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Offshore Bank License

kalikex

kalikex

Active Member
Jun 26, 2023
90
23
8
23
Russia
#1
Martin Everson said:
Official reason might be to cover compliance costs. But simple answer is that it's easy money. Anyone can buy a banking license and then charge i.e $1,000 for account opening and then not even look at docs but just reject the application two weeks later. Get two account openings a day thats like over $40k a month for doing nothing. Not a bad business model if you ask me ;).
Click to expand...
can i acequire banking licence ?
 
#6
Splitting this from the thread about EQI Bank.

kalikex said:
How ?
Click to expand...
  1. Raise enough money (usually a few million USD, but less can work).
  2. Pick a jurisdiction.
  3. Build a team.
  4. Apply for license (hire a local law firm to help you).
  5. Go through license process.
  6. Get a banking license.

That's then followed by:
  1. Try to get correspondent bank accounts.
  2. Try to get correspondent bank accounts.
  3. Try to get correspondent bank accounts.
  4. Try to maintain what fragile correspondent accounts you have.
  5. Lose correspondent account.
  6. Try to get correspondent bank accounts.
  7. Try to get correspondent bank accounts.
  8. Try to get correspondent bank accounts.
  9. Try to maintain what fragile correspondent accounts you have.
  10. Lose correspondent account.
Rinse and repeat. Unless or until you manage to build a bank that's stable, secure, and trustworthy enough that you can maintain healthy correspondent relationships.
 
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Reactions: Marie Manila, Konstanz, Forester and 2 others
#8
Simon4466 said:
This man read the post about starting a 'bank' and only taking in the account opening fees and suddenly wants to open his own bank smi(&%smi(&%
Click to expand...
Yes My man

Sols said:
Splitting this from the thread about EQI Bank.


  1. Raise enough money (usually a few million USD, but less can work).
  2. Pick a jurisdiction.
  3. Build a team.
  4. Apply for license (hire a local law firm to help you).
  5. Go through license process.
  6. Get a banking license.

That's then followed by:
  1. Try to get correspondent bank accounts.
  2. Try to get correspondent bank accounts.
  3. Try to get correspondent bank accounts.
  4. Try to maintain what fragile correspondent accounts you have.
  5. Lose correspondent account.
  6. Try to get correspondent bank accounts.
  7. Try to get correspondent bank accounts.
  8. Try to get correspondent bank accounts.
  9. Try to maintain what fragile correspondent accounts you have.
  10. Lose correspondent account.
Rinse and repeat. Unless or until you manage to build a bank that's stable, secure, and trustworthy enough that you can maintain healthy correspondent relationships.
Click to expand...
Any your connection info ?
 
#10
What you forget is that you need a lot of capital to start a bank. In most European countries, the capital required is about 10 million euros - in addition, there are huge demands for buildings, staff, training, regulations, etc. - the fact that you can pay for a license that may only cost (guess) 50,000 EUR is not enough - it is far from the goal.

But okay, none of us here know if you actually have maybe 30 or 40 million euros. It has been seen before, they have also been found on this forum before, as unlikely as some would say but true.
 
#18
kalikex said:
You have any Connection for that ?
Click to expand...
Dominica is a joke of a jurisdiction for getting a bank license. You just funnel money in fees & miscellaneous costs (aka bribes) until you don't have any more. It's a corrupt jurisdiction and almost worthless for banking endeavours.

Also, you would still need at least $2M in capital and at least some professionality (don't want to offend, but your writing style isn't too great).

There are better jurisdictions where you don't need to pay off every government worker to get the process started. Regardless, you'll still need a solid $100K in costs or fees, and at least $1M (on the low end) for your license to be granted.
 
#19
ilke said:
Dominica is a joke of a jurisdiction for getting a bank license. You just funnel money in fees & miscellaneous costs (aka bribes) until you don't have any more. It's a corrupt jurisdiction and almost worthless for banking endeavours.

Also, you would still need at least $2M in capital and at least some professionality (don't want to offend, but your writing style isn't too great).

There are better jurisdictions where you don't need to pay off every government worker to get the process started. Regardless, you'll still need a solid $100K in costs or fees, and at least $1M (on the low end) for your license to be granted.
Click to expand...
I've been waiting for this type of review. Also, the Kingdom Bank is licensed in Dominica, but their fees are quite aggressive as they expect to cover all costs from one customer. Thanks for understanding my English writing; I write without Grammarly. Otherwise, I use professional English, but in forums, I stick to regular fluent English. Could I have your contact information as well? cover all cost from one coustmer also thanks for my english writing i write without grammerly else i use professional english but in forum i just done with normal fluent english can i have your connectin also ?
 
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