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EMI License in Estonia

Estonia offers many business opportunities that allow companies in this country to grow and increase their capital. One of them is electronic money services: by obtaining a license, entrepreneurs can operate throughout the European Union. Estonia also has a simplified tax system — the corporate tax rate is 20%, and retained earnings are not taxed at all.

To legally operate in the EU, companies need an electronic money license: in Estonia, this permit is called the Electronic Money Institution (EMI) License. Once obtained, companies are allowed to issue their own virtual currencies, including cryptocurrencies.

A company engaged in various electronic money operations can gain access to cooperation with almost 500 million customers and 20 million companies. This is one of the main reasons why legal entities seek to obtain an Estonian EMI license.

Steps

01

Company Registration in Estonia

A local company must be registered, under which the license will later be issued. This requires selecting a company name, specifying participants, and submitting their documents.

02

Opening a Bank Account

The company must open a bank account to deposit the share capital. Account opening is a complex process that should be entrusted to professionals. It requires preparing a package of documents and conducting negotiations properly.

03

Share Capital Contribution

The exact size of the share capital depends on the type of license. If necessary, the beneficiary must provide documents confirming the source of funds contributed as share capital.

04

Hiring Mandatory Staff

The company must employ staff for key positions, some of whom must be local. We assist with the search and selection of employees.

05

Renting an Office

One of the mandatory requirements is renting an office. We will select a cost-effective option that meets the requirements.

06

Preparing Documents for License Application

A business plan and policies must be prepared. Application forms must also be completed. The client only needs to provide basic information, based on which we will prepare the documents in compliance with local legislation.

07

Submitting the Application

Once the company and documents are ready, the application must be submitted to the regulator. After submission, be prepared to answer additional questions from the regulator. We will ensure timely and professional responses.

08

Obtaining the License

After successfully completing the previous stages, the company receives the license. However, it must begin operations within six months of receiving the license; otherwise, the license may be revoked.

What opportunities does an electronic money license in Estonia provide?

By obtaining this permit, you will be legally entitled to:

  • issue your own electronic currency;
  • provide various payment services to clients;
  • create and maintain payment systems;
  • carry out other services related to the company’s operations (including those not directly connected to electronic money).

Electronic money license in Estonia: application requirements

All applicants must meet several conditions set for this type of licensing. Specifically, you must:

  • register a company in Estonia;
  • provide proof of a share capital of at least €350,000;
  • prepare a relatively large package of documents required for licensing: company charter, business plan, description of technical security measures for funds, and others.

You can clarify the full list of documents required to obtain an electronic money license in Estonia during a consultation call. We will also provide detailed information regarding the requirements and conditions that apply to your specific company.

Contact us if you want to quickly and easily obtain a license for a company engaged in issuing and servicing electronic money. We will provide legal advice, handle document preparation, and assist at every stage of the licensing process.

Free initial consultation on legal issues, related to the daily activities of the business

Additional services

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E-Money license Lithuania

Financial institutions planning to provide services related to the issuance and turnover of electronic money in the European Union must have an EMI license. This is a requirement of the EU directive 2015/2366. An EMI (Electronic Money Institution) license is a legal document issued by a designated regulatory authority.

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E-Money license Malta

The Republic of Malta is one of the top three countries by the number of issued EMI licenses. Increased interest in this jurisdiction and the status of e money license Malta is caused by certain factors, among which are the single European passport, tax preferences, loyal attitude to foreign investors, and all-round active government support to suppliers and users of financial services.

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E-Money license UK

The United Kingdom continues to be one of the top jurisdictions for obtaining an EMI (Electronic Money Institution) financial license. Please note that this permission is a prerequisite for legal activities related to the growing popularity of electronic payments.

learn more

Frequently Asked Questions:

To obtain an EMI license in Estonia, you must prepare a business plan, AML policy, and other documents, register a company, and hire professionals for mandatory positions (director, AML officer, etc.). Essential elements also include a bank account and paid share capital.
To obtain an EMI license in Estonia, you must provide: the company’s statutory documents, copies of passports and CVs of its participants, a business plan, AML policy, and other documents. The exact list of required documents will depend on the specifics of your future activity, and can be clarified with our specialists.
The final cost of obtaining an EMI license in Estonia depends on various factors (the region of the future payment system’s operations, projected turnover, etc.). You can find out the exact cost of obtaining an EMI license in Estonia by consulting our specialists.
The timelines depend on how quickly company participants provide documents, whether staff must be hired, opening a bank account, contributing share capital, and the regulator’s review of the application. The approximate timeframe for obtaining a license is 6 months.

Contact
info

+85281926676

info@incluence.net

Rm 7B, One Capital Place, 18 Luard Road, Wan Chai, Hong Kong

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