Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the FCA decision, including banking and payment rails.
Get an EMI license in the UK.
The world's fintech capital licenses e-money through the FCA - €350,000 initial capital, a small-EMI on-ramp, and a safeguarding regime rebuilt for 2026. No EU passport since Brexit; the deepest market and talent pool in Europe instead. We run the file from 7 Bell Yard.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
United Kingdom in brief
The fintech capital, mid-upgrade on safeguarding.
The UK is where modern e-money grew up: the FCA authorises electronic money institutions under the Electronic Money Regulations 2011 with €350,000 initial capital, a three-month statutory determination from a complete application (twelve months for incomplete ones - the difference is the file), and a small-EMI registration for businesses averaging under €5 million in outstanding e-money. London's advantages need no selling: the deepest fintech talent pool in Europe, Faster Payments and agency-banking infrastructure, and a client market that pays for product quality.
The regime is mid-upgrade where it matters most: safeguarding. The FCA's PS25/12 - published 7 August 2025 - rebuilt the rules protecting client funds, with the interim (supplementary) regime in force from 7 May 2026: strengthened record-keeping, monthly-grade reporting and CASS-style discipline, with a full CASS regime to follow. Since Brexit there is no EU passport - a UK EMI serves the UK market, and EU operations run through a separate EU licence (Lithuania is our usual pairing). We run the whole path - company, file, authorisation, safeguarding architecture - from our own London office at 7 Bell Yard.
The fintech capital: FCA EMI authorisation at €350,000 capital, small-EMI under €5M outstanding, three-month clock for complete files.
Safeguarding rebuilt: PS25/12 interim rules live 7 May 2026, CASS end-state ahead. No EU passport - pair with Vilnius.
The two routes
Authorised EMI - or the small-EMI registration.
Full authorisation with €350,000 capital for scale, or the small-EMI registration under the €5M average-outstanding threshold. Same regulator, different depth. We fix the route first, then build once.
Authorised EMI for scale; small-EMI registration under the threshold. Same regulator, different depth.
01 - AUTHORISED EMI
Full FCA authorisation
E-money issuance and the full payment-services list at UK scale - €350,000 initial capital, ongoing own funds, and the safeguarding architecture the 2026 rules now demand.
E-money issuance and the full payment-services list at UK scale - €350,000 initial capital, ongoing own funds, and the safeguarding architecture the 2026 rules now demand.
- ✓E-money issuance and distribution
- ✓Full payment-services list alongside
- ✓€350,000 initial capital · own funds ongoing
- ✓3-month statutory clock - when complete
- ✓Safeguarding under the 2026 regime
- ✓Agency and distribution networks supported
02 - SMALL EMI & THE 2026 REGIME
CASS 15 - live 7 May 2026The on-ramp - and the upgrade
Small-EMI registration for models under €5M average outstanding e-money - no initial-capital floor at the threshold - plus the safeguarding rebuild every UK payments firm must now implement.
Small EMI + the 2026 safeguarding regime. Records, reporting, audits, built in from day one.
- ✓Small EMI - under €5M avg outstanding
- ✓Registration route · lighter application
- ✓UK-only · upgrade path to authorisation
- ✓PS25/12 - interim rules from 7 May 2026
- ✓Strengthened records, reporting, audits
- ✓End-state CASS regime ahead - built in now
Costs and timelines are confirmed for your case before any work begins. FCA application fees follow its published schedule; capital, safeguarding architecture and substance are itemised in your quote.
Why the UK
The deepest market in European fintech.
The framework is the EMRs 2011 and PSRs 2017 under the FCA. Inside the ecosystem where the industry's playbook was written.
✓
The fintech capital
London's talent, capital and infrastructure built the modern e-money industry. The hires, banks, processors and advisors a licensed EMI needs are all within a mile of each other.Talent, rails and clients in one square mile.
✓
A serious, navigable regulator
The FCA publishes its expectations, runs statutory clocks and takes meetings. Demanding but predictable, with a register that means something to banks and enterprise clients worldwide.Published expectations, statutory clocks.
✓
The 2026 safeguarding reset
PS25/12's rules. Live from 7 May 2026. Raise the bar on client-fund protection. Firms that build the architecture properly turn compliance into a sales asset with corporate clients.Compliance as a sales asset.
✓
Faster Payments and agency rails
The UK's payment infrastructure. FPS, agency banking, direct scheme access routes. Is the most developed in Europe; licensed EMIs plug into rails that simply work.Infrastructure that simply works.
✓
A market that pays
UK consumers and businesses adopt fintech faster than any large European market. The licence opens customers, not just compliance.Fastest fintech adoption in Europe.
✓
The short Brexit answer
No EU passport. A UK EMI is a UK play. Groups serving both markets run UK + EU licences in parallel; our London and Vilnius offices are exactly that pairing.UK play. Pair with an EU licence.
How it compares
How the UK differs from other routes.
The UK trades the EU passport for the deepest single market in European fintech. The full comparison is below.
United Kingdom vs other jurisdictions
| Feature |  United Kingdom | Other jurisdictions |
|---|---|---|
| Regulatory regime | EMRs 2011 - FCA | EMD2 national desks |
| Market | Europe's deepest fintech market | Smaller home markets |
| Safeguarding | 2026 CASS-style regime | Directive-baseline rules |
| EU passport | None - UK-only | EU/EEA on notification |
Regulatory regime
United KingdomEMRs 2011 - FCA
Other jurisdictionsEMD2 national desks
Market
United KingdomEurope's deepest fintech market
Other jurisdictionsSmaller home markets
Safeguarding
United Kingdom2026 CASS-style regime
Other jurisdictionsDirective-baseline rules
EU passport
United KingdomNone - UK-only
Other jurisdictionsEU/EEA on notification
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| United Kingdom | EMI (FCA) | 25% CIT · 19% small | Deep market, no EU passport |
 Lithuania | EMI (Bank of Lithuania) | 17% CIT (2026) | CENTROlink, specialised desk |
 Ireland | EMI (CBI) | 12.5% CIT trading | Thorough, 12+ months real |
 Switzerland | FINMA fintech licence | ~12-14% cantonal | Non-EU, deposit model |
United KingdomLicense typeEMI (FCA)
Taxation25% CIT · 19% small
RequirementsDeep market, no EU passport
LithuaniaLicense typeEMI (Bank of Lithuania)
Taxation17% CIT (2026)
RequirementsCENTROlink, specialised desk
IrelandLicense typeEMI (CBI)
Taxation12.5% CIT trading
RequirementsThorough, 12+ months real
SwitzerlandLicense typeFINMA fintech licence
Taxation~12-14% cantonal
RequirementsNon-EU, deposit model
Before you apply
Requirements for FCA authorisation.Requirements for FCA authorisation.
The FCA determines complete applications within three months, and incomplete ones within twelve. The checklist below is what a complete file contains.
01
UK entity. A limited company with its registered office and mind-and-management in the UK.
02
Initial capital - €350,000 for authorised EMIs, evidenced; small EMIs register under the €5M average-outstanding threshold.
03
Regulatory business plan. Services, volumes, three-year financials and unit economics the FCA can interrogate.
04
Fit & proper management and controllers. Approved persons, clean records, ownership to UBOs.
05
Safeguarding architecture. Segregation or insurance per the 2026 rules: designated accounts, daily reconciliation, records the interim regime demands.
06
AML/CFT framework. MLR-grade KYC, monitoring, SARs to the NCA, with an MLRO the FCA can interview.
07
IT and operational resilience. Architecture, outsourcing and incident frameworks to FCA expectations.
08
Wind-down plan. Credible, funded and documented.
09
Agency and distribution. Agent oversight frameworks where networks are used.
10
Consumer-duty alignment. The conduct layer the FCA reads across everything.
01
UK company, mind-and-management local.
02
€350,000 capital (authorised).
03
Interrogable regulatory business plan.
04
Approved persons and controllers.
05
Safeguarding per the 2026 rules.
06
MLR-grade AML with interviewable MLRO.
07
Operational resilience documentation.
08
Credible, funded wind-down plan.
09
Agent oversight where networks used.
10
Consumer-duty alignment throughout.
Reflects the EMRs 2011, PSRs 2017 and PS25/12 (interim safeguarding rules in force 7 May 2026) as of 2026.EMRs 2011 + PSRs 2017 + PS25/12 (7 May 2026), as of 2026.
How it works
From first call to the FCA register.
01
Route and strategy
Authorised or small EMI, UK-only or UK+EU pairing. Fixed in writing with capital and timeline.Authorised or small; UK or UK+EU.
02
UK company and people
Limited company, approved-person candidates and the MLRO the FCA interviews.Approved persons, MLRO.
03
The application file
Business plan, safeguarding design to the 2026 rules, AML and resilience packs. Complete, because completeness is the three-month clock.Complete = the 3-month clock.
04
FCA review
Question rounds and interviews - 3 months statutory when complete, 6-12 realistic. We answer every round.6-12 months realistic.
05
Authorisation and operation
Register entry, safeguarding live under the interim regime, launch, and the reporting calendar we can keep running.Safeguarding on, rails running.
Quick facts
RegulatorFCA
FrameworkEMRs 2011 · PSRs 2017
Authorised capital€350,000
Small EMI< €5M avg outstanding
Statutory clock3 months complete
Safeguarding rulesPS25/12 · 7 May 2026
Realistic timeline6-12 months
EU passportNone
The three-month clock runs from a complete application. The twelve-month clock from an incomplete one. The file decides which you get.
On the ground in London
Licensed from the city we work in.
Prifinance - United Kingdom
London · 7 Bell Yard
7 Bell Yard, London WC2A 2JR
01
UK company formation
Limited company, registered office and the governance the FCA expects. Structured for authorisation from day one.Structured for authorisation.
02
The authorisation file
Regulatory business plan, safeguarding architecture, AML pack and resilience documentation. Drafted by us and defended through the FCA's questions.Defended through FCA rounds.
03
The 2026 safeguarding build
Designated accounts, reconciliation and records to the interim rules. Implemented as architecture, not paperwork, ahead of the end-state CASS regime.Architecture, not paperwork.
04
UK + EU pairing
Where Europe matters: the EU EMI (usually Lithuania) structured alongside. One group, both markets, no wasted work.London + Vilnius, one group.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of payment companies in the UK.
Ordinary UK corporate taxation with VAT-exempt financial services, and the world's largest treaty network behind it.
Corporation tax 25%
The main rate, with 19% small-profits rate and marginal relief. Fee, margin and float income follows ordinary rules with full deductions.19% small profits; full deductions.
VAT-exempt payment services
Payment and e-money services are exempt financial services. The 20% standard rate touches ordinary supplies, with partial-exemption maths planned upfront.Partial exemption planned upfront.
R&D relief
The merged R&D scheme rewards genuine platform development. Payments engineering routinely qualifies; we document it defensibly.Platform engineering qualifies.
Payroll and talent
London prices are real, but so is the talent depth. Employment costs are modelled into the unit economics from the start.Priced into unit economics.
Safeguarded funds and float
Interest on safeguarded funds and float treatment follow established HMRC practice. Modelled per structure, not discovered at year-end.Settled practice, modelled.
130+ treaties
The world's largest treaty network keeps cross-border group structures predictable, and UK substance makes access real.The largest network.
Tax summary
Corporation tax25% · 19% small
VAT on payment servicesExempt
Standard VAT20%
R&D reliefMerged scheme
Dividend withholdingNone
Tax treaties130+
*Figures as of 2026. Partial exemption and float treatment drive real outcomes. We model both before launch.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: UK limited company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, FCA-authorised institution.
Follow Prifinance
Active across our channels.
United Kingdom · FCA
Launch your payment project in the UK with expert support.
Full-service assistance - from company registration to FCA authorisation and the 2026 safeguarding build.
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Is the UK the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The UK EMI licence - the questions we hear.
What licence does an e-money business need in the UK?+
FCA authorisation as an electronic money institution under the EMRs 2011 - €350,000 initial capital and the full application file - or small-EMI registration for models averaging under €5 million in outstanding e-money.
How long does FCA authorisation take?+
The statutory clock is three months from a complete application, and twelve from an incomplete one. Realistic end-to-end timelines run 6-12 months; the file's completeness decides which clock you are on.
What changed in safeguarding?+
The FCA's PS25/12 (7 August 2025) rebuilt the regime: interim (supplementary) rules in force from 7 May 2026 strengthen records, reconciliation and reporting, with a full CASS-style end-state to follow. Every UK payments firm must implement it - new applicants build it in from day one.
Does a UK EMI passport into the EU?+
No - passporting ended with Brexit. A UK EMI serves the UK; EU operations need an EU licence. The standard architecture is UK + Lithuania in parallel, and our London and Vilnius offices run exactly that pairing.
What substance does the FCA expect?+
A UK company with mind-and-management in the UK: approved persons and an interviewable MLRO, real safeguarding operations, and systems that meet the FCA's resilience expectations.
What is the small-EMI route good for?+
Launching under the €5M average-outstanding threshold with a lighter registration - proving the model in the UK market, then upgrading to full authorisation with a track record. UK-only, like the full licence.
How are payment companies taxed?+
Corporation tax at 25% (19% small profits), VAT-exempt payment services, the merged R&D scheme for platform development, and 130+ treaties. Partial exemption is planned upfront.
How do UK EMIs access payment rails?+
Through the UK's agency-banking market and direct scheme routes - Faster Payments access for non-banks is an established path. The rails plan is part of our build, not an afterthought.
Who should choose the UK?+
Groups whose customers are in the UK - consumer fintech, SME payments, corporate treasury, and global groups that want the FCA's stamp as their flagship. If your market is the EU, start in Vilnius; if it is both, run both.
Why the UK with you?+
Because we hold the pairing: our own offices in London and Vilnius, files on both desks, and the safeguarding architecture the 2026 rules demand - built once, correctly, from 7 Bell Yard.
What licence is needed?+
FCA EMI - €350k; small EMI under €5M.
How long?+
3 months complete; 6-12 realistic.
Safeguarding changes?+
PS25/12 - interim rules from 7 May 2026.
EU passport?+
No - pair with an EU (LT) licence.
Substance?+
UK management, MLRO, real operations.
Small EMI use?+
Launch under threshold; upgrade later.
Taxes?+
25%/19%; VAT-exempt services.
Rails?+
Agency banking + FPS routes.
Who fits?+
UK-market and flagship plays.
Why with us?+
London + Vilnius - both desks, one team.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which UK route fits your project and what it will cost.
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