Michael Magnusson

The Land Without a Banking Law: How to Start a Bank with a Thousand Dollars Michael Magnusson

Would you like to start your own Online Bank and offer banking services to clients worldwide? Although the total investment required for setting up a banking business, just as any other business, obviously varies depending on the business model, it is quite possible to form and register a business entity with full legal capacity to offer banking services, for a total cost of less than one thousand dollars, just as the perhaps somewhat controversial subtitle of this book indicates. While there are laws in New Zealand regulating financial activities, there are no regulatory entry barriers as such for the business of banking when services are offered to non-residents only (offshore). This book will teach you how to register a New Zealand business entity online with legal capacity to offer banking services to any number of clients, resident anywhere in the world. Step by step instructions are included. The regulatory framework and upcoming changes to the relevant legislation are explained.