Registration of a credit сompany. Credit license

How to open a credit сompany? Registration of a credit сompany. Credit license

REGISTRATION OF CREDIT COMPANY

Description

BMG company has 10 years of experience in providing services for the creation and registration of a credit company in Ukraine. BMG has successfully implemented more than 1,000 projects, opened more than 100 financial institutions and received more than 300 licenses for financial activities.

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    Registration of a credit company

    The provision of funds on a loan, including on the terms of a financial loan, refers to financial services.

    A financial credit company has the right to provide financial services after entering it into the Register and obtaining a Certificate and after obtaining an appropriate credit license.

    The procedure for creating an opening of a credit company planning to provide lending services:

    1. Registration of a legal entity
    2. Bringing to the standards of a financial credit company
    3. Entry into the register of financial companies – registration of a credit company
    4. Obtaining a license for lending – lending funds, including on the terms of a financial loan

    Conditions for setting up a credit company

    In order to register a credit institution, a company must meet the following requirements.

    1) The constituent documents of the financial credit company indicate an exhaustive list of types of financial services that the applicant will provide as an exclusive type of his activity, taking into account the requirements of the legislation, including taking into account the restrictions on the combination of certain types of financial services.

    2) The presence in a financial credit institution of an internal document governing the procedure for the provision of financial services and model contracts with consumers of financial services must comply with the requirements of the legislation and be approved by the authorized body of the credit institution in accordance with its constituent documents.

    3) Availability of an accounting system that complies with legal requirements.

    4) Availability of accounting and registration systems in a financial credit institution (software and special technical equipment), which must meet the requirements established by the National Bank of Ukraine, and provide for keeping records of transactions for the provision of credit services (financial services) to consumers and reporting to the National Bank Ukraine.

    5) Formation of a financial credit institution authorized (reserve, share) capital in cash, as well as compliance of the size of the authorized (drawn up, share) and / or equity capital of a financial credit institution with the requirements of the legislation.

    In the case of the provision of one financial service - the provision of funds, including on the terms of a financial loan - in the amount of at least UAH 3 million, in the case of the provision of 2 or more services - in the amount of at least UAH 5 million. When combining individual financial services, there may be additional requirements for the size of the authorized capital.

    6) Compliance of the head and chief accountant of a financial credit institution with the Professional requirements for managers and chief accountants of financial institutions.

    7) the presence in a financial credit institution of the conditions necessary for the provision of financial services to consumers, namely:

    • Own or rented premises at the location of the applicant, indicated in the Unified State Register of Legal Entities, Individuals – Entrepreneurs and Public Organizations
    • Appropriate computer technology, which makes it possible to ensure compliance with the requirements for the submission of information to the National Bank of Ukraine, established by the legislation governing the provision of financial services, and communications (telephone, Internet, e-mail)

    Additional conditions for creating a credit company

    A financial credit institution forms capital, reserves, funds and determines the procedure for covering losses in accordance with the requirements of the legislation.

    A financial credit company shall register financial services contracts by maintaining a logbook of concluded and completed contracts for the provision of financial services; accounting cards of concluded and completed contracts, which must contain the information necessary for maintaining accounting records of the relevant financial and business transactions. A financial credit company keeps such records in electronic form with the obligatory ability to print information at any time, and also provides the ability to recover lost information in the event of any force majeure circumstances.

    A financial credit company is obliged to keep a logbook for recording concluded and completed contracts in chronological order (separately for each type of service) with the obligatory indication of the following information:

    • Record number in order
    • Date and number of the concluded contract in chronological order
      Name of a legal entity or surname, name, patronymic of an individual – consumer of financial services
    • Legal entity identification code or registration number of the taxpayer account card of an individual – consumer of financial services (for individuals who, due to their religious beliefs, refuse to accept the registration number of the taxpayer account card and have notified the relevant supervisory authority and have a mark in their passport – series and passport number)
    • The size of the financial asset in monetary terms in accordance with the terms of the agreement on the provision of financial services date of crediting (transferring) the financial asset to the current account of the financial institution
    • Expiration date of the contract (date of cancellation or termination of the contract)

    The following information must be indicated in the cards for recording the fulfillment of contracts:

    • Card number
    • Date of conclusion and duration of the contract
    • Name of a legal entity or surname, name, patronymic of an individual – consumer of financial services
    • The identification code of a legal entity or the registration number of the taxpayer account card of an individual – consumer of financial services (for individuals who, due to their religious beliefs, refuse to accept the registration number of the taxpayer account card and have notified the relevant supervisory authority and have a mark in their passport – series and passport number)
    • The type of financial asset that is the subject of the contract
    • Information about the received (issued) monetary funds and / or financial assets, namely:
    • Date of receipt (issue) of funds and / or financial assets;
    • The amount of cash and / or the amount of financial assets under the contract
    • Amount of remuneration
    • The amount of other charges according to the terms of the agreement
    • The total amount and / or size of financial assets received on the date of filling out the card

    Requirements for the personnel of a credit company

    The head of a financial credit company is subject to the following requirements:

    • Have a university degree with a master’s degree or equivalent
    • Take advanced training and pass an examination for the compliance of knowledge with professional requirements according to the standard training program for managers
    • Have at least five years of general work experience, of which at least two years of experience as a manager, in particular, at least one year as a manager in the financial services markets
    • Have an impeccable business reputation

    The chief accountant of a financial credit company is subject to the following requirements:

    • Have a higher education at least a bachelor’s degree
    • Take advanced training and pass an examination for the compliance of knowledge with professional requirements according to a standard professional development program for chief accountants
    • Have at least three years of work experience as a manager in the field of financial and / or accounting activities or work experience in the financial services markets in positions related to financial or accounting activities
    • Have an impeccable business reputation

    The person responsible for financial monitoring of a financial credit company is subject to the following requirements:

    • Have an impeccable business reputation
    • Have a university degree
    • Experience of at least a year in the field of prevention and counteraction to legalization (laundering) of proceeds from crime
    • Take refresher courses and pass an exam according to the standard refresher training program for the subjects of primary monitoring

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        REGULATORY ACTS REGULATORY ACTIVITIES

        Legal and regulatory framework

        01.  Law of Ukraine: On Financial Services and State Regulation of Financial Services Markets

        02.  Regulation: On the State Register of Financial Institutions

        PROCEDURE FOR ESTABLISHING A FINANCIAL COMPANY

        Stages of creating a financial company

        01.  Registration of a financial company

        Preparation of statutory documents, approval of the position of director, registration of a legal entity

        02.  Bringing to standards

        Formation of authorized capital, personnel training, audit, development of rules and regulations

        03.  Entry into the Register

        Preparation of a package of documents, submission to the Commission, consideration of documents, entry into the Register

        04.  Obtaining a license

        Development of rules and contracts, audit, preparation of documents for a license, submission to the commission, issuance of a license for financial services

        WHAT CONDITIONS MUST BE FULFILLED

        Requirements for setting up a Financial Company

        регистрация финансовой компании

        ORGANIZATIONAL AND LEGAL FINANCIAL COMPANY

        Financial companies can be created in any organizational and legal form, if the laws on the regulation of certain types of financial services do not contain special rules and restrictions.

        Special rules are created for: Pawnshops – in the form of a complete society; Credit unions – a legal entity whose members are at least 50 individuals; Insurance companies – in the form of a joint stock company or an additional liability company; Banks – in the form of a joint stock company and others …

        Statutory documents must comply with the requirements of financial companies.

        SIZE OF AUTHORIZED CAPITAL OF THE FINANCIAL COMPANY

        For most financial companies, there is a regulatory minimum size of the authorized capital, which must be formed exclusively in cash.

        For pawnshops – at least UAH 500 thousand or at least 1 million – if branches are opened.

        For a financial company – at least UAH 3 million.

        For a financial company combining several types of activities – at least UAH 5 million.

        For the provision of certain types of financial services, separate requirements may be set.

        The financial company must have a transparent ownership structure in which the ultimate beneficiaries and owners can be identified. The ultimate beneficiaries, owners must have confirmation of the origin of the funds.

        FINANCIAL COMPANY ROOM

        The main requirement for the premises of financial companies is the presence of their own or rented premises, in a non-residential fund at the location of a financial institution specified in the Unified State Register of Legal Entities.

        The premises must be equipped with appropriate computer equipment, which makes it possible to ensure compliance with the requirements for the submission of information to the National Bank of Ukraine / National Commission on Securities and Stock Market, established by the legislation governing the provision of financial services, and communications (telephone, Internet, electronic mail).

        For certain types of financial services, their requirements for premises may be set.

        For pawnshops, there is a place in the room for storing pledged property. A special place of storage of pledged property is a separate room or a separate territory, a place with limited access, which must meet the requirements established by law, be located at the location of the pawnshop or its separate subdivision or at another address and be equipped with the necessary means that must ensure the safety of the pledged items and the maintenance of the pledged items in good condition.

        A credit institution must have a separate private or rented non-residential premises with limited access and a safe for storing money (funds) and documents, which makes it impossible to damage them.

        Insurance companies must own or use premises, namely the non-residential part of the internal volume of the building, limited by building elements, with the ability to enter and exit, which is used exclusively by this applicant in the implementation of insurance activities, at the location.

        Credit unions are required to have a separate room with limited access and a safe for storing money (funds) and documents, which makes it impossible to damage them.

        PERSONNEL OF THE FINANCIAL COMPANY

        There are the following professional requirements for financial companies:

        1. Requirements for the manager and chief accountant
        2. Professional requirements for specialists (for the securities market)
        3. Requirements for the person responsible for financial monitoring

        The head of a financial company that provides the following financial services: lending, leasing, factoring, insurance, currency exchange, money transfer, construction financing, guarantees and sureties, are subject to the following requirements:

        1. have a higher education master’s degree or equivalent;
        2. undergo advanced training and pass an examination for the compliance of knowledge with professional requirements according to the standard training program for managers;
        3. have at least five years of general work experience, of which at least two years of work as a manager, in particular, at least one year as a manager in the financial services markets (for the chairman of the board of a credit union and a pawnshop manager – at least one year of work as a manager)
        4. have an impeccable business reputation.

        The chief accountant of a financial company that provides the following financial services: lending, leasing, factoring, insurance, currency exchange, money transfer, construction financing, guarantees and sureties, are subject to the following requirements:

        1. have a higher education at least a bachelor’s degree;
        2. undergo advanced training and pass an examination for the compliance of knowledge with professional requirements according to a standard training program for chief accountants;
        3. have at least three years of work experience as a manager in the field of financial and / or accounting activities or work experience in the financial services markets in positions related to financial or accounting activities;
        4. have an impeccable business reputation.

        Banks, participants in the securities market are set their own requirements.

        Financial companies are subjects of primary financial monitoring, for this purpose the following requirements are set for the position of the person responsible for financial monitoring: have an impeccable business reputation, have a higher education, at least a year’s work experience in the field of preventing and combating the legalization (laundering) of proceeds from crime, take refresher courses and pass an exam according to the standard refresher training program for the subjects of primary monitoring.

        For financial companies, participants in the stock and securities market, additional professional requirements may be set. So for an asset management company, in order to obtain a license for asset management, it is necessary to have at least 3 certified asset management specialists.

        REGULATORY FOR REGISTRATION OF A FINANCIAL COMPANY

        Financial companies providing the following financial services: lending, leasing, factoring, insurance, currency exchange, money transfer, construction financing, guarantees and sureties, impose the following requirements:

        1. The constituent documents must contain an exhaustive list of types of financial services that the financial company will provide as an exclusive type of its activity, including taking into account the restrictions on the combination of certain types of financial services. The constituent documents of a financial institution – must meet the requirements of a special regulatory legal act, according to which such a legal entity was created.
        2. A financial company has an internal document governing the procedure for the provision of financial services and model contracts with consumers of financial services must comply with the requirements of the law.
        3. Availability of an accounting system that meets legal requirements.
        4. Availability of accounting and recording systems (software and special technical equipment), which must comply with the requirements established by law, and provide for the maintenance of accounting transactions for the provision of financial services to consumers and reporting.
        5. Formation of the financial company of the authorized capital in cash, as well as the compliance of its size with the requirements of the legislation.
        6. Compliance of the manager and chief accountant with the Professional requirements for managers and chief accountants of financial institutions.
        7. The presence of the conditions necessary for the provision of financial services to consumers, namely: own or rented premises at the location of the applicant, indicated in the Unified State Register; appropriate computer technology, which makes it possible to ensure compliance with the requirements for the presentation of information established by the legislation governing the provision of financial services, and communication facilities (telephone, Internet, e-mail).

        WHAT IS NECESSARY TO START REGISTRATION OF A FINANCIAL COMPANY

        To get started, you must provide:

        1. Information about the Founders and ultimate beneficiaries.
        2. Data about the Premises (physical address where the company will be located).
        3. Information about the Manager, Chief Accountant, Responsible for financial monitoring (may be the person of the Director / Chief Accountant): passport, code, diploma, work book.
        4. The planned name of the Company.

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            About us

            We know that the result is important to you, not the process. More than 10 years of work in the market, more than 1000 successfully implemented projects, we know how to get the desired result on time

            Experience

            More than 10 years of experience, more than 1000 successful projects throughout Ukraine

            Professionalism

            We employ practicing specialists with at least 5 years of work experience

            Guarantee

            We guarantee in the contract the implementation of a project

            10

            Years of experience

            100

            Open companies

            300

            Received licenses

            1000

            Successful projects

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