Guiding you through the licensing process

Our services

Nexus FinTech provides strategic and operational guidance and advice to facilitate and support businesses in the digital sector looking to obtain a VASP license in the Isle of Man.

This strategic advice, based on years of experience in this payments and FinTech industry aims to overcome common pitfalls, minimise time and costs and ensure the strongest outcomes when dealing with regulators.

Nexus can provide the following services to support your VASP licence application and setup on the Isle of Man:

Licensing Support

Assistance with registration and licensing process: liaising with regulators and advisors to managing the licence submission process itself.
Nexus will work closely with the regulator throughout the licence authorisation phase to facilitate a smooth and efficient process.

Regulatory Guidance

Nexus will provide guidance and advice on managing regulatory requirements as well as best practice and can assist in preparation of all procedures and controls necessary to operate a licenced entity.

Project management

Nexus can support the development of your business plan, collaborating with your team to ensure the submission is a true representation of your proposed business.

Provision of key officers

Nexus can provide key roles as part of your VASP licence application; and also assist in recruitment, screening, and F&P assessment of any other role holders you require as part of the application.

Corporate structuring

Nexus can assist in the formation, setup, operation and provision of key personnel for your Isle of Man corporate structure. Alternatively, we can introduce you to a panel of FinTech focused corporate service providers on Island.

Collaborative tech platform design

A VASP cannot operate manually, its payment and technology platform is the lifeblood of its offering and it is vital that the tech not only meets the regulatory requirements but has all of the necessary onboarding, assessment, ongoing monitoring, and reporting mechanisms.

Nexus can work with your technology team to ensure that your platform everything it needs to ensure a successful licence application and efficient operating lifecycle.

Resources and personnel

As part of any new licenceholder applications or registrations, an applicant is required to build a team of trusted and suitably qualified and experienced professionals - Nexus FinTech can introduce, refer, sub-contract, or employ the right people to suit your needs.

Post licensing incubation services

As part of our licensing services, Nexus FinTech offers a post-licence incubation and support service - where it provides key personnel, IT systems, and payment infrastructure to the newly licensed VASP to assist it during the critical first few years.

Ongoing guidance and mentorship will be provided to your team to enable them to learn and scale effectively and appropriately, in line with both shareholder and regulator expectations.

Nexus FinTech will provide key personnel until the business is ready to install their own and take full operational control, at which point, based on the nature and scale of the support, Nexus can step away entirely or move into an ongoing consultancy role.

Ongoing consultancy

Nexus FinTech can remain as an appointed Consultant after the post-licence incubation period, providing a range of compliance, audit, governance, or financial services - based on the nature and scale of the licenceholder's requirements.

Fees

Nexus FinTech offers a variety of fee structures and pricing models based on the individual requirements of your business. Our primary aim to ensure successful licence applications and as such, can tailor our fees accordingly - including success bonuses and revenue shares after launch.

Please contact us for more information.

Interested in applying for an Isle of Man VASP licence?

Please contact us for a no obligation discussion around the requirements for an IOM VASP licence.