5. OFFSHORE BANK FOR SALE
Kw: OFFSHORE BANK FOR SALE
Kw: Offshore Bank In UAE Dubai, BUY
to buy and set up an Offshore Bank?
up an offshore bank is no more an easy task. You may have managed to raise some
capital from several sources and looking for an OFFSHORE BANK FOR SALE. Establishing one and making it operational is indeed a challenge
for any outsider. You also need to know the involved cost and capital required
to start one. It does take a good amount of time and more money to get hold of
valid bank licenses these days. If you are serious about your venture and have
viable business strategies and plans, take the help of a good consultant. They
can provide proper and timely guidance, thereby overcoming challenges and
It represents the country’s regulatory approval where the bank is
planned to be opened. Moreover, obtaining the license is an absolute must to
set up a bank. However, it is considered to be just the first step in the
entire process. It is not similar to operating a bank.
License for Offshore Bank In UAE Dubai should be specific
to the group or person obtaining it. The country’s Central Bank authority is to
‘vet’ them and ensure they meet specific conditions. If you buy an existing
license from a broker, you will require undergoing the approval procedure of
the regulatory agency. Both the initial approval and transfer process takes a
long time. Hence, trying to acquire an existing license will only incur more
The license being just another regulatory agency approval, you
need to tackle the marketplace. Combined with it, you need to meet the
requirements for anti-money laundering, profit, transaction volumes,
capitalization, KYC, etc. You can achieve your set objectives and goals by
identifying a strategic partner.
To purchase an already operational bank, you need to derive
regulatory approvals about your ownership. In the meantime, the bank is free to
continue its operation without any hindrance. But a hefty premium is to be paid
comprising of 3-5 times the company’s book value. This again depends on a variety
Duration & Investment
Incorporating a new bank right from inception is likely to take
about 6 months to 2 years, based on the jurisdiction. If you have low capital
($1 million) and want to BUY OFFSHORE BANK within six months’ time, then
you can consider Dominica. But with such low capital, Dominica startups
may also find it tough to partner with an international correspondent bank.
This is to derive bank-to-bank services. You need to have ready access to correspondent
services offered by some international bank.
A better low-end amount would be $3-5 million to consider OFFSHORE
BANK FOR SALE. With this figure, you can consider other less expensive
jurisdictions like Belize. If you can invest $10 million, then you can consider
almost all Central American and Caribbean countries offering international
banking. It also includes Puerto Rico due to its United States territory
status. Thus getting access to U.S.-based correspondent banks, merchant
card/credit card services, etc. is much easier.
Mexico leads among the Caribbean countries requiring an investment
of just over $25. This amount is also suitable to open a bank in some quality
Asian and European jurisdictions, including Switzerland.
Other non-monetary issues to consider
Establishment cost is likely to vary, depending on the
person/group undertaking the task associated with several issues.
experience’ of the investor group is one such consideration to be taken into
account. It is important to identify people to serve as board directors and
officers for the application procedure. It also includes ongoing operations. There
are some jurisdictions that are not that stringent concerning the banking
background of the ownership group.
be considered the investor group’s nationality, fund source, background checks,
decision to select a location also is influenced by double tax treaties to
optimize tax efficiency. Offshore Bank In UAE Dubai and Puerto Rico will
be feasible as they offer lucrative incentives to potential investors. For
instance, the latter offers incentives, thereby reducing bank income taxation
by about 4$. Thus, it is quite lucrative to investors when compared to other
plan is the next issue to be addressed. The Central Bank will review the
submitted business plan. Coming up with a high-quality plan will ensure more
positive results, thereby saving money, time and energy. Hence, the business
plan is better drafted by an experienced external service provider or an
attorney. This will however add up to the establishment cost.
should also be in place AML (anti-money laundering) procedures and policies
along with KYC (Customer) guidelines. For this, the prevailing best industry
practices should be considered. It is crucial when trying to obtain foreign
correspondent bank relationships.
bank plans allow U.S. customers, then submission of GIIN (Global Intermediary Id.
No.) is mandatory with the U.S. IRS. This is to comply with FATCA regulations. Otherwise,
appropriate paperwork needs to be performed with FATCA. This way, the bank’s
transactions are not likely to come under ‘backup withholding’ regulations. Non-compliant
banks are to pay 35% tax of gross amount of wire transaction carried out via the
U.S. Federal Reserve. It also includes other FATCA-compliant banks located
outside the United States. When you BUY OFFSHORE BANK, you need to
certify of not catering to U.S. customers. This is mandatory if you desire to
avoid prevailing regulations or comply with the U.S. IRS.
On selection of the jurisdiction, the ownership is to incorporate
the bank with formal application submission to obtain a valid license. It
should also accompany crucial documents. The bank has to follow-up as well as
answer questions posed by the regulators. On getting satisfactory answers, the
authorities will provide the license, thus completing the OFFSHORE BANK FOR
Once the license is obtained, the next step is to open a local
bank account to deposit the capital amount. Thus, the process to obtain an international
correspondent relationship gets initiated. Your bank may offer a variety of
services including cryptocurrency (blockchain), SWIFT, gold storage facilities,