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PAYMENT LICENSES

PAYMENT LICENSES

Today we will tell you how to get a license to conduct a payment business in some countries. If an entrepreneur wants to provide financial services, he should contact the regulator of the relevant jurisdiction, fulfill the requirements and provide the necessary set of documents. Then the appeal will be considered and a license will be issued a few months later.

EMI license in Serbia

Banks, payment systems, and Internet money can operate in the territory of Serbia.

Conditions for obtaining a license:

  • Request from a legal entity – a company or a partner.
  • Geographically, the office of the company must be located in Serbia.
  • You need proof that the right measures have been taken to protect the money of customers of the payment system.
  • Availability of starting capital of 350,000 EUR or more.

The license is issued within 3-6 months. Subject to these requirements, the company can provide payment services in the country and abroad.

Payment license in Bulgaria

To obtain a business permit in this country, you need:

  1. Provide proof of non-conviction.
  2. Provide a scan of the beneficiary’s passport.
  3. Provide information about the actual place of residence of the applicant.

The National Bank requires:

  1. Business plan for 3 years ahead.
  2. List of methods for combating fraud and fraud.
  3. Confirmation of the authorized capital from 100,000 leva.
  4. List of items of income.
  5. Copies of the founding documents of the company.
  6. Leadership experience. They must have evidence of their professionalism.
  7. Rented office space. This is an important requirement.

Documents must be translated into Bulgarian and be certified by a notary.

Australian Payment System License

To get it, you need to go through some steps:

  1. Open a company in Australia or its branch in this country.
  2. Create a legal entity ID.
  3. Prepare documents for the company and personal papers of the beneficiary.
  4. Office lease agreement.
  5. Indicate the address of residence (for public services).
  6. Proper experience of the directors and the beneficiary of the company in the field of finance.
  7. Pay the application fee.

EMI license in the Czech Republic

To engage in payment business in the Czech Republic, you will have to issue two licenses – for electronic and virtual money.

Steps to get permission:

  1. Office rent in the Czech Republic.
  2. Availability of authorized capital from 350 000 EUR.
  3. Business plan and company development plan for 3 years ahead.
  4. Information about the availability of the necessary equipment, workers, and monetary base.
  5. Development of a management system that will fully comply with the legal requirements of the Czech Republic.
  6. Ensure the protection of resources that have been received from clients.
  7. Confirmation of the fact that there are no other risky activities.

In this country, the most important thing is to have a business plan. Having collected the necessary papers and contacting the regulator, you can obtain a license to operate the payment system.

Permission to operate PS in Ireland

Requirements of the regulator to the company:

  1. From 2 directors, citizens of Ireland.
  2. From 1 to 50 shareholders.
  3. An official who is responsible for the financial direction of the project.
  4. Availability of a risk manager on a full or part-time basis.
  5. Secretary (full or part-time).
  6. Stamp of the company.
  7. Having a physical office located in Ireland.
  8. Starting capital from 350 000 EUR. There is an option to change the established capital, but only by special consideration of the business plan.
  9. Readiness for checks.

An application for a license in Ireland is considered within 10-20 days but is approved only after 3-6 months. There may be additional requirements, which will be notified to the applicant, up to 2 months from the date of submission of papers for obtaining a license.

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