Our dedicated team works closely with clients to support them in navigating the regulated environment in multiple jurisdictions. We have assisted several clients on innovative cases in the finech sector and provide tailored regulatory advice and corporate structuring to meet individual client requirements.
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led by experts
Our fintech leaders
Contact our support team and with any questions or queries you may have.
Dedicated assistance through relevant regulatory regime in jurisdiction
Licence application compliation (if required)
Company incorporation, VAT registration and provision of Directors
Regulatory compliance, company administration and maintenance of accounting requirements
Appointment of Money Laundering Reporting Officer (“MLRO”) and Data Protection Officer (“DPO”)
Establishment of bank accounts and advice in relation to fundraising
White paper drafting and review, development of tokens and smart contracts and assistance with security testing
Testimonials
What our clients say
Our bespoke services have formed our leading reputation.
“Affinity handled the application for our Gaming Licence in the Isle of Man. Funfair was the Isle of Man’s first Token Based Software Supplier Licence. Affinity handled the application process on our behalf and acted as liaison between our team and the GSC. We were given a dedicated contact, who was experienced and extremely knowledgeable when it came to the regulatory framework, licencing regime and our application process. The service was seamless, efficient and professional.”
FAQ
You ask, we answer
Why set up a fintech company in the UK?
• A robust regulatory environment with clear guidelines • Access to global financial markets and talent • Strong fintech ecosystem and innovation support • Sandbox opportunities via the Financial Conduct Authority (FCA) • Proximity to investors, accelerators, and professional services
What types of fintech businesses are most popular in the UK?
• Payments and e-money institutions • Digital banking / challenger banks • Lending platforms (P2P, SME, consumer) • Regtech and compliance tools • Blockchain and cryptocurrency services • Insurtech and wealthtech platforms
How do I register a fintech company in the UK?
• Choose a business structure (usually a private limited company) • Register with Companies House • Appoint at least one director • Provide a UK registered address • Comply with anti-money laundering (AML) and Know Your Customer (KYC) rules
Do I need to be a UK citizen to start a fintech company?
No, non-UK residents can form and own UK companies, but you may need local representation or compliance partners for regulatory purposes.
Do I need to be regulated by the FCA?
Yes, if you’re providing regulated financial services, such as issuing e-money, handling client funds, or operating a lending platform. Authorization is required from the Financial Conduct Authority (FCA).
How long does it take to get FCA authorisation?
Typically 6–12 months depending on the complexity and completeness of the application. The FCA offers a Regulatory Sandbox for early-stage firms to test in a controlled environment.
Why set up a fintech company in the Cayman Islands?
• A pro-innovation legal and regulatory framework • Zero direct taxes (no income, corporate, or capital gains tax) • Recognition as a global financial hub • Legal certainty and well-established common law system • A growing ecosystem for blockchain and digital asset ventures • Supportive regulators (e.g., the Cayman Islands Monetary Authority - CIMA)
What types of fintech businesses commonly set up in Cayman?
• Cryptocurrency exchanges and wallets • Token issuers and ICO/IEO vehicles • DeFi protocols • Virtual asset service providers (VASPs) • Cross-border payment platforms • Blockchain-based investment and lending platforms
What kind of legal structures are used for fintech businesses?
• Exempted companies: Suitable for international business with no local trading • Limited liability companies (LLCs): Flexible structure with corporate personality • Foundation companies: Often used for DeFi and DAOs • Segregated Portfolio Companies (SPCs): For tokenized funds or multi-asset structures
Is regulatory approval required to operate a fintech company?
Yes, depending on the business model: • Businesses dealing in virtual assets may require registration or licensing under the Virtual Asset (Service Providers) Act (VASPA) • Other fintech services may fall under CIMA’s broader financial service regulations (e.g., securities investment, payment services)
What is a Virtual Asset Service Provider (VASP)?
A VASP is defined under VASPA as a business that provides services such as: • Exchange between virtual assets and fiat currencies • Exchange between virtual assets • Transfer of virtual assets • Safekeeping or administration of virtual assets • Participation in or provision of financial services related to an issuer’s offer or sale of a virtual asset
Who regulates fintech businesses in the Cayman Islands?
• CIMA (Cayman Islands Monetary Authority) regulates financial services, including VASPs and securities investment. • The Department for Commerce and Investment (DCI) handles certain trade and business licensing for local activities.
Are there corporate taxes in the Cayman Islands?
No, there are no direct taxes—no income tax, capital gains tax, or withholding tax on Cayman entities. However, compliance with economic substance rules and international tax transparency regimes may be required.
Why choose the Isle of Man for a fintech business?
• Politically stable, self-governing UK Crown Dependency • Pro-business and tech-forward government • Zero corporate tax for most companies • Regulatory clarity for fintech (including crypto, payments, and regtech) • Robust infrastructure, including e-business zones and data centers • Access to UK and international markets while remaining outside the EU
What kinds of fintech businesses are commonly established in the Isle of Man?
• Blockchain and digital asset exchanges • Token issuance and custodial services • Payment services and e-money institutions • Regtech and compliance tools • Wealthtech and digital advisory platforms • Insurtech solutions
Can non-residents set up a fintech company in the Isle of Man?
Yes, there is no requirement for owners or directors to be Isle of Man residents, although appointing a local registered agent or licensed fiduciary is often required for compliance and administration.
What legal structures are available for fintech businesses?
• Private Limited Companies (LTDs): most common and flexible • Limited Liability Companies (LLCs): used less often, similar to US LLCs • Foundations or Partnerships: occasionally used for DAO or token structures
Who regulates fintech in the Isle of Man?
The Isle of Man Financial Services Authority (IOMFSA) regulates financial services, including fintech and virtual asset businesses.
What activities are regulated?
Fintech businesses must register or seek licenses if they: • Provide investment advice or deal in securities • Operate payment services or issue e-money • Offer digital asset custody, exchange, or token issuance • Run crowdfunding platforms or peer-to-peer lending
Is there a specific framework for crypto or digital assets?
Yes, the Designated Businesses (Registration and Oversight) Act 2015 and guidance from IOMFSA govern Virtual Asset Service Providers (VASPs), including exchanges, wallets, and ICO issuers. Licensing depends on whether the digital asset is considered a "security" or subject to AML oversight.
What licenses might I need?
Depending on your business model: • Class 8 license: for investment-related fintechs (e.g., securities tokens) • Payment Services registration: for e-wallets and payment platforms • Designated Business registration: for AML oversight of crypto-related entities
What taxes apply to fintech companies in the Isle of Man?
• 0% corporate tax for most businesses • No capital gains tax, inheritance tax, or stamp duty • No VAT for most financial services (unless local trading occurs)
Is there government support for fintech startups?
Yes. The Isle of Man offers: • Department for Enterprise (DfE) grants and incentives • Blockchain Office and Sandbox Framework for regulatory guidance • Digital Isle of Man initiative to promote digital business growth
Helping you navigate regulatory compliance in multiple jurisdictions.
We provide a range of tailored solutions to help our clients navigate the global regulated landscape, including compliance, licensing, data protection, and strategic support.
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