Opening a financial company is a rather complicated and costly process. It requires the preparation of an individual package of documents, knowledge of the peculiarities of the legislation in this area.
To solve such questions, it is recommended to turn to qualified lawyers. Having practical experience in choosing the best legal form is an additional advantage. Existing law firms will help you in solving many issues, as well as do everything possible to save your time, effort and energy spent on independent opening.
What is a financial company and why open one?
When we talk about a financial company, we are referring to a legal entity that provides various financial services. Financial companies include banks and other financial institutions, credit unions, currency exchange companies, pawnshops, leasing and insurance companies, trust companies, asset management companies, investment funds, management companies and other similar privately owned organizations.
More often two types of companies are opened in the market:
Credit and financial companies (designed to issue and service loans). They should not be confused with banking organizations – the latter offer a much wider range of services.
Investment-financial companies. As the name implies, these companies are engaged in search and attraction of investments, investment consulting.
The difficulty lies in the fact that all financial organizations must be listed in the appropriate register, as well as in time to obtain a license to provide financial services. But that is not all: in addition to this general license, there is a need to obtain a license for each type of financial services that the company is engaged in. That is why the registration of financial companies is fundamentally different from the creation of regular companies and, above all, requires highly qualified specialists providing such services.
What are the conditions for opening a finance company?
In addition, there are special requirements for share capital, staff, premises, composition of fixed assets. They all vary and depend on the type of financial company. Another point to which one should pay immediate attention is the availability of developed forms of standard contracts with future clients and rules for the provision of financial services. Such requirements are mandatory for the creation of new financial companies.
Choosing a law firm, which will help you open a financial company, you should be guided by the following basic conditions of cooperation:
Term of registration – from 1 month. This time is spent primarily on obtaining licenses. For a shorter period of registration, as a rule, ask for a much higher price, so if time is patient, it is better not to rush.
A financial company is registered on a turnkey basis. You will only be required to be present in some places where you cannot do without the founders, and sign the documents.
Registration services are performed in accordance with the signed agreement in full and within the agreed terms.
The cost varies depending on the qualifications and name of the company which will deal with such issues, but on average such services will cost the future owner of 3-5 thousand dollars.
In order to collect the initial package of documents to submit to the state registration authorities also require the involvement of specialists. Trust the law firms that provide such services, and the whole process of registration, from the decision on the name and ending with the transfer of the licenses obtained, will be smooth, without unnecessary problems, almost imperceptibly for you personally.
