You don’t always have to obtain a license to be able to provide financial services. Acquire a sublicense and collaborate with a licensed financial service provider and that is all you have to do. With our assistance, you can become a trade partner of a licensed exchange in Indonesia. In this way, you can reduce the costs as well as the risks, accelerate the process of entering the market, and acquire multiple other benefits.
Advantages of the opportunity
Applying for a full-fledged financial service license takes time and a lot of money. A sublicense is often much more affordable.
Main advantages of the opportunity that we offer:
- Entering the market in a fast way. Becoming a partner of a licensed exchange takes considerably less time than acquiring a license.
- Rapid business development. A sublicense holder gains access to an existing network of contacts and a client base. Trade platforms, clearing systems, and other important instruments that have proved their efficiency become available to him/ her.
- Support and training. The holder of the master license often provides support to sublicense holders in the form of consultations, technical assistance, and training programs for company personnel.
- Compliance with regulatory requirements. The holder of the master license already complies with all the regulatory requirements because the license would not have been issued otherwise. The master license holder can always advise on various standards and regulatory matters.
- A wide spectrum of services. A trade partner can offer a wide range of financial services and instruments to his/ her clients, which will make him/ her highly competitive in the market.
Cooperating with a well-known and reliable licensee will increase trust to you on the part of your customers. If you would like to take your business operations to a higher level, the opportunity of acquiring a sublicense and cooperating with a large crypto exchange in Indonesia is the chance to fulfill your most ambitious plans.
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Stages in the process
You have to take several steps to become a partner of the exchange in Indonesia. Our experts are offering you a ready-made business scheme that allows entering the market fast.
If you take advantage of our offer and become a partner of a licensed exchange in Indonesia, you will be able to do the following:
- Open accounts for non-resident natural and legal persons;
- Receive payments to your bank account;
- Trade in crypto at a 0.1–0.2% commission.
Stage № 1. Registering a company
The first step is registering a company in your name. There should be nobody from sanctioned countries among the company owners. The company can be registered within 6 to 7 business days. A sublicense is going to be one of the corporate documents.
Our services at this stage:
- Company registration;
- Business license acquisition (for two types of services);
- Remote company registration;
- A virtual office for a year;
- Additional services.
Stage № 2. Acquiring a residence permit for the company director
As soon as the corporate documents are ready, you can start preparing to apply for an investor visa to Indonesia that is abbreviated KITAS in the country. The preparatory steps are going to take 2 to 3 weeks in the standard case but the process could be shortened to 5 to 7 days for an extra fee.
Documents required for the visa:
- A scan copy of the company director’s passport;
- A passport-size photograph;
- A bank statement for the last month;
- Corporate documents.
When this stage is over, you will acquire an e-KITAS. You can use it to legally enter Indonesia and a 2-year visa will be stamped in your passport when you do.
The price of the visa depends on its type:
- KITAS standard;
- KITAS accelerated.
Stage № 3. Opening a bank account and registering with the fiscal service
At this stage, a personal visit of the company director to Indonesia is required. You have 90 days from the date of obtaining the visa to enter the country. The visa is activated at the moment you cross the border. When in Indonesia, the company director has to register the company with the tax authorities. The company will be assigned a tax number that you will need when opening a corporate and a personal bank account. The process is going to take 5 to 8 business days.
Our services at this stage:
- Administrative support at the tax service.
- Opening several accounts with an Indonesian bank and obtaining corporate bankcards.
Stage № 4. Signing a partnership agreement with the exchange
You have to set up and verify a corporate cryptocurrency account before you can sign a partnership agreement with the exchange. When you have such an account, you can start negotiating the terms of the agreement. The negotiation process usually takes 1 to 2 months.
The subject of the agreement:
- Your company becomes a trade partner of a licensed exchange that provides crypto exchange services.
- Your company will be able to use the crypto trade instruments, the APIs, and the license that the exchange has to trade cryptocurrencies with the users of your company’s application.
Service provider’s requirements to partners:
- Existence of a corporate website (not required at the stage of signing the agreement).
- Integration of the partner’s application with the exchange’s application by use of APIs.
- Users’ profiles have to be registered in accordance with the KYC requirements.
- The CDD and EDD principles have to be followed as well as the laws regulating the AML, CFT, and CPF activities.
- KYT principles have to be followed when processing incoming and outgoing payments.
- Client and transactions reports have to be submitted to the master license holder on the company’s request.
Our services at this stage:
- Opening a cryptocurrency account;
- Making a partnership agreement with the exchange.
Stage № 5. Annual support
We also offer annual support services that include the following ones:
- Communication with banks and regulators;
- Accounting services;
- Corporate audit;
- Preparation and submission of reports.
We also offer the following additional services:
- Opening an extra bank account;
- Translations and apostilles for corporate documents;
- Changes to the company By-laws (company founders, their shares of ownership, the amount of registered capital, etc.).
The total cost of the service package starts at 42 700 USD.
Are you interested in becoming a partner of a licensed crypto exchange in Indonesia? If the answer is affirmative, please do not hesitate to contact our experts using the means of communication that you prefer.
