The main regulator of Ireland, which is responsible for electronic money licensing, is the Central Bank. It issues permits for activities, regulates an operation of systems related to EMI, performs a control and supervision over them. The legal framework, which the regulator is governed, is the European Regulation of 2009, the existing Directive on payment services. In 2017-2018, it is revised to comply with EU standards.
The electronic money license of Ireland is issued only to applicants who are established in the country, have a real registered office over there. Seals and all documents of the company - from registers of shareholders, directors to the accounting and tax reporting shall be kept in it. Also there are specific requirements to the staff in the state:
It is convenient to create a company in the country in a private form, with the liability limitation by the number of shares. The minimum capital for such companies is not limited, but several conditions must be met:
Companies, which need the payment system license in Ireland, must meet the additional requirements of the Central Bank. A documentation package standard for European regulators shall be required: a business plan, prescribed security policies, control and management mechanisms, confirmation of financial and technical opportunities to support the activities. The licensing procedure consists of the following steps:
The entire procedure takes up to six months - the Central Bank can request an additional documentation or ask questions on the business to the licensee. There may be dismissals during the applications examination, therefore it is important to obtain a professional support.
Our company provides the full range of the support to customers who need a payment license for Ireland. Experts with an extensive practical experience will carefully study the situation, the needs of the customer company, provide detailed consultations and help to pass the procedure. Among the "Prifinance" services there are:
We will help you get access to work in the business field of Ireland with sparing taxation and extensive prospects. Employees of the company will speed up and simplify all procedures, minimize the dismissal risk.