Every company that provides financial services to customers such as consulting, service and trading is obligated to obtain an appropriate license. There are licenses for providing financial advice, for operating an exchange for trading, for operating a bank and providing banking services, for transfers or conversions of funds, and the like. Operating a company without a proper license can result in heavy fines at best and prison sentences at worst. Regulators in each and every country take the licensing process very seriously, and are in no rush to grant licenses, unless the company has successfully passed strict and thorough due diligence processes.
At Tal Ron, Drihem & Co., we have accompanied countless clients and assisted them in issuing financial licenses in Israel and abroad, and therefore know how to provide focused and on-point support on this matter until receipt of the sought-after license to operate the financial business. It should be added that sometimes (rarely, admittedly) the nature of the company’s activity does not necessarily require a license and a legal opinion can be utilized to operate the company.