Small Payment Institution (SPI) License | Law&Trust International

SPI License: obtaining and effective use

Every company that wants to operate in the financial market segment of a particular state should obtain corresponding permission. SPI license (Small Payment Institution license) is issued to applicants who have fulfilled a number of mandatory requirements. The abovementioned license is issued in the territory of the UK and Ireland.

The main criterion according to which the company can obtain license is annual turnover of the company. At the same time, the type of activity of the company, except for financial one, does not matter. Small Payment Institution license is issued only to those companies which annual turnover of funds does not exceed 3 million euros.

Obtaining Small Payment Institution License: Requirements

In order to obtain license, the company shall meet the following minimum requirements:

Requirements:

  • Organizational and legal form of the company should be either Partnership or Limited Liability Company (LLC);
  • The head office of the company should be located in the territory of the UK, and branch management should be carried out through representative office registered in the United Kingdom;
  • Before obtaining SPI license, it is necessary to provide comprehensive information about the founder, shareholders and investors;
  • The employees of the management should have excellent reputation and should not have any criminal records.
Additional requirements are imposed on the applicant's authorized capital, but much depends on the sphere of activity of the company.
The cost of SPI license consists of payment of the state duty, as well as other fees, which our specialist will specify for you. We ensure a simplified system for obtaining license within the shortest possible time, which gives you the opportunity to quickly develop in the selected business sector. Applications for service are accepted by phone and by mail of Law&Trust.
Law&Trust International offers to obtain license in full compliance with the legislation of the country and without wasting time. Our specialists are ready to advise you regarding any relevant issues, and also provide legal support for your company from the stage of collecting documentation up to obtaining license.

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Svetlana Artemenko
Legal Adviser
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Vladyslava Volianyk
Junior Legal Counsel
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Annie Lingerman
Senior Lawyer
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Ekaterina Bogatova
Lawyer
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Aleksander Shushin
Lawyer
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Anastasia Alexeeva
Paralegal
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Victoria Zhelezova
Branch Director, HR
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Dariia Grib
Legal secretaries & Receptionists
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