EMI License in the United Kingdom
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An Electronic Money Institution (EMI) License in the UK allows companies to issue and manage electronic money while providing financial services such as payment processing, digital wallets, and money transfers.
Advantages
What are the Legal Requirements in EMI License in the UK?
Capital Requirements
The minimum required capital is €350,000 for a full AEMI License, while SEMI licenses require between €50,000 and €100,000, depending on transaction volume.
Business Plan & Risk Management
Applicants must submit a detailed business plan, including financial forecasts, AML (Anti-Money Laundering) policies, and measures for customer fund protection.
Key Personnel & Compliance Officers
Directors, shareholders with 10% or more ownership, and key personnel must pass FCA’s fit and proper assessment. The CEO and MLRO (Money Laundering Reporting Officer) must reside in the UK.
Operational Presence in the UK
The company must have a registered UK office and ensure that daily management and regulatory compliance are handled from within the country.
5 Steps to Get Emi Licence in the UK
Frequently Asked Questions
Still have questions?
How long does it take to obtain an EMI License in the UK?
The FCA review process takes 3–6 months, depending on the complexity of the application.
What is the capital requirement for an EMI License?
The minimum capital requirement is €350,000 for AEMI and €50,000–€100,000 for SEMI, based on transaction volume.
Do I need a physical office in the UK?
Yes, EMI-licensed companies must have a registered office and operational presence in the UK.
Are EMI services VAT-exempt?
Yes, financial services under an EMI License are exempt from VAT in the UK.
Can an EMI issue IBANs and process SWIFT payments?
Yes, EMI-licensed institutions can issue IBAN accounts and process SWIFT transactions globally.
Our Services Include
Company Registration & FCA Licensing
We assist in company formation, preparing and submitting an EMI license application to the FCA.
Regulatory Compliance & Risk Management
Our team ensures compliance with AML, KYC, and FCA financial regulations, implementing best practices for risk management.
Business Plan & Documentation Support
We draft business plans, AML policies, financial projections, and governance documents required for FCA approval.
Capital Structuring & Financial Planning
We provide guidance on securing minimum capital requirements and setting up segregated accounts for customer funds.
Ongoing Regulatory Compliance & Audit Support
Our experts handle periodic financial reporting, FCA audits, and GDPR compliance, ensuring long-term regulatory adherence.
We Are Always Available
Our team ensures your business setup is smooth, efficient, and compliant with local laws. Contact us today to discuss your project.
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Arch. Makarios Av. III, No. 1-7, Mitsis Building 3, 3rd floor, Office 302, 1065 Nicosia
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