ATRIUM LEGAL LAB LTD

The Experts for your Regulated
Financial Entity


  • Cryptocurrency
    Exchange
  • Estonia
    Cryptocurrency
    Exchange
  • 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

    Expected Timeframe

  • Isle of Man
    Cryptocurrency
    Exchange & Trade
  • Regulatory Oversight as a means of Attracting Business

    Designated Business Registration Policy IOMFSA Changes – 5th October 2018

    How long will an Application take?

  • Ireland
    Cryptocurrency
    Company
  • 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

    Passporting Rights

  • New Zealand
    Cryptocurrency Trade and
    Initial Coin Offering (ICO)
  • New Guidance on Cryptocurrencies and Initial Coin Offering (ICO)

    Exchanges, Wallets, Broking
    Registration and other Obligations

    Initial Coin Offering (ICO)

    ICO Regulation
    Types of Financial Product
    Tokens that are not Financial Products

    Other Obligations
    Fair Dealing and Initial Coin Offers

    FMA Services

  • Foreign Exchange(FX)
    Securities Dealer
    License
  • Seychelles
    Securities Dealers License,
    Forex
  • Seychelles Advantages

    Applying for a Securities Dealers License

    Capital Requirement

    Financial Dealers Licensing Amendments

    Transitional Provisions

  • Vanuatu
    Securities Dealers
    Forex
  • Vanuatu FX Regulation

    List of Securities Covered by
    The Dealer in Securities License

    Key Requirements
    Vanuatu Securities Brokerage Dealer License

    Why Vanuatu Forex License

    How Atrium Legal Lab Can Help You

  • Cyprus Brokerage Services
    Forex Trading License
  • Cyprus Investment Firm (CIF)
    Why Cyprus?

    Cyprus Strategic Advantages

    Cyprus Investment Firm (CIF) License
    Initial Capital Requirements

    Conditions for the Granting of a License

  • E-Money
    Payment Services
    Institutions (EMI - PSP)
  • Mauritius Investment Dealer &
    Broker License
  • Mauritius Investment Dealer & Broker License

    Investment Dealer Categories
    Under the Security Act

    Application and Requirements

    Mauritius Investment Dealer & Broker License
    Advantages

  • New Zealand
    Financial Services Providers
    FSP
  • 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

  • Georgia
    International Financial Company
  • Benefits of Republic of Georgia -

    Setting up an International Finance
    Company in Georgia

    License Application
    Documents, Requirements and
    Expected Timeframe

  • Financial Holding &
    Private Asset
    Management
  • BVI Hedge Funds
  • Funds in the British Virgin Islands
    Fund Structuring

    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)
  • Luxembourg Private Asset Management Company (SPF) - The Concept

    Permitted and Prohibited Activities of a Luxembourg SPF

    Luxembourg SPF
    Capital Requirement and Supervision

    Luxembourg Private Asset Management (SPF)
    Advantages

  • Luxembourg
    Holding & Finance Company
    SOPARFI
  • Luxembourg SOPARFI (Société de Participations Financières) - The Concept

    Why Luxembourg?

    Luxembourg Holding (SOPARFI)
    Advantages

Georgia e-Money Payment Provider License
If you are looking for the lowest possible entry point
For authorized payment institution (PSP) or
Electronic Money Institution (EMI)
With lighter requirements than in Europe or US
Georgia will be the right Choice
Georgia Benefits as a Banking Destination

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

Georgia PSP License
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).

Setting up a Georgian Payment Services Provider (PSP)
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.

Step 1
Documents setup

Submit a simple high-resolution passport scan and the Due Diligence Questionnaire to info@tba-associates.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.

Step 2
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.

Step 3
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.

Step 4
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.

Bank Account Opening

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.

Atrium Package Inclusions

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
Shareholder/owner declaration
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
On-going support
Translation work for all documents (required)
Translation of foreign personal documents from English into Georgian and Georgian into English.

Expected Timeframe to complete the whole process

Approximately 3-4 months until approval.

Our Fintech Practice

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.

Should you have an enquiry
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

Send us your message Now!
Legal disclaimer

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.