Obtaining a license for electronic money 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.