REGISTRATION OF A FINANCIAL COMPANY
Registration of a financial company is a laborious procedure in terms of collecting and preparing a package of documents, requiring knowledge of the legislation, their features, as well as all relevant changes.
BMG has 10 years of experience in providing services for the establishment and registration of a financial company in Ukraine. BMG has successfully implemented over 1000 projects, opened over 100 financial institutions and received over 300 licenses for financial activities.
- Term of registration of a financial company: from 1 month
- Financial company registration authority: National Bank of Ukraine / National Commission on Securities and Stock Market, depending on the type of activity
- Service type: registration of a financial company
- Guarantee: we guarantee the performance of services, the registration of a financial company in full on time
- Payment method: according to the contract
- Registration cost of registration of a financial company: request a quote
- Licensing cost: financial license: request a quote
- Experience since 2008
Already working with us:
Activities of financial companies
A financial company is a legal entity that, in accordance with the law, provides one or more financial services, as well as other services (operations) related to the provision of financial services. Financial institutions must be entered in the relevant register of financial companies, as well as obtain a license for financial services that this company provides.
Registration of a financial company is a complex, time-consuming procedure and requires a highly qualified specialist who will perform this work.
It is possible to open a financial company only after fulfilling a number of regulatory conditions and requirements. These requirements are set for: the size of the authorized capital of a financial company, personnel, premises, availability of equipment, comprehensive development of model contracts and rules for displaying financial services.
The creation and registration of a financial company requires passing a number of mandatory stages and procedures. So, according to the current legislation on the activities of financial organizations, a mandatory procedure is to obtain a license for financial activities.
We have been providing comprehensive services for the registration of financial companies since 2008. We have created more than 50 financial organizations, received over 100 licenses for financial activities.
Registration of financial companies
We provide comprehensive services for the registration of financial companies. You can choose the area of financial activity that suits you best:
Registration of a financial company:
- Registration of a Credit Company
- Register Pawnshop
- Credit union registration
- Factoring company registration
- Registration of a leasing company
- Currency exchange activities
- Registration of a Payment Company
- Registration of the Payment system
- Processing company organizations
- Financial company combining activities
- Insurance company registration
- Creation of the Management Company FFS, FON
- Registration of a Banking Institution
- other financial companies
Registration of a financial company on the securities market:
Types of financial services
You can also choose to register a financial company by the types of financial services it provides:
- Lending funds, including on the terms of a financial loan
- Financial leasing
- Currency exchange
- Money transfer
- Activities to raise funds to deposit accounts
- Lombard activity
- Currency trading
- Attraction of financial assets with the obligation of their subsequent return
- Provision of guarantees and sureties
- Services in the field of insurance and in the system of funded pension provision
- Securities trading activities
- Institutional Investor Asset Management Activities
- Depository activities
- Activities for the organization of trading in the stock market
- Clearing activities
- Administration of financial assets for purchasing items in groups
- Property management for financing construction projects and / or carrying out real estate transactions
- Operations with mortgage assets for the purpose of issuing mortgage-backed securities
- Banking services
- Issuance of payment documents, payment cards, traveller’s checks and / or their maintenance, clearing, other forms of ensuring settlements
- Trust management of financial assets
- other financial services
Financial activity license
A financial license is a prerequisite for the provision of financial services.
Our company provides a full range of services for obtaining and registering a license for financial activities for your organization.
You can issue a license for financial activities both separately and in the complex of services for registering a financial company.
A license for financial activities in which we provide services:
- Lending license
- Factoring license
- Leasing license
- License for guarantees and sureties
- License to raise funds to deposit accounts
- Money transfer license
- Currency exchange license
- Property management license for the purpose of financing construction
- Asset management license
- Securities trading license
- Pawnshop license
- Financial activity license for other financial services
BMG provides comprehensive services, including the registration of a financial company since 2008. Leave a request and we will prepare a Commercial offer for you, as well as answer all your questions.
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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
03. Regulation: On the State Register of Financial Institutions
04. Law of Ukraine: On Insurance
05. Law of Ukraine: On Banks and Banking Activities
06. Law of Ukraine: On Payment Systems and Transfer of Funds in Ukraine
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
ORGANIZATIONAL AND LEGAL FINANCIAL COMPANY
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 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 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
- Requirements for the manager and chief accountant
- Professional requirements for specialists (for the securities market)
- 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:
- have a higher education master’s degree or equivalent;
- undergo 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 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)
- 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:
- have a higher education at least a bachelor’s degree;
- undergo advanced training and pass an examination for the compliance of knowledge with professional requirements according to a standard training 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.
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
- 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.
- 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.
- Availability of an accounting system that meets legal requirements.
- 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.
- 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.
- Compliance of the manager and chief accountant with the Professional requirements for managers and chief accountants of financial institutions.
- 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
- Information about the Founders and ultimate beneficiaries.
- Data about the Premises (physical address where the company will be located).
- Information about the Manager, Chief Accountant, Responsible for financial monitoring (may be the person of the Director / Chief Accountant): passport, code, diploma, work book.
- The planned name of the Company.
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We help, advise and know how to solve the assigned tasks
02. Scheme of work
We agree and give working tools for the implementation of plans
The result is important, not the process. Terms are spoken at the beginning
We undertake to perform work in which we are confident, we are responsible for the result
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We will contact you as soon as possible!
WHY CHOOSE 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
More than 10 years of experience, more than 1000 successful projects throughout Ukraine
We employ practicing specialists with at least 5 years of work experience
We guarantee in the contract the implementation of a project
Years of experience