The opportunity to open and own 100% in a new bank. The basic requirements and the amount of deposit needed for the application for the banking license according to current regulations of the European Union.
Please note that new regulations are to be announced on the 6th of April 2o21, the lawyer in charge of the process informed that they will be more favourable for the client.
The bank will be a fully operating bank under EU Law, SWIFT and SEPA.
The Single Euro Payments Area (SEPA) is a European Union (EU) payments integration initiative aimed at harmonising electronic euro payments in Europe.Simplicity, convenience and efficiency are the three core benefits of . Consumers can now rely on one payment account and card to make euro payments wherever they are in Europe, which provides them peace of mind when they are travelling in Europe or making online purchases on websites based in other countries. Equally, enterprises see increased business opportunities and can more easily access a broad European market. As they do not have to deal with multiple payment card standards for euro payments, they save time and money.
In addition, creates a single market for payment services. The increased competition between and card service providers benefits consumers and companies alike, as they can enjoy a greater choice of highly competitive services driven by technological innovation.
Business plan as required by the central bank of Bulgaria and the European Central Bank as the regulators
Legal memorandum stipulating the requirements and obligation for the application
Meetings with regulator and compliance regime to start the structure
Build up of back office team in perpetration of licence.
After regulatory checks the process of licensing and eventual licence
Jurisdiction: Bulgaria, Europe
Type: EU Banking Licence, SWIFT, SEPA
Regulation: The European Banking Authority (EBA) is a regulatory body that strives to maintain financial stability throughout the European Union’s (EU) banking industry.
Deposit is 5,000,000 EUR
Processing Fees: 1,250,000 EUR
Processing Time: 6-12 Months
Bodies: Bulgarian Government, European Central Bank, Legal Officers