Formation of a Bank, Bank License,Asset management company, Offshore Bank License, Bank License Cayman Islands, Offshore Bank Belize, Offshore Bank License St. Vincent,Bank License Germany, Bank Liechtenstein

Provision of Financial Services – Formation of a Bank – Bank License – Asset management company: Typical modules to connect to SWIFT and get a BIC

Typical modules to connect to SWIFT and get a BIC:

1. The Alliance Kits

The Alliance Kits pricing scheme consists of a one-time fee and an annual maintenance fee.

The modules vary by control, integration and solution:

  • Control: do you want to use a private or shared infrastructure connectivity model?
  • Integration: do you need back-office integration or is manual message entry sufficient?
  • Complete solution: do you want to use a messaging interface from SWIFT or from a Partner?
 One-time fee Annual fee
 Alliance Access Kit EUR 43,800 EUR 14,000
 Alliance Entry Kit EUR 22,000 EUR 9,800
 Alliance Gateway Kit EUR 18,100 EUR 8,600

2. Alliance Lite

Alliance Lite is available in two different pricing models:

  • Flat fee: 850 EUR fee per month all-inclusive, for up to 4,000 items sent or received per month. Above that, additional items will be charged at 1 EUR per item.
  • Pay as you go: 200 EUR fee per month, and 1 EUR per item sent or received.

An item is 1 message, or 1 FileAct file chunk of 100 KB

These fees are comprehensive, including:

  • your own BIC code, and membership to SWIFT
  • a set of 10 USB hardware security tokens
  • a CD-ROM with the driver for the tokens, and the AutoClient software
  • access to Alliance Lite from browser as well as AutoClient
  • on-line Alliance Lite training
  • Alliance Lite documentation
  • SWIFT User Handbook (UHB), document
  • on-line access to the full SWIFT User Handbook (UHB), including SWIFT Standards Message Reference Guides
  • access to the BICPlusIBAN directory
  • PKI certificates, certified by SWIFT
  • award-winning SWIFT Standard support
  • access to future Alliance Lite software updates

All packages require being a member of SWIFT.

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:

Services Bank License- Offshore Bank License:

  • Incorporation of the company of the bank
  • Apply for admission to hold an A-licence
  • Setup of a place of business at the jurisdiction of your bank
  • Recruiting of fit & proper personnel for the management of the bank according to international banking law
  • Connecting to a rating agency (Rating, Basel II), e.g. Moodys, S&P
  • Connection to Society for Worldwide Interbank Financial Telecommunication (SWIFT, appointments at SWIFT), Swift-Code and IBAN
  • Connection to deposit guarantee fund
  • Banking Law (general terms and conditions of the bank, credit agreements, due diligence, compliance, etc.)
  • Representative offices or branches in other countries
  • Tax planning and routing of dividends e.g. by setting up a holding

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 servicewe 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: