Eternity Law International News SEMI license in UK

SEMI license in UK

February 9, 2023

If you are interested in acquiring a SEMI license in the UK, we will guide you across the entire procedure and provide you with step-by-step support.

A SEMI permission allows a financial establishment to supply authorized service exclusively in the United Kingdom. In this case, the statutory fund is not provided.

Overview of the UK fintech market

The Financial Technology (FinTech) sector is revolutionizing the financial services industry by simplifying transactions, lowering costs, creating opportunities for innovation, empowering customers, and improving security. The UK is the second largest fintech investment destination after the US. The United Kingdom continues to be the top destination for fintech in Europe, with investment in the sector growing by $9.1 billion in the first half of this year, up 24 percent from the same period in 2021. of more than 1,600 firms and is projected to double by 2030. The sector contributes around US$13.4bn (£11bn) to the UK economy and creates over 76,000 jobs.

Businesses for sale in UK

Company in UK with bank and crypto accounts for sale

Europe, UK
Below you can see the basic information regarding the company in UK with bank and crypto accounts for sale Company in UK with bank and crypto accounts – whats included: Company in London for sale, UK; 2022 year of registration, clean company, no debts; Opened accounts by Payoneer in: — Barclays Bank UK GPB (BACS, Faster…

Bank in the United Kingdom for sale

Europe, UK Banks for sale
This is a bank in the United Kingdom for sale offering a variety of secured funding facilities for individuals and entities and deposit accounts for individuals, entities and charities. Bank in the United Kingdom for sale: overview The portfolio of services includes the provision of asset financing, professional loans, bridging loans, development financing, specialized mortgages,…

Benefits of achieving a SEMI license in the UK

SEMI license has the following benefits:

  • Inexpensive service and no account opening fees;
  • There is no minimum account balance;
  • Remote identification of the client, the possibility of opening an account for the company without a client’s visit;
  • Remote account management;
  • Account opening is feasible in a short period of time (up to 7 days);
  • Unique IBAN;
  • High degree of security.

UK SEMI restrictions

To carry out business as a SEMI, the company must be enrolled with the FCA. Only a legal entity can be registered as a SEMI.

However, there are certain restrictions associated with operating a company with a SEMI license:

  • SEMI in UK license for sale general business activity in the UK for sale submitted immediately prior to the time of registration must not generate an average amount of e-money in excess of €5,000,000, and
  • For a small e-money license in the UK average restrictions for month on the issuance of e-money in the total of 5 million euros and payment favors – the number of transfer activities should not overrun 3 million euros.
  • The small PI license has the same limits for the monthly number of transfers for payment services – € 3 million.

Initial Capital Requirements

The start-up fund demands of a business-company with a Small Electronic Money Institution license in the UK depend on the average amount of owing e-money that the company generates or plans to issue. If the average amount of e-money in circulation is equal to or greater than 500,000 euros, then there is an obligation to support the initial capital at a level of at least 2% of the average quantity of money in circulation. Where an request applying for a small e-money license in the UK does not have sufficient business history, projections in the business plan may be used to determine initial demand for funds, after any adjustments the FCA may require during the registration process.

General requirements SEMI license in UK

The demand is to protect client funds either with a separate client bank account or with an insurance policy.

  • The SEMI license management authority must be in good standing and have the appropriate qualifications and experience to carry out its duties.
  • Current capital requirements for an SEMI is calculated as 2% of the firm’s issued e-money in circulation.

Other conditions must be met, as set by the FCA:

  • You need to be a legal entity.
  • Payment favors will be carried out.
  • You have reliable control mechanisms.
  • You have a business plan.
  • You have taken adequate steps to protect user funds (our banking partners can help you open a Security Account to meet this demand).
  • You have adequate damages coverage.
  • Directors must be in good standing and possess the necessary relevant skills.
  • No manager should be guilted of money laundering.
  • The head office must be in the UK.
  • You must comply with money laundering laws.
  • Anyone with 10% or more shares must be in accordance with law.
  • If a request is closely related to another person, such ties must not interfere with the FCA’s effective oversight of the business.

You could be interested

Company registration in Albania

Registration of a company under the jurisdiction of Albania and opening an account in one of the Albanian banking institutions is an excellent opportunity to implement large business projects and bring them to the European market. For entrepreneurs, Albania is beneficial for the following reasons: stable economic and political situation; advantageous geographic location; the banking...

Ready-made company in USA

Starting a business in the United States is a dream for many aspiring foreign entrepreneurs worldwide. The USA offers a thriving market, a stable economy, and a plethora of opportunities. However, setting up a new company from scratch can be a daunting task. This is where the concept of buying a ready-made company comes into...

DIN EN 15224 Points

Quality importance in health care is often understood when people are frustrated by its absence, or when they suffer from unnecessary waste of time, or when they are threatened with unnecessary spending. Today, it is first item on health care institutions agenda. Because people expect medical services from better services. For all healthcare establishments, improving...

Tax planning

The end to offshore companies. Tax planning In many states, because of the global crisis, it was decided to find additional resources in order to replenish the budget. For this reason, tax planning has become quite relevant and necessary for many companies. To this end, they are actively trying to tightly control the capital of...

Gaming license in Comoros 2023

In recent years, the global gambling industry has witnessed unprecedented growth, with advancements in technology and increased accessibility fueling its expansion. Comoros, a small archipelago nation nestled in the Indian Ocean, has also recognized the potential of the gaming sector to drive economic development and tourism. As of 2023, Comoros has taken significant steps to...

EMI schemes after Brexit

According to the statement of HMRC, EMI schemes will remain to be effective after Brexit transitional period. These schemes allow some businesses to provide workers nontaxable share options worth up to £250,000; they do not expire and will be applicable in the post-Brexit period. What can companies hope for? As of now, there are multiple...
Fill the blank:


Dreikonigstrasse, 31A, Stockerhof


Baseina street, 7


Grosvenor Gardens, 52

New York

1178 Broadway, 3rd Floor #3353 New York, NY 10001


Gediminas Avenue, 44A


Kesklinna linnaosa, Tuukri 19


Lochrin Square, 1


Jacovides Tower, 5 floor


Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai


Level 42, Suntec Tower Three, 8 Temasek Boulevard


20 Martin Place


2609 Avenida da Boavista


Revaz Tabukashvili Str., N 45, area N 7