Eternity Law International — News — SPI license in Poland

SPI license in Poland

Published:
September 1, 2022

SPIs are structural financial establishments acting in payment services niche. This’s a somewhat limited firm in terms of powers and rights, with less capital and less normative points for it compared with a fully officially-licensed permission. Small payment institution in Poland are a fairly promising and common sphere of ​​commercial activity at the moment. Next, we will consider profitness of such a variant as Poland SPI license company for sale, the main points as for structure, organizational components and capabilities of these companies.

Polish payment services

Companies of this type are entered in register of service providers and issuers of e-money, and may fully act in this field with exception of initiating transactions and providing admission to accounts data. Such business-activities may be run through affiliates or agents. The types of business-activities in which firms with a Poland small payment institution license may be involved can be summarized as follows.

  1. Replenishment of user accounts through other systems, including the use of all necessary tools for managing such accounts.
  2. Withdrawal of funds from accounts, including the use of all necessary tools for managing such accounts.
  3. Conducting transactions between client accounts, including outsourcing transactions to third-party mechanisms.
  4. Debits of means from accounts.
  5. Operations using cards and other technical means
  6. Operations covered by cash when using credit-line.
  7. Monetary assets transfers.

For firms intending to get small payment institution license in Poland, there’re certain restrictions distinguishing them from ordinary companies. In particular, these restrictions are established and put forward in relation to passporting. This means that companies can only be active in the country in which the permit is granted. Additionally, payments’ volume is limited – in total transactions shouldn’t be more than 3 million EUR monthly. Thus, ready-made Poland SPI license company might be lucrative and efficient option for quick and deeply business-start.

What is required to obtain SPI license in Poland?

There are no strict regulations and standards regarding personnel and management for firms intending to obtain small payment institution license in Poland. However, it’s still better to hire a team consisting of 2 local directors and 4 workers who also possess residency.

  1. The management of the firm should include representatives who cover next-mentioned: responsible for development and implementation of AML-policies, compliance, preparation and monitoring of financial reporting and accounting, responsible for the technical aspect, in particular cybersecurity, and being in charge of commercial part, in particular, marketing and business-structure progressing.
  2. Firm must provide documentary evidence that its initial capital is at least €125,000.
  3. After the company receives official permission to operate, it has six months to launch the infrastructure and start work.

Interested capital-holders may also turn to company with SPI license for sale in Poland as quick and efficient business-option.

The required documentation package should include next-mentioned:

  • details and articles of association of company;
  • services’ list provided;
  • reports on financial operations;
  • business-plan for at least three years; it should also contain marketing and operational plans;
  • documentary evidence of appropriate funds;
  • a detailed description of the system designed and implemented to carry out appropriate risk-management and internal controlling of activities;
  • personal data of heads and dignitaries;
  • confirmation the applicant has professional background and expertise in this field;
  • data of external independent auditors;
  • confirmation of payment of the commission for the establishment of the company;
  • a list of available branches or agents, depending where applicants intend to open a firm.

If you select the option of sale of small payment institution license in Poland, you might not worry about documentation preparation.

To get SPI license in Poland: strengths and advantages of payment institution in Poland

  1. Country promises quite attractive conditions and sufficient privileges for commercial niche in general and for SPIs in particular. Of these strengths and privileges, some of next-mentioned may be highlighted.
  2. Availability of commercial services and general market, which are focused on clients from Eastern Europe.
  3. Inexpensive, but at the same time high-quality, resources. The jurisdiction has a wide market of professional forces with vast experience in this field.
  4. Simplicity and clarity of the procedure for business-accounts opening in local banking institutions.
  5. Easy and fairly loyal procedure of getting residence permission for workers and executives.
  6. Great domestic exchange market-space supported by stability of local currency.
  7. Broad and ever-increasing opportunities for firms to transfer funds, which is conditioned and guaranteed by a large number of emigrants.

Our company is ready to offer you comprehensive professional assistance in establishing and licensing a SPI in Poland, as well as in other jurisdictions. We cooperate with clients all over the world. We also have such a variant as SPI license in Poland for sale and an extensive list of shelf companies for sale in many commercial areas. Contact us right now.

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