Commonwealth of Dominica Bank License for sale
For those looking to start offshore bank business and due to the scarcity of bank for sale we can offer the next best thing that is to say either a Commonwealth of Dominica Bank License for sale or a Pre-approved bank license in Commonwealth of Dominica. Do not hesitate to contact us for more information at connect@swissfintechpro.com
I: Fully Approved Bank License
We have a fully approved Commonwealth of Dominica Bank License for sale and ready to issue bank license for sale. Our client find itself unable to pursue the project following a dispute with his investors and is reselling the company and approved license
The bank license is inclusive of
- Company
- Bank License
- Office Lease
- Bank license fees for 2021
- Company maintenance fees for 2021
- Full banking Software and website (to be installed)
- Corresponding Bank account with Swiss Bank (to be opened)
- Corresponding Bank account with EU bank (to be opened
- Assistance with swift application (not including swift fees of 10,000 USD for lite cloud swift)
- Change of shareholders
- Add buyer as director
- Due Diligence fees for 1 person (10K USD)
- Update of bank license application and supporting documents
Selling Price 800,000 CHF capital not included
All there is to do in order to complete the process is
- The Statutory capital of US$ l,000,000 to be transferred and placed on deposit at a commercial bank in Dominica, or otherwise held in a manner approved by the Financial Services Unit, Ministry of Finance with a foreign bank. (at this stage all that is needed is to prove that the buyer has the capital on its bank account)
- Formal engagement of a general manager and at least two Dominican nationals as bank employees;
- Update the business plan to match with your project
- For the buyer to do the due diligence which will takes 4 to 5 weeks
So, what would be left to pay to activate the bank would be
One off Expenses
- Swift application = 10,000 CHF of fees payable to Swift for Swift Lite Cloud version, we assist with preparing application free of charge
- Software and Website = 55,000 CHF if you purchase all modules
- Fitting office + furniture = from 25,000 to 50,000 CHF
Monthly expenses
- Renting office = 1200 CHF per month = in general 3 to 6 months deposit may be requested plus rental paid per trimester in advance ( 3 month of guarantee + 3 month rental payable in advance) = 6000 to 7,200 CHF
- Hiring local Employee: 2 Employees at 2500 CHF to 3000 CHF per month
Do not hesitate to contact us for more information atconnect@swissfintechpro.com
II: Pre-approved Bank License
My partner lawyer in Commonwealth of Dominica has incorporated a company and filed a request for pre-approval of a bank license and a trust license
The pre-approval for an Offshore Banking & Trust License has been granted by the FSU early 2020 to an applicant for conducting offshore banking and trust business in Dominica.
The pre-approval of the FSU is subjected to the following conditions:
- Full compliance with the regulatory regime governing the offshore banking and trust sectors in Dominica;
- Complete due diligence on the shareholder of record;
Our fees
inclusive of the purchase the corporation holding the pre-approval and to complete the bank license application process would be 695,000 CHF for a license from scratch. That is to say a 100,000 Euros discount by comparison to our fees for a license from scratch. In addition, we would include in the price of 775,000 Euros for 100,000 of various costs and discounts as follows)
Price would furthermore be inclusive of:
- FSU and company registration Fees for 2020 = 12,000 USD
- FSU and company registration Fees for 2021= 12,000 USD
- Due Diligence costs for 3 persons = 27,000 CHF
- Assistance with the opening of a corresponding bank account with Swiss corresponding Bank shall be provided free of charge –
- Assistance with the opening of a corresponding bank account with EU corresponding Bank shall be provided at a discounted fee 20,000 CHF
Terms of Payment
- Deposit 395,000 CHF
Upon License Ready to File 150,000 CHF - Upon License Issuance 150,000 CHF
While you are going through the DD process we would proceed as follows
- Change the name of the corporation to reflect the name you want to use for the bank license
- Prepare the AML, KYC Manual
- Assist you with the preparation of the application file (note however that part of the application requires to complete documents with personal information (this you will have to do) any other documents we will prepare for you
- Provide you a business plan and xl file template, help you draft the supporting part of the business plan (meaning the written explanation part) and review and correct your xl financial part of the business plan
Upon completion of DD we would be ready to file immediately the application with FSU that could then process with the issuance of the license
- Follow up with the FSU until completion of the application
So what would be left to pay to activate the bank would be
One off Expenses
- Swift application = 10,000 CHF of fees payable to Swift for Swift Lite Cloud version, we assist with preparing application free of charge
- Software and Website = 55,000 CHF if you purchase all modules
- Fitting office + furniture = from 25,000 to 50,000 CHF
Monthly expenses
- Renting office = 1200 CHF per month = in general 3 to 6 months deposit may be requested plus rental paid per trimester in advance ( 3 month of guarantee + 3 month rental payable in advance) = 6000 to 7,200 CHF
- Hiring local Employee: 2 Employees at 2500 CHF to 3000 CHF per month
Do not hesitate to contact us for more information on our Commonwealth of Dominica Bank License for sale at connect@swissfintechpro.com
