Swiss Bank License
Form a new, fully licensed Swiss Bank (with a Swiss Banking license)
Swiss AMF AG (www.swissamf.com) can assist you with the complete formation and licensing of a FINMA licensed Swiss Bank. The bank licensing process normally takes about six (6) months, but the duration depends on the quality and complexity of the application. In the case of applications with a foreign connection, the time it takes to receive a response from the competent foreign supervisory authorities must also be taken into account.
Swiss Bank Licensing Requirements:
Capital requirement: Fully paid-up minimum capital of CHF 10 million, which must be paid in and remain in the company from the onset.
Employees: The bank will need at least three (3) compliance personnel, a CEO, a director who must be Swiss resident. We will provide introductions to staff. Expect approximately CHF 100,000 per month in salary costs.
Other Swiss bank licensing requirements: a business plan showing that compliance with capital adequacy, risk diversification and liquidity rules can be ensured at all times; qualified participants and members of ultimate strategic and executive management guarantee proper business conduct (see “Employee requirement” herein); the articles of association, partnership agreement or regulations provide a precise factual and geographical description of the business that is compatible with the bank’s finances and organisation; management of the bank from Switzerland (see “Employee requirement” herein); separation of ultimate strategic and executive management; effective separation of internal functions – in particular lending, trading, asset management and settlement; effective risk management – in particular appropriate identification, limitation and monitoring of market, credit, default, settlement, liquidity, image, operational and legal risks; effective internal control system, internal audit function independent of executive management; appointment of a recognised audit firm for the licensing process; appointment of a recognised regulatory audit firm for ongoing supervision; applicants under foreign control must guarantee reciprocal rights on the part of the countries where qualified participants are domiciled; if the bank is part of a financial group, it must be subject to adequate consolidated supervision by a recognised supervisory authority.
Turnkey Delivery
Swiss AMF AG (www.swissamf.com) can assist you from begining to completion to meet all FINMA licensing requirements for a full Swiss banking license including but not limited to incorporation of the Swiss AG, preparation, filing and follow-through of the bank license application with FINMA, preparation of a professional website. Please note: must be able to provide capital of circa CHF 30 million.
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