular, the Cayman Island is an interesting location for the formation of a bank with an A license. The stock capital is approx. CI$400,000. The bank acts as a Universal Bank with its own IBAN, SWIFT Code etc. and may offer all bank services. First a stock corporation is formed on the Cayman Islands as a company of the bank. This stock corporation then applies for a bank license from the government agency. A qualified business operation is required on the Cayman Islands, a fully furnished office with at least one employee. An office building with "Teller Windows" can be opened. It is true that the bank cannot act as a bank in Germany in terms of a German bank (compare German Banking Act [KWG]), however such bank is very attractive for international transactions with natural persons or legal entities from other countries. Clients, that form this type of bank, usually have clients/investors from Middle America, Russia etc. With regard to the management of the bank one person is required, with a recognized banking education and experience in the banking field. A Nominee solution is not possible. The general manager of the bank must be a resident of the Cayman Islands. Such that either the client or a representative moves his/her primary residence to the Cayman Islands or hires a General Manager who resides in the Cayman Islands. The licensing process takes approx. 3 months. The fees are based on the services and are at least 120,000.00 Euro plus state fees. We can create an Internet presence with online banking software for the bank. The banking software costs between 14,000.00 and 65,000.00 Euro, depending on functionality. We will provide a corresponding provider. Office space can be selected in advance; we will provide you with a Cayman Islands real estate agent. Our German attorney can accompany you to the Cayman Islands in exchange for commensurate fees.

Offshore Bank Formation Belize 

We can realize bank formation (A-License) in Belize by means of our cooperation law firm in Belize. Information can be requested from the competent government agencies / central bank:

BELIZE

Central Bank of Belize
http://www.centralbank.org.bz/

Attorney General Ministry
http://www.belizelaw.org/

In this case a stock corporation with a place of business in Belize is formed as the company of the bank. The formation fees are based on the services, they amount to approx. 70,000.00 Euro plus government fees. Upon request we can provide full services in collaboration with the cooperation law firm located in the country in which the company is registered:

 -Formation of the company, entry into the commercial registry, domiciliation, opening of a bank account

-Bank license application, submission of all applications to the competent authorities, direct communication with the competent government agencies

-Homepage of the Bank

-Online Banking Software

-Pre-selection of suitable offices space

-Visa application, residence permit

 

 

 
 
spacespace
 

 

Partnerseiten:
Firmengründung im Ausland - Firmengründung VAE - Offshore Steueroasen -