fbcode

Offshore Strategies For Fintechs
FAS CPA & Consultants

Service Details

Your Fintech needs a MSB license and corresponding account to serve your clients with their money transfer.

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.

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.

Corresponding Bank Account

A correspondent account is an account established by a banking institution to receive deposits from, make payments on behalf of, or handle other financial transactions for another financial institution. Correspondent accounts are established through bilateral agreements between the two banks.

Subscription Plans

Silver

$35K

Filing Fee

Gold

$70K

Filing Fee

Platinum

$75K

Filing Fee

We Are Just A Phone Call or Email Away From You. Schedule Your Consultation.

Accounting Firm providing Accounting & Bookkeeping, Tax Planning and Offshore Strategies to grow your business and protect your assets.

Clients Feedback

Our Clients Reviews

Fulton is a wonderful CPA who fully understands tax law and provides honest advice for his clients.

    Al Kusner
    Al Kusner

    President

    Thanks to FAS & CPA Consultants and Fulton Abraham Sanchez, CPA, I was able to resolve a debt of $479,677.71 that I had with the IRS.

      Gala Cedeño
      Gala Cedeño

      Entrepreneur

      My experience with FAS CPA & Consultants has been incredible, their professionalism is impeccable. I highly recommend them.

        Carlos Lange
        Carlos Lange

        Manager

        I highly recommend FAS CPA & Consultants, they are responsible, efficient and very dedicated.                                        

          David Barcelo
          David Barcelo

          Manager

          error: Content is protected !!