The Puerto Rico Office of the Commissioner of Financial Institutions (OCIFI) is expected to implement new international banking regulations in 2024. The regulations are designed to improve financial transparency and to prevent money laundering.Some of the key provisions of the new regulations include: Enhanced customer due diligence: Banks will be required to conduct more extensive customer…

In this post, I’ll look at the requirements to set up an international bank in the Bahamas. This jurisdiction is looking to make a comeback after the FTX mess and needs one or two big time successes as soon as possible in the international banking industry. When I talk about an international banking license, or an…

In this post, I’ll look at setting up a Swiss Crypto Exchange or fintech business using a fintech license or as a Qualified Intermediary. It is also possible to operate as a full bank in this capacity, but this is beyond the scope of this article.  Introduction Operating a cryptocurrency exchange in Switzerland involves dealing…

Here’s a guide on how to purchase a state or nationally chartered bank in the United States, especially when involving non-US shareholders or investors. Step 1: Set Up a Bank Holding Company A Bank Holding Company (BHC) is essentially a parent company that owns or controls banks and other subsidiaries. Setting up a BHC is…

In this post, I’ll look at the requirements and suggested path to buy a bank in the United States. The purpose of this article is to give you guidance on the process, costs, timeframe, and license types available when looking to purchase a bank in the United States. Note that most of my articles cover topics…

I usually write about mid-tier or lower-tier international banking licenses. In the middle of the market, we have the US territory of Puerto Rico with Bermuda coming up fast.  In this post, I’ll look at the top-tier banking jurisdictions. If you enjoy the following article, you might also like to review the differences between Puerto Rico…

Bermuda is poised to become the top international bank license in 2024. The island has a number of advantages that make it an attractive destination for banks, including a stable political and economic environment, a sophisticated financial services industry, and a well-developed regulatory framework.Bermuda is poised to become the top international bank license in 2024….

The Canadian financial services market is growing rapidly. This has a great effect on the economy of the state, and a lot of foreign businessmen want to open their companies there. In Canada, such instruments of consumer protection and finances are laid down, making them attractive to foreign investors. In this regard, the investors are…

Why choose the Canadian MSB license:  Canada has a large banking network with various reputed banks present in their eco-system. For maintaining the financial system in Canada banks as well as their financial sector plays an important role. The ecosystem is so vast and developed that many entrepreneurs from all around the world intend to…