Bank Formation
Superior - The Hybrid Full Solution
IBC incorporation, licensing support with regulator, depository agent setup. Including SWIFT code application and e-banking software full license. Jurisdictions: Comoros and Georgia or Kazakhstan. Complete turnaround: approx. 5-7 weeks, including IBAN correspondence accounts for SWIFT Payments. Compliance | Due Diligence | Licensing Support | Depository Agent
The Bank Formation Offshore in PAMEROY's Superior Package: including SWIFT Code, Online Banking / CRM and the Setup of a full licensed Depository Agent in Georgia or Kazakhstan to process payments with official permissions and licenses.
Professional bank setup including Depository Agent, SWIFT Code and full online banking software license.
The Superior Package truly offers you everything you need to establish your new bank, to ensure full functionality and to serve customers with satisfaction. Starting with setup in the Comoros, the Depository Agent in Georgia or Kazakhstan, the application for your own SWIFT code for global identification of your bank and the Online Banking Premium Service with crypto capability, TAN or SMS transaction verification and compliance-proof retention of digital customer information - it's all included.
The sequences of a bank foundation in the standard package including offshore company setup, license support, SWIFT setup and depositary agent formation look like the following. Please do not hesitate to ask us if you would like more details on one or the other point. The Pameroy Licensing Team will assist you in German, French, English, Dutch, Mandarin and Cantonese for you Mon-Fri from 5am to 1pm CET via email, skype, telegram or even phone +852 8191 4752 or +44 141 628 0943 ,
1. Formation of the Offshore IBC (included)
Incorporation of the offshore IBC in the autonomous regions of the Comoros. Duration about 1 week. The word BANK or BANQUE may be mentioned explicitly in the company name. Minimum a director and a shareholder
2. Due Diligence (included)
Submission of all personal documents of the future director and shareholder. Certain qualifications must be fulfilled. Curriculum vitae, proof of employment, proof of principal simplified, notarised passports, bank reference and proof of address are to be provided by the client. PAMEROY assists with customization to meet the needs of the regulator. In addition, PAMEROY will create for you the following documents, which are the subject of the license application:
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Business plan extended to bank tailored with minimum 5 year revenue forecast, software and internal procedure description
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Preparation of the Compliance Manual to comply with and implement the OECD Guidelines and Guidelines on Preventing Money Laundering and Terrorist Financing
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Setup AML Manuals and Know Your Customer Policy (KYC)
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Setup General Terms and Conditions (AGB) and Privacy Policy + Legal Disclaimer
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Completion and pre-fulfillment of all application documents for the regulator
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Pameroy is also an EFO / External Financial Officer. PAMEROY certifies in his capacity as Certified Professional, ia. Bank references, passports, bank account statements for the proof of capital strength and take over the power of attorney the entire Liason with the regulator.
3. Setup of the Depository Agents / Georgia or Kazakhstan (included)
Company formation in the Republic of Georgia in tax exempted free trade zone or in Kazakhstan with a license issued from the National Bank. Financial Special License will be issued permitting to conduct Securities Dealing, FX and Binary Options, ICO Launch, Crypto Exchange, Offshore Wealth Management and Private Equity and Venture Capital. IBAN Bank Account Opening with Bank of Georgia or in Kazakhstan with Sberbank and Alfabank. GBP / EUR / USD / RUB as standard account currencies with token and VISACard, online banking. Through the Depository Agent you will in future process all payments on behalf of the Bank - legally secured by the Financial License. You will receive the drafting of the business contract between the bank license company and the depository agent from us.
4. Application for the Bank License and Obtaining the License (included)
Experience has shown that the complete licensing procedure only takes 5-7 weeks.
5. SWIFT Code (included) and Debit Card Programm (optional)
PAMEROY will initiate the SWIFT Code registration for you and will introduce you to a Principal Member of VISA and MasterCard in order to create your own Debit Card Program. The costs vary and are negotiated directly between you and the card issuer. The SWIFT application costs are included in this Superior start-up package.
6. Online Banking & CRM
If you would like to offer your customers an online banking service that works fully compliant with the requirements of data protection and compliance, account management, this package is right for you. The costs for this are already included Superior package. The software solutions are ISO certified and are used thousand times daily by banks and payment service providers. You will receive the full license for e-banking and can start amending immediately the software to your needs. The programmers and developers of our partner software providers of course will assist you whenever they can.
7. Start of the Operations. Ready to go.
Important Notice
Your new banking license company has the following characteristics.
Taxation
No taxation, neither on the Comoros in the autonomous regions, nor the Free Zone of Georgia, where the Depository Agent is located.
Setup Time
Bank setup approx. 5-7 weeks; Depository Agent in Georgia approx. 4 weeks incl. Bank account openings, SWIFT connection 4-5 weeks, Debit Card Program: Depending on VISA and MasterCard. Bank and Deposit Collector are usually completly setup within 7 weeks.
Payment Information
As with any CSP provider all Corporate and Licensing services and licensee fees are payable: upfront. Third party services you pay directly to the respective provider (, debit cards etc).
Onboarding of Customers
In order not to get into conflict with European or American regulators, we advise you free of charge. Our customer service can give you answers even to those legal important issues. Some important rules within the customer's onboarding process have to be considered; we say when and how.
Permitted Activities for your Bank and the Depository Agent
The bank license from the autonomous Comoros allows you to provide the following services and market them publicly on the Internet via your website:
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Account management and opening options for worldwide based individual and corporate clients
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Acceptance of customer funds
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Foreign Currency Exchange
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Asset Management
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Issuing of own certificates, bonds
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Savings products and fixed income investment products
Loans; also mortgages as well as micro loans
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Asset Management / Asset and Wealth Management and Investment Advisory (Inv. Advice)
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Issuing own debit or credit cards
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Securities Trading - Securities Dealing
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Merchant services such as credit card processing, wallet services, transactions on behalf of and on behalf of third parties
The Depository Agent may additonally provide:
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ICO Launch and Crypto Exchange
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Offshore Forex and Binary Options
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Wallet Services and Merchant Services
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Security Token Trading and Crypto Crowdfunding
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Remittance services on behalf of the bank
COMORES: COMPANY WITH A-CLASS BANK LICENSE
The Comorian company: an International Business Company established under the International Business & Company Act of 2003. The license approval will be given if all requirements are fulfilled. The availbility to serve international customers is given. The A-Class license is the only one of its kind in the world that can be applied for and approved without minimum capital or security deposits *. The banking license paves the legal basis for executing regulated banking services to an international clientele - whether private or business customers or even institutional investors.
*We recommend that you provide a proof of capital (bank statement or bank confirmation for a minimum of EUR 125,000, as this will greatly speed up the license approval and reflect your financial strength and credit rating. We will advice you on this point.
GEORGIA: DEPOSITORY AGENT WITH FREE ZONE FINANCIAL LICENSE
KAZAKHSTAN: DEPOSITORY AGENT WITH LICENSE FROM NATIONAL BANK (RECOMMENDED)
We are setting up an official payment processor for the bank in one of the four free zones in Georgia, where so-called special licenses, ia. are issued for financial services. The license also includes the approval for activities such as customer money acceptance, venture and private capital, crypto based services or even an own ICO launch with the subsequent security token trading. Bank accounts are opened at the two largest banks (Bank of Georgia and TBC Bank).
Alternatively we recommend a setup of a Depository Agent in Kazakhstan. We setup the company, opening TWO corporate bank accounts (multi currency) and applying for a license from the National Bank stating that this company is entitled to process FX, Securities Dealing and of course PSP like activities such as remittance services and payment processing on behalf of third parties.
The Georgian FreeZone has been established by the Law of Georgia on Free Industrial Zones; The Decree of the Government of Georgia # 131 dated June 3, 2008 on Approval of the Rules on Creation, Arrangement and Free Zone Operation and the Georgian Tax Code. The Free Zone Company is not under the supervision of the National Bank of Georgia, as it does not provide services within Georgia and Georgia, and therefore is not viewed and monitored as a player in Georgia.
Staff & Office
It suffices for both companies (bank and depository agent) one person to act as director and shareholder. It is not mandatory in the Comoros (autonomous regions), nor in Georgia or Kazakhstan, to employ staff or maintain proper local offices. Anyway, the required local addresses and Registered Agent Services are provided by Pameroy. Important: We definitely recommend naming a second person as Compliance Officer. It is not mandatory; However, it is recommended: International standard to effectively counter AML and terrorist financing. The rules are available from us.
Trustee Service
PAMEROY is aware that the higher setup prices and package designs offered to customers, a very special focus must be placed on securing setup payments. In the Superior Package we offer our customers our free escrow service.
For services offered through third parties, we generally pay when services are delivered.
We will therefore withhold the costs of the SWIFT registration and the software licensing implementation and transfer to the provider after SWIFT code and software license have been issued.
Optional: Debit Cards & inklusive: SWIFT
After licensing your bank, you have the opportunity via accredited partners to apply for your own card program * or become a member of SWIFT in order to be identified worldwide with your own SWIFT code and to increase your standing as a full bank.
* The approvals for your bank's own debit card program or SWIFT application are, of course, dependent on third parties and their compliance and requirements at the time the application is submitted. Feel free to ask for terms and conditions for these extra services.
Included: Online Banking Software and Customer Management *
We are pleased to introduce you to the leading providers of online banking solutions that have successfully hosted hundreds of software licenses for payment service providers, banks and credit unions and have been using them for years. The purchase of the full e-banking license to be used with your bank is included to this package. You can start straight away with amending the design or configure the modules - either alone with your team or by using the software provider's developers.
Server charges and of course individualised programming is not included in the full license.
Contact Us / Instant Contact
We are available Mo-Fr from 5am to 1pm CET.
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