As the globe progresses increasingly with the improvement of technology, the expansion of electronic remittance systems can be observed. There are three entities engaged in electronic remittance transactions:
In order to lawfully conduct commerce, acquirers and issuers will require a PSP (Payment Service Provider) charter. It is granted at the state level by the realm to whose dominion the enterprise belongs. The selection of dominion in which you wish to secure a PSP charter should be considered diligently, so that the payment scheme can function with cards of myriad banks and currencies of numerous nations. One of the most moderately obtainable realms is Belize. Considering the moderate stipulations for the equity capital when securing a charter, Belize can be regarded as the supreme selection.
In modern times, remittance facilitators situated in conventional pecuniary hubs, like the United States and the European Union, have encountered heightened constraints from overseeing bodies. Consequently, remittance facilitators have grown more constrained in the sectors they cater to, forsaking not solely conventional precarious markets, but also more conventional, cautious enterprises. A PSP authorization in Belize furnishes an esteemed stage to engage in payments-linked commerce with reduced hindrances encountered by operators in grander jurisdictions.
Belize provides a PSP authorization that encompasses all associated pecuniary undertakings, including person-to-person pecuniary exchanges and pecuniary administration. In recent epochs, the domestic governance has endeavored with considerable accomplishment to transition the emphasis of the country's economy from rudimentary commodities to monetary amenities, inclusive of bestowing a remitment charter.
Numerous principal remittance utility suppliers possess PSP charters in Belize. Moreover, the procedure of acquiring a charter is economically efficient and can be accomplished in a moderately brief duration. The domestic handling of global commercial enterprises and the juridical framework render Belize one of the most captivating sites for asset conservation.
A remittance authorization permits a range of pursuits, such as executing remittance transactions, dispensing and/or procuring remittance instruments, and monetary conveyances. Similar to other pecuniary establishments, PSPs are proscribed from receiving deposits or other reimbursable funds from the populace. Operators with a PSP authorization must employ the funds solely to furnish remittance amenities.
Attention
This is not a conventional, but a specialized enterprise that will possess a particular modus operandi mirroring its undertakings.
Significant
The principal must be maintained in an authorized bank/financial entity within this jurisdiction.
A remuneration utility purveyor authorization in Belize is granted by the International Financial Services Commission (IFSC) in accordance with the stipulations of the International Monetary Workforce Commission Act. The Commission supervises the undertakings of pecuniary establishments enrolled and functioning in Belize. It is its duty to authenticate that endorsed establishments conform with relevant statutes and decrees and subsequently grant a licensure accord.
The epoch for conferring a PSP permit is 3 to 5 moons from the date of the real tender of the official petition to the IFSC. Pursuant to the lawful stipulations, the firm is mandated to refresh the permit annually. In the course of contemplating the plea for reclamation of the remittance utility supplier's licence, the Commission will evaluate the liquidity, efficacy of the amenities proffered by the establishment, and the outlook for subsequent operations of the specialized enterprise.
Upon seeking a PSP permit, customers may select one or several of the sanctioned undertakings:
Prior to acquiring a PSP authorization in Belize, bear in mind that the applicant firm's governance (directors and other functionaries) must possess sufficient erudition and expertise in the enterprise the firm intends to pursue. The IFSC retains the prerogative to solicit documentary proof of the vocational aptness of the applicant's attributes, the commendable repute of the framework, and the principal agents of the establishment.
The following is a summary of the features of Belize's PSP licence.
Type of company required to participate
Belize Ltd
Corporate taxation
1,75%
Minimum paid-up share capital
from 5 thousand to 100 thousand USD.
Basic requirements
Time period
A decision on a full application is usually made after IFSC approval within 3-5 months from the date of submission.
This article is furnished for edifying intentions and should not be construed as juridical counsel. If you yet possess inquiries regarding how to secure a PSP authorization in Belize, communicate with TK Deal experts promptly.
The savants of our corporation will furnish the requisite assistance.
You may reach out to us by completing the response form provided.
Obtaining a MSB (monetary expedient establishment) licence in Canada bestows the opportunity to tender monetary services in the realm located in North America. To initiate operations in the Canadian economic market, it is crucial to be aware of each duty potentially entailed in the process of obtaining an economic licence in Canada. Subsequently, a more detailed exposition on how to acquire a Monetary Expedient Establishment licence in Canada will be provided.
Acquiring a permit for dispensing pecuniary amenities in Canada is an obligatory prerequisite if you are engaging in commerce in this jurisdiction and proffering the subsequent amenities:
To acquire a Money Services Business (MSB) permit in Canada distantly, it is vital to enroll with the Financial Transactions and Reports Scrutiny Center of Canada (FINTRAC). Enlistment with FINTRAC does not connote that the overseer sanctions or permits the enterprise. It merely signifies that the establishment has satisfied the prerequisites for enrollment as a non-banking pecuniary institution in Canada.
Acquiring a permit for pecuniary conveyance amenities in Canada is the inaugural stride for the petitioner corporation in instituting its manifestation in North America. The permit authorizes the corporation to offer its amenities through the Worldwide Transfers framework within the jurisdiction.
Canada is one of the largest global markets for money transfers. According to the World Bank report, migrants and foreign workers in the country send more than 24 billion USD abroad annually. The top five countries receiving money transfers from Canada include:
With infrequent exemptions, a Money Services Business (MSB) must enroll with the Bureau of the Exchequer. Firms delivering ethereal wealth amenities (EWA) can likewise acquire a PUE authorization in the Dominion of the Maple Leaf without a corporeal manifestation. Kindly be aware that neglecting to enroll or secure the obligatory authorization may culminate in sanctions.
Canada is an enchanting jurisdiction owing to the pliant prerequisites imposed by the government on monetary enterprises, adherence to global regulatory benchmarks, and a lofty level of legal safeguard
Amidst the antecedents for acquiring an MSB permit in Canada, there exists no designated quantity for the statutory capital. This is a remarkable benefit in contrast to an EMI license in certain European Union nations, wherein your corporation's capital must commence at 350,000 EUR.
Esteemed one of the most credible universally, Canada's fiscal and monetary framework bestow exceptional opportunities for commercial pursuits. Presently, Canada ranks 9th in the orb's commerce and is venerated as one of the paramount locales to inaugurate an enterprise, with a propitious ambiance and tax system assuring robust and unwavering augmentation and evolution of your venture. Remittance аrameworks and monetary establishments play a pivotal role in Canada's monetary industry. The administration has exceedingly permissive prerequisites for ventures intending to proffer monetary services, contributing to the enhancement of the monetary sector for both domestic and alien residents. These are the principal rationales why you should contemplate an MSB license in the Canadian dominion.
Procuring an MSB credential in Canada can be a relatively brisk procedure, transpiring anywhere from a duo to quintet of months. This is in juxtaposition to the lengthier maturation time for an EMI credential in European terrains, which customarily spans from sextet months to an annum. Instead of becoming ensnared in bureaucratic entanglement, one can sagaciously utilize their epoch to concentrate on augmenting their commercial endeavor. This is one persuasive rationale to embark upon an MSB credential pursuit in Canada. By adhering to Canadian stipulations, fiscal ventures that proffer services to clientele enact a pivotal part in aiding the governance in identifying and counteracting illicit undertakings and the legitimization of unlawful pecuniary resources. In Canada, there are a duo of fiscal institutions that are mandated to comply with the Procurement of Currency (Money Laundering) and Terrorist Financing Act (PCMLTFA): the Fiscal Management Service Bureau (FMSB) and the Monetary Service Bureau (MSB).
constitutes a non-banking monetary establishment proffering fiscal amenities, potentially sited beyond Canada's borders, whereas an MSB functions solely within the nation's confines. Each variety of these institutions must enroll with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and satisfy their declarative duties as stipulated by PCMLTFA
Associations shall be regarded as MSBs (Monetary Service Enterprises) provided the ensuing criteria may be ascribed to them:
Moreover, your establishment might be categorized as a MSB (Monetary Services Enterprise) if:
In consonance with FINTRAC, juridical entities dispensing remittance disbursements or handling disbursements for commodities and amenities might convey funds or participate in digitized currency commerce.
Enterprises shall be regarded as FMSBs (Overseas Capital Assistance Enterprises) if specific criteria can be ascribed to them. You furnish any of the amenities that meet the requirements as MSBs, but concurrently:
Specifications
MSB
FMSB
Currency Classification: Specie and Cryptocurrency
Performs with Canadian dough
Performs with distant legal tender
Assistance Variety (the proffered aid encompasses pecuniary interchange maneuvers, transacting electronic funds, and furnishing software resolutions for communal fundraising)
Yes
Registration Availability
License Availability
Operation Surveillance
FINTRAC
Clientele Foundation
Corporeal and juridical beings
Regional Residence Accessibility
No
Existence of Indigenous Personnel and Operatives
Current Existence of Recipients/Executives
Boughs, Depictions in Canada
Current Existence of a Regional Conformity Functionary
Examples
Western Union, MoneyGram
PayPal, Stripe
In the circumstance that you function exclusively as a delegate of MSB and proffer a constrained array of services, you will not be categorized as an MSB or FMSB, given that the MSB entity you represent is appropriately registered.
You are likewise not regarded as an MSB or FMSB if you partake in MSB pursuits during the delivery of an alternative form of assistance, in which instance your enterprise is answerable to the pertinent governing bodies.
In 8-10 fortnights, the firm will be thoroughly enrolled as a pecuniary amenities purveyor, and an extra 2-3 fortnights will be necessary to commence comprehensive operations and inaugurate a depository institution account. The phases are elucidated with the involvement of a particularized consultancy entity, markedly streamlining and hastening the whole procedure.
The Statute concerning Earnings from Offenses and Patronage of Terrorism is targeted at countering cross-border illicit operations that contribute to the legitimation of funds acquired through illicit means or the funding of illicit activities. The statute establishes benchmarks and prerequisites for enterprises delivering monetary services and imposes measures for oversight and repercussions for breaches of these prerequisites.
Canada's statutes on countering capital purifying and the funding of extremist deeds are amid the most rigorous globally. Entities that do not adhere to its prerequisites may encounter substantial fines and penal accountability. Therefore, it is advised that all enterprises implicated in monetary transactions thoroughly adhere to Canadian legislation, collaborate with FINTRAC, and systematically instruct their personnel on these matters.
Pursuant to the statute, to procure an MSB (Currency Work Enterprise) permit in Canada, it is mandatory to possess an AML/CTF adherence initiative. It comprises of these quintet constituents:
In augmentation to the antecedently stated prerequisites, those endeavoring to acquire an MSB (Monetary Amenities Enterprise) permit in Canada from a distance will necessitate ensuring that the fiscal establishment functions in conformity with KYC tenets (Cognize Your Client). This comprises:
As part of recent alterations to the AML system, approaches for identity substantiation have been revised and contemporized. Formerly, the document employed for identity substantiation had to be "furnished in its original form and be currently valid." Presently, to authenticate a client's identity, dependence can be situated on documents provided in an electronic format.
Statutes and criteria wield a pivotal role in overseeing endeavors. Let's ponder over fiscal transactions. In Canada, is not delineated as bona fide legal tender but rather assumes the stature of an asset. This implies that deals concerning ethereal wealth are subsumed under the Income Tax Act (ITA).
Visionaries must factor provincial tax gradients where their enterprise operates and transmute the worth of into CAD for fiscal intents to ratify the transaction with The most advantageous fiscal regimen is conferred upon entities enlisted in British Columbia, situated on the occidental verge of Taxation in this locale possesses some idiosyncrasies:
Canadian governance trailblazers assemble operation chronicles disclose benefits hindrances earnings.
Record-keeping is an intrinsic element of business proceedings in Canada, particularly in the realm of electronic currency. are compelled to provide their chronicles for taxation purposes.
To extant statutes, revenue from digital currency undertakings may incur levies. The primary scenario encompasses the enterprise engendering revenue (charges for transmissions, interchanges, warehousing, etc.), in which instance the entirety of the earnings is susceptible to levies. The secondary circumstance arises when the enterprise does not directly generate revenue, but instead, the holdings owned by the entity appreciate in value. In this scenario, it is not revenue from operations but rather capital appreciations, and solely 50% of the realized earnings are susceptible to levies.
FINTRAC wields Administrative Pecuniary Reprimands (APR) upon establishments neglecting compliance with relevant statutes. This assists in congruence and fortifying the country's fiscal framework against nefarious activities like financial obscurantism and backing of insurrectionary endeavors. Should an establishment falter in observing statutory mandates, it might confront sanctions of substantial scale, reaching into the multimillion-dollar realm.
In accordance with Administrative Fiscal Sanctions, FINTRAC is to levy alternate admonishments upon malefactors. For example, establishments may procure mandates to ameliorate infringements, and FINTRAC may solicit ancillary information or dossiers from the consortium. In the scenario that the establishment fails to ameliorate infringements or cooperates with FINTRAC, penal prosecutions might be initiated against it.
Unwavering allegiance with prerequisites persists as a vital facet of the enterprise suggestion pertaining to enterprises in Canada.
MSB is an autonomous entity functioning externally to the conventional banking framework yet sanctioned to partake in diverse fiscal operations within the nation. These operations encompass offering fiscal transfer amenities, aiding in digital currency interchange, engaging in payment networks, functioning as a fiscal intermediary, and acting as a currency broker, amongst others. In Canada, NMSBs are governed in compliance with extant statutes.
To procure a permit in Canada, one ought to engage with the non-directive entity FINTRAC and proffer a petition. This petition must encompass comprehensive details regarding the aspirant and its pursuits, such as commerce blueprint, existence of a provincial office, particulars regarding progenitors, successors, and fiscal overseers, specifics concerning the monetary repository, and so on. Subsequent to the petition's lodgment, FINTRAC will scrutinize and ascertain whether to confer the permit. The interval from enlistment to the granting of a permit can span from 3-4 weeks to several months. Nonetheless, the appraisal of the FINTRAC permit dossier may necessitate about 3 weeks, provided all documents are furnished and submitted in totality. Additional documents might be requisite in the process, potentially elongating the timeframe.
Unity and MoneyGram are paradigms of MSBs. They endow conveyance utilities, enabling the dispatch and occurrence of capital globally. Typically, any endeavor that facilitates electronic compensations, fiduciary advances, pecuniary transformation, monetary conveyances, and alternate modalities of pecuniary transactions might be regarded as a capital services enterprise (MSB). These endeavors can fluctuate from gargantuan financial institutions to diminutive novelties.
The endorsement in Canada is allocated and overseen by the monetary Transactions (FINTRAC). Individuals and corporations may request a zenith agreement in Canada. We have delineated those that fall under authorization. For a more intricate elucidation, you may seek advice on the framework of assessments in Canada.
Georgia affords an occasion to procure a Georgia Payment Service Provider Licence sans a visitation, which shall permit its possessor to proffer online electronic remunerative amenities to its patrons. These amenities may be extended via the Internet through computing machines and portable contrivances. Acquiring a remunerative servitor permit in Georgia is executed by tendering an entreaty to the National Bank of Georgia (NBG) pursuant to the stipulations of the Statute of Georgia concerning Payment Frameworks and Remunerative Amenities. If one seeks a locale to enlist a remunerative servitor in Europe economically, Georgia might prove a viable preference. Within this exposition, we shall scrutinize the process of enlisting a remunerative framework in Georgia and securing a remunerative permit in Georgia.
Advantages of obtaining an EMI licence in Georgia:
What services can be provided after obtaining a Payment Service Provider licence in Georgia:
The inaugural step in the procedure of petitioning for a PSP permit in Georgia is to institute a Georgian restricted accountability firm or enroll a common capital corporation in Georgia. Instituting a firm in Georgia customarily consumes approximately a septenary, whereas PI enrollment in Georgia consumes from 3 months.
The next step is to prepare documents such as:
It is estimable musing that the corroboration is tendered in Georgian. Consequently, if this is not the circumstance, a rendition of all documentation is requisite.
Enrollment with the Georgian tax authorities will also be necessitated. The entirety procedure of enrollment of a Georgian payment service purveyor licence consumes from 2-3 moons after tendering of the consummated supplication. Once a Georgian e-money licence is acquired, the licensee will be mandated to tender periodic communiqués to the overseer. Tendering of such certificates must be executed punctually to assure the legitimacy of the indigenous PSP licence.
If you break down the steps in more detail, they are in this sequence:
Even if all conditions are met, the regulator reserves the right to refuse to grant a PI licence in Georgia.
Any company registered in Georgia can apply for a payment service provider licence in Georgia. It is mandatory to have an operational office and a local manager/director in Georgia. The local firm will have to fulfil certain requirements set by the supervisory authority, such as:
You will need to fabricate your own softwares to administer all your patrons' remunerations, their reckonings, dealings, individual attestations, etc. Multilingual softwares is the ingredient that sanctions you to administer clientele data as well as all remunerations with one click.
From a tax perspective, this licence has flexibility and scope for lower tax rates. Standard tax rates:
Georgia is currently captivating a copiousness of e-money purveyors. If you are intrigued in purveying electronic payment amenities in Georgia, acquiring a payment franchise in Georgia will be one of the principal stipulations. The inaugural stride will be to enlist a PSP enterprise in Georgia. It can be structured either in the guise of an LLC or a consortium stock enterprise. This is succeeded by tendering an entreaty for a payment franchise in Georgia to the overseer. Georgia proffers one of the most frugal alternatives for instituting a payment institution or procuring an e-money institution franchise in Europe. The payment accommodation purveyor franchise for an authorised payment institution or e-money institution is regulated in Georgia by the National Bank of Georgia (NBG). Our connoisseurs can furnish counsel on fiscal regulation in Georgia if you necessitate further enlightenment on this subject.
A payment processing authorization is a green light issued by the financial oversight authority for facilitating operations within the financial ecosystem or performing functional, data-related, and other technical capabilities associated with monetary transactions. A company holding such a license is empowered to engage in payment operations, fund transfers, and other commercial activities.
To obtain a payment operator license in Kazakhstan, it is typically required to provide documents verifying the company's compliance with certain requirements such as organizational structure, financial stability, security systems, and other standards.
The article discusses the legal aspects that need to be addressed when applying for a payment operator license in Kazakhstan.
Payment operators often choose Kazakhstan for business for several reasons:
These factors contribute to making Kazakhstan an attractive place to obtain a payment operator license.
To obtain a payment operator license in Kazakhstan from the competent authority (the National Bank), several procedural steps must be followed. Here are the primary stages of the process:
Upon successful adjudication of the application, the applicant will be granted a payment operator license. A judicious approach would entail consultations with legal counsel, affording the client the opportunity to glean further granular details concerning the intricacies of acquiring a payment operator license in Kazakhstan.
A license for a payment system operator in Kazakhstan is issued exclusively to legal entities registered within the country. For the license application to be approved, it is necessary to prepare an extensive list of documents, among which:
The rules of the payment organization must contain:
This is just a general list of the main aspects that should be included in the rules of a payment organization.
Payment operators offer a wide range of services, some of the main ones include:
The establishment of payment operators requires a certain capital. According to national legislation, the minimum capital required for creating a payment operator is:
It's important to remember that the capital requirement can fluctuate based on the scale and nature of the payment operator's intended operations. If the organization with a payment operator license in the Republic of Kazakhstan plans to offer a combination of payment services, the minimum capital threshold will be determined accordingly:
Important. Regulators and licensing authorities may impose additional capital requirements on payment processors.
Registering as a payment system operator entails a meticulous process, necessitating familiarity with the legislative landscape of the chosen jurisdiction (in this instance, the Republic of Kazakhstan), including staying abreast of any legislative revisions. Hence, it's advisable to seek guidance from a proficient specialist to obtain thorough advice and compile a comprehensive set of essential documents for the licensing procedures.
TK Deal boasts a team of seasoned experts who can provide in-depth guidance on Kazakhstani payment service regulations. They can assist you in selecting the optimal corporate structure, draft all necessary policies and documentation, and offer unwavering support throughout the payment operator licensing procedure.
The Portuguese Republic is encompassed in the roster of evolved constituent nations of the Eurozone, which are delineated by auspicious parameters for engaging in commerce within the pecuniary realm. The polity's monetary framework is thoroughly amalgamated with global and Continental fiscal exchanges, which is salient to consider for individuals intrigued by a remittance facilitator permit in Portugal.The Bank of Portugal (BP) joined the European System of Central Banks (ESCB) in 1998.
This signifies that the enactment of the nation's pecuniary stratagem and the orchestration of sovereign forex hoards is executed pursuant to the edicts of the CSPV. Henceforth, the Portugal apparatus modulating fiduciary establishments and pecuniary entities is, broadly speaking, synonymous with the statutory scaffold operative in other EU Confederation Constituents. Subsequently, we shall scrutinize the idiosyncrasies of the governance of pecuniary undertakings in Portugal, alongside the stipulations requisite to procure a Portugal disbursement facilitator warrant.
The fiscal amenities sphere in Portugal comprises entities such as:
The ensuing are accountable for supervising fiscal undertakings in Portugal:
It is the fiduciary services arbiter and is accountable for superintending the fiscal and fiduciary domain. Specifically, its ambit of oversight encompasses depositories, credit and hypothecation lending establishments, as well as remittance entities and EMIs.
The CMVM administers all undertakings associated with the stock exchange (encompassing crowd-investing platforms and every other conventional entity). CMVM, alongside the BP, monitors undertakings on the stock exchange.
The ASF is accountable for the oversight of the indemnity and pension reserves sector.The Payment Services and Electronic Money Legal Framework (PSEMLF)promulgated by Edict-Law No. 91/2018 of November 12 presides over fintech establishments in Portugal, encompassing remittance service purveyors and e-money disseminators.
This structure transplanted Directive 2015/2366 of the European Parliament and of the Council into the Portuguese juridical framework. The PSEMLF also presides over the ingress of tertiary party purveyors, such as payment inception service providers and account intelligence service providers, into the Portuguese marketplace.
The PSEMLF delineates the stipulations and prerequisites for the enrollment and accreditation of pecuniary institutions in Portugal and electronic currency originators, as well as PISPs and AISPs, all of which are under the purview of BP. To accomplish this, enterprises must present specific obligatory juridical documentation to the overseer. This encompasses:
The minimal statutory opulence requisites for PIs vary from a least of EUR 20k to EUR 125k (hinging on the genre of amenity proffered) and a least of EUR 350k for EMI.
If you aim to procure a PSP credential in Portugal or enroll an electronic currency establishment, it is valuable pondering that all promotion and advertising conducted by such establishments must adhere to the overarching regulations pertinent to banks and other monetary establishments. This implies that, amidst other prerequisites, all promotional and promotional articles and components must unambiguously specify the proposition or endorsement and assure that the indispensable attributes and conditions of the merchandise or amenity being vended are readily comprehensible by intended consumers. The PSEMLF stipulates an extensive enumeration of wares and amenities that can solely be proffered by payment establishments or EMIs and PISPs or AISPs.
Payment Service Provider (PSP) –
in accepting remunerations via tickets and transmissions. To accomplish this, PSPs customarily furnish vendors with a vendor reckoning and a remuneration portal that enables establishments to welcome remunerations.
A Payment Institution (PI) is a peculiar genre of PSP that was devised in harmony with Directive 2007/64/EC, alternately labeled as PSD. The pursuits of payment establishments are presently under the governance of PSD2 and its execution at the regional level by EU constituent entities.
Within the schema of PSD2, remittance establishments can tender their patrons the ensuing catalogue of amenities:
Generally, PIs can offer akin amenities as EMIs. The principal disparity lies in their incapacity to dispense electronic currency.
An electronic money institution in Portugal is an individual sanctioned to emit electronic currency under statutes that enact Title II of Directive 2009/110/EC, commonly referred to as EMD2.
Furthermore, in augmentation to the amenities proffered by customary PSPs, EMIs can dispense e-currency. Additionally, e-currency dispensing establishments are also empowered to furnish remittance utilities as stipulated in Annex 1 of PSD2.
Not all EMIs are automatically capacitated to dispense these ministrations upon acquisition of a charter, hence it's pivotal to acknowledge that not all EMIs can furnish all of these conveniences. Consequently, enterprises and establishments aspiring to be sanctioned as EMIs by a national overseer in the EU must delineate the remittance conveniences they seek endorsement for.
It is additionally crucial to comprehend which remunerative amenities are correlated to the issuance of electric currency and which are not associated with this. This is due to the fact that providential requisites diverge for correlated and uncorrelated remunerative amenities furnished by electric currency institutions.
In accordance with the ECB's explication, electronal lucre denotes value that is stowed electronically, whether on a carte, on a handset or on the Interweb. The EMD2 elucidation of electronal lucre similarly encompasses pecuniary worth stashed on magnetic media that may be employed as a mode of disbursement and is upheld by entities distinct from the proponent. Consequently, implements that hoard pecuniary worth ought to be broadly embraced and utilized as a disbursement modus.
Article 4(12) PSD2 affords that a pecuniary deposit is an ledger inaugurated in the designation of one or more utilizers of a precise pecuniary attendance for the end of executing pecuniary transactions. Analogously, Article 2(3) of Directive 2014/92/EU affords that a pecuniary deposit is an ledger inaugurated in the designation of one or more patrons and wielded to execute pecuniary transactions.
For the designs of these explications, an enumeration utilized for remitment transactions is esteemed a recompense enumeration. It is pivotal to take heed that EMIs, PIs, and banks may furnish recompense enumerations to their patrons. Nonetheless, the efficacy of these enumerations diverges contingent on the institution in question.
Given the aforementioned, any corporation or institution desiring to issue a tool meeting the criteria of electronic currency according to the aforementioned delineations shall be obliged to petition for licensure as an license as an EMI in Portugal.
PSPs or EMIs based aloof may proffer their ministrations in Portugal, contingent on anterior approbation and enrollment with BP. Pertinent requisites and methodologies may diverge contingent on the estate of nativity. Enterprises entrenched in EU territories can function in the land if they inscribe a limb in Portugal or possess a license that confers upon them the liberty to dispense ministrations (accreditation).
If the juridical entity tendering the plea abides in a tertiary realm state, it must institute a limb or, as an alternative, institute a progeny in Portugal (pursuing a more convoluted enrollment process).
Both remuneration and electron wealth establishments, alongside PISPs and AISPs, in addition to the ruling entities of crowdfund platforms, are liable to authorization and enrollment with either the BoP or the CMVM, correspondingly.
As aforecited, to procure an EMI permit in Portugal, you necessitate to furnish a plethora of manuscripts to BP:
The PSP accreditation process in Portugal comprises numerous phases:
You will need to solicit leave to inaugurate an electronic currency establishment in Portugal from BP. The solicitation must be conjoined by the establishment's corporate manuscripts (preliminary constitution delineating the envisaged compass of pursuits and amenities proffered), an exposition of the geospatial situation of the enterprise, internal structuring and resource accessibility. The solicitor must proffer an intricate commerce strategy for 3 years, furnish a testimonial of deposition of the necessitated sum of wealth, as well as an exposition of the precautions taken to safeguard patron holdings.
The business plan must include:
Banco de Portugal scrutinizes the entirety of the data received, assesses and scrutinizes the data. The repository may solicit from the petitioner supplementary documents that it deems requisite to render a determination. It is worthwhile to contemplate that if the petition does not adhere to particular criteria, the overseer may dispatch a notification to the petitioner and afford the chance to rectify the pinpointed disparities.
Banco de Portugal may adopt one of the ensuing determinations:
The overseer grants authorization to inaugurate an establishment if the petitioner fulfills the stipulations governed by pertinent domestic statutes.
The Bank of Portugal declines to grant an endorsement if the petition does not adhere to all the endorsement prerequisites outlined in the relevant national statutes, notably in the circumstances delineated in Article 20(1) RGICSF applicable to electronic pecuniary establishments.
In some instances, BP might, pursuant to Article 21(1) and (2) of the RJSPME, designate as a requisite for the bestowal of authorization that it necessitate the formation of a distinct mercantile enterprise whose solitary aim is to dispense electronic currency and, when fitting, furnish remittance amenities. This guarantees the demarcation of the dispensation of electronic currency and remittance amenities from undertakings that deviate from these amenities, wherein such undertakings could be prejudicial to the fiscal robustness of the electronic currency institution or the supervisory aspirations of the Bank of Portugal.
Banco de Portugal shall apprise the petitioner of its determination within three lunar cycles subsequent to the reception of the exhaustive submission or the requisite supplementary elucidation.
The concession of authorization permits the petitioner to inaugurate an electronian pecuniary establishment in Portugal, which ought to commence operations within a dozen moons of the Bank of Portugal's resolution. Subsequently, the license deteriorates. For an establishment to inaugurate its pursuits, enrollment in a distinct BP ledger is compulsory.
Upon the inception of an electronic pecuniary establishment has been sanctioned by the Banco de Portugal, and subsequent to the corporation being actualized, concerned parties must solicit a distinctive establishment enrollment.
Upon such a supplication, Banco de Portugal conducts a preliminary scrutinization of the premises of the electronic pecuniary institution to verify whether all requisites for acquiring the authorization requisite to institute an electronic pecuniary institution or to conduct undertakings are fulfilled.
If the on-site corroboration of statutory and operational exigencies is triumphantly accomplished, Banco de Portugal enrolls the establishment in a distinct ledger. An electronic currency institution may commence its operations subsequent to the finalization of registration.
Acquiring a remuneration institution warrant in Portugal enables you to execute pecuniary undertakings in one of the propitious nations of the European Union. It is noteworthy that, contingent upon the requisite criteria, enterprises may proffer their amenities in other partaking nations via passporting. You can glean further insights concerning the governance of monetary undertakings in Portugal from our adepts during an individual colloquy. We stand prepared to furnish assistance in the progression of warranting and commencing your enterprise.
Acquiring a Stored Value Facility (SVF) authorization in Singapore is a crucial process for entities desiring to partake in electronic payments and fiscal amenities within the nation. This form of authorization is obligatory for undertakings associated with the evolution of remittance frameworks and the allotment of digital currency, enabling enterprises to oversee web-based accounts, simulated currencies, prepaid tickets, and execute web-based remittance transactions.
Singapore, as a leading financial centre, is committed to providing an efficient and secure financial environment, which is why organisations in the FinTech sector require an official licence. Firms with a Singapore SVF licence have the ability to handle cryptocurrencies and operate freely with e-money and payment instruments. This licence is comparable to the EMI licence in Europe, making it attractive for global financial transactions.
The Monetary Authority of Singapore (MAS) employs global norms while dispensing SVF permits, fostering reliance and safeguard in the fiscal sphere. Enterprises must hence satisfy particular benchmarks, encompassing the credentials of the managerial cadre and accomplishing established expertise prerequisites. Non-compliance with these prerequisites might culminate in the rejection of a permit.
Henceforth, the procedure of acquiring an SVF permit in Singapore mandates comprehensive groundwork but also bestows noteworthy openings for enterprises operating in the electronic payments and fiscal amenities sector.
Comparing the SVF licence in Singapore and the EMI licence in Europe provides insight into the key differences between the two types of licence, which are important for businesses operating in the finance and electronic payments industries.
Criterion
SVF licence in Singapore
EMI licence in Europe
Definition
SVF (Stored Value Facility) is mandated for enterprises engaged in the domains of electronic currency, cybernetic account administration, and oversight of virtual monies.
EMI (Electronic Money Institution) charter is for enterprises dispensing electronic currency and furnishing connected fiscal amenities.
Regulatory body
Monetary Authority of Singapore (MAS).
Different national regulatory authorities in the European Union countries.
Capital requirements
Depending on the type of licence, from S$100,000 to S$250,000; for a multi-purpose licence, the threshold limit for transactions executed is S$30 million.
Capital requirements vary from country to country, but typically start at 350,000 euros.
Receipt procedure
Requires application including business plan, financial statements, management structure and internal policies, proof of capital and AML/KYC policies.
Similar procedure
Advantages
Provides the ability to work with cryptocurrencies and e-money without circulation restrictions.
Allows cross-border payments and operation in all EU countries.
Restrictions
Strict requirements for management staff and internal policies.
Stricter regulations regarding AML/KYC and financial monitoring.
Owning an SVF licence in Singapore allows companies to undertake a variety of payment services initiatives, each with its own specific characteristics.
This activity enables companies to develop and manage electronic wallets. Such wallets allow users to electronically store, transfer and receive funds. They offer convenience as they allow financial transactions through mobile applications or online platforms. In addition, companies that have obtained an SVF licence in Singapore can issue prepaid payment cards. These cards serve as an alternative to traditional bank credit and debit cards, which is especially convenient for people without access to standard banking services or those who prefer alternative methods of managing their finances.
This service allows users to transfer money between accounts within Singapore. This can include transfers between accounts at different banks or between personal e-wallets. The purpose of such transfers is to simplify and speed up domestic financial transactions. This is especially important for businesses that can use this service to transfer funds between different partners or departments quickly and efficiently.
After obtaining an SVF licence in Singapore, fintech organisations can provide cross-border money transfer services. This is especially important for international business ventures and for people transferring money to relatives or friends outside of Singapore. Such transfers require adherence to international financial transaction rules and standards. Companies can provide convenient and reliable ways to transfer money to different countries with minimal fees and delays.
This genre of enterprise encompasses remittance handling amenities for enterprises such as internet boutiques, physical stores, and other commercial ventures. Enterprises may furnish the capability to receive remittance from patrons through a myriad of electronic methods, comprising e-wallets, bank cards, and other remittance modalities. This enables enterprises to streamline the remittance procedure for their patrons and enhance the efficacy of their fiscal undertakings.
Holders of a Depository Value Facility (DVF) license in Singapore have the authority to engage in the issuance and distribution of digital currency, which is utilized for a variety of purposes, including internet-based purchasing and financial transfers. Digital currency comprises virtual assets stored in electronic purses that are used to conduct online payments, settle accounts, and carry out other financial dealings. This provides users with convenience and safety, with businesses being required to comply with rigorous regulations to ensure the safeguarding and security of customer information.
This genre of enterprise entails handling cryptocurrencies and other virtual holdings. Enterprises might provide amenities to procure and vend virtual remittance tokens like Bitcoin, Ethereum, and other cryptocurrencies, enabling users to invest in virtual holdings and partake in the evolution of the cryptocurrency marketplace. To carry out such transactions, enterprises must adhere to pertinent regulatory directives to safeguard their security and authenticity.
SVF licence holders are also permitted to furnish currency conversion amenities in Singapore. This is notably pertinent for tourists and business voyagers who necessitate converting foreign currency to domestic currency and vice versa. Such enterprises can extend competitive conversion rates and dependable conversion amenities for patrons who aim to execute foreign currency transactions.
All these varieties of remittance amenities accessible to SVF-licensed enterprises in Singapore aid fortify the nation's fiscal framework, expedite fiscal transactions for inhabitants, and buttress the commercial milieu.
The Singapore Stored Value Facility licence allows companies to engage in a variety of financial transactions. There are several types of SVF licences, each of which provides certain rights and obligations to the holder.
Currency Exchange Licence
This form of authorization enables a firm to partake in currency conversion transactions. The possessor of this authorization can furnish conversion amenities for diverse fiscal instruments. To solicit this authorization, a firm must possess a tangible place of commerce or an enrolled office in Singapore. This form of authorization is particularly crucial for firms dispensing foreign exchange amenities to tourists, entrepreneurs, and other patrons.
SPI
Procuring an SPI mandate in Singapore enables enterprises to engage in up to seven diverse operations while maintaining specific financial boundaries. These boundaries are based on the mean monthly capability of monetary transmission transactions. There exists an upper limit of up to S$3 million for one genre of trade and up to S$6 million annually for two or more. SPI mandate holders can provide services such as monetary transmission management and e-money issuance within these boundaries.
MPI
MPI authorization possessors can participate in any of the seven specified activities beyond the SPI thresholds. For instance, if a firm's overall remittance transactions per month surpass SGD 3mn for a solitary category of amenity or SGD 6mn for several categories of amenities per annum. Digital currency enterprises with a median daily turnover exceeding SGD 5mn per year also fall within this classification.
Consequently, Stored Value Facility licensing in Singapore unveils numerous opportunities for firms in the fiscal amenities industry. Nevertheless, contingent upon the authorization chosen and the pertinent thresholds, particular categories of transactions and activities may be curtailed, thus aiding in regulating Singapore's fiscal sector and ensuring the safety and stability of the fiscal amenities provided.
Applying for an SVF licence in Singapore is a key and complex process that requires compliance with the regulations and standards set by MAS. The process involves several important steps and criteria that applicants must fulfil.
The process of obtaining an SVF licence in Singapore is complex but offers great prospects in the financial sector. Successfully obtaining a licence and operating successfully requires strict adherence to regulatory standards and safeguarding the security of financial transactions.
To successfully apply for a Stored Value Facility licence in Singapore, companies need to submit a set of documents describing their business operations and meeting all required standards and regulatory guidelines.
Given that document requirements may vary depending on the type of SVF licence and the specifics of the company's activities, it is strongly recommended to obtain professional advice to fully comply with all requirements and speed up the process of obtaining a licence.
The application process to open an SVF licence in Singapore involves several key steps:
Once all documents have been prepared, the application for a payment licence in Singapore is submitted to MAS. It is important to ensure that all documents and information are submitted completely and accurately to avoid delays in the review process.
Once the application is submitted, MAS conducts a thorough review of the information and documents provided. During this period, additional information or clarifications may be required from the applicant.
Upon successful review of the application and satisfaction of all MAS regulations, you will be issued an official licence, allowing you to legally start your e-payment business in Singapore.
Type of legal entity
Features
Limited Liability Company (LLC)
An LLC is an independent legal entity and has its own charter.
The owners (shareholders) have limited liability and are liable only to the extent of their contributions.
Joint Stock Company (JSC)
A JSC is also a separate legal entity, but with shareholders holding shares.
Shareholders are liable up to the nominal value of their shares.
Branch of a foreign company
A branch of a foreign company is an extension of a foreign organisation in Singapore.
The main enterprise (parent company) is fully responsible for the actions of the branch.
These types of legal entities offer different levels of responsibility, flexibility in management and access to financial resources. Choosing the right type of legal entity depends on your company's specific needs and objectives in obtaining an SVF licence in Singapore.
Opening a financial institution in Singapore and obtaining an SVF licence provides significant tax advantages and benefits, making this jurisdiction attractive for payment services businesses.
These tax advantages, along with transparent and effective regulation, make Singapore one of the most attractive places to open and run a financial institution, especially for those involved in providing payment services.
To wrap up our examination of the procedure for securing and managing a Stored Value Facility permit in Singapore, it's essential to highlight that this permit presents a significant chance for enterprises desiring to participate in electronic payments and fiscal amenities in this pivotal and swiftly evolving fiscal nucleus. The process of petitioning for an SVF permit in Singapore necessitates meticulous strategizing and groundwork, along with fulfilling the requisites mandated by MAS.
It is important to stress that doing business with an SVF licence in Singapore requires not only initial licensing, but also ongoing adherence to high operational standards, including transparency, protection of customer data and compliance with AML/CFT policies. This ensures trust and security for both clients and the Singapore financial system itself.
A Singapore SVF licence is therefore a valuable asset for any company looking to grow its business in the financial technology and electronic payments industry, subject to strict compliance with all regulatory requirements and standards.
Our experts are prepared to furnish exhaustive assistance and elaborate counsel at each juncture of the progression of acquiring an SVF permit in Singapore. We will equip you with the requisite intelligence and adept backing to streamline and hasten the licensure process. To make contact with our squad, kindly opt for the most expedient manner enumerated in the Reach Us division of our website. We also extend supplementary amenities, such as aid in compiling documentation and guidance on statutory conformity.
Acquiring a permit for a remuneration mechanism in Switzerland, renowned for its steadfast economy, dependable law enforcement structure, and lofty criteria in the fiscal domain, presents several perks inherent to this realm.
The Swiss economy is famous for its stability and resilience. The country is known for its neutrality in global conflicts and political disputes, which helps create a favorable environment for business. The jurisdiction's economy is focused on innovation, research and development, which makes it especially attractive for opening FinTech companies in Switzerland.
Switzerland has set high standards in the financial sector, especially in the areas of privacy and data security. These standards attract both large banks and FinTech companies seeking to ensure maximum protection of their clients' data. Swiss financial institutions are also known for their reliability and transparency, which helps attract clients from all over the world.
The Swiss pecuniary domain encompasses banks, assurance corporations, investment pools, and remuneration mechanisms. This plethora of fiscal establishments engenders myriad prospects for cooperation and novelty in fiscal amenities. Upon enrollment of a FinTech entity in Switzerland, you shall discern associates and patrons across sundry sectors of the fiscal bazaar.
The Swiss pecuniary sphere is regulated by stringent ordinances and statutes, which aid in upholding elevated benchmarks of safety and steadfastness. These benchmarks foster reliance with both patrons and overseers and aid in forestalling monetary deceit and misuse.
The Financial Market Supervisory Authority (FINMA) performs an indispensable function in the procedure of licensing pecuniary establishments in Switzerland. FINMA was established to guarantee steadiness, limpidity, and dependability of pecuniary bazaars and pecuniary amenities in the nation.
FINMA's main mission is to regulate and supervise financial markets and services in Switzerland. This includes banks, insurance companies, investment funds, payment systems and other financial institutions. FINMA sets and regulates rules and standards aimed at ensuring the safety, transparency and reliability of financial transactions.
FINMA has the authority to issue various types of licenses for financial institutions in Switzerland, including licenses for payment systems. She is also responsible for monitoring compliance with license conditions and safety standards. Financial institutions wishing to obtain a payment system license must apply and meet the strict requirements of FINMA.
FINMA takes preventive measures to prevent financial crises and problems. It also responds to financial crises by taking the necessary steps to stabilize the situation and protect the interests of clients and the market.
FINMA actively cooperates with international financial regulators and organizations, which contributes to the harmonization of international standards and the exchange of information on financial transactions. This helps prevent financial crimes and ensure compliance with global financial standards.
The Financial Markets Authority plays a key role in licensing and regulation of financial institutions in Switzerland. Its activities are aimed at ensuring the stability and reliability of financial markets and services, protecting the interests of clients and investors, and promoting the development of innovation in the financial sector. This makes Switzerland one of the most attractive destinations for financial institutions, including FinTech companies.
There are several types of financial licenses in Switzerland, each of which is designed to regulate different types of financial activities. It is important to understand the differences between these types of licenses as they impose unique requirements and restrictions on financial institutions.
Obtaining a license for asset management in Switzerland gives the company the right to participate on Swiss stock exchanges and conduct transactions with financial instruments. It regulates activities related to trading in securities, bonds and other financial instruments on the stock exchange. This license implies compliance with high standards of liquidity and transparency.
Opening andinvestment license in Switzerland allows the firm to provide investment services to clients. This may include asset management, investment advice and other financial advice. Entities with an investment license are required to adhere to strict professional standards and provide clients with clear information about risks and opportunities.
Registration bAnkovsky license in Switzerland allows the company to carry out banking activities. This includes accepting deposits, issuing loans, managing financial assets and other banking activities. Obtaining a banking license requires compliance with high standards of capitalization, level of security and financial stability.
The crypto license regulates the activities of companies involved in cryptocurrencies and blockchain technologies. It provides the right to conduct transactions with cryptocurrencies and provide cryptocurrency services in Switzerland. Such organizations are required to comply with anti-money laundering measures and comply with cryptocurrency legislation.
Obtaining a fintech license in Switzerland V allows you to provide a variety of financial services using innovative technologies. It may include electronic payments, mobile applications for financial management, online lending and other modern financial products and services.
Each of these licenses has its own unique requirements for capitalization, transparency, security and level of control. The choice of the appropriate license depends on the type of activity that the financial institution plans to carry out in Switzerland. Regardless of the license chosen, all financial institutions are subject to strict supervision by FINMA to ensure compliance with regulatory requirements and standards.
To obtain a license for a payment system in Switzerland, there are a number of general conditions and requirements that must be met. The main one is registration in the Swiss Commercial Register.
General terms
Company status and registration
The company claiming obtaining a financial license in Switzerland, must be registered in this jurisdiction. This means that the company must have a registered office in Switzerland and must have significant business operations in that jurisdiction.
Good Governance
Companies must demonstrate that they have adequate governance, including effective risk management structures and procedures to combat money laundering and the financing of criminal organizations.
Initial capital and deposit requirements for opening a payment system license in Switzerland include the following:
These capital requirements and deposit limits reflect strict Swiss regulatory approach to financial services. They are designed to ensure financial stability and protect the interests of depositors, as well as to prevent financial risks and abuse.
The process of obtaining a license for a financial institution in Switzerland, is detailed and requires the preparation of extensive documentation.
The first and one of the most important steps in the process is developing a detailed business plan. A business plan should include a description of your financial organization, its goals, development strategy and financial forecasts for several years in advance. This document must convincingly demonstrate financial strength and the ability to comply with FINMA requirements.
For opening a license for a financial organization in Switzerland VYou must provide complete and accurate financial statements about your organization's financial position. This includes the balance sheet, income statement, cash flow statement and other financial data. FINMA requires that your financial institution has sufficient capital to ensure the soundness and sustainability of its activities.
You must provide a detailed description of the transactions your financial institution intends to perform. This includes a description of the services provided, the target customer audience, cooperation with other financial institutions and even detailed processes for preventing money laundering and combating financial fraud.
Also for registration of a payment system in Switzerland you may need to provide dAdditional documents such as corporate bylaws, company ownership and management documents, contracts with auditors and other documents that may also be required to apply for a license.
Submitting documents to FINMA involves a rigorous process that requires careful adherence to deadlines and requirements. The regulator may request additional documents or information for a more in-depth analysis of your company.
Acquisition of a company with an existing payment license in Switzerland may be an attractive option for entrepreneurs who want to quickly enter the market and start providing financial services.
The first step is to find a company that has a valid payment license and aligns with your business goals and strategy. This may include searching the market, working with brokers or agents to deal with companies.
Once a suitable company has been found, it is necessary to conduct a thorough analysis of its financial condition, operations, corporate structure and risks. This will help you understand how the company fits your business plans and estimate its value.
If the results of the analysis are satisfactory, you can proceed to the stage of signing an agreement on purchasing a company in Switzerland. This is a legally binding document that defines the terms of the transaction, including the purchase price, terms, payment terms and other important aspects.
To acquire a company, financing will likely be required. You can use your own funds, turn to investors, or use loans to finance the transaction.
Acquisition of a company with a payment license in Switzerland may require approval from a regulator such as FINMA. You must provide the necessary documentation and information about the transaction to the regulator and wait for its approval.
Once all necessary approvals have been received and the financing of the transaction has been completed, you can complete the acquisition of the company. This includes the transfer of ownership, resources and control.
Purchase of a ready-made company with a payment license in Switzerland has its pros and cons that should be taken into account when making a decision:
Advantages:
Flaws:
Purchase of a ready-made company with a payment license in Switzerland is a complex decision that depends on your financial capabilities, business strategy and the risks you are willing to accept. Regardless of your choice, it is important to conduct careful analysis and consult with professionals to make an informed decision.
Obtaining a license for a payment system in Switzerland is a complex but important process that opens the door to participation in the attractive and stable financial market of this country. Switzerland is known for its reliability, stability and high standards in the financial sector, making it an attractive destination for FinTech organizations and payment institutions.
The Financial Markets Authority plays a key role in licensing and regulation of financial institutions in Switzerland, ensuring high standards of security and transparency.
There are several types of financial licenses in Switzerland, including EMI and light banking licenses, each of which provides unique opportunities and requirements. Selecting the appropriate license depends on the organization's strategy and business model.
Experts from our organization are ready to provide all the necessary information and full support during opening a payment system license in Switzerland. You can choose a convenient communication method in the “Contacts” section.
A permit to furnish remittance amenities in the UAE is granted pursuant to the novel United Arab Emirates Electronic Payments Ordinances (EPSR), which was embraced comparatively recently by the UAE governance. Below the clauses of the Ordinance, four classifications of remittance utility furnishers may be licensed in the UAE:
Acquiring a PSP permission in the UAE is achieved through the UAE Central Bank, situated in Abu Dhabi. The lone anomaly in this instance is for UAE-licensed mercantile banks, which might be sanctioned under a streamlined plan.
Concerning the remuneration structure licensure regimen in the UAE, there are specific requisites pertinent to all quadrants.
The principal prerequisite for an aspirant for a remuneration schema authorization in the Emirates is that the aspirant must demonstrate that their enterprise falls within one of the quadruple delineated classifications above. Furthermore, the aspirant must be situated in the Emirates, or in one of the autonomous regions (the exemption pertains to entities from pecuniary autonomous regions).
It will moreover have to persuade the Central Bank that the petitioner possesses the pertinent acquaintance and proficiency to proffer electronic remittance amenities in the way demanded.
A supplicant for a PSP privilege in the UAE is likewise obliged to fulfill specific minimal pecuniary requisites:
Among other articles, granting a concern to furnish pecuniary amenities necessitates adherence to consumer enrolment prerequisites, encompassing acquaintance-your-client operations. The concern must additionally satisfy duties directed at thwarting capital washing and deceit, as well as guaranteeing the safeguard and lucidity of dealings.
Among sundry matters, a PSP authorization in the Emirates shall necessitate the execution of specific consumer safeguarding security measures, encompassing:
It is also important to note that a company applying for a PI licence in the UAE will need to comply with data protection and privacy obligations that include, among other things:
Confidential information can only be provided to regulators with the authorisation of the central bank or a UAE court order.
All information provided above is published for informative purposes and should not be taken as legal advice or recommendations for action. Please note that obtaining a payment institution licence in the UAE is a complex process that requires a responsible approach and reliable support.
If you have any questions regarding the need to licence a payment system in the Emirates, IQ Decision's experts are ready to provide comprehensive legal advice on obtaining an Emirates PI-licence.
In addition, our experts provide support services at all stages of obtaining a licence, are ready to help you gather a package of documents for a PSP-licence in the UAE, register a company in the Emirates, and provide other related legal services.
To find out more details about our services, or to book a consultation with a lawyer on licensing of payment institutions in the UAE, you can fill in the feedback form, or contact us right now at the contacts below.
