Eternity Law International — News — PSP license in Poland

PSP license in Poland

Published:
November 22, 2023

Entrepreneurs who intend to get a PSP-license in Poland need to prepare and correctly fill out all the required documents, open a bank account for the implementation of commercial goals, create a business-plan, select employees for the future firm and ensure that control mechanisms are maintained and ensure future activities. The professional lawyers of our team help you deal with all the nuances quickly and profitably.

If you want to get a permit to provide payment services in Poland, then our firm will guide you through the entire licensing process, prepare the necessary documents and assist you in communicating with the regulator. We are also ready to offer you an extensive list of ready-made licenses for sale, in particular, PSP in Egypt, crypto-licenses in Estonia, Forex-license in France and much more.

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Regulator and legislative framework

Payment companies operating in Poland can conduct business-activities only with a permit issued by the regulator – the Polish Commission for Financial Supervision (KNF).

Benefits for PSP in Poland

Regulators conduct thorough and rigorous reviews of newly-registered businesses. In the future, the Commission in every possible way helps firms that demonstrate reliability, honesty, a desire to develop the general financial sector of the jurisdiction and comply with the requirement range of the law.

In this jurisdiction, Fintech companies can easily find qualified personnel, and the cost of labor, even taking into account the long stay in this industry, is quite low here.

The constant need of migrants and local residents for currency exchange makes Poland a very favorable market for B2B and B2C services. Even well-known financial organizations open their offices and branches in this jurisdiction.

Doing business-activities in Poland

Poland offers many opportunities for registered entrepreneurs, including:

  • openness to service range that are aimed at Eastern European clients;
  • cheap but good quality professional human resource;
  • ease of opening a corporate account in local banking institutions;
  • simple process of obtaining a residence permit for company owners and employees;
  • access to local currency, which creates a large foreign exchange market;
  • a lot of opportunities for business-projects related to the transfer of funds, thanks to the large flow of migrants.

Primary requirement list

  1. The presence of local employees in the firm isn’t necessary, however, the implementation of this factor is encouraged. It’s recommended to have at least two resident directors and 4 employees with Polish citizenship.
  2. Enterprise management should cover AML control, compliance, risk management, accounting and finance, marketing, business-strategies for overall development and sales.
  3. The starting capital of a PSP-company that wants to license its business-project in Poland must be at least 125 thousand EUR.
  4. After the regulator issues a license, the organization must begin operating in no more than six months.

Documentation

To license the activities of a PSP-company in Poland intending to provide its services to this or that citizen, it is necessary to collect and submit the following package of documents to the regulatory authorities:

  • details of the company and Statute;
  • list of future services;
  • business-plan for at least 3 years (with marketing and operations);
  • confirmation of capital;
  • risk and safety measures;
  • company structure;
  • data of managers and everyone who has significant shares in the firm;
  • confirmation of the right to manage a payment organization;
  • auditor data;
  • insurance and bank guarantees;
  • confirmation of compliance with customer confidentiality and communications requirements;
  • a list of agents, if services will be provided through them;
  • receipt of payments of the authorization fee;
  • list of branches if services will be provided there.

What is included in our service list

Our specialists offer full support for your business-project when registering and licensing a firm in Poland or other jurisdictions.

  1. We work all over the world.
  2. We help you collect and fill out documents.
  3. We provide assistance in promptly getting a permit and additional permits.
  4. We open accounts in banks and payment systems.
  5. We advise on all issues.

By working with us, you will receive first-class service and high-quality results in a short time. We have many ready-made companies and licenses for sale, in particular, PSP in Argentina, Germany, Belgium, France and other jurisdictions.

How much does a PSP-license cost in Poland?

The full price of licensing and services of our team depends on many factors, therefore it is calculated individually for each client. The firm’s lawyers will calculate an exact estimated price immediately before the start of cooperation.

Our advantages

We’ve been working in the financial market for many years and have gained an excellent reputation.

  1. A large professional knowledge, which we constantly expand and update in accordance with the latest trends and changes in the legislative framework of jurisdictions.
  2. Coverage of many countries.
  3. Thousands of satisfied customers.
  4. Large list of additional corporate services.
  5. Full support at all stages of licensing.

We strive to keep up with technology and constantly improve our capabilities. We provide advice on any issue and take care of all the difficulties of registration so that your firm can get a permit and start operating as soon as possible.

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