Under the International Banking legislation, two types of licenses are permitted as follows:

Class A Banking License

Permits the licensee to conduct offshore banking generally.
A minimum paid-up capital of US$1,000,000 is required.
Of this paid-up capital, US$500,000 must be invested in a manner prescribed by the International Financial Services Authority.

Class B Banking License

Permits the licensee to engage in offshore banking with a fixed list of clients.
A minimum paid-up capital of US$500,000 is required.
Of this paid-up capital, US$100,000 must be invested in a manner prescribed by the International Financial Services Authorit


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