Eternity Law International — News — SEMI license in Ireland

SEMI license in Ireland

Published:
April 7, 2023

There’re now 430 financial-firms functioning in Ireland, incl. 20 of 25 largest international organizations. Fin-sector in Ireland is constantly evolving and is a great place for researches, innovative developments and technical progress. This jurisdiction has many tax-incentives and good financial flows from the state apparatus. The SEMI license in Ireland allows you to create a small e-money establishment in jurisdiction and offer services, having an officially confirmed status by regulative body. Entrepreneurs also may turn to such options as SEMI in Ireland for sale – completely ready-for-use structure.

Requirements for SEMI license in Ireland

Small payment institution license in Ireland requires merchants to meet certain normative points.

  1. To conduct business in this jurisdiction, it is necessary to have local employees who will work full time.
  2. There should also be 2 executive directors who are also based in Ireland and are responsible for important issues – compliance-mechanisms, risks supervision and financial control.
  3. Start-up capital depends on the type of services company offers. It starts from 25 thousand euros.
  4. Authorization of the enterprise is free of charge.

Entrepreneurs are also given the opportunity to buy a company with a SEMI license in Ireland as a completely turnkey option that has everything you need for a speedy commissioning.

To get SEMI license in Ireland: stages

To obtain a SEMI license in Ireland, entrepreneurs need to go through a procedure consisting of the following steps.

  1. The first step is to file applications with regulatory body. 
  2. Regulator approves application receipt in a maximum of 3-days-period.
  3. Next comes verification of data and availability of attached papers.
  4. In 10 days, regulative body either confirms application or rejects it, indicating which documentation is missing. Then you’ll need to apply again, adding all the papers that were not there.
  5. This is followed by applications evaluation period, which takes up to 3 months. If applicants do not respond to a claim to add some data within a period of 2 months, applications are rejected.
  6. After a successful consideration, applicants will be notified of the regulator’s decision.

An option like SEMI license in Ireland for sale greatly speeds up and simplifies the process of integrating into the business environment, which helps entrepreneurs start making profits from their business as soon as possible.

Documents for applications

Small e-money license in Ireland requires next-mentioned.

  1. A completed form with the personal data of applicants.
  2. Statute or other supplementary documentation, and a certificate of business registration.
  3. List of planned services.
  4. Business-plan with marketing solutions for at least 3-years-period.
  5. Firm organization structure.
  6. Start-up capital.
  7. Measures to protect and store client money.
  8. Description of the management organization and internal supervision schemes, as well as controlling of security and complaints.
  9. How accounting-procedures, auditing, statistics are conducted.
  10. Mechanisms to monitor fraud-operations and protect against money laundering.
  11. Company security-policy, which has a clear evaluation of all risks, IT systems, authorizations, etc.
  12. Data of shareholders and directors.
  13. Details of the auditor or firm that will perform the audit.
  14. Insurance.

Our team of experienced experts have been in the licensing industry for years and know how to properly fill out applications, collect documents and get confirmation from regulatory bodies. Therefore, we suggest trusting professionals and not delaying obtaining a SEMI-license in Ireland for your business-activities. We help at every stage of the transaction to get at our disposal a ready-made SEMI-license in Ireland for sale, and we may provide additional services:

  • formation of a business-plan;
  • opening accounts for customer funds;
  • recruitment;
  • audit and financial-services;
  • creation of technical documentation.

Contact us right now. We also have an extensive range of shelf-companies and licenses for sale in other countries and spheres of business-activity.

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