Episode Transcript
[00:00:00] So it still takes six weeks to nine months to get the Curacao license. And if you hear anything less than that, so for example, you hear that it will take you a week to get the license, then you should consider an opportunity to run away because these guys, they have a different agenda definitely, and you don't want to work with them.
[00:00:20] It's very easy to explain this because there are just four master providers on Kurosawa and we work with all three active ones. So what takes one master provider nine months to get for you? So the entire process to make the due, Dell to incorporate you and to do the rest of operations takes just two months for another one. And for you as a business owner, usually it doesn't make any difference what license you will get because you will be able to work with the same payment system providers, with the same banks, and with the same software and hardware providers, just like if you would be working with any other Curacao license. So Curacao licensors, they are there to provide you with the same license from business perspective, with slight differences, but what makes for you is the time that it will take to get the license and also the cost of the license. Because these two things will either make or break the deal as the difference can be huge.
[00:01:33] And it's really not 2017 anymore because back then you could easily rent a license within a week and then play a pirate. Today the process is much more complicated than that. And, and it's much more serious than that because picture this, if you will rent me the license and then I do something bad, so I decide not to make any payout to my clients, then it's you who's going to be responsible in front of the clients and in front of the licensor. And it's going to be you who will lose the license and will lose any opportunity to apply for any other license. Because all the licenses are interconnected and during due diligence process this information usually appears.
[00:02:25] And if you make several mistakes, then your application can be easily delayed or denied. Because with every mistake it takes one week of time for the master licensor to get back to your application. Don't forget that they have hundreds of applications they are working on today at this very same moment of time. So it takes one week for them to get back to your application to check it again to provide a feedback. And if you do a bad job to fix those mistakes, then it will take another week to get through those again.
[00:02:59] So combining all mistakes together, you can easily add several months to your License application process, or if, let's say, you do something bad, really something that you shouldn't, and you lie to the licensor. So, for example, we had a case where one of my clients, they said that they have 5 million of venture capital, they are ready to invest in the business. So the licensor asked to provide the evidence and the proof of the funds, which was of course impossible to do since the client, he never had this amount of money. So in this case, the license was denied because they lied to the licensor. They tried to be bigger than they are, which was really unnecessary because it's so simple to get the license today that there is no point in doing that.
[00:03:59] So why would you need the Curacao license in the first place, right? Why not to choose the Maltese license or maybe any other license out there, like local licenses? So the best answer is that you get the best bang for your buck.
[00:04:15] So you get the best international license just for the fraction of the cost of many other licenses. You can hit multiple markets at the same time, so you can choose out of over 100 countries that you want to attack with your business and with your marketing. And the carousel license will be a good fit for that.
[00:04:38] And also you can get it pretty fast, so you don't have to wait for a year to get the license, which makes it the best investment for you if you are looking to start your business really fast.
[00:04:54] So many clients, before they get the license, they come to me and they say that, max, we need the license simply for the reputation purposes. So we want to have the license, we want to put something, some information on our site so our clients come to us and they trust us more. So this is the proof of credibility, which is just one benefit of the license, of course.
[00:05:18] But the biggest thing is that you are now allowed to work with the biggest payment system providers in the world.
[00:05:26] So something that wasn't available for you before, you can easily connect and use on multiple markets, because many PSPs, they actually check whether or not you have the license before they even take your application and do their own due diligence.
[00:05:46] So the second thing which is really important is software and hardware providers. So you will have an access to a broader market of multiple software providers, because many of them work with licensed businesses only. And even though there are plenty of solutions that you can work with without the license, still the license provides you with that opportunity to work with the best ones. So last, of course, is the banks, because opening your account in a bank will require two things. So the first, this bank should accept high risk businesses. And this bank will definitely check whether or not you have the license before taking your applications for due diligence. And for everyone who wants to work without the license at all, I can say that this is not a good idea. Even though there is a market. But at one point you can lose all your assets, all your money and lose your business eventually.
[00:06:44] Because payment providers that will provide you with this opportunity, they understand that you do not have any protection whatsoever on any level, not from the government, not from any other institution, not from the insurance companies or whatnot. So they can easily take your money and disappear.
[00:07:06] So I would not advise you to go that way.
[00:07:13] So the bottom line is that the Puracella license is a great choice. If you are looking to work on international level, on multiple markets. You do not focus on one specific market like let's say the United States or the uk.
[00:07:28] And if you are a startup or if you are in a process and you want to start cash flowing really fast without waiting for 12 months, you do not have 100,000, €200,000 to spend, then the carousel license is the great choice for you and you should apply for that. And to apply for the license you really have to go through three main steps. The first step is due diligence, of course, so licensor wants to know who they gonna work with, who is applying for the license. And you can download all the templates that you will need for right below this video. We've shared all the templates that you will need to apply for the Curacao license. So the due diligence you will have to apply for, you will have to provide the copy of the passport, the business plan, the proof of funds, some other documents necessary to actually explain who you are, what you want and how you're going to build your business.
[00:08:27] The second step is the incorporation of the Curacao company. So to get the license for the Curacao license, you have to have the Curacao company first.
[00:08:38] So this can be done remotely. You do not have to go anywhere, you do not have to take the plane and go to Curacao to set up the office. Everything is done remotely. You do not need any offices whatsoever.
[00:08:52] This is why it's so easy. And as soon as you get the Curacao firm, you will apply for the license itself. So this is where the due diligence kicks in in place. So all the paperwork that you provided, the licensor will take a look at all the paperwork and they do their work really good.
[00:09:11] So they will check whether or not you are a good fit for the license and if there are no shortcuts that you try to take and if everything is in accordance to all the norms then you should explain expect for the license and the license number in a short time and as well as for the badge that you can apply and you can add to the full of your site.
[00:09:36] Alright, so that's it for the Curacao license and I have created this quick video here where I explain all the countries that you want to avoid working under the license of Curacao. So do not cross the red line there.
[00:09:50] There are certain countries you cannot work under the license of Curacao. So go ahead and check that video and if you have any questions maybe you believe that I didn't cover some topics then send me a message and I will be happy to reply as soon as possible. Have a good time. Bye.
