Eternity Law International — News — SPI license in Czech Republic

SPI license in Czech Republic

Published:
August 10, 2022

Recently, the Czech Republic has become a significant European center for a variety of payment systems. It is approached by both new companies wishing to start a business in the field of providing payment services, as well as existing companies that previously made tactical mistakes by choosing offshore zones, the Baltics or Cyprus for their registration. This leads to acquiring banks and other payment systems refusing to cooperate with them. Licenses for payment systems and electronic money issued by the Czech National Bank (CNB) make it possible to operate throughout Europe and attract clients from different countries.

Our company is made up of highly qualified specialists who have extensive experience and professional knowledge in the field of establishing and licensing companies around the world. We are ready to help you in any aspect of obtaining an SPI license. Our company also has the option of SPI license in Czech Republic for sale.

Payment services in the Czech Republic

The services of a company with Czech Republic small payment institution license are as follows.

  1. Opening and servicing of electronic money/payment accounts for clients – both legal entities and individuals (including issuance of IBAN).
  2. Ensuring compliance with the regulatory framework for the single European payments market.
  3. Issuance of financial instruments, including prepaid and debit bank cards.
  4. Making money transfers without the need to open an account (remittance).
  5. Accepting payments for clients in various ways, including payments by bank cards, transfers and SWIFT payments.
  6. Providing Internet acquiring services.
  7. Currency exchange.
  8. Payment initiation services.

Licenses issued in the Czech Republic give their owners the opportunity to work in any European country and attract clients from around the world.

If you are going to launch your own payment system and work with electronic money, you should consider purchasing a ready-made SPI license in the Czech Republic. This is due not only to the reliability of this jurisdiction, which is important for banks when choosing partners, but also to the fact that offshore countries are not the best choice in this case.

We are ready to advise you on any issues related to this type of permit. In particular, our specialists will tell you about the TOP-5 jurisdictions for getting an SPI-license. We also have a favorable offer for the sale of small payment institution license in Czech Republic.

Advantages of an SPI-license in the Czech Republic

A ready-made Czech Republic SPI license company represents a company that is already on the market before the transaction. Its advantages in this jurisdiction include:

  • an active account in a Czech bank, ready for commercial use;
  • ready starting capital, which can be adjusted as needed by the new owner;
  • confirmed registration and registered with the VAT regulator;
  • a license issued directly from the regulator, which guarantees the reliability and integrity of operations.

Czech Republic SPI license company for sale is the optimal solution for those who do not want to waste time on administrative issues and paperwork. You receive a completely ready-to-use structure that will begin to generate profits from the first days of operation.

The possibility to get small payment institution license in Czech Republic provides the entrepreneur with a wide range of opportunities:

  • opening accounts for payments and electronic money circulation for clients; account management, including IBAN assignment;
  • issuance of financial instruments such as bank and debit cards;
  • making money transfers without the need to open an account;
  • accepting payments using various methods, including SWIFT;
  • acting as an acquirer;
  • currency exchange and payment initiation;
  • Maintaining regulatory compliance in an established payments market.

Having received a ready-made company, an entrepreneur can immediately begin working and promoting his services. We will help you bring your business into compliance with requirements and regulatory parameters. Our company is ready to offer you a fully designed version of a ready-made SPI license in the Czech Republic for sale.

An SPI licensed company with PCI DSS certification is also available. In addition, an additional purchase of existing software and a personal account for managing the payment system is offered.

The cost of different options will depend on the volume of operations, budget and individual preferences. If you are interested in purchasing a ready-made SPI in the Czech Republic, contact our specialists – we will help you choose the most suitable option, taking into account reliability, potential profitability and speedy entry to the market.

Norms and rules for applicants wishing to obtain small payment institution license in Czech Republic

Rules and requirements may vary from country to country, but the introduction of the pan-European Payment Services Directive has led to the establishment of common standards and requirements for market participants.

  1. Limiting the average monthly amount of payment transactions. Exceeding this threshold makes the company unable to be qualified as an SPI and requires a transition to API status with a corresponding change in capital requirements.
  2. Small PI must not provide payment initiation or account information services.
  3. The directors or managers of the company must have an impeccable reputation and no convictions for money laundering, terrorist financing or other financial crimes.
  4. Compliance with Anti-Money Laundering, Anti-Terrorist Financing and Transfer of Funds (AML Policy) provisions is mandatory.
  5. The company’s office must be registered in the country that issued the license.
  6. The need to demonstrate qualified skills and knowledge to effectively manage the business, as well as the integrity of each director, who must have an economic or financial background or experience in a related field.
  7. Top management must consist of both foreign citizens and residents of the country that issued the license.
  8. A candidate’s participation in political activities should not interfere with regular monitoring of the company’s activities by the regulator.

It is also necessary to seriously prepare all the necessary documents to get SPI license in Czech Republic. This includes extracts from the company register and documents describing the organizational structure, including information about:

  • bank accounts;
  • processing centers;
  • settlement banks, etc.
  • In addition, the applicant must indicate which payment instruments he intends to use for money transfers.

The process to obtain SPI license in Czech Republic can be a lengthy and complex process. Interested entrepreneurs can also turn to this option as a ready-made company with an SPI license in the Czech Republic for sale.

Wide possibilities for providing services for company with SPI license for sale in Czech Republic

  1. Placing cash in a payment account and performing related transactions.
  2. Withdrawing cash from a payment account and carrying out other operations related to it.
  3. Carrying out various transactions, including transfers of funds to the user’s payment account or other payment systems.
  4. Perform transactions using payment cards or similar devices.
  5. Making payments using a credit line for users of payment services.
  6. Carrying out credit transfers, including regular orders.
  7. Issuing payment instruments or conducting payment transactions through acquiring.

In addition, a company with an SPI license can service e-wallets and conduct mobile payments. However, it is worth remembering some restrictions for companies operating under an SPI license. The main one is regionality, that is, the company must be registered in the territory of the country that issued the license.

Our company is ready to offer you comprehensive assistance in implementing your commercial plans. We have many ready-made SPI licenses in Poland, Germany, Portugal and other countries. Our experts will also provide you with comprehensive assistance in obtaining an SPI license for sale in the Czech Republic.

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