Main requirements for Small Payment Institution acquisition in Gibraltar are as follow:

  • Two company directors as a minimum.
  • Availability of financial education or operational experience at directors and all staff.
  • Physical office and physical presence in the country. If there is no a possibility to be present in the country, it is necessary to nominate a representative from the local citizens.
  • An absence of criminal sanctions at directors, founders, shareholders and employees of the company.
  • Minimum authorized capital depending on the activity type.
  • Minimum liability insurance for an amount of 1 million pounds.
  • Reporting and audit.

Requirements to authorized capital for the license

50 000 euro for the following sub-activities:

  • Fulfillment of the commissions related to securities.
  • Fulfillment of the commissions related to securities in the name of a customer or at the expense of a customer.
  • Investment consulting.
  • Arrangement of multilateral trading system.

125 000 euro for the following sub-activities:

  • Investment management.
  • Emission of securities.

730 000 euro for the following sub-activities:

  • Securities trading at own expense.
  • Securities underwriting.
  • Securities storage and management for a customer and follow-up actions related to it.

An approximate list of documents for the investment license reception in Gibraltar:

  1. Articles of association.
  2. Information about shareholders and shares distribution among them.
  3. Information about board members, council members and information about company managers.
  4. Information about companies, where the presence of board members exceeds 20%.
  5. Information about company auditor and information about persons performing an internal control.
  6. Initial balance and income and costs review. For the acting company – a balance and profit statement, and annual reports for 3 years, if available.
  7. For the acting company – documents confirming a net amount of funds together with the   auditor’s report.
  8. Confirmation of Foreign Department proving the license availability in the company and a conformation of its activity  to the legislation requirements if one of the applicant’s shareholders is a foreign credit institution, investment fund, an investment, insurance or other company which is financially supervised.
  9. Business plan for 3 years.
  10. Internal instructions of accounting department.
  11. Internal control instructions.
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