Eternity Law International News EMI license in Poland

EMI license in Poland

Published:
November 2, 2022

Poland is a state with great prospects for enterprises from Fin-sector. This state offers Fin enterprises a huge number of experts who know their field. Local market offers favorable conditions for starting a business connected with fiscal field. That’s why obtaining an EMI license in Poland is opportunity to be part of a thriving technology and financial community.

Stability and continuous development of the local environment, the active promotion and modernization of various financial services, expansion of currency exchange market – thanks to many moments, this country has become an excellent ground for the establishment of EMI. The regulatory body of the jurisdiction acts quite prudently – it clearly evaluates new enterprises, without giving companies that meet all points extra hassle associated with licensing.

Poland EMI license: regulatory body and legislative framework

Firms offering payment services in this country are allowed to operate only after going through the licensing process. The corresponding permissions are provided by regulative body – National Financial Supervision Commission.

Getting electronic money institution (EMI) license in Poland

  1. Ability to provide services to users living in the eastern part of the EU.
  2. Wide labor market.
  3. Simple bank account creation.
  4. Easy obtaining of residency for directors and workers of the enterprise.
  5. Open access to local currency; it contributes to the creation of a large-scale currency market.
  6. Support for e-payment industry by local investors and the governmental apparatus.

E-money and Payment Institution license in Poland: requirements

  1. There’re no strict rules regarding workers and directors, basic thing is there should be enough professionals for expedient quality of all services and implementation of company’s commercial plans. Regulator recommends having at least 4 local employees and 2 resident directors.
  2. Persons who manage firm needs perform functions of AML, monitor finance and accounting, manage risks, provide security and promote business development.
  3. The starting capital for EMI in Poland must be at least 125 thousand euros, while it is important to prove solvency through appropriate documentary evidence.

After the company is licensed, it is given six months to launch the infrastructure commercial processes and start doing activities.

Documents needed to license Electronic Money Institutions in Poland

  1. Statute.
  2. Services list to be offered.
  3. Financial reports.
  4. A plan for at least 3 years, along with marketing, financial and operational plans.
  5. Solvency confirmation.
  6. Company risks management and supervision plan.
  7. Company internal structure.
  8. Personal data of directors, shareholders and other people who have a strong influence on the operation of enterprise.
  9. Confirmation of compliance of applicant and directors with norms for high-quality and accurate management of a fin-company.
  10. Personal data of auditors and audit organizations.
  11. Confirmation of correspondence with technical security and privacy standards.
  12. Payment of registration fees.
  13. List of agents, if their participation in the business is planned.
  14. List of branches of organization, if operations from several branches are planned.

In order to ensure a fast and cost-effective acquisition of Poland E-Money Institution License, our specialists are glad to guide you during whole process. We are ready to take over the entire registration and legalization processes and guarantee the efficiency of the process and support at all stages of opening a company. You may also consider ready-made companies for sale we have prepared for you.

Please contact us to get more information.

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”.

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