Starting your own bank costs less than you think and can be operated as a bank and/or hedge fund.
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Starting your own bank costs less than you think and can be operated as a bank and/or hedge fund. After 10 years, 97% of banks are still in business. With the major U.S. banks failing due to large overhead and risky sub-prime mortgage loans, you can run a much safer, profitable bank out of your home or home office. A simple one person "turn-key" operation.
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 a dream can now be a reality. And for much less than you might think. 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 and virtually everything else that a bank can do.
• Deposit taking & lending
• Debit and credit card services
• Issuing of financial guarantees and instruments
• Cash management services
• Current accounts
• Checking accounts
• Savings accounts
• Term deposits
• Issuing of CDs
• Wire transfer services
• Payment processing services
• Fund management
• 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”.
For more information about starting your own bank, offshore corporation or offshore banking services, contact Offshore Company at: 1-800-959-8819 or visit http://www.offshorecompany.com/company/new-zealand-finance/index.asp
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