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+1 (888) 647 05 40If 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.
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.
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…
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…
SEMI license has the following benefits:
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:
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.
The demand is to protect client funds either with a separate client bank account or with an insurance policy.
Other conditions must be met, as set by the FCA:
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