It's easy to say, but the initial costs are brutal, physical offices, audits, blocked capital, not everyone has that.
It's easy to say, but the initial costs are brutal, physical offices, audits, blocked capital, not everyone has that.
Then start with the basics: credibility. If you choose an opaque jurisdiction, you are already losing that.
That's why Estonia e-Licensesing exists. You can operate online, low costs, and you're within the EU.
I'm going to look at Estonia, although I didn't know it allowed financial activities without additional license.
You need a financial service provider license, but it's much cheaper than in Germany, for example.
Many people believe that with having a company in Estonia they can do everything. Common error. Look carefully what license applies.
What do you think of Georgia?
Yeah, Georgia is cheap and flexible, but it's not recognized by any major regulator, so you won't get a good picture.
Also, if you plan to attract European or American customers, forget about it. No one seriously deposits money in an unbacked entity.
Look, you can set up a $2,000 broker in Vanuatu or you can spend a year working on demo, build reputation, and be manager.
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