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License · Credit institution

Bank

Take deposits and grant credit. The most demanding licence, with the deepest reach.

49Jurisdictions compared
USD 100kLowest statutory minimum (not the real requirement)
9 moTypical maximum timeline
17Regimes with a passport

Compare

Statutory minimum capital, side by side.

The legal floor in each jurisdiction. It is a starting point for comparison, not a budget: the regulator sets the capital your bank will actually need.

  1. BahamasRestricted bank and/or trust licence (including nominee trust licence)
    USD 100kBSD 100,000
  2. Cayman IslandsCategory "A" banking licence
    USD 488kKYD 400,000
  3. Cayman IslandsCategory "B" banking licence (including restricted "B")
    USD 488kKYD 400,000
  4. South AfricaMutual bank registration
    USD 601kZAR 10,000,000
  5. British Virgin IslandsRestricted Class I and restricted Class II banking licence
    USD 1mUSD 1,000,000
  6. DominicaOffshore banking licence (offshore only, joint offshore/onshore, onshore only)
    USD 1mUSD 1,000,000
  7. LithuaniaSpecialised bank licence
    USD 1.1mEUR 1,000,000
  8. BarbadosForeign currency earning bank licence (Part IIIB)
    USD 2mBBD 4,000,000
  9. BarbadosCommercial bank licence (Part II)
    USD 2mBBD 4,000,000
  10. British Virgin IslandsGeneral banking licence
    USD 2mUSD 2,000,000
  11. SeychellesOffshore banking licence
    USD 2mUSD 2,000,000
  12. AustraliaRestricted ADI licence (restricted pathway)
    USD 2.1mAUD 3,000,000
  13. Labuan (Malaysia)Labuan investment banking licence
    USD 2.4mMYR 10,000,000
  14. Antigua and BarbudaInternational Banking Licence (Class I, Class II and Class III)
    USD 3mUSD 3,000,000
  15. PanamaLicencia Internacional (international banking licence)
    USD 3mPAB 3,000,000
  16. Hong KongDeposit-taking company registration
    USD 3.2mHKD 25,000,000
  17. CanadaLetters patent of incorporation and order to commence and carry on business (Schedule I or Schedule II bank)
    USD 3.5mCAD 5,000,000
  18. BahamasPublic bank and/or trust licence
    USD 5mBSD 5,000,000
  19. AustriaBank licence (Konzession zum Betrieb von Bankgeschaeften), CRR credit institution
    USD 5.6mEUR 5,000,000
  20. CyprusAuthorisation as a credit institution
    USD 5.6mEUR 5,000,000
  21. EstoniaAuthorisation of a credit institution
    USD 5.6mEUR 5,000,000
  22. FranceAgrément as a credit institution (établissement de crédit)
    USD 5.6mEUR 5,000,000
  23. GermanyLicence to conduct banking business (CRR credit institution)
    USD 5.6mEUR 5,000,000
  24. IrelandBanking licence (credit institution)
    USD 5.6mEUR 5,000,000
  25. LithuaniaBank licence (credit institution)
    USD 5.6mEUR 5,000,000
  26. MaltaLicence to carry on the business of banking (credit institution)
    USD 5.6mEUR 5,000,000
  27. NetherlandsLicence to pursue the business of a bank
    USD 5.6mEUR 5,000,000
  28. PolandAuthorisation to establish a bank and authorisation to commence activity (two-stage bank licence)
    USD 5.6mEUR 5,000,000
  29. GibraltarCredit institution (Part 7 permission)
    USD 5.6mEUR 5,000,000
  30. BelgiumAuthorisation (agrément) as a credit institution
    USD 6.9mEUR 6,200,000
  31. Antigua and BarbudaLicence to carry on banking business (domestic, ECCU)
    USD 7.4mXCD 20,000,000
  32. DominicaBanking licence (domestic commercial bank)
    USD 7.4mXCD 20,000,000
  33. Qatar (QFC)QFC authorisation for banking business (deposit-taker)
    USD 9.6mQAR 35,000,000
  34. LuxembourgCredit institution authorisation
    USD 9.7mEUR 8,700,000
  35. United Arab Emirates: Abu Dhabi Global Market (ADGM)Financial Services Permission for Accepting Deposits (Category 1, or Category 5 for an Islamic Financial Institution managing a PSIAu)
    USD 10mUSD 10,000,000
  36. United Arab Emirates: Dubai International Financial Centre (DIFC)Licence to carry on Accepting Deposits (Category 1, or Category 5 for an Islamic Financial Institution managing an unrestricted PSIA)
    USD 10mUSD 10,000,000
  37. BermudaBanking licence, deposit company licence or restricted banking licence
    USD 10mBMD 10,000,000
  38. PanamaLicencia General (general banking licence)
    USD 10mPAB 10,000,000
  39. AustraliaAuthorised deposit-taking institution (ADI) licence, direct pathway
    USD 10.4mAUD 15,000,000
  40. ItalyBanking licence (autorizzazione all'attività bancaria)
    USD 11.2mEUR 10,000,000
  41. SingaporeDigital full bank licence
    USD 11.7mSGD 15,000,000
  42. LiechtensteinBank licence (Bewilligung als Bank)
    USD 12mCHF 10,000,000
  43. SwitzerlandBanking licence
    USD 12mCHF 10,000,000
  44. JapanBanking licence
    USD 12.6mJPY 2,000,000,000
  45. Hong KongRestricted banking licence (restricted licence bank)
    USD 12.7mHKD 100,000,000
  46. South AfricaBank registration (authorisation to establish under s.12, registration under s.16)
    USD 15mZAR 250,000,000
  47. PhilippinesDigital bank licence
    USD 15.9mPHP 1,000,000,000
  48. South KoreaInternet-only bank authorisation
    USD 18.6mKRW 25,000,000,000
  49. SpainAuthorisation of a bank (entidad de crédito)
    USD 20.1mEUR 18,000,000
  50. Hong KongBanking licence (licensed bank)
    USD 38.2mHKD 300,000,000
  51. Hong KongDigital bank (virtual bank) licence
    USD 38.2mHKD 300,000,000
  52. Labuan (Malaysia)Labuan digital bank licence
    USD 48.9mMYR 200,000,000
  53. South KoreaBanking business authorisation (commercial bank)
    USD 74.4mKRW 100,000,000,000
  54. SingaporeWholesale bank licence
    USD 78mSGD 100,000,000
  55. SingaporeDigital wholesale bank licence
    USD 78mSGD 100,000,000
  56. BahrainConventional bank licence (retail or wholesale)
    USD 266mBHD 100,000,000
  57. BahrainIslamic bank licence (retail or wholesale)
    USD 266mBHD 100,000,000
  58. United Arab Emirates (onshore)Restricted Licence Bank
    USD 272.3mAED 1,000,000,000
  59. United Arab Emirates (onshore)Bank licence (UAE-incorporated bank, specialised bank or branch of a foreign bank)
    USD 544.6mAED 2,000,000,000

Not charted (no statutory figure, or currency without a reference rate): Portugal, Guernsey, Isle of Man, Jersey, Monaco, United Kingdom, Qatar (QFC), Labuan (Malaysia), New Zealand, Philippines, Singapore, Canada, Curaçao, Panama, Mauritius, Seychelles. See each jurisdiction page.

Statutory minimums from each regulator. Converted at ECB reference rates or official pegs of 2026-10-08. Log scale. These are legal minimums only: the regulator sets the capital each bank must actually hold, usually far higher, and it must be the shareholders’ own liquid funds.

Before you start

Capital comes first.

A bank is, by definition, capital. There is no route to a licence or an acquisition without your own liquid funds, and an application filed without them is refused and stays on the record with that regulator.

What a new bank must fund (illustration, not to scale)

Statutory minimumWhat the law states
Regulatory capital set for your planCapital buffersOperating costs until profitableLicensing, systems, peopleWhat you will actually need
  • Set by the regulator. The supervisor fixes the capital for your business plan, risk profile and size. The figures on this site are the legal floor only.
  • Liquid and your own. Paid in, in cash, by identified shareholders with a documented source of wealth, before or at licensing.
  • People as well as money. Directors and managers with real banking experience; regulators interview them.

Not accepted as capital

  • Borrowed moneyLoans, including loans secured on the bank you are buying or licensing.
  • Seller or vendor financingSellers do not finance the purchase of their bank, and regulators do not approve acquisitions paid for with the target’s own money.
  • Paper instrumentsBank guarantees, SBLCs, MTNs, leased or “monetised” instruments, historical bonds, gold or deposit certificates.
  • “Proof of funds” lettersComfort letters, screenshots, blocked-funds statements or funds that are not yours to commit.
  • Undisclosed backersMoney from investors who are not identified, screened and approved as shareholders.
  • Unconverted or untraceable assetsAssets with no documented, lawful source of wealth that a regulator can verify.

We can provide everything a new bank needs, from the business plan and the application to systems and correspondent accounts, except the capital and the people who will run it. Before an engagement we verify identity, ownership and proof of funds held at a regulated bank. Enquiries that cannot show this are not taken further.

The baseline of every bank

Five components, one licence.

Every jurisdiction differs, but these five must be in place before an application is filed. Regulators weigh three of them above all: capital, banking experience and the business plan.

  1. 01Business plan

    Target markets, products, three to five years of financial projections, policies and procedures. The regulator reads it line by line.

  2. 02Capitalisation

    Liquid capital, paid in by identified shareholders, at the level the regulator sets for your plan.

  3. 03Key individuals

    A board and management with long banking careers, plus compliance and risk officers. All are background-checked and interviewed.

  4. 04IT systems

    Core banking, compliance screening, regulatory reporting, back end and front end, with outsourcing the regulator accepts.

  5. 05Correspondent relations

    Accounts with correspondent banks and access to payment systems, without which a bank cannot move money.

Prerequisite 1Proper capitalisation

Liquid funds that guarantee the operation of the bank and leave a margin for error in the business plan. There is no alternative to being liquid.

Prerequisite 2A banking background

Directors and managers whose careers in banking the regulator can verify. Over ten years is usually expected for senior roles, twenty preferred.

Prerequisite 3An extensive business plan

Markets, products, projections and every policy from human resources to compliance, with its impact on the local economy.

Which bank

Onshore, offshore, private or digital.

The same five components apply to every kind of bank. What changes is who you may serve, where, and how much the regulator will expect.

Commercial bank

Full domestic licence: deposits and lending to residents. The highest capital and the longest review.

International or offshore bank

Licences in international centres (for example Class B, Category 2 or international banking licences) that serve non-residents only, often with lower capital and no local deposit taking.

Private bank

Wealth management for a limited client base. Licensed as a bank, frequently combined with trust and fund licences.

Digital bank

A full or restricted licence with no branches. Regulators look hardest at IT, outsourcing, cyber security and the funding model.

The most common requirements

  • At least two shareholders and a management team with an impeccable record: no bankruptcy, money laundering or fraud
  • Senior directors with extensive banking experience: over 10 years is usual, 20 or more preferred
  • A compliance officer, a risk officer and the other key functions the law names
  • A local office and real presence in the jurisdiction
  • Directors with recognised qualifications, such as an MBA from an established institution
  • Full background checks on every director and shareholder, often by an external firm the regulator chooses
  • An initial business plan filed with the application
  • Paid-up capital, liquid at the time of the application
  • Core banking and regulatory reporting software in place before launch

From first meeting to an operating bank usually takes between six months and three years, depending on the jurisdiction and the case. Licensing a bank is often as much a political decision as a legal procedure, and no checklist guarantees a licence.

A provisional licence is not a banking licence

Some offers sell “provisional” or “temporary” licences. In jurisdictions that issue them, a temporary permit only lets the company register and set up. It cannot take deposits or onboard clients until the full licence is granted, and the full licence still requires capital, people and an approved plan. Compare offers on that basis.

The path

From plan to licence.

The usual sequence for this licence. Each regulator’s own process and timeline are on its jurisdiction page.

  1. Strategy

    Business model, target markets and the jurisdictions that fit them, including correspondent access for your currencies.

  2. Pre-application

    Early meetings with the regulator to test the model, ownership structure and capital plan before filing.

  3. Application pack

    Business plan, three-year financials, capital and liquidity plans, governance, risk and AML frameworks, IT and outsourcing.

  4. Fit and proper

    Assessment of shareholders, directors and key function holders: reputation, experience, source of funds.

  5. Review

    Regulator questions, on-site visits and, in the euro area, the ECB decision on the national supervisor’s proposal.

  6. Licence and mobilisation

    Licence granted, often with conditions or a restricted start; capital paid in, systems and staff in place.

  7. Go-live

    Operations begin under ongoing supervision, reporting and periodic reviews.

What the regulator will ask for

The application file.

  1. 01Business plan with three-year projections
  2. 02Capital plan, proof of funds and a notarised capital declaration by each shareholder
  3. 03Declaration of income and net worth for every shareholder and holding company
  4. 04Share capital and par value of the proposed bank
  5. 05Prescribed application fees, paid before filing
  6. 06Police certificates and full background checks for all relevant persons
  7. 07Complete career and academic history of directors and managers
  8. 08Ownership chart to the ultimate beneficial owners
  9. 09CVs and fit-and-proper forms for directors and key function holders
  10. 10Risk management, compliance and internal audit frameworks
  11. 11AML/CFT policies and the money laundering reporting officer
  12. 12IT, outsourcing and operational resilience plans
  13. 13Recovery plan and liquidity contingency plan

Before you apply

Watch, then read.

Regulation guide · 11 min

How to license a bank: from business plan to authorisation

The full path to a banking licence: pre-application, the application pack, capital, fit and proper, IT, AML, mobilisation and realistic timelines.

Regulation guide · 10 min

Buying a bank: change of control and qualifying holdings

How acquisitions of licensed banks and financial firms are approved: qualifying holdings, CRD Articles 22 to 27, timelines, due diligence and red flags.

Explainer · 8 min

What is a bank?

What legally makes an institution a bank, the main types of bank, and what a banking licence permits and does not permit.

Explainer · 8 min

Bank capital and the Basel framework

CET1, Tier 1 and total capital, risk-weighted assets, Basel III minimums and buffers, the leverage ratio, and minimum initial capital for new banks.

Explainer · 9 min

Liquidity and funding: LCR, NSFR, deposit insurance and the lender of last resort

How banks are required to survive a 30-day stress and fund themselves stably, and how deposit insurance and central bank lending complete the safety net.

Next step

Get a licensing plan for your case.

Tell us the activities, markets and capital you have in mind. We reply with the jurisdictions that fit and what each regulator will expect.

Request a licensing planCompare all jurisdictions