Banking License is a specialized corporate site aimed to help companies to procure their own banking license. Having a banking license gives the possibility to engage in activities that are connected to banking. It will allow to proceeding with the bank formation, whether it’s a retail banking or its specialized private banking whose main target are wealthy people who are looking for a good and trustful bank. Bank license will allow also in assisting with the regulatory and banking licensing requirements for the formation of an offshore institution.
The banking sector have always been perceived by the public, as well as by the corporate world, as a symbol of wealth and economic power. The same standings are used in the case of offshore banks, which can be formed in one of the leading offshore jurisdictions or in the new offshore financial centers.
Principal types of offshore bank licenses:
It is possible to divide offshore banking licenses into two main types:
General bank license is known as a license for the provision of bank services at the place of registration or international bank services for the public. Banks with General License can act as any other bank entity in the world. The bank can accept fund deposits and perform overall bank services for resident or non-resident clients. However as in any of majority of countries, the activity is limited and regulated for providing services to non-residents, in other words, offshore banking services only. These kind of offshore banks are established with reason for providing commercial bank services in an offshore region.
Restrictive bank licenses (also known as “internal” license) have limited territorial activities of the bank. For example they are limited to have the possibility of providing services in foreign currencies or to certain clients. The Internal bank license does not allow to accept deposits from the public and it can provide its services only to those entities which are provided in the obtained bank license.
Basic types of offshore banks can become a high-quality tool for:
- Active cash flow management,
- Tax planning,
- Widely access to financial markets,
- Establishment of confidential and flexible bank accounts,
- Increase in image of the financial group or holding,
- Issuing bonds and guarantees for tender proceeding purposes,
- Easier access to bank information about business partners and competitors,
- Providing loans and credit facilities.
- More progressive financing of business activities of a holding or financial group.
See more: Banking Services