Our Approach

 

Our licensing approach is split into four phases:

1. Discovery
2. Pre-application
3. Post-application
4. Post-licensing


Discovery

Our starting point is always to clearly understand your objectives. Based on your outcomes and objectives we provide varied options. These consist of corporate structures, licensing opportunities and jurisdictional analysis. Once you have agreed on an optimal direction, we work with you on execution.


Post-application

If you are an existing regulated business then you will have relevant documentation. We aim to ensure that any new policies and procedures do not create unnecessary operational requirements by finding efficiencies where possible. Outsourcing technology maintenance and customer services to your existing business, for instance, may be an avenue that we will investigate. We will need to understand how your regulated business is currently run, so that any adaptations required for a new market are as efficient as possible.

We review all existing documentation you may have, whether business plans, internal control system documentation, marketing plans or financials. We will then start to build the documentation set based on this information input. At this stage, we will begin the process of arranging regular meetings with your staff to ensure that our teams are working in tandem.

If you are setting up a new business we will build all the documentation and internal controls for you.

Most applications we undertake involve a base set of documents that we build for you.

These include:

– regulatory business plans
– regulatory marketing plans
– detailed financial forecasts
– IT security systems (ISO standard of compliance)
– risk management processes
– corporate governance
– compliance policies
– legal contracts – terms of use/privacy policies/outsourcing
– all application documentation.

Some applications may require bespoke documentation based on the jurisdiction or category of license – we will cover all bespoke documentation.

Once the full set of documents have been prepared they will be filed with the regulator.


Post-application

Licence applications typically take six months post-filing to be granted.

Disclaimer – this is subject to the resource available to the regulator in a particular jurisdiction and the complexity of the licensing category.

We will work with the regulator to deal with all queries regarding the application, right up until the license is issued.

At this point in the process we will provide training for all your staff, ensuring that they understand how to run the regulated business, once the license has been issued.

 


Post-licensing

Once the license has been issued we can assist you with the task of mobilising your business and providing support for you in the early stages. This can include training, compliance support and regulatory reporting assistance. We can run quarterly audits of your processes, if required, to ensure that they are in alignment with the policies and business documentation. This would then gradually phase into yearly compliance audits where needed.


Licensing Options


Payments Licensing

Do you need to process payments for third parties? Do you need to offer a remittance service or handle third party funds? If so you should consider a payments license.


Electronic Money/ Stored Value Licensing

Are you considering providing an online wallet for a stored value product? This could be a pre-paid card or any other method. If so, you should consider an electronic money/stored value license.


Forex

Do you want to set up an online financial brokerage? This could be an exchange for financial derivatives or a forex or binary options platform. If so, you should consider a broker’s license.


Digital currency

Do you want to provide a platform to trade digital currencies? If so, you should consider Anti-Money Laundering registrations and licensing.


Crowdfunding

Do you want to offer a crowdfunding service involving raising money for projects for debt or shares? Then you should consider a crowdfunding license.


Online gambling

Thinking of setting up an online gambling platform? Then you should consider obtaining an online gambling license.