Spain Payment System License

Legal entities that need a license payment system in Spain, must be registered in the country - for example, as sociedadanónima. The authorized capital of the company must be more or equal to 350 thousand euros, and it must be supplemented with assets sufficient to support the business. The company is obligated to provide a description of technical tools for the protection of funds and customer data, as well as an information on:

• statutory documentation;
• organizational, financial structure;
• directorate - to provide a list of managers, information, confirming experience, professional integrity (in accordance with the EU requirements - three people minimum, mandatory availability of the resident director);
• shareholders;
• management and control policies, measures to prevent money laundering.

The registrar reviews the application within a period of up to three months. If a decision is not rendered for a period, the application is deemed rejected. If a Spanish payment license is received, the company must transfer an information on itself to the trade register and the special register of the National Bank prior the commencement of operations.

"Prifinance" - licensing of payment systems in Spain

Our company provides a full range of services for licensing of EMI tools and payment systems in Spain. Experts will help to develop a tax model and work strategy, provide comprehensive consultations. We support the following:

• registration of companies that meet the Spanish regulator requirements (real office, professional staff and management);
• a development of the documents package with all the necessary policies and descriptions, including measures for money laundering and risks prevention;
• documents legalization - translation, apostilization;
• payment of duties in accordance with the licensing authority requirements;
• an opening of bank accounts, the deployment of activities after permits obtaining and so on.

A cooperation with "Prifinance" is a guarantee of the fulfillment of all the requirements of Spanish and European legislation. By contacting our company, you save time, minimize the risk of dismissal and shift bureaucratic procedures to the shoulders of qualified experts.