Get your UK EMI license quickly with professional support
◆ A team of compliance experts to escort you: complex FCA regulatory requirements, let us handle. The professional team will create a high-quality application plan for you, greatly improve the approval rate, and let you focus on business development without worry.
◆ One-stop service, easy and worry-free: from legal advice, document review to anti-money laundering/KYC policy formulation, to external audit arrangements, we provide full-process services to save you valuable time and energy.
◆ Flexible, tailor-made: Time-critical? If your budget allows, we can help you explore EMI license acquisitions to help you quickly enter the UK market.
Ready to enter the UK EMI market? Contact us now!
Expand the scope of business: covering electronic currency issuance, payment processing, IBAN accounts, payment cards, SWIFT payments and other services.
Enhance brand reputation: regulated by FCA, increase customer trust and attract more investors.
Asset appreciation: improve the valuation of enterprises, for you to open more cooperation and financing channels.
Key Requirements for EMI Licence Application
To obtain a UK EMI license from the FCA, you must meet the following requirements:
◆ Initial capital: £ 350000;
◆ Registration fee: £ 5,000;
◆ Fund protection: submit a plan to protect the client's funds (separate account or insurance);
◆ Leadership team: appointment of local UK executives with financial services experience;
◆ Business Plan: Detail operations, risk management, budget projections for the next three years and safeguards.
Financial Technology Services Available with UK EMI Licence
E-money institutions holding UK EMI licences are able to legally provide a wide range of regulated financial services, helping to expand the UK market and enhance business competitiveness. Key services include:
◆ Issue e-money: Create and manage digital payment solutions, such as prepaid cards and e-wallets, to meet the diverse payment needs of users.
◆ Cash deposit and withdrawal service: A convenient service that supports cash deposits and withdrawals from payment accounts.
◆ Payment transaction execution: processes payment transactions, including fund transfer, direct debit, card payment transactions, and credit transfer, to meet the payment needs of different scenarios.
◆ Issue payment instruments: Issue a variety of payment instruments and trade receipts to achieve diversification and flexibility of services. -Remittance services: provide compliant and secure domestic and international fund remittance services.
◆ Payment Initiation Service (PIS): Provide customers with convenient payment initiation services to increase the flexibility and convenience of payment.
◆ Account Information Service (AIS): Provides a comprehensive account information service that makes it easy for users to access and manage their financial data.
UK EMI licences enable companies to offer these diverse services, enhancing their reputation and compliance in competitive financial markets.
Step 1: Evaluate
Estimate 2-4 weeks to evaluate your business plan and provide architectural recommendations with clear requirements, costs and timelines.
Step 2: Qualification Verification
Estimated 1-2 weeks to ensure your team meets FCA compliance requirements
Step 3: Company Registration
Expected 1 week in the UK for you to register a limited liability company.
Step 4: Document Preparation
Expect 4-6 weeks, depending on the level of complexity, to assist you in developing plans, forecasts and policies, coordinating with your team, and preparing complete application documents that meet FCA standards.
Step 5: Deploy locally
It is expected to take 2-4 weeks to assist in the recruitment of local staff (directors, company secretaries, AML reporting officers) and rental of office space in parallel with the preparation of documents.
Step 6: Fund Guarantee Account
Expect 2-4 weeks to use your network resources to help you open a fund guarantee account and access the payment infrastructure.
Step 7 : FCA submission
Expect 1-2 weeks to submit your application online via the FCA's Connect system's Connect system.
Step 8 : FCA Follow Up
The estimated time is variable and may range from a few weeks to a few months to assist you throughout the FCA follow-up, question answering and interview.
Cost: covers set-up costs (local staff, accounting), license fees and ongoing compliance costs (audits, reports, etc.), please consult.
◆ Time: In our experience, the entire process can take months. We will try our best to optimize the process and strive for the fastest results. Our familiarity with the FCA process helps reduce delays.
Important Note: About License Plate Passage
UK EMI licenses no longer automatically gain EU access. According to your European expansion plan, we provide the best solutions to help you successfully expand the European market.
UK EMI Licence FAQ
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1. Why choose to start an e-money business in the UK?
UK financial services are VAT-free, remote account opening is allowed, and transactions are unlimited. As a globally recognized jurisdiction, the mature fintech ecosystem provides a broad stage for your business development. -
What is the difference between small EMI and full EMI?
Small EMI has limits on trading volume and electronic money balances, while full EMI has no such limits. We will advise you on the most appropriate license type based on your business model and revenue forecast. -
3. How long does it take to apply for an EMI licence?
In our experience, it usually takes several months. But please rest assured that we will optimize the process for you to ensure that you get a license as soon as possible. -
Do you need to set up an office in the UK?
Yes, your leadership team must be in the UK. We can help you recruit the right people and find the ideal office space. -
5. No financial industry experience can apply?
Although experience is a plus, there is no need to worry. We will assist you in assembling a strong team or recommend you with experienced compliance experts to ensure your application is successful. -
Can UK EMI licenses enter the EU market?
No, things have changed since Brexit. If you are interested in entering the EU market, we will provide you with a tailored strategic plan. -
7. Which EU country is better to set up an EMI subsidiary?
This depends on your target market, language preferences, talent resources and specific regulatory requirements. Popular choices include Lithuania (quick approvals), Ireland (fintech hub) and Luxembourg (excellent financial reputation). We analyze and recommend the best target countries for you. -
8. What are the additional fees for applying for an EMI licence?
In addition to the costs of the FCA, legal, technical and office set-up costs need to be considered. We will provide you with a comprehensive fee budget, including potential expenses for recruitment and external audit. -
9. What are the costs of ongoing operations?
Ongoing expenses include FCA fees (based on revenue), compliance monitoring, audits, and insurance. We will estimate these costs for you to make sure you know. -
What are the technical support requirements?
You need a secure customer account opening platform, transaction processing system, anti-money laundering/KYC monitoring software and risk management tools. We can recommend the right solution or technology provider. -
What follow-up support can you provide?
We provide ongoing compliance services to ensure your business remains compliant with regulatory requirements. Our aim is to be your long-term partner in UK compliance and global expansion. -
12. Can you help me with my EMI application?
Of course you can! From company registration to application submission, to communication with FCA, we will accompany you all the way to ensure that your application goes smoothly.
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