E-Money Institution (EMI)

An e-money institution licence lets you issue electronic money, hold customer balances as stored value and provide the payment services around them. It is the authorisation behind most neobanks, wallet products and multi-currency account platforms.

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How the setup works

Confirm the licence actually fits the product — map what you do to e-money issuance and to the specific payment services you need authorised.
Choose the jurisdiction and incorporate the applicant, appointing directors, a compliance officer and an MLRO who will satisfy the regulator.
Build the regulatory file: business plan, financial projections, governance, outsourcing and group structure.
Prepare the compliance framework — AML/CFT policies, safeguarding of customer funds, risk management, IT security and business continuity.
File, work through the regulator’s review and questions, and clear any pre-authorisation conditions before launch.

Timeline

Usually 9–18 months from a complete file. The regulator’s clock only starts when the application is accepted as complete, so preparation time is where projects are won or lost.

General requirements

Initial capital held and evidenced
Fit-and-proper directors & shareholders
Real local substance and qualified management
Safeguarding arrangements for customer funds
AML/CFT framework with an appointed MLRO
IT security and business-continuity arrangements

Documents needed

Regulatory business plan
Three-year financial projections
Ownership and group structure chart
Key-person questionnaires, CVs and police clearance
Source-of-funds evidence for shareholders
AML/CFT policies and procedures
Safeguarding arrangement and bank confirmations
Governance, outsourcing and risk-management documents
IT security and business-continuity policies

Requirements, fees and timelines are indicative and change over time. We confirm the current rules for your specific project before you commit.

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