Eternity Law International — News — EMI license in Czech Republic

EMI license in Czech Republic

Published:
October 12, 2022

Businesspersons pass the appropriate licensing process for launching organizations dealing with e-money. After passing this procedure, firms receive EMI license in Czech Republic – a European standard document; thanks to this, a firm may operate anywhere in the EU.

Why is it advantageous to get E-money institution license in Czech Republic?

Such a firm has rights of exchanging e-funds for monetary means, offering financial services possessing options of splitting or accumulating assets without time-frame or restrictions on payment variants. Funds payments when exchanging for e-finance is an obligation of a company having permission. EMI in Czech gets rights to work with e-wallets, particularly, proffer all services connected with opening and maintaining the functionality of online wallets. Thus, EMI has rights to deal with e-funds and offer determined standard services as payment organization.

Submitting appropriate form to regulatory body for E-money and Payment Institution license in Czech, it’s obligatory to comply with all next-mentioned rules.

  1. Operations description with real calculations for min 3 quarters.
  2. Official establishment as an enterprise.
  3. Starting capital is 350, 000 EUR.
  4. Possessing enough resources to start commercials.
  5. A clear supervising mechanism meeting all norms and laws of jurisdiction.
  6. Availability of a qualified head with huge expertise in this sphere.
  7. Possibility to protect finances obtained from any operations.
  8. No stability threat from other businesses under applicant’s ownership.
  9. No criminal record and bank guarantee.

Usually, the process of getting Czech Republic E-Money license lasts approximately half a year. Preparative phase lasts approximately 90-120 days. Costs of obtaining a permit varies, depending on a lot of factors.

Legislative basis for Electronic Money Institutions in Czech

According to local laws, jurisdiction possesses rights to control operations of all businesses providing e-funds services. Executives need to know: Electronic Money Institutions (EMI) in Czech Republic permits companies to legally perform operations related to e-money within Europe. Permits are issued by national authority of jurisdiction.

Bulk of operations must be carried out in Europe, since this’s one of main conditions indicated in permission. For fulfilling of the requirement a clear commercial plan is drawn up, which the company must follow in strictness. This document needs to be scheduled for 3 years in advance and contain data about what mechanisms company will implement to attract European clients.

Our experts have been providing support in registering and licensing companies for many years, so they will do their job efficiently and quickly without wasting time on your part. We are ready to give you comprehensive assistance in getting Czech payment system license. We’ve many options for ready-made companies for sale – turn-key solutions being absolutely ready for further operation. Contact us now.

You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale” and “Licenses for sale”.

You could be interested

Company registration in Macedonia

Macedonia is a jurisdiction that is open to foreign investors. The country offers favorable and flexible conditions for entrepreneurs interested in developing their business and expanding opportunities for their company. Stages Founders are required to provide at least three names for the company, chosen at their sole discretion. After a short-term check has been carried...

Financial services provider in New Zeland

For the corporation to start generating income as quickly as possible, a corporation needs to find its niche and work quickly. Financial`s are considered the most reliable way to make money. The annual turnover of this sphere amounts to trillions of dollars. Therefore, when founding their legal entity, investors look for regions with the most...

How to apply for an EMI license in the EU

E-money is a digital form of cash which within the European Union is deemed the value in currency, recorded and maintained on an e-medium. E-money is provided by an EMI upon receipt of funds from clients in the amount not less than the provided monetary value and is deemed as a form of payments by other...

Offshore updates in the Fintech

The Fintech industry has been experiencing significant offshore updates in recent times, leading to a global transformation in monetary favors. Offshore locations, traditionally known for their favorable adjustment environments and economically efficient operations, have become hotspots for fintech innovation and expansion. One of the key drivers behind offshore regulatory updates in Fintech is the advancement...

Money Service Operator License in Hong Kong

If a company provides services in financial field, it must obtain a MSO – Money Service Operator license, which is issued by the Department of Customs Duties and Excise (CCE). This license required in accordance with the provisions of the Anti-Money Laundering and Terrorist Financing Ordinance, Chapter 615 of the Hong Kong Code of Laws...

BlockchainUA 2019 in Kiev

The blocjchain 2019 in Kiyv The BlockchainUA team is proud to announce the sixth annual international conference, which will be held in Kiev, March 22, 2019 and will bring together the strongest blockchain community in Ukraine and Europe! The main mission of BlockchainUA is to increase awareness of blockchain and decentralized technologies, support the blockchain...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360