Financial licensing
Finance, like many other industries, is going through a digital transformation. Customers expect better deals and convenient ways to handle fiat and electronic money alike, and an EMI licence is a strategic way to meet those expectations: it widens your range of services and brings in new groups of customers.
An Electronic Money Institution (EMI) licence is the financial document that permits a company to issue electronic money and carry out a range of operations with it. It also acts as a regulator for the development of virtual payment instruments and mobile apps in the sector, making online transactions in digital currencies easier.
For companies whose payment transactions exceed 5 million euros a month. It permits activity across the whole European Economic Area (EEA).
Best for small firms expecting a turnover of no more than 3 million euros. A small EMI can serve clients within its country of registration.
With the licence, your business becomes an Electronic Money Institution. Put simply, your company can work like a bank without officially being one. There is, however, one important limitation to keep in mind:
An EMI DOES NOT have the right to open deposits for its customers or to offer them investment and/or lending services.
Bear it in mind as you enter the digital financial services market and plan how the company will grow once it holds the EMI licence. Our experts can tell you more about what digital transformation involves for a business in the electronic money sector. We also offer legal help, IT support, audit and accounting services and a good deal more.
EMI authorisation resembles the licence held by a payment service provider (PSP). It lets its holder do everything a PSP can, plus a range of operations with electronic money. Your company will therefore be legally able to:
If you mean to extend what your company can do or move into virtual financial services, you cannot do without an EMI licence. Our experts at Nimius Advisory will help you through each stage of the application.
Only the competent authority can issue this regulatory document, for example the national bank of the country you choose. Our experts have worked extensively with national banks across the European Union and know the requirements and procedures of each, so we guarantee our help in obtaining the EMI licence whichever jurisdiction you pick.
To get a licence abroad, you must:
EMI licence holders must also meet particular regulatory requirements and security standards, which protect their clients and keep their financial services working effectively.
Our experts can help whether you already know where you want your EMI licence or are still weighing it up. Here are the favourable conditions that popular European countries offer for an EMI licence.
Our experts will support you professionally all the way to your EMI licence.