The Land Without A Banking Law: How To Start A Bank With A Thousand Dollars

Opus Operis LLP
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New Zealand is generally perceived as a high tax country and has consequently not been a target in the international campaign against offshore tax havens. The fact is that New Zealand offers secretive zero tax structures for offshore activities and perhaps even more remarkable, a legal framework that allows for virtually anyone to start a Bank without being subject to any capital or qualification requirements. New Zealand Offshore Finance Companies are Banks, both in a legal and practical sense, but not Registered Banks under supervision of the Reserve Bank of New Zealand. While there are laws in New Zealand regulating financial activities, there are no regulatory entry barriers as such for the business of banking when services are offered to non-residents only (offshore). This book will teach you how to form and register a New Zealand Company online and how to obtain registration as a bona fide Financial Service Provider (FSP) with legal capacity to offer banking services to any number of clients, resident anywhere in the world. The regulatory framework and upcoming changes to the relevant legislation are explained.
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About the author

 Michael Magnusson was born and raised in Sweden but has lived most of his adult life “offshore” in various countries throughout the world.  He retired from the offshore company formation industry in 2013 after having established more than 1000 financial entities in various jurisdictions for clients on every continent except Antarctica. Magnusson focused on the formation and registration of Banks, Finance Companies, Hedge Funds and Trust Companies as well as the development and implementation of the IT systems and clearing platforms required for such entities to become operational. Magnusson remains active in the offshore industry as an Author, Chairman of a Trust Company, Consultant and Investor with focus on the banking technology sector.

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Additional Information

Opus Operis LLP
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Published on
Nov 30, 2013
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Business & Economics / Banks & Banking
Law / Banking
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