Licenses for electronic money

Obtaining license for electronic money

We offer professional services for obtaining an e-money license in various jurisdictions. Our specialists will help you with registration, fulfillment of requirements and provide full support at every stage. Regardless of the type of license - commercial, investment or offshore - we guarantee compliance with all regulatory standards.

What is electronic money?

Electronic money is the digital equivalent in value of cash that is stored or exchanged in digital computer systems over the Internet.
Currently, almost all banks and many other organizations accept this form of payment and make payments with this type of money.

Why get an EMI license?

Obtaining an e-money license is an important step for entering the financial market. The procedure ensures the legality of your activities, strengthens customer confidence and opens access to international financial instruments. Our team will help you successfully complete this process and create a solid foundation for your business.

Advantages of an electronic money license

Many countries pay attention to e-money: European, American, African, Asian. Such interest is caused by a number of advantages that are unique to electronic money, among them:

Speed of transfers;
Possibility to work with different currencies at the same time;
Management of electronic money via the Internet;
Cryptographic protection against potential hacks;
Cheap issuance

Document requirements for obtaining an EMI license

Our team has formulated several requirements for the documents:

Document	Note
Passport data of the founders	Certified copies
Certificate of no criminal record	For all key participants
Financial statements	Proof of income sources
Business Plan	Must include strategy and business forecasts
AML documentation	Anti-money laundering policies and procedures
Bank statements	Proof of authorized capital in the prescribed amount
Qualifications of key employees	Proof of experience in senior financial management positions (at least 5 years recommended)
IT and security strategy	Most jurisdictions require data protection plans and systems and infrastructure to protect all data as well as the bank accounts themselves

Where to get an e-money license?

What, why, why, why, how - it's all understandable. But where?
Our company offers you to acquire such license in the following jurisdictions: Lithuania, Czech Republic, Belize, United Kingdom, Cyprus, Latvia, Panama, Ireland, Nigeria, Singapore.
We note that obtaining this license in an EU member state may allow you to operate in other EU member states. But be warned that this will require certification and a small number of additional steps.
In case you need another jurisdiction, we will assist you.

Conditions for obtaining an e-money license?

Is it enough to just have a company?
Alas, no. Each state has its own requirements for organizations that want to obtain a license for electronic money. However, we note right away that the conditions below may vary from one country to another, the exact conditions by jurisdiction should be checked with professionals.
Conditions:

The company should have financially experienced employees and relevant positions.
Presence of an office in the country. The branch must be operational and have the minimum number of employees allowed by law.
A business model and having written policies and procedures to support it.
An application fee as well as payment of an equivalent amount of assets as an annual fee once the license is granted.
The amount of authorized capital depends on the scale of the corporation itself. For small businesses, it is approximately €50,000, with the amount varying from jurisdiction to jurisdiction.

What about the process? What about the timeline? How does it work and how quickly can it be done?

Preparatory phase

Before beginning the licensing process, an analysis of the applicant's readiness to meet the regulatory requirements of the chosen jurisdiction is conducted. This stage includes:
- Jurisdiction selection: examining the countries' advantages and requirements;
- Business plan development: includes revenue projections, market strategies, marketing and risk assessment;
- Compliance analysis: assessing company structure, employee qualifications and capital availability.
Company registration

To apply for an EMI license, a legal entity must be registered in the chosen jurisdiction. This includes:
- Selection of a suitable legal form of incorporation;
- Appointment of key persons (director, AML officer, internal auditor);
- Opening a corporate bank account to deposit minimum capital.
Preparation and collection of documents

At this stage, a package of documents is prepared, including:
- Corporate documents of the company: articles of association, registration certificates;
- Documents on the founders and key employees: certified copies of passports, certificates of criminal record, confirmation of qualifications and experience of key persons;
- Financial documents: business plan, financial projections, confirmation of capital sources;
- AML/CTF policy: anti-money laundering and counter-terrorist financing policies and procedures;
- IT and security systems: data and operations protection plan.
Applying for an EMI license

Once the documents are prepared, the application is submitted to the jurisdiction's regulator (e.g., Central Bank).
The regulator verifies that the documentation is complete and meets the requirements;
Payment of registration fees and mandatory minimum capital.
Application review

The review process includes:
Checking the reliability and reputation of the founders: sources of funding, AML compliance;
Analyzing the business plan and governance structure: verification of the financial model and risk management strategy;
Assessment of technology systems: compliance of IT systems with security standards.
Obtaining a license and starting operations

Upon approval by the regulatory authority:
A license is issued authorizing the provision of e-money services;
The company must comply with regulatory requirements, including regular reporting, auditing and maintaining required capital levels.

Okay, uh. I think we've covered everything. except who to go to?

When applying for such a service, make sure that the organization is reliable and its employees are professional. Any actions related to obtaining a license for electronic money should be correct and fast. Without qualified lawyers, any mistake in the worst case will lead to the refusal of the regulator to grant you a license, and in better cases - will lengthen the terms of obtaining permission.

Our lawyers will assist you in obtaining an e-money license. We will accompany you every step of the way.
If you are still not sure, contact us. We will be sure to answer your questions and provide assistance.