Portugal is a very developed European country. Here are excellent conditions for companies that work with finance. The jurisdiction is fully integrated with global markets, which is also a big advantage.
Our company is a team of professional specialists in the field of establishing and licensing business-projects. We operate all over the world and already maintain active cooperation with hundreds of satisfied customers. We are also ready to offer interested investors a variety of ready-made companies and licenses for sale, particularly, a PSP-license in Mauritius, Belgium, Poland and other countries.
Regulation of PSPs in Portugal
The financial industry in this jurisdiction includes:
- banking establishments;
- credit and mortgage lending firms;
- securities brokers and consultants;
- insurance organizations;
- payment firms and e-money;
- crowdfunding platforms.
Portuguese regulation of the Fintech-sector is very dependent on the legal qualifications of the company and the list of services provided to this or that citizen. The main categories of such enterprises are now firms providing payment services and issuers of electronic money.
Advantages of Portugal for registered PSPs
Stability of the social and political environment.
- Tax benefits.
- The economic sphere is developed at a high level.
- Fast, convenient and understandable registration of business-structures.
- No double taxes by agreement with several EU countries.
- Security for investors.
- Encouragement of business-activities by the government apparatus.
- Quite low operating costs.
- No corruption.
- The opportunity to consolidate and expand your business-activities in the European and global market spaces.
Getting a PSP-license in Portugal
The PSEMLF imposes registration and licensing requirement list for financial and e-money firms, and PSPs, all of which are overseen by BP. To obtain the appropriate license, you must collect and submit the following documents for consideration:
- business-plan;
- description of the company structure and beneficiaries;
- personal data of every director and manager;
- model and procedures for management and internal compliance.
The amount of authorized capital depends on many factors and is calculated individually.
It is important to understand that fintech licensees in a given jurisdiction must also comply with all advertising and marketing regulations and requirement lists. The PSEMLF provides for a variety of products and service ranges that can be offered exclusively by payment firms or electronic money issuers.
- PSP is a firm helping sellers accept payments using bank cards and transfers. Often, the firm provides customers with a merchant account and a gateway that allows them to accept these funds.
- PI is a separate type of PSP. The work of such firms is now regulated under PSD2. Under this law, these organizations have the right to carry out transactions, issue or purchase payment instruments, transfer funds, provide loans and provide additional services that are related to their main work.
- E-money issuers are persons who can issue electronic money under the law implementing Title II of Directive 2009/110/EC(EMD2).
In addition to their service list, PSPs and EMIs have the right to issue e-money. Firms that issue e-money can offer payment services.
Licensing process
To get a PSP-license in this jurisdiction, you must collect all the required documents, write an application, and submit it to the regulatory authorities. It is imperative to provide a very detailed business-plan, including the following points:
- data about the future work of the firm, and how these activities will be carried out;
- available resources that the firm will use;
- the target audience;
- what records the organization will keep;
- measures to protect client assets;
- way to attract clients;
- decision makers;
- method of risk management;
- commission amounts;
- measures to combat illegal circulation of funds.
A permit for a PSP-company in Portugal gives you the opportunity to work in one of the fastest growing and most promising EU-countries. By complying with all the normative points that regulatory authorities set for such companies, you can undergo passport certification and additionally work in other countries.
Contact our experts for a consultation and receive detailed information about the regulation of financial companies in Portugal and other countries. We will tell you everything about White Label PSP, the crypto and Forex industry, the features of gambling licensing and much more. We offer full legal support at all stages of opening and licensing your business-project in any jurisdiction.
What is included in our services
We offer full support for entrepreneurs who intend to register and license their business project in Portugal and other jurisdictions.
- Creation and establishment of companies in any jurisdiction around the world.
- Collection of the necessary package of documents.
- Assistance in obtaining licenses and additional permits.
- Interaction with regulatory authorities.
- Opening bank accounts and accounts in payment systems.
- Consultations and an extensive range of corporate services.
- Ready-made enterprises and licenses for sale.
We guarantee the high quality of our work and effective results in the shortest possible time.
How much does a PSP-license cost in Portugal?
The cost of obtaining such a license is calculated individually for each company. The price calculation takes into account many factors: the type of organization, the planned turnover of funds and much more. Our lawyers will calculate the exact amount and provide information regarding the potential price for each client separately.
Our advantages
We have been working in this field for many years and have hundreds of satisfied clients. Our lawyers are experienced experts with a huge amount of professional knowledge.
- Many years of expertise.
- Interaction with hundreds of jurisdictions around the world.
- Many satisfied clients.
- Extensive list of additional services.
- The desire to keep up with modern technological and software solutions.
- Consultations and professional support at every stage of cooperation.
We will help you go through the entire stage of establishing and licensing a company, taking on the most difficult aspects.