Who grants the licence?
Czech National Bank
Who needs the licence?
Electronic money is considered to be a monetary value which is directly stored in an electronic means of payment, that is a debt owed by the issuer, and that is convertible to an existing fiat currency. The characteristic features of electronic money are an electronic money carrier and the possibility of this money existing independently off-line. This typically involves prepaid cards and vouchers, payment wristbands, virtual vouchers, digital tokens, certain payment systems or wallets (GoPay, GooglePay, etc.). A SSEMI has a volume limit of issued electronic money of EUR 5 million (maximum limit). No minimum starting capital is specified for SSEMI.
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 and trading forecasts in the form of financial statements
- we will set up the appropriate organisation of internal operation
- we will set up an internal control system
- we will compile measures to combat money-laundering (AML/CFT)
- we will ensure that compliance and reporting to the Czech National Bank is achieved
- after you have your licence, we will be ready to regularly help you with the regulation of SSEMI, dealing with the Czech National Bank and other regulatory bodies
- it takes around 1 month to compile all the documents required
What will we need from you to do all this?
- information about which services you want to provide
- basic information about the focus and manner of providing services
- information about your senior management
- information about persons having a qualifying holding and the ultimate owners
- other information according to the type and scope of the application
Who have we already arranged a licence for?
We have arranged a SSEMI licence, for example, for BANCIBO, SE, one of the top ten European companies in the field. We were able to arrange a licence for Unicornex Group within 27 days. 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 licence?
