Planning to start a bank?

[italkcash]

Well it looks like these gentlemen are offering a service right here: Banking 4 Bankers

But then again, I think this has to be checked deeply. It is afterall a bank you are setting up, and not an Egold account. But surely the idea is good, lets you take peoples money and invest them however you like it.

[titaniumhijau]

Own a Bank

Most jurisdictions impose heavy regulation on the banking sector and entry requirements are often designed to discourage the establishment of new banks. One refreshing exception is New Zealand, a highly respected jurisdiction with a modern legal framework and rated the most business friendly nation in the world by the World Bank in 2005. Banking services can be offered in and from New Zealand by different types of entities, including but not limited to Registered Banks, Finance Companies, Credit Unions and Building Societies. We focus on the New Zealand Finance Company which is not subject to supervision by the Reserve Bank of New Zealand and yet entitled to offer banking services to its individual and corporate customers worldwide. With your own banking business you are legally able to engage in activities such as:




· Deposit taking and lending

· Offering of securities

· Issuing of financial guarantees

· Cash management services

· Payment services

· Current accounts

· Checking accounts

· Savings accounts

· Term deposits

· Certificates of deposit

· Wire transfer services

· Credit and debit card services

· Marketing investments

· Share brokerage

· Fund Management


We offer a complete service package including:



· Finance Company entitled to operate as a bank

· Certified Company documents and Company seal

· Registered office and resident agent

· All relevant government filings

· Registration of securities

· Approved Issuer Status

· NexorOne™ Online Banking System


· Eurowire™ membership and setup fee



A new Finance Company can be legally formed and registered in as little as 72 hours (not including additional government filings). A Company name can usually be secured within 12 hours. The Company is required to have a minimum of one director and one shareholder. Directors and shareholders can be legal entities or physical individuals of any nationality and resident anywhere in the world. The Finance Company cannot offer securities to the public of New Zealand without a registered prospectus, a supervisory trustee and the use of investment statements as per the requirements of Part II of the Securities Act 1978.




The annual tax rate on reported profit is 33%. In addition a 2% levy is paid by the Finance Company on interest payments made to non residents of New Zealand. Taxes can be minimized by adding an additional offshore entity to the structure which would be used to invest funds from the Finance Company. Please contact us for further information about requirements and pricing.

Read the rest here

Ehm, interesting. But i need to see anyone who already try them first..

[buaya]

Originally Posted by italkcash

Well it looks like these gentlemen are offering a service right here: Banking 4 Bankers

But then again, I think this has to be checked deeply. It is afterall a bank you are setting up, and not an Egold account. But surely the idea is good, lets you take peoples money and invest them however you like it.

First, you must have a lot of money to start a bank. It takes more captial than starting a business. And you almost would not be able to take up loans to fund your start-up banks. I did think most of us cannot afford to allocate millions of dollar to run a bank, can't we?

[cheer]

Besides having the capital to operate a bank, then you need to know the procedure. It will then up to a country to decide whether you need that much of banks or incorprorate those small banks into the existing giant banks. Too many banks in fact not a healthy sign to a country. This is why our government here has taken a step to resize banks here due to deprecition of exchange rate here in 2001. Do you know when I went to Taiwan and when I asked the taxi driver there how many banks available there, he himself told me till today he still didn't know how many banks available there.

[italkcash]

Another great resource for starting a bank: StartABank.com

[kereta06]

I think fisrt we must get the permission from goverment to open the bank. If not we cannot proceed

[italkcash]

Oh not at all. Starting a bank is not much different that starting a company offshore. You just need more money and more time to setup everything.
Basically what you are saying is that you cannot conduct a banking business in your own country, which does not matter as you can do an online bank. All it requires is that you know how to run your bank so that it seems like an interesting venture for companies and investors.

[Samanosuke_04]

But to start a bank, we need to be a managers, and hire workers such as accountant, security and yada3... haha, just thinking these things makes me give up already on opening a bank, plus, you also have to deal with many other companies and the government to get an agreement or permission to do certain things...

[mausyo]

It's not really easy to sart a bank. Not everyone can do that. You need to have lot of money or else you will remain without money to borrow to your clients. Plus of that they are to many baks this days. I evend have streets in my town with some banks one next to other. But where's the fun ? If you don't have shops to buy somehting with the money borrowed.

[zapper]

Originally Posted by italkcash

Oh not at all. Starting a bank is not much different that starting a company offshore. You just need more money and more time to setup everything.
Basically what you are saying is that you cannot conduct a banking business in your own country, which does not matter as you can do an online bank. All it requires is that you know how to run your bank so that it seems like an interesting venture for companies and investors.

Though we wouldn`t need any office space and all that stuff to start an online bank, we ought to consider several situations and anticipate worst-case scenarios and simulate risk management. Take for example, the Payment Processor "Liberty Reserve", that started small, but had to undergo lots of problems before perfecting the art of banking. Even recently, LR was challenged by a group of hackers who tested several zombie attacks (DDoS) on the LR servers. They still managed to tighten the security and eliminate the attackers. On the other hand, Another Payment processor "CEPCoast" got eradicated because of poor money management... There`s lot more to talk when it comes to setting up an internet bank...