An Offshore Bank with European and Swiss Standards
Discover our solution for an Offshore Bank with European and Swiss Standards and capabilities, offering EU/CHF IBAN, SEPA payments, multicurrency accounts, and Swiss client services while maintaining offshore advantages. Do not hesitate to contact us for more information about this matter at connect@swissfintechpro.com
Our solution for an Offshore Bank with European and Swiss Standards will transform offshore banking, where it’s not just about tax benefits but also about offering top-notch services like EU/CHF IBANs, SEPA payments, and having a Swiss base, all while retaining all the benefits of operating offshore bank.
Click Here for another post on Commonwealth of Dominica banks
Before presenting our solutions, we will have a look at the benefits and drawbacks of operating an offshore bank.
Offshore Bank Benefits: The Bright Side
- Cost-Effective Setup: Offshore bank licenses? They’re a steal compared to buying a small European bank. Think of it like getting a luxury car for the price of a scooter!
- Lower Capital Requirements: You need less capital to get started offshore – somewhere between $1 million and $2.2 million. That’s peanuts compared to the $5 million in the EU, $10 million in Liechtenstein, and a whopping $20 million in Switzerland.
- Lower Operating Expenses: Running an offshore bank won’t break your bank. Operating costs are just a fraction of what you’d shell out in Europe or Switzerland. The smallest of Swiss or Eu Bank will generate from 300,000 to 500,000 CHF monthly expenses at best. Running an offshore bank will set you back at 20,000 USD if you operate a small offshore bank and at 50,000 USD monthly expenses maximum for a bigger operation.
- License Flexibility: Offshore means options. You can snag a ready-made bank license, sidestepping the hassle and expense of a full-fledged bank. That’s a no-go in the EU and Switzerland where you either need to start from scratch or buy an operating bank.
- Streamlined Regulation: Offshore jurisdictions are like the express lane at the supermarket – quicker and more efficient, especially when it comes to setting up shop or transferring licenses.
- Privacy Perks: If you’re all about keeping things under wraps, offshore banks are your best pals. They offer more privacy and confidentiality than their onshore counterparts.
Offshore Banks Issues: The Flip Side
- No Iban System: Offshore banks typically don’t offer IBANs, sticking to plain old account numbers instead.
- SEPA Outsiders: Being outside the SEPA network means missing out on its benefits for streamlined Euro payments.
- Offshore Office only: Offshore banks usually only have a brick-and-mortar presence in their own jurisdiction, which can be a bummer for clients wanting to make cash transactions or deposit their gold stash.
Setting Up Your Dream Offshore Bank
- Choosing the Right Jurisdiction: Think Commonwealth of Dominica for a new license – it’s quick, covers a range of banking services, and yes, it includes crypto banking. Avoid the pitfalls of fake licenses in places like Comoros and Gambia where both Central Banks have confirmed many times, they are not issuing offshore licenses at all.
- Corresponding Bank Accounts Solutions: This is crucial for SWIFT applications and international transactions. The Commonwealth of Dominica shines again here, with options to open corresponding accounts in Europe and Switzerland.
- European and Swiss IBANs and SEPA Solutions: With the right setup, meaning the possibility to open corresponding accounts in EU and Switzerland your offshore bank can offer European and Swiss IBAN accounts and SEPA payment solutions. Plus, you get the bonus of multiple currency options.
- Setting Up a Central European Office: Here’s where it gets clever. Set up a Swiss company SRO/Finma company that owns some shares of your offshore bank. This entity can handle cash deposits, offer financial advice, and even engage in crypto transactions – all legally and above board in Switzerland.
How does the Central European Office work.
Said your Offshore Bank is called Infinity Capital Bank. Then we set up a Swiss SRO called Infinity Capital SA. A Swiss Sro is the Swiss Knife of Swiss financial sector that can do, Financial Advisor, Payment Transactions Services, Currency Exchange, Crypto Exchange and Wallet Services, Credit Transactions, Gold, Precious Metal, and Commodities Trading. Once you have completed this process, you will be able to receive clients of the bank in Switzerland. Technically, clients will be received at the offices of Infinity Capital (Switzerland), not at the offices of Infinity Capital Bank. They will interact with employees of Infinity Capital (Switzerland), not Infinity Capital Bank. However, ultimately, clients will have the capability to:
- Deposit or withdraw cash in Switzerland with Infinity Capital Switzerland, which will then facilitate the transfer of the client’s cash from or to its Infinity Capital Bank account as the case may be. As the offshore bank has its corresponding accounts in Switzerland the transaction from Swiss Infinity Capital to Infinity Capital Bank is done in a matter of minutes.
Fastest Path to Obtain Your Offshore Bank MasterCard Principal Agreement?
The partner that will handle your application is a professional with a remarkable 20-year tenure at both MasterCard and Visa, holding senior positions in both companies.
His deep and comprehensive knowledge of these leading financial companies is unparalleled. Throughout his career, he has cultivated and maintained direct connections at the management level with both MasterCard and Visa.
This unique insider perspective and network are invaluable assets, especially in navigating the complex landscape of payment processing and financial agreements. His expertise not only spans the operational and strategic facets of these global payment giants but also encompasses a keen understanding of their evolving market dynamics and technological advancements.
How much would it cost:
Buying or starting a license = 750,000 USD or 600,000 USD for a license from scratch
Activating the bank = 300,000 USD (software, office fitting, website, mobile site, corresponding accounts in EU and Switzerland, lite Swift)
Total = from 900,000 USD to 1,050,000 USD depending on whether you buy ready made license or start from scratch
Then you have to pay the capital at 1,000,000 USD but the capital remains with the Bank so not technically a cost
Conclusion: Your Offshore Banking Blueprint
So, there you have it! A comprehensive guide to creating an Offshore Bank with European and Swiss Standards. You’ve got the roadmap – lower costs, streamlined processes, privacy benefits, and the ability to offer top-tier banking services, including those coveted IBANs and a physical Swiss presence. It’s a blend of the best of both worlds: the flexibility and efficiency of offshore banking with the prestige and capabilities of European and Swiss institutions. Time to make those offshore banking dreams a reality! Do not hesitate to contact us for more information about this matter at connect@swissfintechpro.com
