Licenses for electronic money | Law&Trust International

Obtaining license for electronic money

Electronic money is an improvement in the moneyed interests. Nowadays, they are increasingly accepted in banks and other organizations for conducting internal and international transactions.

Experts predict rapid replacement of all other forms of payment by electronic money because of their significant advantages.

  • They do not require exchange, there can always be several currencies in the digital wallet, which will allow to avoid unnecessary conversion procedures.
  • It is possible to use electronic money remotely, and transfers are conducted instantaneously.
  • Finance of this type can not be counterfeited, and they are protected from being atolen by many stages of authorization, as well as cryptographic codes.

Law&Trust offers to assist in obtaining license for electronic money, so that you can start enjoying the advantages of modern technologies before others.

Our lawyers conduct free consultations regarding legal issues related to implementation of modern payment systems into your system of business activities.

You can find out the details by calling the numbers indicated on the website.

Where is it possible to obtain license for electronic money and what is the purpose?

Few clients of large corporations have positive attitude towards large-scale changes in payment systems, and majority do not put trust in Internet technologies.

Obtaining permission to issue electronic money gives opportunity to prove transparency and reliability of your company to the counterparties.

Obtaining licenses with our help are carried out in the following countries: Lithuania, Czech Republic, Belize, Great Britain, Hungary, Germany, Cyprus, Australia, Latvia, Malta, New Zealand, Panama.

Before registering the rights to operate with electronic money transactions, it is necessary to undergo the procedure of internal control of documents, systems of interaction with clients and miscellaneous procedures depending on the requirements of the selected state.

Most EU regulators require compliance with the following conditions

Following conditions:

    1. The company should have at least 3 directors. All of them, as well as shareholders of the corporation, should have work experience in the financial sector.
    2. Certain regulators require the availability of office in the EU countries. The branch should be active and have considerably small number of employees. The foregoing requirement is infrequent, and if it is the only obstacle, then we will select another jurisdiction for you.
    3. Amount of the authorized capital depends on the scale of the corporation itself. It is equal to 50,000 euros for small businesses, 350,000 euros - for medium-sized firms, and business with larger turnover should confirm the availability of approximately half a million euros. The amount may vary depending on the field of activity.
    4. Presence of written policies and procedures to ensure your business model.
    5. Fee for submitting the application, as well as paying the equivalent of the amount of assets as annual commission after obtaining license.
The most frequent question from the clients is the following: what is the cost of license for digital cash? Specific amounts can be clarified by phone due to the large number of jurisdictions and various state fees.
The main advantage of processing permission in one of the EU countries is that you can work with the foregoing license in the states all over Europe, but after procedure of passportization.
Law & Trust offers licenses for electronic money online, and the decision on granting or refusal by licensors-partners of our company is issued upon completion of two stages, namely: analysis of the business plan of the corporation, as well as prompt verification of the board of directors.

Our clients

Our team