Eternity Law International — News — SPI license in Estonia

SPI license in Estonia

Published:
March 12, 2024

The process of obtaining a license for commercial enterprises is a complex system of organizational and legal mechanisms. Successful completion of this process requires a full understanding of all formalities and requirements, as well as awareness of the application of the rules in practice in a particular country. There are a number of licenses for payment companies in Estonia that regulate different types of activities, including payment transactions.

Small companies seeking to operate a payment system in a given jurisdiction must obtain an SPI license, without which it is impossible to process, store and transmit payment data. Our company offers qualified assistance in preparing and submitting an application for a Small PI license in Estonia. Our specialists have extensive experience in this field and are ready to help you obtain a license quickly and smoothly. If you have questions or are not sure about the choice of country to register your small payment organization, our experts will tell you about the TOP-5 jurisdictions for getting SPI-license, provide you with detailed advice and help you decide on next steps. We also have such an advantageous option as SPI license in Estonia for sale.

Obtain SPI license in Estonia: features of this permit

This type of business permit is issued to small financial enterprises that offer a certain set of payment-related services, without necessarily being fully registered as a payment firm. Compared to fully authorized firms (APIs), SPIs can offer their clients a smaller range and volume of financial services. For example, for small payment institutions, the average monthly transaction amount should not exceed 3 million euros. Due to the fact that the list of operations that can offer SPI is quite small, the regulator imposes less stringent rules on such companies.

Even small financial companies like SPI must go through a registration process with local regulators. The list of requirements and limits on operations to obtain such a license differs in different countries. Unlike Authorized Payment Institutions, SPIs do not have the ability to offer payment transaction initiation and account information services.

The regulatory framework for controlling the work of such firms is often less stringent than for APIs due to their smaller scale and limited range of services. Despite this, small payment firms must still go through the registration process with their local regulator. Completing the licensing process ensures compliance with standards and requirements, maintaining the integrity and stability of the financial services sector.

It is important to consider that the list of requirements and limits for registration as a small payment company differs in each country. In Estonia, SPIs must show that the total of all payment transactions over a given period does not exceed a specified threshold, which is usually determined by the regulator. Additionally, SPIs must comply with compliance standards such as AML (Anti-Money Laundering) and CTF (Counter-Terrorism Financing) regulations to ensure secure transactions.

It is important to note that Estonia small payment institution license allows for easier entry into the market for smaller payment service providers. The requirements for applicants for an SPI license may vary from country to country, and applicants are required to satisfy various conditions according to jurisdiction.

Our specialists know everything about SPI-licenses. We are ready to offer you the option of Estonia SPI license company for sale and full support when concluding a transaction.

Get SPI license in Estonia: licensing normative parametres

With the introduction of the pan-European Payment Services Directive, uniform rules and requirements apply to market participants.

  1. If the average amount of transactions exceeds the established threshold, the firm cannot be classified as an SPI and must convert to API status, subject to other capital requirements.
  2. Such a company’s business must not include payment initiation or account information services.
  3. Managers must have an impeccable reputation and no convictions for financial crimes, including money laundering and terrorist financing.
  4. It is mandatory to comply with all anti-money laundering laws, anti-terrorist financing laws and AML policies.
  5. The office must be registered in Estonia.
  6. Evidence of qualified skills and knowledge to effectively conduct business, as well as the integrity of each director.
  7. Top management should include not only foreign citizens, but also residents of the jurisdiction where the license is issued.
  8. The applicant’s political activities must not interfere with the monitoring of the business by the regulator.

It is also important to have serious documentation to get small payment institution license in Estonia, including extracts from the company register, organizational structures and information about bank accounts, processing centers and settlement banks. The applicant must also indicate which payment instruments will be used to transfer funds. Interested entrepreneurs can also resort to an option such as ready-made Estonia SPI license company.

Privileges of getting SPI-license in Estonia

SPI permission in Estonia opens up the possibility of providing a variety of services. Let’s look at the main ones.

  • Cash management on payment accounts and all related operations.
  • Conducting transactions, including transfers of funds to user accounts or other payment systems.
  • Use of payment cards or similar devices to conduct transactions.
  • Ensuring payments using credit lines for payment service clients.
  • Carrying out credit transfers, including regular payments.
  • Issuing payment instruments or performing payment transactions.
  • Companies with SPI-license in Estonia can also service e-wallets and conduct mobile payments.

However, it is important to consider a number of restrictions for companies operating under SPI-license. For example, the company must be registered and conduct its business in the jurisdiction where the license was obtained. There is also a limit on average monthly turnover.

The option of company with SPI license for sale in Estonia is the optimal solution for entrepreneurs who want to start a business quickly and without unnecessary difficulties. This approach allows you to avoid difficulties with obtaining a license and start working almost immediately.

Our team

  1. Our team brings together the best experts in the field of fintech, banking, payment systems, e-commerce and regulatory compliance. We have in-depth knowledge and vast experience in these areas.
  2. Our firm provides a comprehensive solution for all stages of the SPI license process. We assist clients in collecting the necessary documentation, preparing applications and interacting with regulatory authorities.
  3. Our goal is your success. We not only help to obtain small payment institution license in Estonia, but also advise on all aspects of your business to ensure its effective functioning and growth.
  4. Cooperation with us ensures quick and efficient receipt of an SPI license. We optimize all processes and work to increase the likelihood of successful completion of the process.
  5. Ready-made SPI-licenses in UK for sale, in Germany, Portugal, Denmark and other countries.

Our services are aimed at maximizing customer satisfaction. We approach each situation flexibly, taking into account the individual requirements and characteristics of your business. We offer only lucrative and profitable proposal of sale of small payment institution license in Estonia. In addition, our company ensures the confidentiality and protection of customer data, guaranteeing them peace of mind and confidence in the security of information.

Businesses for sale

Polish ready-made SPI license for sale

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New investment opportunity – Polish SPI (in Polish Mała instytucja płatnicza) license for sale. Please check out the main details of this proposal below. Small payment institution (SPI) for sale in Poland: details of the transaction Year of registration: August 2023. SPI license scope: Depositing and withdrawing cash to/from the payment account; Executing a direct...

Ready-made SPI license in Czech Republic for sale

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This is a new investment opportunity – SPI license in Czech Republic for sale. Please check out the main details regarding this proposal below. SPI license in Czech Republic: key considerations Operational payment business with crypto authorization; Incorporated and licensed in 2015; Activities (money remittance, crypto exchange, custodial services); Several accounts in banks and payment...

SPI license in UK

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For those looking to take their business international, the UK represents a very attractive prospect. However, to operate in the financial sector in this jurisdiction, it is necessary to obtain a payment institution license, which can be a non-trivial task. Our company specializes in providing services for the establishment and licensing of commercial structures. We...

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