EMI licence

Obtaining an EMI License in Latvia

Key facts

Regulator: Bank of Latvia
Timeline: Typically 3–4 months, including a pre-approval stage
Minimum capital: EUR 350,000 (standard EU minimum for EMI)
Passporting / scope: Services can be passported throughout the EU/EEA
Local substance: A Latvian limited liability company (SIA) with its management board in Latvia and at least part of the operations in Latvia

What an EMI licence lets a business do

With an EMI licence in Latvia you can offer a wider range of payment services than financial institutions that handle instant payment processing.

The authorisation gives you the right to provide these services:

Withdrawing funds
Processing payments, including transfers from a user to the account of a payment service provider and back
Issuing and distributing payment instruments
Payment initiation
Issuance of electronic money
Account activity information services

Why get an EMI licence in Latvia

How Latvia compares with other EU jurisdictions for an EMI licence:

The regulatory environment

Applications processed quickly: 3-4 months, against 12-18 months in other EU countries
A pre-approval stage is available, which lowers the risk of delays
A dedicated fintech team gives direct access to the regulator
Services can be passported across the EU/EEA

Running costs

Much lower than in Western European jurisdictions
Office space from 350 EUR a month, compared with 1000+ EUR in Amsterdam/Frankfurt
Senior management salaries of 5-7 thousand EUR a month, compared with 10+ thousand in Western Europe
Basic accounting from 100 EUR a month
Lower operating overheads overall

Infrastructure and support

A direct connection to SEPA through the Bank of Latvia
A mature banking ecosystem that is friendly to fintech
Skilled IT specialists at competitive rates
Up-to-date digital infrastructure
Support, including visa programmes, from the Investment and Development Agency

The business environment

State grants for start-ups
A strategic position between the EU and Eastern markets
Plenty of professionals with finance and banking experience
A strong supply of IT and fintech specialists who speak English
An EU member state with the euro as its currency

EMI licence requirements for applicants

The Bank of Latvia regulates and supervises EMI licensing. A company applying for the authorisation has to meet these criteria:

Registration in Latvia as a limited liability company (SIA)
A management board based in Latvia, with at least part of the operations carried out in Latvia
Directors and key staff with no criminal record and proven financial-sector experience
A detailed business plan covering 3 financial years
Effective systems for risk management and internal control
An AML (anti-money laundering) policy and KYC procedures
Documents showing how users of the e-money services are protected
Submission of the Articles of Association and other company documents

Capital requirements

The standard EU minimum capital: 350,000 EUR for an EMI
No extra buffer capital required
Flexible rules on protecting funds
A simple process for verifying capital

Licensing here has a unique pre-approval stage and usually takes 3-4 months in all, much quicker than the 12-18 months of most EU jurisdictions.

Ready-made EMI companies in Latvia

EMI (Electronic Money Institution)NIM-11183

Active EMI in Latvia for sale with SWIFT and Correspondent Accounts

LVLatvia

A Latvian e-money institution, active and supervised by Latvijas Banka, whose payment set-up can include SWIFT connectivity and correspondent banking, with scope for passporting across the EU.

Price on request

EMI (Electronic Money Institution)NIM-11020

E-money Institution in Latvia for Sale

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Latvian AEMI sold as a turnkey EU operation, with its own SEPA rails, core banking software built in-house and early traction.

Price on request

EMI (Electronic Money Institution)NIM-10793

EMI license in Latvia & AEMI in UK for sale

LVLatvia

A clean EMI-licensed company in Latvia, registered in 2021 and licensed since 2024 with €415,000 capital, together with a UK AEMI with £350,000 capital and business and safeguarding accounts at Teslapay.

Price on request

View all licences for sale

Rather skip the long registration process? Look at EMI-licensed companies in EU jurisdictions that are available now.

Our “Ready-made financial licenses for sale” page lists operating companies that are ready to buy, so you can enter the European market without delay.

Ready-made financial licenses for sale