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EMI license in IRELAND
For the past 5 years, the electronic money sphere has been developing at the rapid-fire pace. It is virtually impossible to imagine our modern world without electronic payment systems. The cryptocurrency boom of 2017, which introduced new technologies to the world, also contributed to the development of this industry. However, despite the fact that the field of international electronic payments is developing rapidly, this niche is still not filled. This area is very promising and any project can earn worldwide fame.
However, in order to open business of this kind, it is necessary to choose a suitable jurisdiction. Ireland will be one of the best options. This country offers favorable terms for the companies from this industry. However, in order to conduct such activities, it is necessary to obtain EMI license in Ireland. Law & Trust offers its clients the legal assistance in paperwork for the companies specializing in electronic payments.
What does EMI license give a COMPANY?
The license of payment system in Ireland allows the customers to conduct financial activities related to electronic money. The companies that have obtained this license receive the following opportunities.
Перечень
- Проводить эмиссию электронных денег;
- Оказывать услуги оператора электронных платежей;
- Проводить платежи для третьих лиц(money remmitance);
- Работать законно и без риска претензий со стороны контролирующих органов.
After registering a company and obtaining a license to operate activities using electronic money, you can provide services around the world and also get certification in the European Union.
Requirements for Obtaining EMI LICENSE
It is not easy to obtain permission to issue electronic money in Ireland. CBI - the Central Bank of the country – issues these documents. The requirements for obtaining a financial license in the country are as follows.
Перечень
- Уставный капитал компании – от 350 000 EUR;
- Бизнес-план, схемы внутреннего контроля, структуру и управление компанией;
- Персонал – минимум 2 директора-резидента Ирландии, количество акционеров до 50, секретарь, аудитор (можно заключить договор оказания аудиторских услуг на аутсорсинге);
- Офис на территории Ирландии.
The companies carrying out the relevant activities are required to maintain tax and accounting records and regularly submit reports to the regulatory authorities, including the audited ones.
STAGES OF OBTAINING A LICENSE
The procedure of obtaining a permission to financial activities in Ireland includes three steps. The stages of obtaining E-money license are as follows.
Перечень
- Подача заявки. Заявка подается с пакетом документов. Регулятор рассматривает ее на протяжении 3 дней, после чего принимает решение о подтверждении или отказе в рассмотрении заявки;
- Проверка документов. Если заявка подтверждена, регулятор проводит проверку представленных документов. Процедура занимает до 10 рабочих дней. Если сведения подтверждаются, начинается третий этап;
- Оценка компании. Регулятор обязан проверить соответствие компании требованиям. По закону на это отводится срок в 90 дней. Срок может затянуться, если регулятору потребуются дополнительные данные.
If all the data is confirmed and the company meets the requirements, the regulator should issue a license. After receiving all the necessary information, the CBI makes its decision and issues the document within 10 working days.
What taxes do the companies PAY?
The taxation system for the entities working with electronic money is very loyal in Ireland. As of 2020, the income tax rate is 12.5%.
Law & Trust offers its services for corporate clients working in Ireland. Our experts will help you to complete all the necessary documents and fully accompany the procedure for obtaining the electronic money institution (EMI) license.
