An Electronic money institution (EMI) license in Ireland serves as a formal instrument that enables a legal entity to function as an issuer of e-money and related services across the European territory. This form of permit has become sought after by operators engaged in innovative payment models and new forms of settlement technology. The local regulator maintains a consistent approach: clarity, transparency, and adherence to European standards. Regulations for EMI license in Ireland make the state one of the most appealing locations for setting up this type of activity.
Ireland EMI license requirements
The crucial criteria for obtaining an EMI license in Ireland are normally as follows:
- Minimum starting capital €350,000 for authorised EMIs (EMD2); higher own-funds ratios apply based on activity/volume.
- Comprehensive description of ownership layers and internal hierarchy.
- Functioning office within the territory.
- Verified sources of funding.
- Detailed forecast for three years, including expected revenues and expenses.
- Internal control framework (risk, compliance/AML, safeguarding, reporting).
The CBI expects firms to demonstrate meaningful local substance and a clear allocation of PCF roles under the Fitness and Probity Regime. Senior management must maintain a substantive presence and be available in the state in question to fulfill their responsibilities efficiently.
Advantages of EMI license in Ireland
Ireland EMI License gains entry into the joint European structure by means of the passporting mechanism, which allows services to be delivered to the areas of the single market. Categorically, this saves a lot of time and resources when compared to applying separately for countries in the group. Another strength is the legal and political steadiness that gives the predictability and continuity needed. Over and above that, business conditions are among the most favorable for business in Europe in terms of taxation. The basic corporate tax rate is 12.5%. With a wide network of double-tax treaties, it reduces financial pressure and simplifies cross-border planning.
Skilled professionals further secure the country’s location base for fintech-related activity and entities willing to act compliantly as an online bank within the boundaries of the EU.
Procedure for obtaining EMI license in Ireland
The CBI first acknowledges receipt and checks completeness, then conducts a substantive assessment. The review typically involves clarifications and stop-the-clock periods. Well-prepared files often progress within several months from a completeness confirmation to authorisation.
After successful review, the Electronic Money Institution license in Ireland is granted and published in the official register. From that point, the entity can provide services in accordance with granted powers.
It is significant to note that there are two types of EMI licensing in Ireland. The first is the SEMI authorisation and the second is the full authorization. These differ significantly in terms of notification scope, capital demands, and operational flexibility.
The regime for small organizations provides a simplified authorizing framework but comes with strict volume and issuance limits and does not permit passporting across the EU. Consequently, it is generally unsuitable for firms seeking to scale operations or offer services on an EU-wide basis.
What is included in our services
Eternity Law International provides full-cycle support for clients seeking to obtain an EMI (Electronic Money Institution) license in Ireland . The service covers all stages — from the first formal meeting to the ultimate approval and ongoing maintenance. The scope typically includes:
- Drafting of internal documentation, policies, and plans.
- Legal review for cooperation with auditors and service providers.
- Support in opening and organizing an office within the territory.
- Structuring and incorporation procedures.
- Assistance in establishing banking relations and cooperation with card systems.
- Representation during communication with the authority.
After approval, clients may also delegate accounting, notifying, and periodic communication with the regulator to the firm’s experts. All transaction monitoring and notifying systems are developed in accordance with EU supervisory expectations.
Taxation of EMI in Ireland
Profit is taxed at 12.5%, which is substantially lower than in most continental states. Dividends distributed abroad can often benefit from relief under double-taxation agreements.
Reporting is standardized and must be submitted annually. Each Irish Electronic Money Institution (EMI) must maintain proper account records and present audited statements. In addition to fiscal supervision, Electronic Money Institutions (EMI) in Ireland are stick to control by the national bank to ensure adherence to transparency and sound governance principles.
VAT applies to goods and certain services, while many finance-related operations are exempt. Accurate classification of activities is essential to avoid disputes with tax authorities. SEPA and SWIFT monetary systems are fully supported, ensuring efficient cross-border transfers.
How much does EMI license in Ireland cost?
Total price depends on the complexity of the ownership chain, volume of documentation, and chosen service model. Official fees themselves are relatively small, yet the main part of expenditure falls on legal and administrative preparation, drafting of internal rules, and staffing the local office.
Typical end-to-end timeline is ~6–9+ months from a complete file, subject to CBI queries and stop-the-clock pauses. Total costs may range between €100,000 and €250,000, depending on the scale and number of professionals involved.
Our advantages
Eternity Law International combines practical experience with deep understanding of European licensing procedures. Our experts handle projects of various scales — from structural setup to post-approval support. The cooperation with auditors, legal advisors, and banking partners across multiple markets is maintained.
Key strengths include:
- Proven experience with similar projects in the EU.
- Detailed knowledge of administrative and procedural nuances.
- Transparent communication with clients at every stage.
- Clear timelines and predictable cost structure.
By entrusting the process to professionals, clients gain efficiency and assurance that every step is performed in accordance with local and European standards.
Conclusion
The state offers a balanced combination of legal predictability, moderate taxation, and access to the entire European area. Getting Ireland EMI License here may seem complex, but the advantages clearly outweigh procedural effort. Once approval is granted, the entity acquires both reputation and flexibility to expand across Europe under a unified framework.
Professional assistance plays a crucial role in this process. It minimizes delays, avoids procedural errors, and helps maintain ongoing adherence after approval. For Electronic Money Institutions in Ireland planning long-term activity in the European market, establishing operations under local supervision remains a logical and strategically sound decision.
You are able to not only buy EMI license in Ireland, but take a look at official authorisations in other nations. For instance, a crypto permit in Dubai DMCC or authorization in the Czech Republic for sale.
FAQ
Why is an EMI license required in Ireland?
Authorisation for EMI in Ireland is necessary for those intending to handle stored value and related settlement functions under lawful supervision. It grants recognition within the European framework and allows expansion across member states through the passporting system.
If a company already holds an EMI license in another country, do they need to go through the full process in Ireland?
Every application is reviewed by local authorities most independently. The granting of a passport from one base to other European areas like from a London office to a Frankfurt one in a secondment situation should be assessed by the supervisory body in the state to ensure conformity with its own standards and procedures.
Who needs an EMI license in Ireland?
This form of authorization is typically needed by operators creating tools for online wallets, card issuance, payment platforms, and similar activities. It is also relevant for providers managing stored balances or conducting remittance-like functions. Essentially, anyone seeking to issue or circulate non-cash value within the continent under official supervision must hold such approval.
Can non-EU companies apply for an EMI license in Ireland?
Yes, but they must create a legal presence within the state and appoint responsible persons locally. The authority requires that core control and oversight functions be based within its territory. This condition guarantees that supervision remains effective and transparent.
How much does it cost to apply for an EMI license in Ireland?
It depends on the complexity of ownership, the number of papers, and scale of planned activities. Official charges are moderate. Principal costs mainly lie in the preparation, advisory support, and establishing a local office. Usually, a full project budget varies from approximately €100,000 – €250,000.
How long does the EMI license application process typically take in Ireland?
The timeline usually ranges between 4 and 6 months. It depends on how quickly the applicant provides data and responds to regulator inquiries. Incomplete papers or unclear ownership details can extend the review period. With well-prepared materials and professional oversight, e-money license in Ireland is often achieved within the standard timeframe.