An EMI (Electronic Money Institution) licence lets a company issue electronic money. With it, the company can carry out quasi-cash operations such as topping up e-wallets, buying virtual money and paying into forex accounts. The licence also allows your business to work as an EMI institution: a company holding every permission needed to issue digital currencies to legal entities and individuals.
Anyone planning to build an electronic wallet, an app that services third-party payments or other tools for operations with virtual currencies needs Electronic Money Institution status as well.
Permission to issue electronic money and carry out operations with it guarantees your business a wide range of opportunities:
A licence to issue electronic money in the Netherlands comes with favourable conditions, among them:
Foreign entrepreneurs can get a licence in the Netherlands while keeping only a minimal presence in the country. Other European countries can require as many as eight resident employees; here, two local directors are enough to submit the application.
Here a licence takes 6-12 months to process on average, and careful preparation with professional help can bring that within 8 months. Most other European jurisdictions need about 24 months to grant an EMI.
Every document for the application can be submitted in English, which saves a good deal of the time and money that translating business papers would cost.
In the Netherlands, electronic money institutions are licensed mainly by De Nederlandsche Bank (DNB). Anyone applying there for an EMI licence has to prepare these documents:
Our team has spent years working with banks in many countries. We know the conditions for submitting an application well, and we can help you put the document package together as quickly as possible.
Working with us, you can get a licence to issue electronic money in just 4 steps:
An expert goes through every detail of the work with you, studies what your company does, and estimates your chances of success and how quickly you can get an EMI licence in the Netherlands.
We collect the documents and help you draw up the business plan, company policies, accounting reports and the rest.
We prepare the EMI licence application and file the documents on behalf of your authorised representatives. When the regulator replies, we tell you the outcome and help settle any legal questions still open.
With the EMI licence in hand, you can turn to us for advice on growing your business and its digital transformation in the electronic money industry. Our experts also help with blockchain and other virtual asset projects.
Our specialists at Nimius Advisory can help you build an effective business plan and get your EMI licence in the Netherlands.