Offshore Strategies For Fintech Companies

Check Our Video Presentation And Learn The Offshore Strategies For Fintech Companies

International Payment Processor

If you want to start a payment processor of your own, you will need to partner with a corresponding bank. It is not easy to get a corresponding bank account nowadays, but with a sound AML policy and regular policies and procedures in place and in writing, corresponding banks may consider your application. Your Fintech may also plan to become an offshore bank itself. Puerto Rico, Cayman and Dominica are good jurisdictions. For Fintech companies doing blockchain and business in the EU, Lithuania also offers a special banking license designed for Tech and Cryptocurrency banking. Recently one of our clients’ special license application was approved in Lithuania.

If you find it hard to break into the industry, partly due to your lack of years in business or the state of your credit, it will help you to partner with an established processing company to provide you with the opportunity to gain the experience required and build your reputation. We can help you with consulting and introduction to an established payment processor.

Money Transmitter (MT) Licensing

In the US, one of the biggest challenges faced by startups in the fintech space, is that of money transmitter licensing. Obtaining money transmitter licenses is not easy. It involves a large amount of paperwork, money and time. It can take up to two years to amass all 50 state licenses for the USA.

Needless to say, not every fintech startup requires money transmitter license coverage. For most, licenses would not be a requirement, but for those who do touch money as part of their business model, getting money transmitter licenses from the states in which their clients are based is very important.

There are various options when it comes to US Money Transmitter Licenses. You can partner up, apply for your own, or have an arrangement where exemption is provided. Companies outside the US or having a majority of their principal business outside the US are subject to even more scrutiny when it comes to applying for MT licenses.

Initial Coin Offering ICO

The primary reason for people leaning towards ICOs is that it looks like a much easier way to raise a large amount of money. There are instances where that is clearly the case and that will be a long-term phenomenon. The token has to make sense for the company and it has to be appealing to the investors, one important tool to use is the types of offerings:

  • The Regulation D have various types of offerings.
  • The Regulation D have to sell to accredited investors.
  • If we’d be relying in the section 506 C of the Reg D, it would mean that you can advertise, you can even publicize your offering but you should verify if your investors are accredited.  
  • Other option is the Regulation S that is being used by a few ICO but this one has some issues.
  • The Securities offerings don’t need to be registered if they are outside the United States.
  • The advantage of the Reg A is that you can sell anybody even if they aren’t accredited investor.
  • You can’t spend more than 10% of your net worth.
  • If you’re selling a small amount that is limited to a million dollars you need the SEC approving.

Offshore Banking Licensing

Offshore banking brings many benefits and it is completely legal when done correctly. But more useful is to know what are the best jurisdictions you can get a license for a start-up offshore bank.

Jurisdictions

  • Dominica
  • Cayman
  • Lithuania

Our Offshore For Fintech Companies Services Includes:

Silver

Setup Fee

$80K

Offshore Service For Fintech Companies Silver Package

Payment Processor Setup/Introduction
Corresponding Banking Aplication
Money Transmitter License 1 USA State
Initial Coin Offering Business Plan

Gold

Setup Fee

$100K

Offshore Service For Fintech Companies Gold Package

Payment Processor Setup/Introduction
Corresponding Banking Aplication
Money Transmitter License 1 USA State
Initial Coin Offering Business Plan

Platinum

Setup Fee

$150K

Offshore Service For Fintech Companies Platinum Package

Payment Processor Setup/Introduction
Corresponding Banking Aplication
Money Transmitter License 1 USA State
Initial Coin Offering Business Plan

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