Approval fees for opening a new exchange

stomachgrowls

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Quote from: abhisheks77 on May 30, 2018, 01:10:05 AM

Hello,

I am trying to get an idea about opening a new exchange. I read that there are certain procedures to get approval, with fees, for individual countries. Read somewhere that to allow exchange operate in Japan, one needs to pay a fees of around $100k. Does it mean, if that exchange has to operate in 20 countries, will it be needed to pay such a huge fees ?
I tried finding this information online, but I couldn't find this data for individual countries.
Any tips ?

Thanks

Not its not! You would only pay up into the country of origin or where you located same as being said above.Traffic would really be in lots of countries and i dont see such restriction or does need to pay.If there are legalities or laws like on several countries then its better to avoid that matter if you dont like to be fined.

Quote from: Opsondell on May 30, 2018, 02:09:27 AM

i can link you up for a cheaper approve add me on my skype id: opsondell

Dont believe such person, this would possibly lead you to someone which isnt legit at all for the reason of scamming.

shield132

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Quote from: abhisheks77 on May 30, 2018, 01:10:05 AM

Hello,

I am trying to get an idea about opening a new exchange. I read that there are certain procedures to get approval, with fees, for individual countries. Read somewhere that to allow exchange operate in Japan, one needs to pay a fees of around $100k. Does it mean, if that exchange has to operate in 20 countries, will it be needed to pay such a huge fees ?
I tried finding this information online, but I couldn't find this data for individual countries.
Any tips ?

Thanks

LeGaulois <-- said everything perfectly but I'll just add something. Since you offer any service, it's worldwide and even in country restrictions, anyone can visit with vpn on their own.
If you plan to have offices in those 20 country (which I highly doubt) or want have specific domains like exchange.uk exchange.us and etc, then maybe you need to pay some additional fees but not much.
That's all, it's better for you to choose country which helps bitcoin startups or this industry, for example bitfury has tax free mining zone in georgia, here aren't great exchangers so maybe very serious project can get some lower fees.

LeGaulois

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What you're talking is like a license to operate a company.

You only have to pay in 1 country only, the one you (the company) are located. If you're located in England, you pay in England, not in South Africa. You also can't know the country of your users, I mean you won't download your google stats and filter by country, then download the country list and then contact each administration of the said country. It's just silly.
You may have 1 or 2 exceptions (I am thinking about The USA for example).

For this kind of business I really advise you to consult a specialist ( a lawyer or someone specialized in this niche)

ManaMan

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Quote from: abhisheks77 on May 30, 2018, 01:10:05 AM

Hello,

I am trying to get an idea about opening a new exchange. I read that there are certain procedures to get approval, with fees, for individual countries. Read somewhere that to allow exchange operate in Japan, one needs to pay a fees of around $100k. Does it mean, if that exchange has to operate in 20 countries, will it be needed to pay such a huge fees ?
I tried finding this information online, but I couldn't find this data for individual countries.
Any tips ?

Thanks

If you are serious to run your own exchange why don't you go and acquire a layer that might know more information for your country. Many of us here on forum are from different countries and thus we are not familiar with all the laws and fees that apply in other countries.

Opsondell

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i can link you up for a cheaper approve add me on my skype id: opsondell

abhisheks77

newbie

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Hello,

I am trying to get an idea about opening a new exchange. I read that there are certain procedures to get approval, with fees, for individual countries. Read somewhere that to allow exchange operate in Japan, one needs to pay a fees of around $100k. Does it mean, if that exchange has to operate in 20 countries, will it be needed to pay such a huge fees ?
I tried finding this information online, but I couldn't find this data for individual countries.
Any tips ?

Thanks

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