Requirements for Licensees
If a company is not registered in Hungary but in the other EU jurisdiction, it needs a representative in the person of a local lawyer or a branch of a serving bank in a territory of the country. It is necessary to provide a description of the structure and management and control mechanisms of the company, a confirmation of the funds for work availability. A competence of the director and staff shall be also required to be proved.
Payment structures and operators who need an electronic money license in Hungary shall be required to provide:
- a description of the payment license and its tools;
- a commercial plan for the first 3 years, inclusive a confirmation of the reliability and availability of infrastructure;
- statutory documentation of the company and personal identification of the directorate (with confirmation of the required level of professionalism);
- a confirmation of the customer payments protection, including a software with an audit certificate;
- a description of accounting and risk management system;
- a confirmation of an availability of tools to prevent money laundering and protection from the associated risks;
- names of the auditor, intermediaries, the name of outsourcing partners (if cooperation is supposed);
- two documents issued not earlier than 30 days before the filing of the application – that the company does not have customs, tax, other state outstanding obligations, and that the company is not in a state of bankruptcy, and its managers are not disqualified.
Additionally, a company that needs a license of the Hungarian payment license makes up a statement where it ensures that its activities do not pose a threat to the e-money operator. The Financial Supervision Agency may make other demands, so licensees should seek for a professional support.
Payment Licensing Services in Hungary from “Prifinance”
Our company will take care of all the formalities and will help to get permission within the shortest possible time. We minimize the dismissal risk, we provide the support with:
- companies registration and bank accounts opening;
- collection, translation, legalization and verification of the correctness of all documents and policies;
- registration of funds origin evidence, availability of a real office and legal address;
- submitting of applications to the Agency and monitoring of their consideration progress;
- meeting of the requirements for the directorate, staff and so on.
Applying to “Prifinance” customers shall quickly gain an access to international markets, where they can run a prospective business. The experts of the company are experienced, competent and ready to provide all necessary consultations.