programs for US and international banks, card issuing & acquiring, and Fintechs
structuring, licensing and regulation of banks and fintechs globally
specialists in bank licenses and regulated entities worldwide including Puerto Rico
In a big moment for Puerto Rico’s financial sector, Nave Bank, thas obtained authorization from the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Puerto Rico Office of the Commissioner of Financial Institutions (OCIF) to initiate operations. This approval is especially significant as it marks the establishment of the first new domestic bank […]
In this 13 page post, I’ll look at the requirements and suggested path to buy a bank in the United States. The purpose of this article is to give you guidance on the process, costs, timeframe, and license types available when looking to purchase a bank in the United States. Note that most of my […]
Introduction to Common Reporting Standards (CRS) The Common Reporting Standard (CRS) is an information standard for the automatic exchange of information (AEOI) regarding bank accounts on a global level, between tax authorities. The aim of the CRS is to combat tax evasion. It was developed by the Organization for Economic Cooperation and Development (OECD) and […]
In this post, I’ll look at the requirements to set up an international bank in the Bahamas. This jurisdiction is looking to make a comeback after the FTX mess and needs one or two big time successes as soon as possible in the international banking industry. When I talk about an international banking license, or […]
St. Kitts and Nevis Citizenship by Investment Program (CIP), one of the most coveted in the world, has taken a dramatic turn that has caught the attention of global investors. In its most significant shift since inception, the CIP has made urgent and immediate changes. This pivotal adjustment is part of St. Kitts and Nevis’ […]
The IRS is targeting individuals who have taken advantage of tax incentives under Puerto Rico Act 20, 22 and 60, which exempts from taxation certain business and investment income of recently relocated Puerto Rican residents. The IRS has intensified its focus on individuals who may be erroneously reporting US source income as Puerto Rico source […]
In this 26 page post, I’ll review each of the top international bank license jurisdictions in 2023. There have been many changes to the industry since I last wrote on this topic in 2020. Here’s everything you need to know about the international bank license industry in 2023. Note that this is an article about […]
Setting up a cryptocurrency exchange or an Exchange-Traded Fund (ETF) in the United States can be challenging due to the regulatory environment. The U.S. Securities and Exchange Commission (SEC) has been reluctant to approve Bitcoin ETFs and has called recent applications inadequate. They believe that these applications have not been specific enough about how they […]