Eternity Law International — Forex brokers — EMI License in Australia

EMI License in Australia

Published:
February 13, 2017

Australia has emerged as a vibrant hub for financial innovation, and at the core of this transformation lies the Electronic Money Institution (EMI) license. EMI licenses in Australia empower businesses to offer electronic payment services and issue electronic money, underpinning a flourishing financial technology (FinTech) sector. In this article, we will demystify the essentials of EMI licenses in Australia, encompassing their prerequisites, advantages, application process, taxation, transactions,  bank accounts, sales, prices, and the support services that can simplify the journey.

Australia EMI License Requirements

Gaining an EMI license in Australia entails meeting specific criteria:

  • Legal Entity: Applicants must issue themselves as a recognized legal entity within the Australian law framework.
  • Capital Adequacy: Demonstrating sufficient capital reserves is imperative for financial stability.
  • Regulatory Compliance: Stringent anti-money laundering (AML) and know your customer (KYC) protocols must be in place to deter illicit financial activities.
  • Governance Structure: Adherence to rigorous governance and risk management practices ensures operational soundness.

Advantages of EMI Licenses in Australia

EMI licenses in Australia provide several advantages:

FinTech Innovation: EMI licenses in Australia foster an environment conducive to FinTech innovation, allowing companies to provide cutting-edge financial services.

Market Expansion: EMI license holders gain access to the Australian market, known for its robust financial ecosystem and significant growth potential.

Global Reach: Operating under an EMI license in Australia opens doors to international expansion, broadening the customer base.

Operational Control: EMI licenses empower companies with greater control over their financial operations, reducing reliance on third-party payment processors.

Procedure for Obtaining an EMI License in Australia

Acquiring an  e-money license in Australia involves several key stages:

Preparation: Ensure your registered company aligns with eligibility criteria and assembles necessary documentation.

Application Submission: Submit a comprehensive application to the Australian Prudential Regulation Authority (APRA), outlining your business plan, governance structure, and AML/KYC policies.

Review Process: APRA meticulously assesses your application to gauge your readiness to operate as a financial institution.

Approval: Upon successful review, you will receive your EMI license, granting permission to commence financial operations.

What is Included in Our Services

Navigating the path to securing an EMI license can be intricate. Professional services simplify the process by offering:

  • Guidance: Expert consultants provide step-by-step support throughout the application process, ensuring compliance with regulatory requirements.
  • Compliance Support: Professional services assist in establishing and maintaining robust AML/KYC procedures, guiding through evolving regulatory obligations.
  • Risk Management: These services help identify and mitigate potential risks in your business plan and operational model, ensuring a smooth and secure bank account   transactions and sale operations.

Taxation of EMI Companies in Australia

EMI companies in Australia are subject to corporate taxation, which includes a standard corporate income tax rate. This rate is set at 30%. It’s important to note that tax laws and rates may be subject to change, and it’s advisable to consult with tax experts or relevant authorities for the most up-to-date information.

However, the Australian government recognizes the importance of fostering innovation and financial technology within the country. To encourage growth in the FinTech sector, tax concessions and incentives may be available for qualifying EMI entities. These incentives could include reduced tax rates or deductions that effectively lower the tax burden on eligible companies.

How Much Does an EMI License in Australia Cost?

The price of obtaining an  e-money license in Australia can vary based on factors such as the complexity of your business model and the extent of professional assistance required. Expenses may include application fees, legal and consultancy fees, and ongoing compliance costs.

Our Advantages

Choosing the right partner for your EMI license application is crucial. Our services offer numerous advantages:

  • Expertise: Our team comprises experienced professionals well-versed in EMI licensing and regulatory compliance.
  • Efficiency: We streamline the application process, reducing potential delays and ensuring a smooth transition to EMI license status.

Ongoing Support: Beyond securing your license, our services provide continuous support to help you maintain compliance and adapt to evolving regulations, ensuring the long-term success of your registered company.

You could be interested

Licensed Forex Broker in Vanuatu for Sale

Licensed Forex Broker in Vanuatu for Sale. What is included: 1) The company was registered in 2016 2) License obtained in 2017 3) Account in the Lithuanian payment system 4) CRM system 5) Website 6) Accounts on social networks 7) MT5 platform Price on request – Licensed Forex Broker in Vanuatu for Sale For details:...

EMI license in the UK for sale

The company was founded in 2018. Two years working as a Small Electronic Money Institution. Authorized Electronic Money Institution license obtained in 2021. • 2 Bank accounts with UK Bank and Latvia (current and segregated). • Integration with Banking Circle. • Team: 8 people, including our own R&D department with an experienced IT team. •...

Category 1&2 Forex license in South Africa for sale

This is a Category 1&2 Forex license in South Africa for sale. The main details are available below. Forex license for sale: details of the transaction Type of the license: Category 1&2 license Bank account included No debts, No client base The license allows dealing in shares, money market instruments, debentures and securitized debt, warrants,...

CySEC investment firm for sale

The following is a brief description of a CySEC investment firm for sale. CySEC investment firm for sale: overview Business decreases its regulatory capital to 75,000 EUR because it does not hold clients’ money (rather, through the additional service of safekeeping clients’ money). With 8 clients and $5 million in funds under management, this CySEC-registered investment company...

South African Cat-1 Forex Broker for Sale

Unlock the potential of this Cat-1 South African broker for sale, equipped with a diverse range of financial services tailored to meet the dynamic needs of the market. Financial Services Portfolio: Insurance Expertise: Long-Term and Short-Term Insurance Health Service Benefits Investment Opportunities: Retail Pension Benefits Shares Participatory Interests in a Collective Investment Scheme Diversified Instruments:...

Crypto exchange company in Czech Republic for sale

New investment opportunity – crypto exchange for sale in Czech Republic. Please review the basic information about this offer below. Czech crypto exchange for sale: transaction details Company authorized to propose services related to the virtual assets in the Czech Republic with the following activities: Purchase, vend, store, manage, transfer or help with the purchase...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360