Banking License | Law&Trust International

Banking Licenses

Banking license is unified state document that entitles to conduct banking activities.

These include granting of credits, raising funds for deposits, currency transactions, conducting payments through bank accounts, etc.

Offshore Bank License

Law&Trust International has been providing assistance for companies in acquiring banking license, including in the offshore zone, for many years. We guarantee comprehensive support to companies that are interested in obtaining license for conducting banking facilities in the following countries: Australia, Belize, Great Britain, Hungary, Germany, Cyprus, Latvia, Lithuania, Malta, New Zealand, Panama and the Czech Republic.
In case of availability of banking license, you are legally entitled to conduct banking transactions. Moreover, it does not matter whether you are going to accept deposits and grant loans, or you will only provide services for VIP clients.

Term of Banking License

It should be taken into account that banking license is issued without limiting its term of validity. However, the foregoing does not mean that it is issued once and for all and its operation can not be terminated. There is such concept as revocation of license. In certain cases, the license can be revoked by the Central Bank of jurisdiction that has issued the above license in due course.

There are the following grounds for revoking banking license:

  • - Failure to comply with the Central Bank's regulations or other serious violations;

    - The capital adequacy of the credit institution ceased to exceed the threshold of 2%;

    - The credit institution is incurring deficit of funds and certain miscellaneous factors.

    In the event of taking decision to revoke license, the Central Bank appoints interim management to resolve administrative issues. After that the bank can be voluntarily liquidated or declared bankrupt. However, the abovementioned situation happens rarely enough.

    No such incidents occur in case of responsible and conscientious doing business, and banking license serves its owner for many years.

При ответственном и добросовестном ведении бизнеса подобных казусов не случается, а банковская лицензия долгие годы служит своему владельцу.

How To Obtain Banking License?

Banking licenses are issued by the regulatory authority of jurisdiction in which you established your bank. In order for you to have license for banking activities, it is necessary to go through long-term and complicated procedure, which primarily involves filing an application.

Banking licenses are divided into different categories, and the terms and procedure for obtaining license depend on the foregoing categories.

Numerous banking specializations include card and settlement services, provision of retail services, cash and fund management, trade finance and others.

The most expensive and time-consuming process is obtaining package license combining all the services listed. However, you can apply for obtaining specialized banking license, which is aimed at providing only one banking service.

There are many reasons according to which companies tend to obtain offshore banking license. But the main advantage is time-efficient consideration of the application for obtaining banking license and relatively flexible system of requirements for establishment of a bank in the offshore zone.

If you are interested in obtaining offshore banking license, please contact us. Law&Trust International conducts preliminary consultations with the purpose of clarifying the needs of clients and providing them with the necessary legislative and practical information.

By having timely consultation with our specialists, you will save time for preparing documents and avoid financial losses. If the above advice is not sufficient for you, then we will undertake the entire process of obtaining banking license. We will work in order to obtain fully fledged license for you.

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