Until recently, any crypto-currencies were not listed on these islands, but in light of the rapid development of the crypto-industry around the world, now this jurisdiction has become one of the most promising and popular places for obtaining a crypto-license. Below we will look at the main aspects of crypto-regulation and the procedure for obtaining…
In the dynamic monetary field of Singapore, achieving an Electronic Money Institution (EMI) permission is a pivotal step for enterprises aiming to operate in the digital payments sector. This comprehensive article explores the intricacies of acquiring an EMI permission in Singapore, including the adjustment substructure, application process, operational conditions, and strategic considerations for accordance and…
Malaysia is one of the first countries to introduce cryptographic regulation policies. Under such policy, crypto-currencies are classified as securities, and according to Minister of Finance, the Malaysian governmental authorities believe that crypto-currencies and blockchain-technologies have tremendous potential to stimulate economic progress. It is believed that digital assets and their underlying blockchain technology can help…
The Dubai Worldwide Financial Centre (DIFC) is a pivotal hub for global finance in the Middle East, providing a sophisticated and business-friendly circumstances designed to facilitate growth and invention in the economic sector. As one of the world’s premier monetary free zones, DIFC supplies a unique adjustment and legal substructure, attracting a broad array of…
Overview An Australian Financial Services License (AFSL) licensed company for sale, established in 2004 and holding a credit license, is available for sale. This company is authorized to conduct comprehensive financial services and is perfectly suited for immediate operational commencement. Company Details Registration Year: 2004 Bank Account: Maintained with St. George Bank Support: Assistance with…
Overview This Securities Dealer licensed company for sale in Seychelles and registered in 2023, is currently available for sale. It operates under full compliance with local regulations, presenting a clean and streamlined opportunity for immediate operational takeover. Company Details Location: Seychelles Registration Year: 2023 License Type: Securities Dealer License Staffing and Infrastructure Staff Composition: The…
This is a new investment opportunity – AFSL license in Australia for sale. Please check out the main details regarding this proposal below. AFSL license in Australia for sale: key considerations Active company licensed by Australian Securities & Investments Commission (ASIC) in 2023; Allowed activities (financial product advice, deal in a financial product, custodial or…
Corporate Overview Establishment Year: 2018 Capital Structure: CHF 100,000 Licensing: Licensed as a Portfolio management company in Geneva for sale by FINMA in 2022; previously operated under SRO status. Business Operations of Portfolio management company in Switzerland for sale Core Activities: Specializes in providing financial advice and asset management services. Additional Capabilities: Authorized to establish…
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+1 (888) 647 05 40Electronic money is a fairly new method of payment, but now it is increasingly conquering the world.
The use of electronic currency was made possible thanks to the development and implementation of innovations in payment technology. More and more banks and organizations are switching to financial transactions through electronic money.
Companies have every right to accept and transfer virtual currency solely on the basis of special licenses.
Financial experts suggest that in the near future, electronic money will replace other forms and take a stable leading position. In support of this, there are a number of indicators:
But not all large companies and holding companies trust virtual currencies, as a prerequisite is the issuer’s license, which allows to prove its viability and security.
In order to obtain such a permit, strict compliance with the conditions and the mandatory passage of an audit are required in accordance with the legislation of the jurisdiction in which electronic money transactions will be conducted.
All electronic money has a direct impact on the financial turnover in countries. Every day the percentage of electronic payments and transfers is growing. That is why decisions were made to monitor and regulate the actions taken with virtual currency.
Legislative control helps to reduce the risk of laundering money obtained illegally, and create a safe system for the use of electronic funds.
In the countries of the European Union, work with electronic money is considered illegal without a license. Obtaining this permission proves full compliance with all necessary safety requirements.
Also, having a license allows you to carry out financial activities throughout the European Union.
To organize work on servicing the turnover of electronic money, the company must issue a permit.
Firms that open electronic wallets and issue credit cards (except banking institutions) are also subject to mandatory licensing.
To obtain this document, the company must comply with a number of requirements. There are also several types of licenses. All of them are intended for companies of various types and types of activities.
Upon receipt of a permit, the issuer pays a state fee, the amount of which varies, based on the legislation of the country and the type of company.
EU law governs the acquisition of an authorization document when all conditions are met. The company is obliged to strictly adhere to the current law adopted in the jurisdiction.
The bulk of the recipients are licensed in one of the countries of the European Union, as this makes it possible to offer their services throughout the EU after certification. And also such a license is a kind of sign of quality and reliability.
Some jurisdictions offer doing business on mutually beneficial terms. These include:
Thus, countries encourage companies to go through licensing with them.
If the organization fully complies with all the characteristics, it starts preparing a package of documents and transfers them to the regulatory state body of the country, where the application will be considered.
The duration of this operation can be from 1 to 12 months. The literacy of the submitted application and the volume of documents submitted are taken into account.
Companies that receive EMI approval, for the most part, have experience in this field and are fully compliant with all necessary standards. Such companies either expand their activities or undergo a reorganization procedure.
The most common problem for such firms are employees. It is very difficult to ensure the recruitment of qualified personnel, but this is a necessary condition.
The state body performing the audit will definitely pay attention to the company specialists. They check their level of knowledge and qualifications, as well as their experience in this field. The directors of the company are also undergoing a serious check.
If assistance is required in obtaining a license, you should contact qualified lawyers. Their experience and skills will help start-up companies go all the way with minimal time costs.
Eternity Law International specialists will be happy to рrovide you with assistance in choosing a country, fully carry out the process of collecting documents and submitting an application. We guarantee full support.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.