NCL can help you obtain the licences necessary to operate financial institutions in Cyprus and other jurisditions. We also register and can help you administer such companies, including investment and brokerage firms, forex trading companies, payment processing providers, mutual funds, and banks.
Financial service providers can perform many of the functions traditionally reserved to banks, such as deposit taking, investing and payment processing. Financial service companies can also perform brokerage and forex trading functions.
Yet, unlike banks, financial service providers are not subject to strict capitalisation and due diligence requirements and may not require a physical office or employees in the jurisdiction issuing the operating licence. These features make financial institutions relatively easy to create and operate offshore.
Setting up financial operations requires careful consideration of multiple factors:
- the types of financial services to be provided
- the types of banking and financial licences required
- the types of financial companies that can meet your needs
- the choice of offshore jurisdictions, the advantages that they offer and the risks that must be managed
- initial and ongoing capital requirements
- due diligence requirements
- achieving compliance with regulatory requirements
- the possibilities for achieving benefits through combining financial companies with other types of offshore entities such as international trusts.
At NCL we are committed to developing comprehensive solutions tailored to meet your needs. With extensive experience in company formation in many jurisdictions and broad network of high-level contacts, we are an ideal partner to work with you.
We also provide dedicated business support services to complement the incorporation, licensing and administration of a broad range of financial companies.
Contact us today to confidentially discuss your requirements for setting up financial institutions.