Can we also market in the African corridors we are licensed in and send/receive payments between the African corridors?
We do not want to hide the fact that we are a crypto company in Asia; however, for EU, we understand crypto topics could be sensitive to most banks. Thus, we prefer to simply utilize the fiat transaction in EU (via an EMI license holder). Can you please tell us how we could be flexible in this case?
Our model indicates the fact of using crypto transactions in Asia only (not in the EU), and that instead of connecting user to user, we aim to connect merchants (in Asia) to users (in EU) and merchants (in EU) to users (in Asia). Is this model valid?
When you said an office is needed, do you mean we have to incorporate first and rent an office, or just a virtual office (same as the license holder’s office) while there is likely no staff (of us) to work there?
It’s mentioned that “the funds will be kept in the custodian accounts with the EMI, which has opened with particular banks”, how are we supposed to withdraw that fund to our bank account?
Out of the referral fee (€ 28,000) and non-refundable application fee (€ 1,500), what is the monthly or yearly service charge from the license holder?
Since your company only contacts, arranges, and opens the door to negotiate; is it possible to negotiate with the company willing to work with our company? What happens if an agreement is not reached on the issue of prices or for any other issue? Is the payment for your services reimbursed 100%?
Would our company be an agent of the sponsor? I’ve read a lot of jargon about the agent relationship; could you please elaborate on this a bit.
Do you have any typical sponsorship agreements drafts that you could share so I can get a better understanding of the potential terms we can expect?
Can we apply for a Lithuanian license if we are already incorporated in Ireland? That would be our preferred option given that we’ll need to staff operations in whatever country we do get our license.
What are the solution providers payout rails? How can we find out their commercial terms and delivery times for the pay out countries?
Can we have a legal company name and then have a separate name (register a “doing business as”)? Is that allowed?
What is a list of reasonable payout countries that we can get access to by the solution provider when we are setting up our money transfer business?
Isn’t the idea of ‘renting’ a license considered wrong? Could it have legal ramifications if we rented a license?
Are they (the principal license holder) going to hold some money? For example, if they got 100% from the customer, do they hold to the funds or will they release it all?
Can I pick and choose a few US states for which we require money transmitter license coverage? If so, how does the pricing work?
Before we sign with your company, are there any reference projects we can see to help us make a decision?
How long does it take to sign the contract with the Principal License Holder providing us with regulatory coverage?
How many days will the owner of the license take to make a deposit (liquidation of the money) in my clients bank account?
What does it mean to “lease” a license and what services does your company (Faisal Khan & Co) provide for the fee you charge?