Forming a New Zealand Broker Dealer (FSP) involved a variety of recommended steps.
- Formation of the New Zealand Trust Deed while simultaneously creating the beneficiary of the trust and owner. (The Belize Corporation) The Director of the New Zealand corporation will be an individual. (2 weeks)
- Set-up physical office and a dedicated resource (employee who can be bilingual) physically within New Zealand, and formation of Broker Website (congruent with step 1)
- Make application for the Broker Dealer License (2-4 weeks)
- Join the dispute resolution scheme to enable retail trading
- Make application to the trading, clearing, and settlement platforms managed by RST Capital to enable setting-up accounts, as well as plug-in to the platform
- Monthly on-going fees for support, technology, and physical presence
Expected Costs
Step 1-3
- Website: $5,000
- Trust and Brokerage License: $25,000
- Belize or Offshore Corporation: TBD $2,500 to $5,000 depending on jurisdiction, trust structure, etc
Step 4-6
- Dispute Resolution between $1,000 and $2,000 per annum
- Trading, Clearing, and Settlement Platform:
- Monthly Support, Technology, and Physical Presence
Contact info@licensedbank.com to begin the process of setting up your Bank or Brokerage House.