European Electronic Money Institutional Regulation 2025

In recent years, the electronic money market in Europe has developed rapidly, attracting the attention of regulators and legislators. The regulation of electronic money institutions in the EU is regulated by the Electronic Money Directive (2009/110/EC) and the Second Payment Directive PSD2 (Directive (EU) 2015/2366), which aims to ensure payment security and consumer protection. In this article, our lawyers will introduce the key regulatory aspects of electronic money institutions in Europe, including licensing requirements, share capital and application process.

License Requirements

Companies need to obtain an Electronic Money Institution (EMI) license to start operating in the e-money space. Obtaining such a license requires companies to meet a number of conditions, including:

• Submit a business plan: A business plan detailing the proposed activities, risk management system, administrative structure and projected financial flows.

• Management Team: Demonstrate that the management team has the necessary experience and qualifications.

• Anti-Money Laundering (AML) Measures: Implement effective procedures and systems to prevent money laundering and terrorist financing.

• The minimum authorized capital of a European electronic money institution is €350,000. This capital must be paid in full when applying for a license.

Application review process

After submitting the application and all necessary documents, the regulator begins the review process. This process can take between 3 and 12 months, depending on the country, the completeness and quality of the submitted documents, and the specifics of the declared activities. During this period, the regulator may request additional information or clarifications. The regulation of European electronic money institutions aims to create a safe and transparent environment for electronic payments while protecting consumer interests. At the same time, the regulator is committed to supporting innovation and competition in the market. Companies looking to enter this fast-growing field must carefully prepare for the licensing process, ensuring that all requirements and regulatory standards are met. Successfully obtaining an EMI license provides companies with a wide range of opportunities to develop and expand in the European electronic money market.

Regulation of electronic money institutions in Lithuania

In recent years, Lithuania has actively established itself as one of Europe's leading hubs for the fintech industry, including electronic money institutions. The country offers a favorable regulatory environment designed to stimulate innovation and attract international companies.

Regulatory environment

The Bank of Lithuania (Lietuvos bankas) is the main regulator responsible for issuing licenses to electronic money institutions. Regulation is based on the EU Electronic Money Directive (2009/110/EC) and imposes strict operational and risk management requirements.

License Requirements

In order to set up an e-money business in Lithuania, a company must meet the following basic requirements:

• Authorized capital: The minimum authorized capital for setting up an e-money company is EUR 350,000.

• Business Plan: A detailed business plan, including risk assessment and risk management strategy, is required.

• Management Structure: The company should demonstrate a clear organizational structure with defined areas of responsibility and have adequate risk management policies.

• AML Programs: Implement effective AML and terrorist financing programs.

Application submission and review process

The application process includes preparation and submission of the necessary documentation package to the Bank of Lithuania. After the application is submitted, the regulator conducts a thorough analysis of the submitted information and documents.

• Application Processing Time: Standard application processing time is 3 to 6 months, depending on the completeness and complexity of the submitted documents.

• Inspection and audit: During the review process, the Bank of Lithuania may request additional documents or arrange a meeting with company representatives to clarify information.

Conclusion

Lithuania offers attractive conditions for e-money institutions due to its strategic geographical location, developed fintech infrastructure and supportive regulatory environment. Complying with the above requirements and paying careful attention to the application process greatly increases the company's chances of successfully obtaining a license and developing e-money business in the European market.

Regulation of electronic money institutions in the UK

The UK has long been one of the global centers of financial innovation, especially in the fields of fintech and electronic money institutions. Electronic money institutions in the UK are regulated by the Financial Conduct Authority (FCA – Financial Conduct Authority), which sets strict standards to ensure the transparency, security and soundness of financial services. In this article, we will look at the key regulatory aspects of electronic money institutions in the UK, using business language and business communication style.

License Requirements

To start operating as an electronic money institution in the UK, you must obtain an appropriate license from the FCA. This requires the company to meet the following conditions:

• Share capital: The minimum amount of share capital depends on the type of licence requested. A minimum of £350,000 is required to apply for a full EMI (Electronic Money Institution) licence.

• Business Plan and Financial Forecast: Detailed business plan including business model description, financial forecasts, risk analysis and mitigation strategies.

• Policies and Procedures: Develop and deliver policies and procedures, including Anti-Money Laundering (AML) measures and customer data protection compliance.

• Management Team: Demonstrate the competence and reliability of the management team and key personnel responsible for the running of the organization.

Application submission and review process

• Application: Submit a license application through the FCA’s online portal, providing all necessary documents and information.

• Processing Time: The processing time for an EMI license application can vary but is usually between 3 to 6 months, depending on the completeness and complexity of the documents submitted.

• Assessment and verification: During the review process, the FCA conducts a detailed assessment of the information provided and may request additional data or clarification.

Conclusion

Obtaining an electronic money institution license in the UK is a complex and rigorous process that requires careful preparation and attention to detail. Complying with the FCA's regulatory requirements and standards ensures that electronic money institutions can provide services with a high level of security and reliability, thereby enhancing consumer confidence and maintaining the stability of the UK financial system.

Regulation of electronic money institutions in the Netherlands

The Netherlands, like many other countries in the EU, aims to ensure the safe use of electronic money while providing a favorable environment for innovation and development in the fintech industry. The Netherlands' electronic money institution is controlled by De Nederlandsche BankDNB) and the Dutch Financial Market Authority (Autoriteit Financiële Markten, AFM), which together ensure compliance with national and European regulations.

License Requirements

In order to start operating as an e-money institution in the Netherlands, you need to obtain the appropriate license from the Dutch National Bank (DNB). The licensing process involves demonstrating that the following basic requirements can be met:

• Authorized capital: The minimum authorized capital for establishing an e-money company in the Netherlands is €350,000.

• Business Plan: Provide a detailed business plan including a description of services provided, market analysis, marketing strategy, financial forecasts, and risk assessment.

• Management Structure and People : Qualified management and staff with relevant experience and reputation.

• Anti-Money Laundering (AML) and Terrorist Financing Measures: Develop and implement effective AML programs and controls.

Application and Review Process

• Application: Application for a license is submitted through the Dutch National Bank online platform, along with all the required documents and information.

• Processing time: The standard processing time for an application for an Electronic Money Institution License is 3 to 6 months, depending on the complexity of the application and the completeness of the information provided.

• Evaluation and verification: During the review process, the Dutch National Bank and the Netherlands Authority for the Financial Markets (AFM) conduct a detailed analysis of the information provided, including the company's financial stability, business model, risk management system and AML procedures. The regulator may request additional information or arrange a meeting with the applicant to clarify details.

Conclusion

Obtaining an electronic money institution license in the Netherlands is a complex process that requires careful preparation and strict compliance with regulatory requirements. The Netherlands provides a favorable environment for fintech companies, emphasizing the importance of innovation in the financial industry while ensuring the level of consumer protection and the stability of the financial system. Companies that wish to operate in the Dutch electronic money industry should pay special attention to preparing for the licensing process in order to successfully enter this promising market.

EMI regulations in Cyprus

As a member of the European Union, Cyprus strictly abides by European directives and regulations, including those in the field of electronic money. Electronic money institutions in Cyprus are regulated by the Central Bank of Cyprus (CBC) under the EU Electronic Money Directive (2009/110/EC).

License Requirements

To start operating as an electronic money institution in Cyprus, you must obtain a license from the Central Bank of Cyprus. The main requirements include:

• Authorized capital: The minimum authorized capital for establishing an electronic currency is 350,000 EUR.

• Business Plan: Provide a detailed business plan, including a description of the services provided, market analysis, risk management strategies, and financial flow forecasts.

• Management Structure: Demonstrated adequate management structure and leadership experience to ensure the health and efficient operation of the organization.

• AML/CFT Policy: Develop and implement policies and procedures on anti-money laundering and combating terrorist financing.

Application and Review Process

• Application: Submit a license application to the Central Bank of Cyprus, including all required documents and information.

• Processing Time: The standard processing time for applications is 3 to 6 months. However, this time may vary depending on the completeness and complexity of the documents submitted.

• Additional requirements: During the review process, the central bank may request additional documents or clarifications.

Conclusion

Obtaining an Electronic Money Institution license in Cyprus requires careful preparation and strict compliance with regulatory requirements. Cyprus offers a favorable legal and tax environment for fintech companies, as well as access to the EU market, making it an attractive choice for many international electronic money players. Companies looking to take advantage of these opportunities should pay special attention to preparing for the licensing process in order to successfully enter the financial industry in Cyprus.

EMI regulations in Poland

In recent years, Poland has actively developed the fintech sector, aiming to become one of the leaders in innovative fintech in Central and Eastern Europe. Electronic money institutions in Poland are regulated in accordance with the European Electronic Money Directive (2009/110/EC) and local financial services legislation. The Financial Supervision Commission plays a key role in the licensing and supervision of electronic money institutions (KNF – Komisja Nadzoru Finansowego).

License Requirements

In order to carry out the activities of an electronic money institution in Poland, it is necessary to obtain a license by fulfilling the following requirements:

• Business Plan: Provide a detailed business plan including a business description, risk assessment, marketing strategy, and financial projections.

• Management Structure: Demonstration of an effective management structure and competent management with a clean business reputation.

• AML Procedures: Develop and implement anti-money laundering and counter-terrorist financing policies and procedures.

Application and Review Process

• Application: Submit a license application to the Financial Supervisory Commission along with all required documents.

• Processing Time: The standard processing time for applications is 3 to 6 months. However, this period may vary depending on the complexity and completeness of the documents submitted.

• Additional Requests: During the review process, the KNF may request additional information or schedule a meeting to discuss the details of your application.

Conclusion

Poland offers a favorable environment for the development of electronic money institutions, with clear regulatory requirements and active support for innovation in the fintech sector. Obtaining a license requires adequate preparation and strict compliance with all regulatory standards. Successfully overcoming this process enables businesses to enter Poland's vibrant financial services market and contribute to the advancement of the country's digital economy.

EMI regulations in Sweden

In Sweden, one of the world's leading financial technology developers, the supervision of electronic money institutions is carried out by the Swedish Financial Supervisory Authority (Finansinspektionen). The regulations introduced are intended to ensure the stability of the financial system, protect consumer rights and prevent financial crime.

License Requirements

In order to obtain an e-money license in Sweden, a company must meet the following basic requirements:

• Business Plan: A detailed business plan should be submitted describing the proposed activities, including the intended e-money transactions, risk assessment and risk management mechanisms.

• Management Structure: The company should have a clear organizational structure, clear division of responsibilities, and adequate internal controls and risk management procedures.

• AML/CFT Policy: Policies and procedures should be developed and implemented to prevent the company from being used for money laundering and terrorist financing purposes.

Application and Review Process

• Application: Submit a license application to the Swedish Financial Supervisory Authority together with all necessary documents and information.

• Processing Time: The standard processing time for applications is 3 to 6 months. However, this time may vary depending on the complexity and completeness of the documents submitted.

• Additional requirements: During the application process, the Financial Supervisory Authority may request additional documents or clarifications to fully understand the company's business model and operations.

Conclusion

Sweden offers a favorable environment for the development and growth of e-money institutions, thanks to its innovative economy and progressive regulation. Complying with licensing requirements and successfully completing the application process provides companies with opportunities to conduct e-money business in the Swedish market. However, in order to meet the high standards set by the Swedish Financial Supervisory Authority, careful preparation is required, focusing on the development of a business plan, management structure and anti-money laundering and counter-terrorist financing policies.

German EMI regulations

In Germany, one of Europe's leading economies, the supervision of electronic money institutions strictly follows European standards and directives to ensure the level of consumer protection and the stability of the financial system. Electronic money institutions are regulated by the Federal Financial Supervisory Authority (BaFin – Bundesanstalt für Finanzdienstleistungsaufsicht), which requires strict compliance with regulatory requirements and has high licensing requirements.

License Requirements

In order to operate an electronic money institution in Germany, a license must be obtained from BaFin. The main requirements for obtaining a license include:

• Authorized capital: The minimum authorized capital for establishing an e-money company must be at least EUR 350,000.

• Business Plan: A detailed business plan should be submitted, including a description of the proposed activities, market analysis, financial forecasts, and risk assessment.

• Management Structure: The company should demonstrate a sound management structure, clear division of responsibilities and adequate risk management policies.

• AML Programs: Develop and implement effective Anti-Money Laundering (AML) and Countering Terrorist Financing programs.

Application and Review Process

• Application: An application for a license should be submitted to the BaFin together with all necessary documents and proof of compliance with the above requirements.

• Processing Time: Applications are typically processed within 6 to 12 months, depending on the completeness and complexity of the documents submitted.

• Additional inquiries: During the review process, BaFin may request additional information or arrange a meeting with company representatives to discuss the details of the application.

Conclusion

Establishing regulation for e-money in Germany is a complex and multi-stage procedure that requires careful planning and strict compliance with regulatory requirements. Obtaining a license from BaFin is a key step in conducting e-money business, providing companies with the opportunity to tap into Europe's largest and most developed financial market. Successful applicants must not only demonstrate a financially sound and transparent business model, but also a high level of responsibility in terms of risk management and regulatory compliance.

EMI regulations in Spain

In Spain, the regulation of electronic money institutions is determined by national and European legislation. Regulation aims to ensure the stability of the financial system, protect consumer rights and prevent financial crimes such as money laundering and terrorist financing.

Permission Process

To start operating as an e-money institution in Spain, it is necessary to obtain the relevant license from the Spanish National Securities Market Commission (CNMV) or the Bank of Spain, depending on the specific nature of the activity. The application process includes submitting a detailed business plan, a description of the risk management system and control procedures, and confirming compliance with regulatory capital and liquidity requirements.

Applicant requirements

Applicants must demonstrate their financial strength, adequate organizational structure, professional and reliable management and the ability to comply with regulatory requirements for electronic money activities. Attention is also paid to data protection systems and measures to combat money laundering and terrorist financing.

Amount of authorized capital required

The amount of the minimum authorized capital of a Spanish electronic money institution depends on the scope of the planned activities, but according to European regulations it must not be less than €350,000. This capital is necessary to ensure the financial stability of the institution and to be able to cover start-up costs and potential losses.

Application processing time

The time required to process a license application varies depending on the complexity of the application and the current workload of the regulatory agency. Typically, the entire process can take 3 to 6 months from the date all necessary documents are submitted to completion. It is important to note that timely and complete submission of all required information and documents significantly speeds up the review process.

Conclusion

Entering the Spanish e-money market requires careful planning and preparation, including developing a solid business plan and ensuring compliance with strict regulatory requirements. Successfully obtaining a license not only allows e-money institutions to enter the country's dynamic financial sector, but also provides significant opportunities for growth and development. The key success factor lies not only in obtaining a license, but also in maintaining a high level of operational standards, including the quality of customer service and the security and soundness of financial transactions.

EMI regulations in Italy

Electronic money institutions in Italy are regulated by the European Electronic Money Directive (2009/110/EC) and national legislation, in particular those issued by the Bank of Italy. These regulations aim to ensure market stability and transparency, protect consumers and prevent financial crime. In order to operate in the e-money space in Italy, companies need to obtain a license, comply with a series of requirements and maintain a certain level of share capital.

Permission Process

In order to obtain a license, an electronic money institution must submit an application to the Bank of Italy, including a detailed business plan, a description of the risk management system, information on managers and owners, and evidence of compliance with regulatory requirements for share capital. The Bank of Italy will analyze the application to ensure that the established criteria are met, including the applicant's financial strength, the reputation and experience of the management team, and the adequacy of systems and controls to prevent financial crime.

Applicant requirements

The main requirements for applicants include:

• Have a well-structured business plan that demonstrates the viability of the business.

• Comply with regulatory requirements for risk management and internal controls.

• Proven professionalism and reliability of managers and key staff.

• Take appropriate measures to combat money laundering and terrorist financing.

Amount of authorized capital required

The minimum authorized capital of an Italian electronic money institution is €350,000. This capital is used to cover initial operating costs and as a financial cushion to cover potential losses. Depending on the scope of activities and risk assessment, the capital amount may be adjusted upwards.

Application processing time

The processing time for an Italian Electronic Money Institution License application can vary, but is generally 3 to 6 months after the complete set of documents has been submitted. The processing time depends on the quality of the submitted documents and the current workload of the Bank of Italy. Submitting all necessary information and documents completely and accurately helps speed up the review process.

Conclusion

Setting up an e-money business in Italy requires careful preparation and strict compliance with regulatory requirements. This includes developing a detailed business plan, ensuring adequate authorized capital and demonstrating an effective risk management system. Successful completion of the licensing process enables companies to enter Italy’s dynamic e-money market, gaining significant opportunities for growth and development in the financial sector.

French EMI regulations

In France, the regulation of electronic money institutions is strictly defined and supervised by French financial regulators, specifically the Autorité de Contrôle Prudentiel et de Résolution (ACPR), which operates under the supervision of the Bank of France. These regulations include the need to obtain a license, meet certain share capital requirements, and comply with procedures designed to protect consumers and ensure the stability of the financial system.

Permission Process

To start operating as an electronic money institution in France, you must obtain a license from the ACPR. The application process involves preparing and submitting multiple documents, including a detailed business plan, a description of the risk management system, information on the executive and management teams, and proof of sufficient authorized capital. Applicants must also demonstrate their ability to comply with legal and regulatory requirements, including anti-money laundering and counter-terrorist financing measures.

Applicant requirements

Institutions seeking licensure must meet the following requirements:

• Have a clear and realistic business plan covering financial projections and development strategies.

• Demonstrate management's reliability and professionalism.

• Establish an effective risk management system and internal control.

• Take appropriate measures to prevent money laundering and terrorist financing.

Amount of authorized capital required

The minimum authorized capital of a French electronic money institution depends on the volume of its business, but should generally be at least €350,000. This capital is necessary to ensure the financial stability of the institution during its start-up period and as a protection against potential financial risks.

Application processing time

The processing time for an electronic money institution license application in France can vary, but generally takes between three and six months. The processing time depends on the completeness and quality of the documents provided, as well as the ACPR's current workload. Careful preparation and comprehensive submission of all required documents can help speed up the process.

Conclusion

Obtaining a license to operate as an e-money institution in France requires considerable effort and strict compliance with regulatory requirements. This includes preparing a detailed business plan, securing adequate equity and demonstrating the ability to effectively manage risk and comply with regulatory standards. Successfully obtaining a license opens the door to the French e-money market, providing institutions with the opportunity to grow and develop in a strictly regulated but promising environment.

EMI regulations in Ireland

Due to its strategic location and favorable tax system, Ireland has attracted many electronic money institutions looking to do business within the EU. The regulation of electronic money institutions in Ireland is subject to European directives and local legislation, with the Central Bank of Ireland – the CBI – playing a key role in regulation and supervision.

Permission Process

In Ireland, electronic money institutions need to obtain a license from the Central Bank of Ireland to operate. The application process involves preparing and submitting a comprehensive set of documents, including a detailed business plan, proof of financial strength, a description of the risk management system, key management personnel and beneficial owners information, and a compliance program, including anti-money laundering (AML) and counter-terrorist financing (CFT) measures.

Applicant requirements

Institutions applying for a licence must meet a number of criteria set out by the Central Bank of Ireland, including:

• Demonstrate a clear organizational structure and adequate internal controls.

• The existence of sufficient and appropriate levels of authorized capital.

• Prove the professionalism and reliability of management personnel.

• Ability to effectively manage risks, including credit, market, operational, liquidity and capital risks.

Amount of authorized capital required

The minimum authorized capital of an electronic money institution in Ireland is €350,000. This capital is intended to ensure that the institution is financially sound and can meet current and future liabilities.

Application processing time

The time taken to process an application for an Electronic Money Institution License may vary, but generally takes between three and six months following submission of complete and correct documentation. The timeline may be extended, depending on the complexity of the application and the current workload of the Central Bank of Ireland.

Conclusion

Obtaining an Electronic Money Institution license in Ireland requires careful preparation and strict compliance with regulatory requirements. Successful applicants must demonstrate financial strength, effective risk management and a commitment to high operating standards. Obtaining a license opens the door to EU markets and provides significant opportunities for growth and development in the electronic money industry.

EMI regulations in Malta

Malta is actively developing its financial industry and aims to become Europe's leading center for financial technology and innovation. Electronic money institutions in Malta are regulated in accordance with European directives and local legislation, with the Malta Financial Services Authority, MFSA, playing a key role in licensing and supervision. Malta's regulatory environment aims to ensure the stability and integrity of the financial system and protect the interests of consumers.

Permission Process

To start operating as an electronic money institution in Malta, you must obtain a license from the MFSA. The application process involves preparing an extensive application package, which must include a detailed business plan, a description of internal procedures and policies, management information, and evidence of compliance with authorized capital and financial stability requirements. Applicants must also demonstrate their risk management systems and their ability to comply with anti-money laundering and counter-terrorist financing prevention requirements.

Applicant requirements

The main requirements for applicants include:

• Have a clear and realistic business plan that describes proposed operations, market strategy, and financial projections.

• Transparent organizational structure with clear division of responsibilities and authority.

• Sufficient and adequate authorized capital to support entrepreneurial activities and cover risks.

• Effective risk management systems and procedures, including credit, operational, market, liquidity and capital risks.

• Measures to prevent money laundering and terrorist financing.

Amount of authorized capital required

The minimum share capital amount of a Malta electronic money institution depends on the type of license and the scope of the proposed activities. Generally speaking, the amount is usually €350,000 for entry-level activities. This capital should be sufficient to cover all risks and liabilities involved in the institution’s activities.

Application processing time

The processing time for a license application in Malta is typically three to six months, depending on the complexity of the application and the MFSA’s current workload. Timely and complete submission of all required documents and information can significantly expedite the review process.

Conclusion

Electronic money institutions wishing to operate in Malta should strictly comply with regulatory requirements and demonstrate their ability to effectively manage risks and ensure financial stability. Successfully obtaining a license will open the door to a dynamic electronic money market with an attractive regulatory and tax regime, providing significant opportunities for growth and expansion.

Luxembourg EMI regulations

As one of Europe's leading financial centers, Luxembourg provides a favorable environment for the development of electronic money institutions. Supervision of these institutions in Luxembourg is by the Commission de Surveillance du Secteur Financier (CSSF), which strictly follows European directives and local legislation. This supervision aims to ensure financial market stability, protect consumers, and prevent financial crime.

Permission Process

To operate in Luxembourg, electronic money institutions need to obtain a license from the CSSF. The application process requires detailed preparation and includes the submission of a comprehensive set of documents: a detailed business plan, a description of the risk management system, key management personnel and beneficiary information, and evidence of compliance with regulatory capital and financial strength requirements. Applicants must also demonstrate their ability to comply with legal and regulatory requirements, including anti-money laundering (AML) and counter-terrorist financing (CFT) measures.

Applicant requirements

Applicants must meet the following requirements:

• Have a clear and robust business plan including financial projections and growth strategies.

• Transparent organizational structure and adequate internal controls.

• Sufficient authorized capital to support entrepreneurial activities and be able to cover risks.

• Policies and procedures to ensure compliance with anti-money laundering and counter-terrorist financing legislation.

Amount of authorized capital required

The minimum authorized capital of an electronic money institution in Luxembourg is €350,000. This capital requirement ensures that the institution is financially sound and can meet liquidity and operational requirements.

Application processing time

The processing time for an electronic money institution license application in Luxembourg varies, but on average takes between three and twelve months, depending on the complexity of the application and the current workload of the CSSF. It is important to note that the completeness and quality of the documents provided can significantly affect the speed of the application.

Conclusion

In order to successfully obtain a license and start business, electronic money institutions in Luxembourg need to make thorough preparations and ensure compliance with all regulatory requirements. Luxembourg offers an attractive regulatory environment and access to the European market for electronic money institutions, making it an ideal location for many fintech companies. In this jurisdiction, the licensing process must be approached with caution and professionalism to ensure the successful development of business here.

PI Regulation 2025 in Europe

European PSP/PISP regulations

In Europe, the regulation of payment service providers is a key component in ensuring the safety, security and efficiency of the region's payment systems. This regulation is carried out at the European Union (EU) level and includes a series of directives and regulations aimed at creating a single market for payment services. The Electronic Money Directive (EMD) and the Payment Services Directive (PSD2) are the basis for regulation, setting out requirements in areas such as licensing, risk management, consumer protection and anti-money laundering.

Permission Process

In order to start operations, payment service providers must obtain a license from the national regulator of the EU member state in which they plan to operate. The application process involves preparing and submitting an extensive set of documents demonstrating that the company meets the regulator's requirements. Key elements include a business plan, risk management policy, internal control system, information on management and founders, and evidence of financial stability.

Applicant requirements

Payment service providers must demonstrate:

• Clear organizational structure and adequate risk management procedures.

• Have qualified management and meet the requirements of good reputation.

• Able to protect customer funds and provide a high level of security for payment transactions.

• Comply with anti-money laundering and counter-terrorist financing requirements.

Amount of authorized capital required

The minimum authorized capital amount for a payment service provider depends on the type of services provided and can range from EUR 20,000 to EUR 125,000. For larger operators that provide a variety of payment services, the capital requirement may be significantly higher.

Application processing time

The processing time for a licensing application varies by country and regulatory agency, but on average is 3 to 12 months. Efficient preparation and completeness of submitted documents can shorten processing time.

Conclusion

Obtaining a payment service provider license in Europe requires careful preparation and strict compliance with regulatory requirements. This includes not only the preparation and submission of all necessary documentation, but also the development of effective risk management and internal control systems. Successful completion of the licensing process will open the door to the European Single Market for Payment Services, providing significant opportunities for growth and development in the FinTech industry.

AISP Regulation in Europe 2025

Account Information Service Providers (AISPs) play an important role in the European financial ecosystem by providing a comprehensive overview of a user's various bank and financial accounts in a single interface. AISPs in Europe are regulated under the Second Payment Services Directive (PSD2), which aims to increase competition and innovation in the payments sector and strengthen consumer protection.

Permission Process

In order to provide account information services, companies need to obtain a license from the national regulator in the country where they are registered. The process of obtaining a license involves submitting an application detailing the business model, management information, anti-money laundering and counter-terrorist financing measures, and security and data protection systems. Internal controls and risk management policies must also be demonstrated.

Applicant requirements

• Clear business model: The AISP should clearly describe its business model, including the types of services provided and how they are delivered.

• Risk Management: Companies should establish procedures for managing risks, including data security and privacy risks.

• GDPR compliance: AISPs must comply with the EU-wide General Data Protection Regulation (GDPR), ensuring a high level of protection for users’ personal data.

• Anti-money laundering measures: Procedures should be in place to prevent the company's services from being used for money laundering or terrorist financing.

Amount of authorized capital required

For AISPs, the European Commission does not set strict minimum share capital requirements, unlike payment or electronic money institutions. However, depending on the scope and specific circumstances of the company's activities, national regulators may set their own requirements for the company's financial stability.

Application processing time

The processing time for an application to obtain an AISP license varies by country, but on average takes between 3 and 6 months. This period may be extended depending on the completeness and quality of the submitted documents and the specific requirements of the national regulator.

Conclusion

Obtaining a license to provide account information services in Europe requires careful preparation and strict compliance with regulatory requirements, particularly in terms of data protection and risk management. However, successfully obtaining a license will allow AISPs to access the wider EU market, providing opportunities for the development and expansion of their financial technology business.

PI regulations in Lithuania

In recent years, Lithuania has been actively developing a reputation as one of the leading hubs in Europe for the FinTech industry, offering a favorable regulatory and business environment for payment service providers and payment institutions. Regulation in this field is the responsibility of the Bank of Lithuania, which acts as the main regulator and supervisory authority.

Permission Process

In order to start operations, payment service providers must obtain the relevant license from the Bank of Lithuania. The process involves submitting a set of documents, which usually includes a business plan, a description of the risk management system, information on managers, founders and beneficiaries, and evidence of financial stability. Applicants must also demonstrate their ability to comply with legal and regulatory requirements, including anti-money laundering and counter-terrorist financing measures.

Applicant requirements

• Financial strength: Payment service providers must demonstrate that they have sufficient equity and financial strength to carry out their intended activities.

• Leadership and Management: There should be evidence of the reliability and professionalism of management and key personnel.

• Regulatory compliance: The Company must ensure compliance with Lithuanian and EU legal requirements, including those related to data protection, anti-money laundering and counter-terrorist financing.

Amount of authorized capital required

The minimum share capital amount of a payment service provider in Lithuania depends on the type of license applied for. For payment institutions, the share capital amount may range from EUR 20,000 to EUR 125,000, depending on the scope of services provided and the specific circumstances.

Application processing time

The application processing time for a Lithuanian Payment Service Provider License is 3 to 6 months from the date of submission of complete documents. The processing time may vary depending on the complexity of the application and the current workload of the Bank of Lithuania.

Conclusion

Lithuania offers favorable conditions for payment service providers, facilitating their development and integration in the European financial market. Strict but fair supervision by the Bank of Lithuania ensures a high level of confidence in the activities of payment organizations, contributing to their sustainable growth and development. Obtaining a license requires careful preparation and strict compliance with regulatory requirements, but will open up a wide range of opportunities in the EU market.

PI regulations in the UK

The UK has long been regarded as one of the world's leading centers of financial innovation, providing a favorable environment for the development of payment services and payment organizations. Supervision in this area is the responsibility of the Financial Conduct Authority (FCA), which is responsible for maintaining the integrity and stability of the UK financial markets.

Permission Process

To operate as a payment service provider in the UK, you must obtain a license from the FCA. The application process involves preparing and submitting an extensive set of documents, which should include a business plan, director and beneficial owner information, a description of the risk management system, and policies and procedures that comply with anti-money laundering and counter-terrorist financing legislation.

Applicant requirements

• Financial Strength: The company must demonstrate that it has sufficient authorized capital and financial strength.

• Management: Qualified management personnel with a good reputation and relevant financial experience are required.

• Regulatory compliance: Firms must ensure compliance with all relevant legal and regulatory requirements, including the General Data Protection Regulation and FCA Rules.

Amount of authorized capital required

The amount of authorised capital required depends on the type of payment services provided. The FCA sets different minimum share capital requirements for payment institutions and e-money issuers, with some categories starting at £20,000 and amounts that can be much higher for organisations providing a wider range of payment services.

Application processing time

The processing time for a license application may vary and depends on a number of factors, including the completeness and quality of the submitted documents and the FCA’s current workload. On average, the application process takes between 3 and 6 months, but additional time may be required in certain circumstances.

Conclusion

The UK provides a stable and transparent regulatory environment for payment service providers, encouraging innovation and consumer protection. Obtaining a license from the FCA requires rigorous preparation and strict compliance. Successful applicants have the opportunity to work in one of the most developed financial markets in the world and have the trust and support of regulators.

PI Regulation in the Netherlands

The Netherlands has established itself as one of the European leaders in financial technology and innovation, providing a favorable environment for the development of payment service providers and payment organizations. These services in the Netherlands are regulated by the Dutch Central Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM), which guarantee a high level of security, transparency and reliability.

Permission Process

The process of obtaining a payment service provider license in the Netherlands begins with an application to the DNB or AFM, depending on the type of service provided. The application process involves preparing and submitting a detailed application dossier, which should include a business plan, a description of the internal organizational structure, management information, risk management policies, and an anti-money laundering and counter-terrorist financing strategy.

Applicant requirements

• Financial Strength: The company must demonstrate that it has sufficient authorized capital and the ability to maintain financial stability.

• Management and Organizational Structure: Qualified management with a good reputation and appropriate organizational structure should be in place.

• Regulatory compliance: Companies must ensure compliance with all relevant Dutch and EU legal and regulatory requirements, including anti-money laundering and counter-terrorist financing regulations.

Amount of authorized capital required

The minimum authorized capital amount for a Dutch payment service provider varies depending on the type of activity. For example, for a payment institution, the starting amount might be €125,000. The exact amount of the share capital requirement is determined based on the scope and nature of the payment services provided.

Application processing time

The processing time for a licensing application is typically 3 to 6 months, but may vary depending on the complexity of the application and the current workload of the regulatory agency. Ensuring that the submitted documents are complete and accurate can speed up the review process.

Conclusion

The Netherlands offers a stable regulatory environment for payment service providers that encourages innovation and consumer protection. Obtaining a license requires careful preparation and strict compliance. Successful applicants have the opportunity to work in one of the most innovative and developed financial markets in Europe.

PI Regulation in Cyprus

As a member of the European Union, Cyprus offers a favorable environment for the development of fintech and payment services, attracting companies from all over the world. Payment service providers and payment organizations in Cyprus are regulated by the Central Bank of Cyprus and the Cyprus Securities and Exchange Commission (CySEC), depending on the specific services provided. These regulators ensure that companies comply with local and European laws and regulations, including the Payment Services Directive (PSD2), which aims to increase transparency and security in payments in the EU.

Permission Process

To obtain a license, payment service providers must submit an application to the Central Bank of Cyprus or CySEC. The process involves preparing and submitting a detailed set of documents, which should include a business plan, information on responsible persons and beneficial owners, a description of the risk management system, and evidence of financial stability and anti-money laundering measures.

Applicant requirements

• Financial Strength: Must demonstrate sufficient authorized capital and financial strength to carry out the proposed activities.

• Management: The company should have qualified management with good business reputation and experience in the financial industry.

• Regulatory Compliance: The Company must comply with all relevant legal and regulatory requirements, including Cypriot law and EU directives, particularly in the areas of data protection and anti-money laundering.

Amount of authorized capital required

The minimum share capital amount for a Cyprus payment service provider depends on the type of license and may start at €20,000 for a small payment institution and go up to €125,000 for a full payment institution. The specific requirements depend on the number and nature of payment transactions to be carried out.

Application processing time

In Cyprus, the application processing time for a Payment Service Provider License is typically between 3 and 6 months, but may vary depending on the complexity of the application and the workload of the regulator. It is essential to ensure that the documents provided are complete and accurate to expedite the review process.

Conclusion

Cyprus offers an attractive environment for payment service providers, combining strict but fair regulatory requirements with access to the European single market. Obtaining a license requires careful preparation and strict compliance. Successful candidates have the opportunity to work in a stable and innovative financial environment that promotes growth and development in the payment services industry.

PI regulations in Poland

Poland is actively developing its financial sector and FinTech industry, which provides favorable conditions for payment service providers and payment organizations. Supervision in this field in Poland is the responsibility of the Financial Supervision Commission (KNF), which is responsible for the supervision and control of financial markets, including payment services. Supervision aims to ensure market stability and transparency, as well as protect consumer interests.

Permission Process

To start operating as a payment service provider in Poland, you must obtain a license from the KNF. The application process involves preparing and submitting a comprehensive package of documents, which must include a business plan, information on managers and owners, a description of the risk management system, and evidence of compliance with authorized capital and financial stability requirements. Applicants must also demonstrate their ability to comply with regulatory requirements, including anti-money laundering and counter-terrorist financing measures.

Applicant requirements

• Financial strength: The company must ensure that it has sufficient authorized capital to carry out its activities.

• Governance and Management: Qualified managers with a good business reputation and appropriate organizational structure are required.

• Compliance: The Company must comply with all relevant legal and regulatory requirements, including those relating to data protection and anti-money laundering.

Amount of authorized capital required

The amount of the minimum authorized capital for payment service providers in Poland depends on the type of services provided. For payment institutions, the minimum authorized capital ranges from 20,000 EUR to 125,000 EUR, and the specific requirements can be found on the official website of the KNF.

Application processing time

The processing time for a payment service provider license application in Poland averages between 3 and 6 months, but may vary depending on the complexity of the application and the workload of the KNF. It is crucial to ensure that the documents provided are complete and accurate to expedite the review process.

Conclusion

Poland offers an attractive regulatory and business environment for payment service providers, fostering innovation and competition in the financial markets. Obtaining a license requires careful preparation and strict compliance with established requirements. The successful candidate will have the opportunity to work in one of the most dynamic and innovative financial markets in Europe, providing innovative solutions for payment services.

Swedish PI Regulation

As one of the global centers of fintech innovation, Sweden provides a favorable environment for the development of payment service providers and payment organizations. The country's regulatory environment is built around the Swedish Financial Supervisory Authority (FI), which is responsible for licensing and supervision of the financial sector.

Permission Process

In order to operate, payment service providers must obtain a license from the FI. The process involves submitting a detailed application package, which must include a business plan, information on principals and beneficial owners, a description of the risk management system, and evidence of compliance with authorized capital requirements. Applicants must also demonstrate their ability to comply with regulatory requirements, including anti-money laundering and counter-terrorist financing measures.

Applicant requirements

• Financial Strength: The company must ensure that it has sufficient authorized capital to carry out its proposed activities.

• Governance and Management: Qualified managers with a good business reputation and appropriate organizational structure are required.

• Compliance: The Company must comply with all relevant legal and regulatory requirements, including those relating to data protection and anti-money laundering.

Amount of authorized capital required

The minimum authorized capital amount for a Swedish payment service provider depends on the type of activity and can range from EUR 5,000 (approximately SEK 50,000) for registration as a payment agent, to EUR 200,000 (approximately SEK 2,000,000) for a full-fledged payment institution.

Application processing time

In Sweden, the processing time for a payment service provider license application varies depending on the complexity of the application and the workload of the FI, but is generally between 3 and 12 months. It is crucial to ensure that the documents provided are complete and accurate to expedite the review process.

Conclusion

Sweden offers one of the most innovative and favorable regulatory environments in Europe for payment service providers, fostering the development and growth of the FinTech industry. Obtaining a license requires careful preparation and strict compliance. The successful candidate will have the opportunity to work in a dynamic and innovative financial market, providing innovative solutions for payment services.

PI Regulation in Germany

As one of the largest economies in Europe, Germany offers significant opportunities for payment service providers and payment organizations. The country is regulated by the Federal Financial Supervisory Authority (BaFin), which enforces high standards of security, transparency, and reliability in the financial sector.

Permission Process

Payment service providers in Germany need to obtain a license from BaFin before they can start operating. The application process requires the preparation and submission of an exhaustive set of documents, including a business plan, information on directors and beneficial owners, a detailed description of risk management systems and internal control procedures, as well as proof of financial strength and compliance with authorized capital requirements.

Applicant requirements

• Financial Strength: Suppliers must demonstrate sufficient authorized capital to support their business.

• Leadership and Management: There must be evidence of management qualifications and reliability, as well as an effective organizational structure.

• Regulatory compliance: Companies must comply with German and EU laws and regulations, including anti-money laundering and counter-terrorist financing regulations and data protection requirements.

Amount of authorized capital required

The minimum authorized capital amount for a German payment service provider depends on the type of services provided and ranges from EUR 50,000 to EUR 125,000. In order to obtain exact information, it is recommended to contact the BaFin directly or a professional legal advisor.

Application processing time

The processing time for a license application varies depending on the complexity of the application and the workload of the BaFin, but is usually between 3 and 6 months. It is essential to submit a complete and accurate set of documents to expedite the examination process.

Conclusion

Germany offers a strict but fair regulatory environment for payment service providers, promoting innovation and consumer protection. Obtaining a license requires rigorous preparation and strict compliance. Successful candidates gain access to one of Europe's largest and most developed financial markets, offering significant opportunities for growth and development.

PI Regulation in Spain

Spain is one of the active players in the development of the European fintech and payment services market. Payment service providers and payment organizations in the country are supervised by the Banco de España and regulated by European legislation, in particular the Payment Services Directive (PSD2) which aims to improve payment security and consumer protection.

Permission Process

Payment service providers in Spain need to obtain a license from the Bank of Spain before they can start operating. The process involves applying and submitting a series of documents, including a business plan, information on principals and beneficial owners, a description of the risk management system, and evidence of compliance with authorized capital and financial strength requirements. Applicants must also demonstrate their ability to comply with regulatory requirements, including anti-money laundering and anti-terrorist financing measures.

Applicant requirements

• Financial Strength: Suppliers must ensure they have sufficient authorized capital to support their business.

• Leadership and Management: Qualified management personnel with a good business reputation are required.

• Compliance: The company must comply with Spanish and EU laws and regulations, including anti-money laundering and counter-terrorist financing regulations.

Amount of authorized capital required

The amount of the minimum authorized capital for a payment service provider in Spain depends on the type of services provided and may vary. To register as a payment institution, the minimum authorized capital is usually between €20,000 and €125,000, depending on the volume of business and the services provided.

Application processing time

The processing time for a license application is usually between three and six months, depending on the completeness and complexity of the documents submitted and the workload of the Santander Bank.

Conclusion

Spain offers a favorable environment for the development of payment service providers, promoting innovation and competition in the market while strictly adhering to regulatory requirements to ensure the security and transparency of financial transactions. Obtaining a license requires careful preparation and strict compliance. Successful candidates can enter one of the largest markets in Europe, providing significant opportunities for growth and expansion in the payment services industry.

PI Regulation in Italy

Italy, with its vibrant financial sector and innovative fintech industry, has created an attractive environment for payment service providers and payment organizations. The country is regulated by the Bank of Italy (Banca d'Italia) and the Italian Market and Competition Authority (Autorità Garante della Concorrenza e del Mercato, AGCM), which are responsible for overseeing compliance with European and national regulations, including the Payment Services Directive (PSD2), which aims to improve payment security and consumer protection.

Permission Process

To operate as a payment service provider in Italy, it is necessary to obtain a license from the Bank of Italy. The application process requires the preparation and submission of an exhaustive set of documents, including a business plan, information on directors and beneficial owners, a detailed description of the risk management system and internal control procedures, as well as proof of financial strength and compliance with share capital requirements.

Applicant requirements

• Financial Strength: The company must demonstrate sufficient authorized capital to support its operations.

• Leadership and Management: There must be evidence of management qualifications and reliability, as well as an effective organizational structure.

• Compliance: The Company must comply with Italian and EU laws and regulations, including anti-money laundering and counter-terrorist financing regulations.

Amount of authorized capital required

The minimum authorized capital of a payment service provider in Italy depends on the type of activity. For payment institutions, the minimum authorized capital usually starts from EUR 125,000. For electronic money institutions, the minimum capital may be higher and is determined based on the transaction volume and services provided.

Application processing time

The processing time for a license application is usually between 3 and 6 months, but may vary depending on the completeness and complexity of the documents submitted and the current workload of the Bank of Italy. It is essential to submit a complete and accurate set of documents to expedite the review process.

Conclusion

Italy offers a favorable environment for payment service providers to operate in the European market. Strict but fair regulatory requirements ensure a high level of trust and security in the financial industry. Obtaining a license requires careful preparation and strict compliance. Successful candidates can access a dynamic market that promotes innovation and competition in payment services.

PI Regulation in France

In France, payment service providers and payment organizations are strictly regulated by the French Prudential Supervision and Resolution Authority (Autorité de Contrôle Prudentiel et de Résolution, ACPR), which is part of the Bank of France. This regulatory environment aims to ensure the stability of the financial system, protect consumers, and prevent financial crime, including money laundering and terrorist financing.

Permission Process

To begin operations, payment service providers must apply for a license from the ACPR. The application process requires the preparation and submission of an exhaustive set of documents, including a business plan, information on directors and beneficial owners, a detailed description of risk management systems and internal control procedures, as well as proof of financial stability and compliance with authorized capital requirements.

Applicant requirements

• Financial Strength: The company must demonstrate sufficient authorized capital.

• Leadership and Management: Qualified management personnel with a good business reputation are required.

• Compliance: Companies must comply with French and EU laws and regulations, including anti-money laundering and counter-terrorist financing regulations.

Amount of authorized capital required

The minimum authorized capital of a French payment service provider varies according to the type of services provided. Generally speaking, the minimum authorized capital of a payment institution ranges from €20,000 to €125,000, depending on the scope and characteristics of the services provided.

Application processing time

The processing time for an application for a Payment Service Provider License in France is between 3 and 6 months. This period may vary depending on the completeness and complexity of the documents submitted and the current workload of the ACPR.

Conclusion

France offers a favourable environment for the development of payment service providers, emphasising the importance of innovation and consumer protection. Strict but fair regulatory requirements ensure a high level of trust in the financial sector. Obtaining a license requires careful preparation and strict compliance. The successful candidate will have access to one of the largest and most developed financial markets in Europe, with significant opportunities for growth and expansion in the payment services industry.

PI regulations in Ireland

With its favourable tax regime and open economy, Ireland is an attractive jurisdiction for many international and local fintech companies and payment service providers. Payment services and payment organisations in Ireland are regulated by the Central Bank of Ireland, which operates under European directives, including the Payment Services Directive (PSD2) which aims to increase security and innovation in the payments industry.

Permission Process

Payment service providers in Ireland need to obtain a license from the Central Bank of Ireland before they can start operating. The application process involves submitting a detailed set of documents, which includes a business plan, information on principals and beneficial owners, risk management systems and internal controls, and proof of compliance with authorized capital and financial stability requirements. Information on anti-money laundering and counter-terrorist financing measures should also be provided.

Applicant requirements

• Financial Strength: Providers must demonstrate that they have sufficient authorized capital to start and sustain their business.

• Leadership and Management: Qualified managers with a good business reputation and appropriate organizational structure are required.

• Compliance: The Company must comply with all relevant Irish and EU laws and regulations.

Amount of authorized capital required

The minimum authorized capital for payment service providers in Ireland depends on the type of services provided. For payment institutions, the minimum authorized capital usually starts at €20,000. However, the exact requirements may vary depending on the specific services provided and the scope of business.

Application processing time

The processing time for an Irish Payment Service Provider License application can vary, but on average is between 3 and 6 months. Processing time depends on the completeness and accuracy of the documents submitted and the current workload of the Central Bank of Ireland.

Conclusion

Ireland offers a stable and supportive regulatory environment for payment service providers, encouraging innovation and consumer protection. Obtaining a license requires careful preparation and strict compliance with regulatory requirements. Successful candidates have the opportunity to develop their business in one of the most dynamic and open markets in Europe, enjoying a favorable tax system and extensive financial and technological innovation.

PI Regulation in Malta

Malta, renowned for its business-friendly climate and advanced financial technology regulation, offers unique opportunities for payment service providers and payment organizations. The country strives to be at the vanguard of innovation and technological advancement by providing a transparent and efficient regulatory environment.

Regulatory structure

Payment services in Malta are regulated by the Malta Financial Services Authority (MFSA), which is the central authority responsible for licensing and supervising payment service providers and payment organizations in accordance with European and local regulations.

License Requirements

1. Applicants: Must be a legal entity registered in Malta. In order to obtain a license, a detailed business plan must be submitted describing the proposed activities, management structure, operating procedures and anti-money laundering measures.

2. Share capital: The minimum share capital amount depends on the type of license, but for most payment institutions it ranges from €125,000 to €1,000,000.

3. Application Processing Time: The application process may take 3 to 6 months, depending on the complexity of the application and the information provided.

Oversight and Compliance

Payment service providers in Malta must comply with strict risk management, anti-money laundering (AML) and counter-terrorism financing (CFT) requirements and protect customer data. The MFSA conducts regular audits to ensure compliance with applicable regulatory requirements.

Conclusion

Malta's regulatory environment provides an excellent environment for the development and integration of innovative financial products and services. It is important to note that successfully obtaining a license and operating a payment services business requires careful planning, understanding of local legislative requirements and the support of skilled legal and financial advisors.

For the latest information and advice it is recommended that you contact the MFSA and qualified legal professionals with expertise in the regulation of financial services in Malta directly.

Luxembourg PI Regulation

The key regulator responsible for the licensing and supervision of payment service providers in Luxembourg is the Commission de Surveillance du Secteur Financier (CSSF). It is regulated by the European Electronic Money Directive (EMD) and the Payment Services Directive (PSD2), which aim to create a single market for payment services within the EU.

License Requirements

1. Application: Applicant organizations must submit a detailed business plan to the CSSF, including a description of the services provided, a risk analysis, organizational structure, and anti-money laundering and counter-terrorist financing measures.

2. Authorized capital: The minimum authorized capital of a payment service provider depends on the type of services provided and may vary. Generally speaking, for most payment institutions it ranges from EUR 125,000 to EUR 2,000,000.

3. Application Review Time: The CSSF application review process takes 3 to 12 months, depending on the completeness and complexity of the documents provided.

Oversight and Compliance

Payment service providers must comply with a range of CSSF requirements, including risk management, customer data protection, and AML/CFT requirements. The CSSF regularly conducts inspections and audits to ensure compliance with these requirements.

Conclusion

Luxembourg offers a highly regulated but innovative and open environment for business development in the payment services industry. Successfully obtaining a license requires careful planning, in-depth understanding of regulatory requirements and active interaction with the CSSF during the application process. It is recommended to consult legal and financial advisors specialized in Luxembourg financial regulation to ensure compliance with all requirements and successful market entry.