Start a Bank For Less Than You Think - Hedge Fund Managers and Entrepreneurs Pay Attention
Have you ever dreamed of owning your own bank? Well now with the changes in New Zealand banking laws and the modern software applications available, what was once an impossible dream for everyone but the most powerful and rich, can now be a reality for the majority of us.
And for much less money than you might think.
And it can be very profitable as well.
If you can afford to buy a small franchise, then you can afford to own and run your own bank.
Not only that, but you can even run the entire operation yourself all out of your home or office.
A New Zealand Offshore Finance Company (OFC) can be used to offer financial and investment services to customers worldwide.
An OFC can offer virtually anything a fully licensed bank can offer.
The word "bank" cannot be included in the name, however there are acceptable alternatives, such as "Bancorp" and "Bankgroup".
A greater number of business owners and entrepreneurs are using OFC's for loans to their clients, issuing debit and credit cards, checking and savings accounts, wire transfer services, fund management, payment processing services, hedge funds and virtually everything else that a bank can offer.
o Deposit taking & lending o Debit and credit card services o Issuing of financial guarantees and instruments o Cash management services o Current accounts o Checking accounts o Savings accounts o Term deposits o Issuing of CDs o Wire transfer services o Payment processing services o Fund management o Marketing of investments With all of the complicated restrictions and initial financial hurdles that are required to set up a United States bank, most people shy away from the idea.
However with a New Zealand OFC, there is no capital reserve amount required and it's far less complicated than setting up an actual United States bank.
A bank, for example, will often need a $1 million to $30 million reserve account before licensure.
The OFC does not require this.
Directors and shareholders can be of any nationality and reside anywhere as well.
"Who would have ever thought they could turn something as complicated as creating a bank into what could best be described as a simple turn-key service", remarks Kevin Wessell, CEO of Offshore Company.
"Take away the complicated restrictions, remove the multi-million dollar reserve requirement and provide all the assistance to start it up and running and you can see why so many business owners and entrepreneurs are doing this"
And for much less money than you might think.
And it can be very profitable as well.
If you can afford to buy a small franchise, then you can afford to own and run your own bank.
Not only that, but you can even run the entire operation yourself all out of your home or office.
A New Zealand Offshore Finance Company (OFC) can be used to offer financial and investment services to customers worldwide.
An OFC can offer virtually anything a fully licensed bank can offer.
The word "bank" cannot be included in the name, however there are acceptable alternatives, such as "Bancorp" and "Bankgroup".
A greater number of business owners and entrepreneurs are using OFC's for loans to their clients, issuing debit and credit cards, checking and savings accounts, wire transfer services, fund management, payment processing services, hedge funds and virtually everything else that a bank can offer.
o Deposit taking & lending o Debit and credit card services o Issuing of financial guarantees and instruments o Cash management services o Current accounts o Checking accounts o Savings accounts o Term deposits o Issuing of CDs o Wire transfer services o Payment processing services o Fund management o Marketing of investments With all of the complicated restrictions and initial financial hurdles that are required to set up a United States bank, most people shy away from the idea.
However with a New Zealand OFC, there is no capital reserve amount required and it's far less complicated than setting up an actual United States bank.
A bank, for example, will often need a $1 million to $30 million reserve account before licensure.
The OFC does not require this.
Directors and shareholders can be of any nationality and reside anywhere as well.
"Who would have ever thought they could turn something as complicated as creating a bank into what could best be described as a simple turn-key service", remarks Kevin Wessell, CEO of Offshore Company.
"Take away the complicated restrictions, remove the multi-million dollar reserve requirement and provide all the assistance to start it up and running and you can see why so many business owners and entrepreneurs are doing this"