License for electronic money in the Czech Republic

Lawyers of Law&Trust Company provide services for free consulting of clients on the issues of obtaining license for electronic money in the Czech Republic. The state is a party to the EU, which simplifies the subsequent expansion of clients' business to other countries of the Eurasian continent.

In addition to the above advantage, entrepreneurs that are non-residents of the jurisdiction are taxed at a reduced interest rate and have certain benefits in financial transactions on online currency market.
Electronic money becomes a necessity progressively as the general development of society. Due to interactive wallets, you can pay for any product or service without leaving your office or home. A certificate is not required for user management of a private virtual account.

However, in the event that a legal entity plans to use the interactive currency continuously to conduct business or intends to create its own payment system, it must obtain license for the use of electronic money.
Only experienced lawyers know how to get permission for virtual money in the Czech Republic. This area of the legal sphere requires detailed study. You can apply for assistance in obtaining license at any time - Law&Trust accepts applications by phone, mail and in chat.

Online e-money license in the Czech Republic: procedure of obtaining

  1. Consultation. The counterparty should contact our company for private conversation with the specialist and receiving the application form. All forms are submitted to foreign jurisdiction in the state language, and translation is carried out by Law&Trust’s experts. The client's needs and the level of his chances of obtaining certificate for using electronic money are clarified during individual conversation.
  2. Collection of documentation package. In addition to the application form with the original signature of the counterparty, our specialists will need an official power of attorney, as well as a copy of the applicant's personal documents. After receiving these data, the specialist prepares a list of other official documents. Forms are collected in private and state structures.
  3. Preparation of the package for transfer to foreign jurisdiction. Lawyers are engaged in reconciling the data specified in each form for legal mistakes and inconsistencies. Professional translation takes one to two days depending on the extent of the documentation package. After the interpretation of the data, all the forms are certified by a notary.
  4. Procedure of consideration lasts from 4 to 6 months. First of all, the client's application is examined, then the expert commission draws attention to the level of the company's authorized capital and the documentation package. To accelerate decision-making and increase the chances of a positive response, it is necessary to attach a detailed business strategy of your corporation.
  5. Licence for electronic money in the Czech Republic is issued for an indefinite period with the need for an annual renewal. The renewal of the document is carried out with the help of our employees. The procedure does not require re-submission of the package of official documents or personal presence of the counterparty.

Jurisdiction of the Czech Republic makes significant demands on each type of counterparties. The application can be submitted by a natural person or a legal entity, regardless of citizenship and place of residence.

To obtain license for electronic money in the Czech Republic, it is necessary to register your own company and confirm particular level of nominal capital. You can find out all the recommendations and requirements for the staff during individual free consultation with one of Law&Trust's specialists.
 

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