>>I'm sure you know this - make sure to find out the legal requirements for any banking solution, even a small one like you described. And whether it needs to adhere to Canadian laws, U.S. laws, etc.
>
>This is not for the continent. Would you have any reference for those legal requirements that would be nice to consider, for a business plan phase?

Have not checked recently (and european rules are certain to differ) the minimum capital needed has been raised. Also you are forced to have people having expirience in banking as CEO and members of the board (over here must be 2 different sets of people).

Also you have a slew of documents to send to the regulator (BAFIN here) and still run the risk of having trouble if overseas contacts involve certain countries like Iran.