Fintech projects are those projects where innovations and technologies are utilized to compete with traditional financial institutions, including banks and intermediaries in the financial services market.
For more than 8 years, we have been assisting in obtaining financial and payment licenses, specifically: licenses for payment institutions Payment Institution/API/Small PI and E-money Institution/Small E-money licenses, Stored Value Facility (SVF), and Money Service Operator (MSO) payment licenses, as well as banking licenses in Europe and offshore banking licenses.
EMI (Electronic Money Institution) refers to a payment institution capable of issuing its own electronic money, distributing it in the virtual network, and exchanging it for fiat currency. Yes, such a company requires a license to operate. SBSB advises paying attention to jurisdictions such as Lithuania, Malta, the Czech Republic, Cyprus, and Estonia for obtaining the necessary licensing.
In fact, a banking license can be obtained in any country. However, there are countries where the requirements are more lenient and simpler, specifically offshore jurisdictions. Offshore banks are attractive due to favorable taxation, as they either do not pay taxes at all or pay them at a significantly reduced rate compared to resident banks. It is worth paying attention to Saint Lucia, the Commonwealth of Dominica, the Cayman Islands, and the Bahamas.
To launch a cryptocurrency exchange, consider jurisdictions such as Estonia, Switzerland, the USA, Malta, Gibraltar, the United Kingdom, Singapore, and Hong Kong, as well as offshore jurisdictions. The challenge with offshore jurisdictions is that it’s almost impossible to find a payment solution for working with fiat funds. SBSB lawyers can help determine the most suitable jurisdiction for launching your cryptocurrency exchange and will provide ongoing support for your crypto project.
Legal services in the cryptocurrency sector:
- Full turnkey project support
- Selection of the optimal jurisdiction and company registration
- Development of a corporate structure tailored to the specifics of your project
- Preparation of key and specific documentation individually tailored to your project
- Obtaining licenses for the storage and exchange of cryptocurrencies, special permits
- Development of mechanisms for the acceptance, circulation, and conversion of fiat funds and cryptocurrencies
- Opening accounts in banks and payment systems
- Consultations on tax planning.
To offer services legally on your online gambling site, you must obtain an online gambling license. An online gambling license ensures that transactions are conducted securely, customers are guaranteed to receive their money, and the casino is not engaged in fraudulent activities. Thus, obtaining a gambling license is necessary to create a positive image of the casino and present it to customers as a reliable establishment. Acquiring a gambling license will help avoid issues with regulatory authorities and facilitate the rapid and quality development of your company.
Our lawyers have been obtaining gambling licenses in various jurisdictions for over 8 years. It’s noteworthy that the Isle of Man, Vanuatu, Malta, Kahnawake, and Curacao are among the most sought-after locations for obtaining a gambling license. It should be highlighted that more than 70% of all gambling projects have obtained their license specifically in Curacao.
Yes, a company operating in the forex market is required to obtain a license. Obtaining a license legitimizes the company’s activities from a legal standpoint and also increases the level of trust among traders.
Our company has been involved in obtaining brokerage licenses for over 8 years. Based on our experience, it’s best to obtain a forex license in Latvia, Estonia, the Czech Republic, Switzerland, New Zealand, Cyprus, Malta, the United Kingdom, the USA, Australia, Panama, Hong Kong, the Isle of Man, Mauritius, Belize, the Seychelles, and Vanuatu.
Forex activities are regulated by financial regulators in the countries where forex brokers are registered and conduct their operations. In some countries, there is no specific regulation of financial activities, including the operations of forex brokers.
Regulators for forex brokers vary by jurisdiction. In Cyprus, it’s CySEC; in Malta, MFSA; in the United Kingdom, FCA; in Belize, IFSC; Mauritius, FSC; in Australia, ASIC; in the USA, NFA; in Vanuatu, VFSC, etc.
How to obtain a forex license? Key steps:
- Collecting documents for the company registration in the respective jurisdiction.
- Company registration by our specialists.
- Preparation of documents for obtaining the license: drafting the company’s business plan, filling out forms for obtaining the license, and policies for the website.
- Selection of the company’s staff (depends on the jurisdiction).
- Forming the company’s charter capital (depends on the jurisdiction).
- Submitting the company’s documents and forms for obtaining the license, accompanying the license acquisition, preparing responses and additional documentation at the regulator’s request.
- Passporting the license in Eurozone countries (depends on the jurisdiction).
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