EMI licence

Obtaining an EMI License in Sweden

Key facts

Regulator: Swedish Financial Supervisory Authority (Finansinspektionen)
Minimum capital: EUR 350,000 (in Swedish kronor equivalent)
Validity: No expiration date; can be revoked for serious financial violations or fraud
Passporting / scope: Products and services across all EU member states
Local substance: A legal entity registered in Sweden or another EU country; directors and senior employees resident in the country

What an EMI licence is

An EMI (Electronic Money Institution) licence authorises its holder to issue electronic money. The holder may issue digital currencies and provide payment services, build and run a payment system of its own, and offer the full range of services linked to issuing e-money. The licence never expires: you obtain it once. It can, however, be withdrawn for serious financial breaches or fraud.

What an EMI licence opens up for a business

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

The authorisation covers these services:

Paying cash into accounts
Withdrawing funds
Processing payments, including transfers between a user and a payment service provider’s account in either direction
Issuing and distributing payment instruments
Payment initiation
Electronic money issuance
Information on account activity

The advantages of an EMI licence

Becoming authorised as an EMI in Sweden comes with favourable conditions. The main ones:

Access to the EU market. A licensed firm may sell its products and services in every EU member state, which lets it grow its market share and its customer base considerably.
Direct connection to SEPA. SEPA transactions go through without intermediary banks.
Flexibility. The holder can issue e-money, make electronic payments and provide a broad set of financial services. That makes the licence attractive to innovative FinTech companies that want to widen what they offer.
Competitiveness. With an EMI licence a company can build and offer new financial products and services, and so compete more strongly. Potential partners also see a licensed company as more credible and reliable, which makes relationships with customers easier to build.
Operational control. With the licence, your financial transactions are under your own control. You depend less on outside payment processors and have more room to shape services around what customers need.

What Sweden requires of EMI licence holders

In Sweden, EMI licensing is regulated and overseen by the Swedish Financial Supervisory Authority (Finansinspektionen). An applicant has to meet these criteria:

Registration as a legal entity in Sweden or another EU country
Directors and senior employees resident in the country
An effective risk management system that assesses and monitors the threats linked to the firm’s activities
Documents filed in English, apart from the business plan and terms, which are in Swedish
A business account with a reputable bank for its commercial activities
Share capital of no less than 350,000 euros, in the equivalent amount of Swedish kronor

The list above is not complete: an EMI licence comes with further requirements. The Nimius Advisory team knows every part of the licensing process and how to deal with the Swedish government authorities, and we bring deep expertise and long experience. Work with us and you will get your licence in the shortest possible time, without needless complications and with every required procedure followed.

How we can help

Getting an EMI licence can be a complicated and draining process, and that is where the Nimius Advisory professionals come in. With our support, the issue of your electronic money licence is guaranteed.

Our full range of services is designed to make you a fully fledged player in the financial market:

Preparation

We take care of gathering all the documents and, where needed, help draw up the business plan, accounting reports, AML procedures and the other key papers.

Risk assessment

We help you find and correct errors and inconsistencies in your current business plan. That lowers the risk of the licence being refused and keeps your business running smoothly and securely.

Guidance

Our consultants stay with you through the whole application, from filing it with the relevant authorities to the moment the licence is granted.

Consulting

Once the EMI licence is in place, we advise on how your company develops further and goes through its digital transformation in the financial sector. We can also help you carry out blockchain and other projects involving virtual assets.

Ready-made EMI companies for sale

EMI (Electronic Money Institution)NIM-10345

Authorised EMI in Southern Europe for sale

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A clean Electronic Money Institution in a Southern European member state of the EU (Eurozone), licensed in full for issuing e-money and a complete range of payment services, and in good standing with its regulator.

Price on request

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Active EMI in Cyprus for sale with Mastercard programme

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For sale: an active e-money institution in Cyprus, supervised by the Central Bank of Cyprus, with an established Mastercard programme and a regulated set-up for payments and e-money.

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Active EMI in Ireland for sale with SEPA and IBAN

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An Irish e-money institution, active and supervised by the Central Bank of Ireland, with SEPA access and the set-up to offer IBAN accounts and payment services across the European Union.

Price on request

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An EMI licence opens up new financial opportunities

Our team supports you at every step of getting the licence in Sweden. Contact us for a free consultation.