The first step to establish a bank – is to define a person or a group of people who would take up registration and further management of that bank.

Those have to obligatorily be people possessing financial education and experienced in working in banks at the pots not lower than deputy bank executive or a branch executive.

The group of future executives prepares a brief business-plan, laying down the main directions of bank activities, indicating the expected location of the bank, defining the group of investors and main shareholders of the bank, list of prospective clients, reckoning by whom the bank will be built.

Further on, this group of bankers, maybe along with a representative of investors, meets the Banking Commissioner (Deputy Commissioner) of the state and submits the plan to him.

That is the most important meeting, upon which depends whether the bank will be or not. All future bankers and main investors are checked in advance in the most thorough manner. If the Banking Commissioner approved the creation of the bank and agreed with the business-plan, the bank creating group proceeds to bank creation proper.

Within this course, a more detailed and grounded business-plan is made out, premises (location) for future bank is selected and preliminary agreement for long-term rent or purchase of that premises is executed, the bank constituent instruments package is filled in and a contract between the bank shareholders is prepared.

In fact, two authorities have to issue the permission for bank registration. Inside a state, that is a body dealing with registration of financial institutions (the names differ from state to state). In Nevada that body is called Financial Institution Division and Federal Deposit Insurance Corporation. Under the law the bank has to be obligatorily FDIC Insured. After receipt of permissions the Secretary of the state enters the bank on the record and all the relevant deposits are made to Federal Deposit Insurance Corporation.

After that a Contract of tenancy is signed (or the bank office is purchased), staff is recruited, the bank receives all the required registrations, ABA number and opens all the necessary sub-accounts.

A Contract is signed with VISA or MasterCard payment systems to enable the bank to independently emit its own debit (and subsequently credit) cards for the customers.

Then all the documents required for operation of the bank are prepared with a lawyer, special computer system is procured, which receives all the access codes and passwords for operation inside the USA Banking System. After the computer system is ready and tested, the bank can start its activity.

The whole procedure takes from 6 to 12 months.

In reality it is necessary to have about 2 million dollars for registration of a bank in Nevada.

You can order with us an application for bank registration in the state of Nevada.

Each state has lots of laws governing operation of banks. We can provide some useful references to Nevada state laws, which you can find here:

http://www.leg.state.nv.us/NAC/CHAPTERS.HTML

Document NAC-657, NAC-658, NAC-659, NAC-662, NAC-665

http://www.leg.state.nv.us/NRS/

TITLE 55-BANKS AND RELATED ORGANIZATIONS

Chapter_657 to Chapter_666A

All the above concerns the bank working with public. Registration of an investment bank or of a Mortgage Company can be completed faster and cheaper.

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