Eternity Law International Payment & E-Money Institutions EMI License SEMI licenses in the Czech Republic

SEMI licenses in the Czech Republic

Published:
February 4, 2020

Use and conditions for obtaining a SEMI license in the Czech Republic

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.

What features does the SEMI license provide?

This Czech license is very easy to obtain, but limited in features. Companies that decide to receive it can perform the following actions:

  • receive and pay with electronic money in the Czech Republic;
  • provide payment services using electronic money;
  • assist in the production of electronic money;
  • other types of assistance prescribed in the license document.

Prerequisites for obtaining a SEMI license

Limited resolution is much easier to obtain than full resolution. There are a number of prerequisites for the design of SEMI, these include:

  • mandatory location of the office in the Czech Republic;
  • this license can be obtained by companies registered outside the Czech Republic, but on the territory of the European Union;
  • cash turnover should not exceed 3 million euros per year;
  • ensuring transaction security and the reliability of saving customer money.

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.

Documents for obtaining a SEMI license

In order to apply for this license, you must provide the following documents:

  • a business plan that fully complies with the legislation, through which regulation and issuance of SEMI licenses in the Czech Republic takes place;
  • statutory package of documents confirming the legitimacy of the actions of the company to carry out activities related to electronic money;
  • personal documents of the management team.

Time to get a semi license

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.

You could be interested

Seychelles Payment service provider for sale

Payment service license in Seychelles for sale is an excellent option, if you want to enter the lucrative offshore financial market. Check out the details of the PSP license in the Seychelles. PSP license in Seychelles for sale: what’s included Type of the authorization: payment service provider (PSP); the license is issued by the Central...

AUSTRAC license for sale

Registration: independent registration of transfers and exchange of digital currency; Clients: absent since inception; Services: absent since inception; Bank accounts: absent since inception; AUSTRAC Annual Compliance Reports: Current to 2023. What is included: Already registered trademark and domains; The license identification number LEI and BIC number are registered; A customer account opened with an FCA-authorised...

Mauritius company with Investment Dealer license and GBL1 for sale

This company with Investment Dealer license and GBL1 license for sale was licensed in 2020. Company with Investment Dealer license&GBL1 license in Mauritius for sale! Type of License: Investment Dealer (Broker) License. Type of Company: Global Business License (1) and the company is in good standing. Company has one bank account. Share capital: 30,000 usd....

For sale beer retail license

Beer retail license for sale The liquor trade is one of those businesses that require a compulsory license. Its availability and performance of licensed services are strictly checked by regulatory authorities. At the same time, a license is needed to trade both strong and low alcohol drinks, for example, for retail trade in beer. Such...

Canadian MSB (Money Services Business) for sale

New investment opportunity – Canadian MSB (Money Service Business) for sale. Canadian MSB (Money Service Business) for sale: what’s included The MSB license has the following scope of authorizations: Money remittance, Forex trading and Payment service provider. A client base is established and it’s possible to buy an MSB in Canada with existing clients. The...

Company with crypto authorization in Poland for sale

Below you can see the basic information regarding the company with crypto authorization in Poland for sale Company with crypto authorization – whats included: Crypto authorized company; Clean company, didn’t conduct any activities; Company is registered in Polish Virtual Currencies Business Activity Register; Allowed activities: – exchange between virtual currencies and means of payment; –...
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof

Kyiv

Baseina street, 7

London

Grosvenor Gardens, 52

Washington

1629 K St. Suite 300 N.W.

Vilnius

Gediminas Avenue, 44A

Tallinn

Kesklinna linnaosa, Tuukri 19

Edinburgh

Lochrin Square, 1

Nicosia

Jacovides Tower, 5 floor

Riga

Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard

Sydney

20 Martin Place

Porto

2609 Avenida da Boavista

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7