Eternity Law International News EMI and PI license in Spain

EMI and PI license in Spain

December 14, 2022

In recent years, Spain’s financial realm has experienced a profound transformation, aligning itself with the global trend towards digitization and the rapid evolution of fintech solutions. This shift has not only altered the way both individuals and businesses engage in financial transactions and sales but has also underscored the need for robust regulatory measures to ensure the security and stability of the financial sector. In this evolving landscape, Electronic Money Institution (EMI) licenses have emerged as a fundamental pillar of Spain’s regulatory framework.

The Concept of E-Money: Pioneering a Modern Financial Landscape

Electronic money, commonly referred to as e-money, embodies the digital evolution of traditional currency. It encompasses a wide spectrum of financial tools, ranging from bank accounts, prepaid cards and digital wallets to online payment platforms and virtual currencies. In Spain, as is the case globally, the utilization of e-money has witnessed a remarkable upsurge. 

EMI Licenses in Spain: Meeting Regulatory Requirements

Securing an EMI license in Spain is a comprehensive process that requires adherence to strict regulatory requirements. These requirements are designed to ensure that EMI providers maintain a high level of financial stability, consumer protection, and compliance with financial laws.

Advantages of EMI Licenses in Spain: Unlocking New Horizons

Obtaining an EMI license in Spain opens doors to a multitude of advantages for financial service providers. These advantages extend beyond Spain’s borders:

  1.     Access to the European Market: Spain, as a European Union member, offers EMI license holders the unique privilege of passporting. This allows companies to expand their services seamlessly across the EU, tapping into a vast and diverse market of over 500 million consumers.
  2.     Enhanced Trust and Credibility: An EMI license serves as a testament to a company’s commitment to regulatory compliance and financial stability. It builds trust among customers and partners, fostering long-lasting relationships and enhancing brand credibility.
  3.     Diverse Service Offerings: EMI licenses empower companies to diversify their service offerings. This includes issuing bank accounts and electronic wallets, processing payments and sales, and facilitating cross-border money transfers. Such versatility positions EMI license holders to cater to a wide range of customers and business opportunities.

Navigating the EMI License Application Process in Spain: A Comprehensive Guide

Acquiring an EMI license in Spain involves several critical steps, each requiring meticulous attention to detail:

  1.     Company Formation: Establishing a registered company in Spain is the first step. The company’s structure should align with regulatory requirements, and it must meet the stipulated capital levels.
  2.     Application Submission: A thorough and well-documented application is essential. This should include a comprehensive business plan, details of AML/KYC procedures, and a clear roadmap for compliance with relevant financial laws and regulations. This application is then submitted to the Spanish regulatory authority to avoid issues.
  3.     Background Checks: Regulatory authorities will conduct extensive background checks on your company, its directors, and shareholders. This is to ensure both financial stability and the integrity of the individuals involved.
  4.     Compliance Focus: Throughout the application process and beyond, maintaining strict regulatory compliance is paramount. Any deviations from the established rules can lead to license rejection or even revocation.
  5.     License Approval: Once your application is approved, you will receive your EMI license. This signifies that your registered company is now authorized to operate legally in Spain and throughout the EU.

Comprehensive Support for EMI Licensing

Given the intricate nature of the EMI licensing process, seeking professional assistance is highly recommended. Our services encompass:

 Consultation: Our team of experts provides in-depth guidance on EMI licensing requirements and procedures in Spain.

 Application Assistance: We offer comprehensive support in preparing and submitting your license application. Our aim is to ensure that all necessary documentation and information are in perfect order.

 Compliance Support: Regulatory compliance is an ongoing commitment. We provide continued assistance to help your company adhere to regulatory standards, ensuring long-term viability and maintaining trust among your customers.

Taxation of EMI Companies in Spain: The Financial Implications

Operating as an Electronic Money Institution (EMI) in Spain comes with not only regulatory compliance responsibilities but also tax obligations that need to be understood and managed effectively. In this section, we will delve into the key aspects of taxation that EMI companies in Spain must consider.

  • Corporate Income Tax

EMI companies in Spain are subject to corporate income tax on their profits. This tax, known as Impuesto sobre Sociedades (Corporate Income Tax), is applied to the net income generated by a company’s operations.

Tax Rates

  • The corporate income tax rate in Spain can vary depending on the size of the company and its annual turnover. The standard corporate tax rate is 25%. However, reduced rates may apply to small and medium-sized enterprises (SMEs)..

Tax Incentives

  • Spain has implemented various tax incentives and deductions to encourage investment and innovation. These incentives may be available to EMI companies that meet certain criteria. Some common incentives include:


Determining the Cost of an EMI License in Spain: Budgeting Considerations

The cost of obtaining an EMI license in Spain can vary widely, depending on numerous factors. Businesses must consider the complexity of their operations, the level of professional assistance required, and ongoing compliance costs when creating their budgets.

Our Distinctive Advantages: Your Pathway to Success

Selecting the right partner to guide you through the EMI licensing process in Spain is pivotal to your success. Our advantages include:

Expertise: Our team boasts extensive experience in Spain’s financial and regulatory landscape, ensuring that your application is handled with precision and expertise.

Tailored Solutions: We understand that every business is unique. We provide personalized solutions that cater specifically to the needs and objectives of your company.

 Efficiency: Time is of the essence in the rapidly evolving fintech landscape. We streamline the application process, minimizing the time and resources required to obtain your EMI license without issues and with fair price. This allows you to focus on growing your business and capitalizing on the dynamic opportunities within Spain’s fintech sector.


As Spain continues to embrace the digital transformation of its financial sector, EMI licenses play a pivotal role in ensuring the smooth operation of electronic money businesses. These licenses provide a regulatory framework that fosters trust, enables market expansion, and promotes innovation. If you’re considering venturing into the electronic money space in Spain, our expert team is here to guide you at every step with a fair price. We are committed to ensuring your success in this exciting and ever-evolving fintech landscape, enabling you to harness the full potential of EMI licenses in Spain.

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