Who grants the licence?
Czech National Bank
Who needs the licence?
All non-banking consumer credit providers, P2P credit platforms, leasing companies, etc. No licence is required if providing credit to self-employed persons or legal persons. Such persons are only regulated in relation to AML.
What will we do for you?
- we will assign a personal project manager to you, who will guide you through the entire licencing process
- we will compile an application and all attachments
- we will create complete internal regulations and procedures, including risk management
- we will compile a business plan, including 3-year trading forecast, in the form of financial statements and a strategy for the development of activity
- we will set rules for the provision of credit and management of the creditworthiness of borrowers
- we will set up appropriate organisation of internal operation
- we will set up internal management and control systems
- we will set a capital adequacy calculation (5 % of the volume of provided and still-outstanding consumer loans)
- we will compile measures to combat money-laundering (AML/CFT)
- we will ensure compliance and any reporting to the Czech National Bank is achieved
- once you have your licence, we will be ready to regularly help you with regulation, internal auditing, or dealing with the Czech National Bank and other regulatory bodies
- turnkey compilation of all documents takes around 1-2 months
What will we need from you to do all this?
- information about the types of credit you want to provide
- basic information about the focus and manner of providing services
- information about senior management
- information about persons having a qualifying holding and the ultimate owner
- proof of the transparent origin of the initial (registered) capital, the size of which must be CZK 20 million according to the Act on Consumer Loans
- other information depending on the type of services and the scope of the application
Who have we already arranged a licence for?
We have arranged a licence for Český Triangl a.s., FINEMO.CZ., HELP FINANCIAL, CreditPortal, Pronto Credit, and others. We have arranged a total of 17 NBCCP licences for our clients. You will find other references here.
How much will it cost?
The price depends on the complexity and scope of the licence. You will receive a detailed written offer from us following a telephone or personal consultation.
Do you want to manage the CNB licence?
