Requirements for potential licensees
The general rules apply to the field of electronic currencies in the Republic – taking into account the Second EU Directive, the current GDPR Regulation and international norms on criminal money-laundering countering. When organizing payment licenses in Macedonia, you should:
- create a company with a “physical” office – there are analogs to LLC, partnerships and open joint-stock companies in the Republic, the authorized capital of 5,000 euros is paid for 12 months;
- open an account with a bank, providing a registration package of documents, a questionnaire, a business description and a Due Diligence form;
- hire a representative manager and, preferably, a director with work skills and competence in finance and e-money field (this is the requirement of the EU Directive);
- draw up a detailed description of the business model and business support policy;
- prepare documents under AML, technical support of operation and support of clients’ safety.
If payment licenses operating in Macedonia use, directly or indirectly, the data of individual EU residents, one of the EU languages or carry out transactions in euros, they must comply with the requirements of GDPR Regulation on the Personal Information Protection (DPO). It will take a written register of operations for private data processing, Privacy policy. The company should participate in a cross-border data transmission, develop a system for user consent obtaining and implement DPO technical instruments. In certain cases, you need to have a representative in the EU, a freelance inspector-consultant.
Any other requirements may be applied to the operator at any time. “Prifinance” will help you to implement them and introduce the system into the legal field.
Services for the payment licensing
“Prifinance” consulting company provides full assistance in a business organization outside the Russian Federation, licensing and implementation of EMI and electronic money circulation instruments. Experts will select the optimal form of the enterprise and the tax model, develop an action strategy. We save customers from hassle, save their time and efforts and undertake:
- a business registration in a suitable jurisdiction, a contribution of the authorized capital and opening of bank accounts, including their remote opening;
- a preparation of a documents package to comply with regulations, EU directives, the requirements of national regulators – policies to prevent money laundering, business plans, other internal registers;
- a registration of the issuer’s status, rights to issue electronic funds, obtaining permits and other necessary procedures.
With the support of “Prifinance”, the customer deploys activities in the legal field and minimizes the risks of national and international legislation violation.
