It appears that it can take several weeks to be approved and get the trust account set up, in order to be able to participate. Is that correct?
No, it can be a week or two, if the client’s money is ready and everything checks out. If there are no glitches, red flags, failures of KYC compliance, or failures to cooperate, it can go quickly and smoothly.
Now you mentioned “trust account set up”. That is provided by Brilliance in Commerce (BIC), not the trade platform. Trust setup can be accomplished within a couple of business days from the date of purchase, but part of that timing again depends upon the client. This is because the client must know who will be the two trustees, who will be grantor, and who will be beneficiaries, in order to put this information on the Trust Client Information Form. That is a prerequisite to the trust being written. But once the form is submitted, then the trust can be issued within one or two business days.
If you are applying for a bank instruments trade platform and you want to get it going quickly, you may want to apply in your individual name or in the name of any existing legal entity you may already have, to get it going. Then once that process is moving ahead, you could turn your attention to setting up BIC’s House of Freedom International Natural Law Trust, and not feel pressured about the timing of it. Once that is set up and the bank account is opened for it, you could then perhaps ask the platform to change where they send your payouts to the new account of the trust.