HomeBusinessChallenges Running a Financial Business During Covid Lockdown and Brand-New Solutions on The Market
Challenges Running a Financial Business During Covid Lockdown and Brand-New Solutions on The Market
November 22, 2020
Many entrepreneurs who have sufficient funds are ready to start doing business in the banking sphere. To do this, the future owners of financial institutions must acquire a bank and obtain a license that permits them to carry out the relevant activities. If the issue of acquiring the institution itself can be resolved more or less quickly. Then certain difficulties arise with obtaining a license.
With a banking license, you get the legal right to carry out banking operations. Moreover, it doesn’t matter if you are going to accept deposits and issue loans, or you will only serve VIP clients. Today it is quite difficult and costly to obtain a financial license in a reliable jurisdiction. Banking institutions are very much infringed, so their activities are subject to strict control, which in turn choke off newcomers. Furthermore, if wealthy businesspersons are ready to reconcile with financial costs. Then they obviously do not want to put up in order to wait for a license for many months. Indeed, the procedure for obtaining a banking license in Europe can take from several months to a couple of years. Which could lead to certain difficulties.
It is much more profitable to purchase a ready-made banking or any other financial institution that has the necessary license to conduct business. Here no one can reach his/her goal without the help of specialists. For resolving this situation, you have to make the right choice and be acquainted with lawyers who are real professionals in this sphere.
My experience was built on the fact of making a deal in needed times with international legal practice Eternity Law, which successfully promotes its services in the relevant market. With offices around the world including Zurich, London, New York, and other reputable cities. With more than 100 lawyers cooperating across the globe, this company offers many ready-made companies for sale. In addition, the firm provides comprehensive support to companies that are interested in obtaining a license to carry out banking operations in Switzerland, Australia, Great Britain, Lithuania, etc.
The most attention is paid to the choice of a reliable jurisdiction. Because it determines how strong and durable the business structure will be in the future. The choice was made in favor of Switzerland, which has always been one of the most reliable, prestigious, and respected jurisdictions. Moreover, Swiss companies offer super-functionality: a smart combination of all the necessary options, good banking software + all the necessary bonuses in the form of issuing cards, working with cryptocurrencies, precious metals, etc. However, it is so difficult to obtain a financial license in this country. That many entrepreneurs often back down and choose the “simpler” option to purchase a ready-made one.
Now it is strong confidence that actual specialists do not avoid difficulties and take on the most difficult transactions. Even during quarantine measures so Eternity Law offered to purchase a ready-made multifunctional company that had the appropriate dual supervision asset management license from the Swiss jurisdiction. Among the activities that the new owner is able to work with are the following:
unlimited electronic money transfer from user to user;
unlimited prepaid debit Mastercard;
EU IBAN bank accounts, incoming and outgoing wire transfers from the EU and international banks;
instant currency exchange (Forex);
unlimited cryptocurrency trading platform, etc.
The Swiss company holds a perpetual banking platform software license. The advantage is the absence of monthly software license fees. The process of transferring a company takes very little time. As no regulatory approval is demanded a business to change ownership.
Eternity Law specialists will help the entrepreneur to contact the seller and conclude a transaction, thereby greatly simplifying the process of acquiring a financial institution in Switzerland. The company can be re-registered even in one day. This procedure significantly saves time.
The UK is considered another reliable and respectable jurisdiction. Despite Brexit, it is gaining momentum in the sales and purchases of companies with EMI (electronic money institution) licenses. Which allows working with Europe and has a large number of advantages. It takes a year to wait for a new license in the UK. But everyone can reissue the finished version in 2 months.
The offer advertised by a law firm recently for sale was AEMI in the UK, which is licensed in all EEA countries. The company is one of the main members of MasterCard and issues VISA cards. In addition, the firm has developed its own payment processing software with full compliance automation (KYC, KYB, AML). This brand is registered all over the world; therefore, the company can carry out international operations. This is a completely ready-to-use institution. Eternity Law staff will provide the potential buyer with the necessary assistance and support during the transfer of the company.
This company for international business support with a large arsenal of knowledge and partners around the world has received more than 30 licenses of payment institutions in the UK. The firm has a large base of companies, banks, and payment institutions for sale. Companies registered in Switzerland are in good demand. So agree that Eternity Law employees select the best option for each client, based on the wishes and related conditions.
Eternity also has companies and banks for sale in Europe and offshore jurisdictions, banks for sale in Poland, Germany, and many other countries, companies with MSO licenses in Hong Kong, SVF licensed Singapore companies, and much more. In any case, each buyer will be able to find something for himself/herself, and experienced specialists will assist the future entrepreneur in implementing his/her business plans. Respect for the professional team who made a pleasure for me for obtaining business in short and legally precise terms.