Subject: Client needed a license to operate in a new country
A Client came to us with its decision to enter in a new market and getting licensed in the country
Our Task Was
The client initially wanted an introduction to a legal counsel or licensing firm to help them submit a license to operate in a new country. We could just recommend a firm that could help them or if they wanted we could oversee the process with the recommended firm advising them in a number of decisions to streamline the process, make suggestions that could save time and money.
What We Did
The client decided to hire MWC to oversee the licensing process
- Knowledge: Leverage our understanding and knowledge of the market, recommend the best corporate decisions with regards to ownership & representation to expedite licensing
- Briefings: Provide bi-weekly briefings to Project Leader on meetings with legal counsel, on decisions to be made and recommendations, using legal counsel time efficiently.
- Contacts: We initiated consultation with banking institutions on the aspects that needed to be covered in the licensing process to ensure the establishing of bank relations once the license would be approved
- We helped the legal teams resolve a number of situations that required decisions to be made, funds to be secured, compliance and audit firms to be retained and local financial institution partnering prior to licensing
The recommended Legal Counseling firm was present since day one and where happy to delegate MWC the constant explaining/information of country requirements that required both, business-based decisions and legal-based decisions). A compliance-audit firm was brought in to provide the regulator with the confidence & security of in-country professional advice.
- The license was obtained in record time
- Banking relations were secured before licensing was approved
- Company started operations soon after licensing was obtained
- Compliance & Auditing arrangements were initiated during licensing benefiting the licensing procurement and safe operations in new environment
Most of the time licensing can be done by legal counsel alone but certain jurisdiction benefit from consulting guidance to proceed faster, move swiftly and save time and money.
* Note: The case studies are real although we have changed some of the details to respect the privacy of our clients.