Luxembourg payment system license obligates all payment system makers to obtain a license from a local FCA regulatory authority. As a member of the EU, the dukedom is based on the act on electronic money regulation of 2011 and the European regulation 1781/2006, it requires licensees to meet the criteria of directives and MLD norms for:
To fulfill the general conditions of the company that needs a Luxembourg payment system license, it is necessary to provide the regulator with:
To obtain an e-money license in Luxembourg, issuers of electronic money and payment system operators (merchant accounts, purses) must create in the dukedom a legal entity with a "physical" real head office and a minimum capital of 350,000 euros. The most attractive and convenient organizational form for the electronic money issuer is SICAR in the form of SeCS, a limited partnership (like Russian LLC). As a partner it can be a foreign, offshore company, nominal shareholders and directors are allowed.
A Luxembourg payment license is issued to companies that have paid the fee and submitted a full set of documentation to the regulatory body. The procedure of an application consideration takes, on average, up to a year. To maximally simplify it and do not waste time in vain, after receiving a dismissal, you should gather a support of specialists.
"Prifinance" company will help in the documentation preparation and obtaining of permits for the activity electronic money issue and core services provision. Our experts, specializing in payment systems, will check the license package for a completeness and a correctness, will help to draw up policies and other descriptions. We provide the support for:
We will monitor the case progress and will help to receive all the permits. With us customers save time, minimize the dismissal risk and receive a company with EMI of Luxembourg on turnkey bases.