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Is New Zealand a good place for payment service providers? Have you heard of the FSP Registration for Fintechs in New Zealand?

Post author By admin
Post date November 20, 2024

For the past 18 years I have been involved with building Payment Service Providers around the world, with various licenses within the US, Canada, Spain, Sweden, Malta, Philippines, Malaysia, Hong Kong, Singapore, South Africa, UK, Australia, and of course New Zealand as a region to build Financial Service Providers. I also have been focused on buying and selling PSPs, FSPs, MSBs, EMIs, Banks, etc so if you have a company for sale, you must let me know, I have buyers. WE ARE ALWAYS LOOKING FOR PSPs For Sale by the way.

The Fintech market has been growing in leaps and bounds, and the onset of AI has also been driving the growth, but what is the best markets to build the companies in.

THIS IS WHY I CHOSE TO OPEN YOUR EYES TO NEW ZEALAND.

New Zealand is an attractive market for payment service providers (PSPs) for several reasons:

1. High Digital Adoption: New Zealand has a tech-savvy population with high internet and smartphone penetration rates. This makes digital payment services easy to adopt, as people are accustomed to online and mobile banking and other digital services.

2. Growing E-commerce Sector: E-commerce in New Zealand has been expanding rapidly, with local businesses and consumers increasingly relying on digital platforms. This creates demand for efficient and secure payment solutions that support online transactions.

3. Stable and Business-Friendly Economy: New Zealand is known for its stable economy, transparent regulations, and pro-business environment. The country ranks high in ease of doing business, which is advantageous for payment companies looking to establish a foothold in the region.

4. Favorable Regulatory Environment: New Zealand has a relatively progressive regulatory landscape for fintech and payments. The government and regulatory bodies, such as the Financial Markets Authority (FMA), are open to innovation, which helps PSPs navigate compliance without overly restrictive barriers.

5. Cross-Border Opportunities: Positioned as a gateway to Asia-Pacific, New Zealand provides access to nearby economies, including Australia and Southeast Asia. Many companies expand into New Zealand as part of a broader regional strategy, facilitating partnerships and cross-border transactions. In addition, many companies choose New Zealand to set up a Financial Service Provider for non- New Zealand residents, which is like a Bank structure offshore in New Zealand. We will discuss this further below.

6. Innovation-Friendly Financial Sector: New Zealand’s banks and financial institutions are generally open to collaborating with fintech companies, especially in payment solutions. This willingness to integrate with external service providers enhances PSPs’ ability to scale and integrate into the financial ecosystem.

7. Consumer Trust in Digital Payments: New Zealand consumers increasingly trust digital and mobile payments, driven in part by the robust data privacy and security standards. PSPs that prioritize security and convenience are well-positioned to succeed.

8. Government Support for Fintech Growth: New Zealand’s government actively promotes fintech innovation through funding initiatives and collaborations with private sector players. This support creates a nurturing environment for payment service providers to innovate and grow.

In addition to the local benefits, there is a specific type of company unique to New Zealand called a Financial Service Provider (FSP). An FSP adapts itself ideally to the Fintech World, and it has all the services of a Bank and PSP, in a great jurisdiction, without needing the massive capital requirements.

These services can be expanded to include the following and are not limited at all to just these items. The New Zealand FSP company can add at anytime the following services ideal for a PSP:

· Issuing and managing a means of payment

· Operating a money or value transfer service

· Giving financial guarantees

· Changing foreign currency

· Trading financial products or foreign exchange on behalf of other persons

· Keeping, investing, administering, or managing money, securities, or investment portfolios on behalf of other persons

· Wholesale and/or generic financial adviser services

· Broking service (including a custodial service)

· Custody

If you are interested in expanding your business to New Zealand or have any questions please contact me, Ryan@businesslistingsgroup.com

Also, if you have any financial services companies for sale, please let us know, we can engage to assist you in the sale of your Bank, Brokerage License, MSB, EMI, etc. We also offer these types of firms for sale through our mergers and acquisitions division.

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Proposed Financial Activities Of A Crypto Currency Company and Exchange and Whether it Can Be Done In New Zealand as a Registered FSP

Post author By admin
Post date November 20, 2024

Proposed Financial Activities Of A Crypto Currency Company and Exchange and Whether it Can Be Done In New Zealand as a Registered FSP

The proposed business of the FSP may include:

1. Receipt of fiat and cryptocurrencies and crypto assets (“assets”) from clients,

2. Holding such assets as client money or client property in trust for, and on behalf of, clients,

3. Receipt of investment returns, dividends, and other proceeds arising from client assets, and holding such proceeds as client money or client property in trust for, and on behalf of, clients,

4. Transfer of client money or client property in fulfilment of client orders, including for the purchase of, or subscriptions for, financial products sold by or issued by other parties (not the FSP),

5. An example of the financial activities that could be facilitated would be the receipt of assets from clients, in the form of fiat or cryptocurrencies, holding those funds as client money or client property, transferring those funds to a promoter or issuer, who will issue or sell interests in a fund, scheme or entity that owns, operates or rents out computer servers, which generate revenue and incur expenses in mining cryptocurrencies or adding blocks to a blockchain. Under this example, the FSP would not be establishing or operating the fund, scheme or entity, but would be facilitating client investments in, holdings of, disposals of, and distributions from, such funds, schemes or entities.

Questions the opinion is to address

This opinion addresses the regulatory and financial services and banking licencing, registration, and authorisation in New Zealand, required for the proposed provision of the services by the FSP:

1. Can the FSP lawfully provide the services of receiving and holding assets in the nature of cryptocurrencies and crypto assets as well as fiat currencies and traditional financial assets, from, for, on behalf of, and in trust for clients, according to the laws of New Zealand, and from a New Zealand business location?

1.1. Can these client money or property services be provided to:

1.1.1. New Zealand retail investors or retail clients

1.1.2. New Zealand wholesale investors or wholesale clients

1.1.3. Non-New Zealand retail investors or retail clients

1.1.4. Non-New Zealand wholesale investors or wholesale clients.

2. Can the FSP lawfully provide the services of receiving assets, revenue and proceeds from the issuers or purchasers of such client money or client property, according to the laws of New Zealand, and from a New Zealand business location?

3. Can the FSP lawfully provide the services of sending or transferring client money or client property to third parties, or to other locations, upon the instructions of clients or clients’ authorised delegates or agents, according to the laws of New Zealand, and from a New Zealand business location?

4. Can the FSP undertake the kind of activity of facilitating client investment in a crypto mining operation, as described?

Relevant definitions and concepts

5. The service of receiving and holding assets may be regulated in New Zealand as a “client money or property service.” The service is defined in s 431W Of the FMCA as:

A client money or property service—

(a)

is the receipt of client money or client property by a person and the holding, payment, or transfer of that client money or client property; and

(b)

includes a custodial service.

6. Client money is defined as:

client money means money—

(a)

received in connection with acquiring, holding, or disposing of a financial advice product or otherwise in connection with a financial advice product; and

(b)

received from, or on account of, a client by a person (A) (and not on A’s own

account)

7. Client property is defined as:

client property means property (other than money) to which the following apply:

(a) the property is a financial advice product, is a beneficial interest in a financial advice product, or is received in connection with a financial advice product; and

(b) the property is received from, or on account of, the client by a person (A) (and not

on A’s own account)

8. A financial advice product is defined in s 6 of the FMCA as:

financial advice product means—

(a) a financial product (as defined in section 7); or

(b) a DIMS facility; or

(d) a consumer credit contract; or

(e) any other product declared by the regulations to be a financial advice product; or

(f) a renewal or variation of the terms or conditions of an existing financial advice product

Analysis

9. A crypto-asset may or may not be a “financial product” under s 7 of the FMCA depending on its characteristics. For example:

9.1. If the crypto-asset is a representation of a right to a commodity such as a Kg of wheat, held in storage by or for the issuer or for the holders of the crypto-asset, arguably it is not a debt security (since wheat is not “money” and a debt security is a right to be repaid money that has been lent to or deposited with or is owing by someone).1

9.2. a stablecoin issued by an issuer who promises to repay **money is a debt security and therefore a financial product.

10. A custodial service is also defined as in terms of holding a financial advice product in trust for a client.

** “Money” is defined to include “money’s worth” however this extention does not apply to the definitions of debt security, investor money and investor property, see s 6, FMCA. So, a debt security is strictly a right to be repaid money and not the right to be paid a non-money commodity, or an ownership interest in a non-money commodity.

11. Inasmuch as the crypto assets that the FSP holds or handles in this way are not financial products (and not financial advice products), the service is not regulated by the FMCA (and also requires no licence or authorisation in New Zealand) however, it is best to register as an FSP and as providing a financial service than be accused of not being registered.

12. Inasmuch as the crypto-assets that the FSP holds or handles in this way are financial products, the FMCA states:

(1)

This subpart and other legislation regulate client money or property services as follows:

(a)

the Financial Service Providers (Registration and Dispute Resolution) Act 2008 provides for when a person in the business of providing the service must be registered under that Act and when that provider must be a member of an approved dispute resolution scheme. The provider is not required to hold a market services licence:

(b)

a person who provides the service must—

(i) disclose information to retail clients under section 431X; and

(ii) exercise care, diligence, and skill under section 431ZA; and

(iii) handle client money and property in accordance with sections 431ZC to 431ZH, including holding the money or property on trust (if those duties apply under section 431Z(2)):

13. Accordingly, the registered FSP that the client is considering acquiring, can provide the services in connection with crypto-assets and fiat money without being required to hold any other licence or authorisation in New Zealand.

14. The regulation summarised above of client money or property service applies to services received by a client or an investor in New Zealand, regardless of where the person providing the service is resident, incorporated or carries on business (s 387, FMCA).

15. The FSP is free, under New Zealand law, to provide the same services to clients outside New Zealand, noting that foreign financial services and financial products laws may apply to the provider depending on the locations of the clients, and the location of the FSP and/or its assets and operations.

16. In summary, the services may be provided:

16.1. In respect of crypto-assets and fiat money and other traditional financial assets that are financial products, and those that are not financial products, and

16.2. To clients that are New Zealand retail clients or investors (noting that additional disclosure and conduct requirements apply to the way the service is provided), and

16.3. To clients that are New Zealand wholesale clients or investors (noting that some conduct requirements apply to the way the service is provided), and

16.4. To clients that are non-New Zealand clients or investors, both retail and wholesale, (noting that some conduct requirements apply to the way the service is provided).

17. A registered FSP may also provide the services of issuing e-money and transferring money or value without any further authorisation or licence.

18. However, the issuing of e-money to New Zealand retail clients or investors may constitute the making of a regulated offer of a financial product, which is a debt security, and which may require a licence or Product Disclosure Statement under the FMCA and the Non-bank Deposit Takers Act 2013 respectively. Rather than issuing such a financial product, the FSP may wish to hold client money in trust for New Zealand retail clients, as a regulated client money or property service, as discussed above, which is not a regulated offer of a financial product and does not require a licence or authorisation.

19. An FSP is restricted from receiving client money or property for the acquisition of a contravening product, when the provider knows, or ought reasonably to know, that the product is a contravening product (s 431ZB, FMCA). This primarily applies to New Zealand retail investors who would be investing in regulated offers, and only those that contravene the FMCA or the regulations under it.

20. Subject to the above, the FSP can receive and pass on client money from investors to the promoters or operators of a crypto-mining operation, as part of a client money or property service. It can also receive, in respect of those client investments, the returns or proceeds, and hold them as client money or property. No separate licence or authorisation is required.

Conclusion

21. A registered FSP is able to provide the scope of services detailed above, without requiring any further licencing or authorisation in New Zealand, and the service may be provided to clients both in New Zealand and outside New Zealand, both wholesale investors or wholesale clients, and retail investors or retail clients.

New Zealand is a great place to run a crypto company for several reasons:

1. Progressive Regulatory Environment: New Zealand is known for its supportive yet clear regulatory approach to financial and technological innovation. The Financial Markets Authority (FMA) has provided guidance on how cryptocurrency businesses should operate within the country, offering clarity that helps companies navigate compliance effectively. This reduces regulatory uncertainty, which is beneficial for crypto businesses looking for stable ground to build on.

2. Blockchain-Friendly Ecosystem: New Zealand has a growing blockchain ecosystem, with various blockchain associations and educational resources supporting industry growth. Universities and tech hubs are increasingly incorporating blockchain into their programs, helping create a knowledgeable workforce ready to support crypto companies.

3. Favorable Business Climate: New Zealand ranks highly for ease of doing business, often placing in the top rankings globally. This includes simplified procedures for starting a business, low levels of corruption, and supportive government initiatives for startups and tech companies. This makes it easier for crypto firms to set up and operate efficiently.

4. Innovation-Driven Culture: The country has a culture of embracing innovation and entrepreneurship. With a history of tech startups and government-backed programs to support tech-based companies, New Zealand provides an environment that encourages creativity and fosters innovative solutions in the cryptocurrency space.

5. Tax Benefits for Crypto Companies: The New Zealand government has introduced a crypto-friendly tax framework that includes benefits for certain types of crypto transactions. Cryptocurrencies are treated as property, not currency, allowing for some tax flexibility. In 2020, New Zealand also became one of the first countries to allow cryptocurrency salaries, further reinforcing its open approach to crypto.

6. High-Quality Infrastructure and Connectivity: New Zealand has excellent internet infrastructure and connectivity, which is essential for running a blockchain or cryptocurrency business. With advanced digital networks, crypto companies can ensure seamless transactions, high security, and reliable user experiences.

7. Access to Talent: The country attracts tech talent from around the world due to its high quality of life, scenic beauty, and work-life balance. New Zealand’s growing tech sector, combined with immigration programs that welcome skilled workers, allows crypto companies to access top talent locally and internationally.

8. Reputation for Trust and Security: New Zealand’s reputation as a trustworthy and secure country is an asset for crypto companies. Investors and clients are more likely to feel confident engaging with a business in a jurisdiction known for its stability, transparency, and commitment to security.

9. Sustainability and Green Energy: Many blockchain and crypto projects are looking for eco-friendly ways to operate, especially as the industry faces criticism for energy consumption. New Zealand’s commitment to renewable energy sources and sustainability aligns with the goals of environmentally-conscious blockchain projects, providing a foundation for responsible crypto operations.

These factors combined make New Zealand an attractive and strategic location for launching and operating a crypto company, especially for businesses prioritizing regulatory clarity, innovation, and sustainability.

NEW ZEALAND IS IDEAL FOR YOUR CRYPTO COMPANY JURISIDICTION:

An FSP adapts itself ideally to the Fintech World, especially Crypto, and it has all the services of a Bank and Crypto Exchange or Service Provider, in a great jurisdiction, without needing the massive capital requirements.

These services can be expanded to include the following and are not limited at all to just these items. The New Zealand FSP company can add at anytime the following services ideal for a Crypto Company:

– Issuing and managing a means of payment (inclusive of crypto)

– Operating a money or value transfer service

– Giving financial guarantees

– Changing foreign currency

– Trading financial products or foreign exchange on behalf of other persons

– Keeping, investing, administering, or managing money, securities, or investment portfolios on behalf of other persons

– Wholesale and/or generic financial adviser services

– Broking service (including a custodial service)

– Custody

If you are interested in expanding your business to New Zealand or have any questions please contact me, Ryan@businesslistingsgroup.com

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GXG Capital Venture Europe PLC GXG – Another Successful GXG Market Reverse Takeover

Post author By admin
Post date August 15, 2014

As one of the leading firms on GXG Market takeovers, reverse mergers, and listings, we have successfully consulted the market making team in organizing their documentation and due diligence for successful reverse merger.

We congratulate Mr. Wee Guan Tan and consultant RST in the successful entry onto the GXG Markets.

GXG Market Companies for Sale
Currently we have 3 listed GXG shells for sale from companies who currently are seeking relisting their assets on the NYSE Euronext Markets utilizing our consultancy to upgrade their listing and raise capital.

Therefore, we can supply one of the three available companies for purchase for another successful reverse merger!

We are currently consulting on two new reverse mergers on the GXG markets, we hope you make the right choice in working with us if you would like to buy a GXG Shell Company.

In addition, if you would like to list on the NYSE Euronext markets, we will assist in taking you public.

Why do we have GXG shell companies for sale?
Our clients plan on moving from the GXG markets to the NYSE Euronext. We sell their GXG companies to a firm who can use it, and take the funds from the sale of the GXG company and apply it to their firm moving their assets to a fresh listing on the NYSE Euronext Markets. In addition, our broker dealer partner raises the required capital for our clients at a low 6% commission.

Contact us to buy a shell, sell a company, and go public!
info@Stockexchangelistings.com
http://www.stockexchangelistings.com

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NYSE Euronext Listings – Paris New York Stock Exchange Listings – NYX

Post author By admin
Post date April 14, 2014

The partners of IFXBG and the consortium of Stock Exchange Listings Inc within the New York Stock Exchange Marche Libre have completed the largest number of listings and IPOs within this market successfully. Although the exchange has under 500 main listings, our partner IFUNDX is connected to one of the leading investment banks on the mid cap segment in France, first initiator over the past years on Euronext and Alternext with over 50 IPOs and one of the prominent actors in M&A with over 100 operations on the SME segment (takeover, merger, fund raising, capital increase, bond issue, LBO).

NYSE Euronext is one of the leading financial market operators in the world, with exchanges in the United States and Europe: the New York Stock Exchange, NYSE Euronext, NYSE Amex and NYSE Alternext. It is suggested that the NYSE Euronext Marche Libre market is the top market in Europe for Small to Medium Enterprise Stock Exchange Listings. NYSE has raised more money and done more trading than the GXG Markets, however, the NYSE Euronext is easier to list and takes less time than the GXG markets which has become complicated taking 2-3 months to list, the NYSE Euronext only takes 6-8 weeks. The AIM market does not have the same volume for small businesses as it does for firms that interest institutional investors, and thus a listing on the NYSE has more retail volume, mainly because of the ease for investors to trade the shares in Europe and in America. The platform of the NYSE is as accessible as a local OTC or NASDAQ market for American markets, and a local market to European Capital markets, being an accepted platform for pension funds and individual investors alike in both markets. Unlocking the key to the investors depends on who you choose as your sponsor broker and who you work with. There are many Swiss and British firms that consult within this field, but as a leader in listing firms and introductions to financing, the team at Stock Exchange Listings, info@stockexchangelistings.com is the leader in introductions and pulling multiple institutions together in France for the listing and road show for raising the full capacity of Funds for your firm.

These exchanges cater to companies of all sizes and from all sectors. Handling over one-third of global transaction volumes, “NYSE Euronext is the world’s most liquid stock exchange group.” From the outset of their listing, companies benefit from access to a secure market, state-of-the-art technology, the broadest investor base in the world and made-to-measure advice. By far in comparison to the US OTCBB, Frankfurt, AIM, the NYSE is the giant in this market and it is easier than even the most relaxed stock exchanges like the Danish GXG market.

Stock Exchange Listings through partners within the Euronext markets offers listed companies high valued-added advice on how to raise financing on the financial markets. As a foreign listing of your firm on a stock exchange, there are many reasons to consider the ease of listing on the NYSE Euronext.

The NYSE Euronext is better than the US OTCBB for listing and taking a company public for many reasons for:
•Access to immediate capital in the public listing process
•Access to the largest volume market as the most liquid stock exchange group
•No need of a prospectus or S1 in the listing process, where OTCBB requires an S1
•The listing process is only 6-8 weeks on the NYSE Euronext
•Phenomenal name association with some of the top companies in the World listed on the same exchange are your SME
•Sophisticated trading system, globally recognized by top firms and clearing companies for brokers to trade with ease
•No Sarbanes Oxley
•No restricted stock, all shares are free trading
•Not regulated by the SEC, it is self-regulated
•No revenue requirement
•No minimum shareholders
•No DTC issues, shares are depository receipts with local France custodian transfer agents for a fee
•Minimal ongoing costs and reporting
•Listing costs comparable if not cheaper than the OTCBB when the entire process is compared

For a free report, comparison or discussion on the NYSE Euronext Market listings and whether your firm could qualify for listing contact our Listing Specialist at info@stockexchangelistings.com. The leader in stock exchange listings platforms and admissions globally!

Our firm is directly related to one of the top IPOs on the NYSE Euronext Marche Libre from Asia. Leading Countries from around the World choose the Marche libre NYSE Euronext Free Market as the place to list their firm. NYSE Listings of Chinese firms, NYSE listing of African firms, NYSE Listings of US Companies, NYSE listing of Canadian companies, NYSE listings of UK companies, and many more markets. All of whom have raised more capital on the IPO process as an SME exchange than any other OTC Market for the IPO process. NYSE in our opinion is the global leader for IPO capital raised for an OTC market, bypassing all other markets in Europe for the capital raised.

First Step

The Free Markets target local companies of which our team at Stock Exchange Listings will assist in building and structuring your firm into that would like to finance the next phase of your development and benefit from the reputation bestowed on public companies, without having to satisfy all the requirements associated with a listing on the Regulated Markets. Where GXG markets require IFRS, the NYSE Euronext Market does not.

Approximately 10 percent of all companies listed on the Free Market in Paris have pursued a listing on another market at a later stage. Consider this when choosing who you list with, as Stock Exchange Listings can move your firm from NYSE Euronext Marche Libre, to Alternext, and onwards to NYSE Mainboard or other major markets globally. Stock Exchange Listings public company listing specialist will describe a complete system and process to your company like no other service provider in the market. Our checklists, issuer questionnaires, and manuals serve as the leading tools for listing companies quickly and effectively and following the entire process through online.

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