ATRIUM LEGAL LAB LTD
The Experts for your Regulated
- Isle of Man
Exchange & Trade
- New Zealand
Cryptocurrency Trade and
Initial Coin Offering (ICO)
- Foreign Exchange(FX)
Securities Dealers License,
- Cyprus Brokerage Services
Forex Trading License
Institutions (EMI - PSP)
- Mauritius Investment Dealer &
- New Zealand
Financial Services Providers
International Financial Company
- Financial Holding &
- BVI Hedge Funds
Private Asset Management
Holding & Finance Company
Estonia, a new European Crypto Market -
Starting a Crypto Currency Company in Estonia with Exchange and Wallet Service Provider License
Key points for Cryptocurrency Company structure
Regulatory Oversight as a means of Attracting Business
Designated Business Registration Policy IOMFSA Changes – 5th October 2018
How long will an Application take?
Open a Cryptocurrency Company in Ireland
Why Register a Bitcoin Company in Ireland?
Cryptocurrency Regulation 2019 Taxation
Anti-Money Laundering Requirements
Ownership and Licensing Requirements
New Guidance on Cryptocurrencies and Initial Coin Offering (ICO)
Exchanges, Wallets, Broking
Registration and other Obligations
Initial Coin Offering (ICO)
Types of Financial Product
Tokens that are not Financial Products
Fair Dealing and Initial Coin Offers
Applying for a Securities Dealers License
Financial Dealers Licensing Amendments
Vanuatu FX Regulation
List of Securities Covered by
The Dealer in Securities License
Vanuatu Securities Brokerage Dealer License
Why Vanuatu Forex License
How Atrium Legal Lab Can Help You
Cyprus Investment Firm (CIF)
Cyprus Strategic Advantages
Cyprus Investment Firm (CIF) License
Initial Capital Requirements
Conditions for the Granting of a License
Mauritius Investment Dealer & Broker License
Investment Dealer Categories
Under the Security Act
Application and Requirements
Mauritius Investment Dealer & Broker License
Advantages to be Licensed in New Zealand
As a Financial Services Provider (FSP)
NZ FSP Registration
Who needs to be licensed?
New FMA Role
New Zealand FSP Registration
What you need to Obtain FSP Registration
NZ FSP Registration
Timeframe to Complete this process
Benefits of Republic of Georgia -
Setting up an International Finance
Company in Georgia
Documents, Requirements and
Funds in the British Virgin Islands
British Virgin Islands
Registration of an Investment Fund
BVI Incubator and Approved Fund
BVI Hedge (Incubator) Funds
Limited Functionary Requirements
Luxembourg Private Asset Management Company (SPF) - The Concept
Permitted and Prohibited Activities of a Luxembourg SPF
Capital Requirement and Supervision
Luxembourg Private Asset Management (SPF)
Luxembourg SOPARFI (Société de Participations Financières) - The Concept
Luxembourg Holding (SOPARFI)
For authorized payment institution (PSP) or
Electronic Money Institution (EMI)
With lighter requirements than in Europe or US
If you are looking for a bank destination for Asset Protection purpose that still respect your privacy, then the Republic of Georgia is definitively the right option.
- License issuing authority is the Ministry of Finance of the Republic of Georgia
- Applicants can benefit of some of the most liberal banking and e-money processing laws worldwide, especially in on-boarding foreign customers and payment flows
- Georgia is NOT member of the European Union but adapted certain parts of European regulation and legislation; but kept their own local laws in order to protect the domestic financial industry to avoid over-regulation
- Georgia is a not yet an OECD Member, but filed Membership application
- Georgian banks are the most flexible in customer support, service, fees, compliance issues in the Middle East and Europe
- Banks are connected to the IBAN Network and fully SWIFT Members (no intermediary banks needed for your customers to send you funds!)
- Due its location Georgia is geo-strategically perfect to establish a business and connect East to West
- Georgia is attractive for European or in general worldwide incorporators and license obtainers.
- Georgia benefits of an excellent reputation as a modern financial market place, that allows to serve offshore & overseas clients
- Minimum requirements concerning offices, directors & staff (you'll benefit of very low on-going costs)
- Customers of your entity will enjoy a maximum of privacy - no regulated or automated data exchange of account holder data
- You may conduct all FX-related activities (Binary Options, CFDs, Commodities, Shares, Equities, Bonds, etc.);
- Securities Deposit / Capital Requirements - not applicable
- Tax liability – nil
Payment Services Provider
Authorised Financial Activities
Under Authorized Payment Institution or Electronic Money Institution License in Georgia (PSP) you may offer the following services:
Service, which ensures cutting the funds from the payers account and related operations.
Service, which ensures transfer of the money on the receiver’s account and operation related to it.
Carrying out of the payment in the amount deposited on the account holders account via direct debit (including one-time order) via other payment cards or other electronic means or via credit transfer (including permanent order).
Making payment in the credit amount issued on the account holders account via direct debit (including one-time order), via other payment cards or other electronic means or via credit transfer (including permanent order).
Issuance or acquiring of payment instruments including electronic money instruments Money transfers.
Issuing electronic money, making money payments via electronic money, telephone, internet and via other electronic means.
Based on the confirmation of the payer which was obtained by tele-communication, digital or informational technologies, carrying out payment operation to that network operator or for the benefit of such operator which acts as the intermediary between the payer and the receiver, between customer and service/goods provider
Georgia offers one of the most inexpensive option available anywhere in the world for setting up an Authorized Payment Institution or Electronic Money Institution License. Payment Service Provider License for Authorized Payment Institution or Electronic Money Institution is regulated in Georgia by the National Bank of Georgia (NBG).
Requirements, Procedures and Timeframe
Atrium Services - Inclusions
Any company registered in Georgia can apply for a Payment Service Provider License for Authorized Payment Institution or Electronic Money Institution, it's mandatory to have an operational office and a local manager/director in Georgia; and the Georgian company is expected to meet certain requirements, prescribed by the NBG such as:
- Directors of the company should have proper knowledge and expertise in the business that the company is planning to carry on.
- Shareholders of the company must ensure proper capitalization of the company. There is not minimum paid- up capital to be fully paid.
- The application should be supported by certain information, including: the business plan, projected financial forecasts for the first year, Anti-Money
Laundering and Customer Acceptance Policies.
Submit a simple high-resolution passport scan and the Due Diligence Questionnaire to email@example.com. Our Georgian lawyer will prepare the POA. With this document and your passport, you visit your local Notary Public and let them certify as True Copies of the Originals. Courier then all originals to the address of your legal partner in Georgia that we will provide you.
Company Incorporation and Documents setup
The company formation takes usually one week (European standard) until all filed documents are available and the company is entered in the register. The legal partner in Georgia that operates via POA is responsible for the bank account openings and corporate setup. The same way, the preparations of the business description in Georgian language, the setup of application forms and all relevant information in order to become a PSP will simultaneously take place.
Application with Ministry of Finance/Revenue Services
Your application will be submitted to the Ministry of Finance / Revenue Services. Usually within 3-4 weeks you should receive the license certificate with your unique identifier number that permits to get all activities started.
License Approval and Account Opening for the
Licensed Payment Services Provider (PSP) in Georgia
Lawyers will pick up the issued license certificates for you. The bank account opening has been successfully terminated and banking documents like debit cards, digipass, etc. will be sent in sealed envelopes via courier service (FedEx or UPS) to you. The corporate documents are also to be shipped in original to you incl. the translations into English.
You can open bank accounts for your licensed Georgian IFC anywhere in Georgia. A SWIFT connected IBAN account in the name of the company as account holders are already included - also Debit Cards for the owners of the company.
If you wish to execute SEPA payments within the European Union, we can introduce you to a partner Payment Service Provider in the Czech Republic to do these transfers via their platform from €3,00 per transfer.
Remotely formation of a Georgia Company;
Power of Attorney to set-up the company remotely
Power of Attorney to launch the application and correspondence
On-going management with the Ministry of Finance
Registered Office Fee for the first year
Appointment of director(s)
Set-up business description
Preparations before business license application has been launched
Launching of the application
Bank account opening in Georgia
Translation work for all documents (required)
Translation of foreign personal documents from English into Georgian and Georgian into English.
Approximately 3-4 months until approval.
Our lawyers and financial services specialists at ATRIUM LEGAL LAB provide solutions to clients by combining the traditional legal fabric with new technologies.
If you would like more information as to how setting up of an e-Money Payment Provider License ICO, a cryptocurrency exchange, or alternatively would like to set up a Crypto Fund in Georgia, we welcome you to get in touch with our specialists.
You would like to discuss with us
You can either call or email us.
One of our Customer Representatives will be most pleased to help and assist you
The information and materials contained in this website do not constitute an offer, invitation, solicitation, advice or recommendation to buy the products and services offered and rendered by Atrium Legal Lab Ltd and shall be applied with prior consultation.
Atrium Legal Lab Ltd does not offer legal or tax advice without consultation with certified professionals with related appropriate skill and expertise.
The information contained in this website is for general guidance on matters of interest only and should not be considered as guidance for financial or tax decisions, or a substitute for specific professional consultation.
While we have made every effort to ensure that the information contained in this website is accurate and correct due to constant changes in laws, rules and regulations Atrium Legal Lab (BVI) Ltd accepts no liability for any loss or damage arising directly or indirectly from action taken or not taken relying on the information contained in this website. In particular no warranty is given as to the completeness, accuracy, reliability of such information and as to whether it is at all times up to date.
Atrium Legal Lab Ltd accepts no liability for any loss or damage direct or indirectly arising from the application of any information contained in this website, including any loss, damage or expenses arising from, but not limited to, any defect, error, mistake, inaccuracy, reliability of this website, its contents or related services, or due to any unavailability of this Site or any part thereof of any contents or related services.