The Czech Republic positions itself as a country capable of providing a wide range of conditions for those who want to open their company in Europe. It is also popular for issuing permits for the transfer of electronic money. There are two types of permissions: EMI and SEMI licenses in the Czech Republic.
Before you begin to learn how to purchase a SEMI license, you need to understand how one differs from the other.
In EMI, you must transfer the initial capital of 350 thousand euros. Thanks to this license, an electronic money issuer can exist not only within the Czech Republic, but throughout the European Union.
A company receiving SEMI does not invest in capital, but its activities are limited to the Czech Republic.
This Czech license is very easy to obtain, but limited in features. Companies that decide to receive it can perform the following actions:
Limited resolution is much easier to obtain than full resolution. There are a number of prerequisites for the design of SEMI, these include:
These requirements significantly distinguish SEMI (Small Electronic Money Issuer) from EMI (Electronic Money Issuer).
A full license is more difficult to obtain. The company that decided to acquire it must be registered in the Czech Republic.
But there are a number of freedoms. The annual financial turnover may exceed the limit of 3 million euros, and the company may carry out its activities throughout the European Union.
In order to apply for this license, you must provide the following documents:
Unlike the EMI license, this license is obtained quite quickly. The whole period will be approximately 1-3 months from the moment of collecting and preparing the necessary package of documents. The term for an EMI license is much longer. It is 5-9 months.
Our company will help to deal with the necessary package of documents, terms, selection of the type of license and its receipt. Our professionals have been working in this field for several years and are well versed in all the pitfalls of the financial legislation of the Czech Republic.
Sреcialists of Eternity Law International will be happy to assist you in obtaining a SEMI license in the Czech Republic.