Obtaining an Electronic Money Institution (EMI) license is an important step for companies that want to provide financial services. There are several countries in the world that offer favorable conditions for obtaining an EMI license.
Lithuania
Lithuania is one of the most attractive countries for obtaining an emoney license. It actively develops the fintech ecosystem and offers favorable conditions for new companies. The main advantages:
- A quick licensing procedure. In Lithuania, the process of obtaining a license takes about 3-4 months, which is much faster than in other countries.
- Loyal capital requirements. To obtain an EMI license, you must have a minimum authorized capital of 350,000 euros.
- Flexible regulation. The Lithuanian Central Bank actively cooperates with fintech companies, helping them adapt to local requirements.
Lithuania is also a part of the European Union, which opens up access to the European market and allows you to use the license in other EU countries. This makes the country attractive for companies that want to start providing financial services quickly and legally.
Malta
Malta is another jurisdiction popular among fintech companies. The island state offers flexible business conditions and actively supports the development of financial technologies. The main features of obtaining a license in Malta:
- Loyal tax conditions. Malta offers low tax rates for international companies, which makes the country attractive for business.
- High level of data protection. Local legislation strictly regulates security and privacy issues, which is important for fintech companies.
- A simple procedure for obtaining a license. The licensing process takes about 6 months, and the minimum capital requirements are 350,000 euros.
Thanks to flexible tax conditions and government support, Malta remains one of the leading jurisdictions for obtaining an EMI license.
Cyprus
Cyprus is known for its favorable business climate and simple company registration procedures. Despite its small size, the country attracts many fintech companies. Advantages of obtaining an EMI license in Cyprus:
- Low capital requirements. To obtain a license, you need to have a minimum capital of 350,000 euros.
- Simplified registration. The company registration process takes only a few weeks, and obtaining a license takes about 6 months.
- European integration. Like Lithuania, Cyprus is a member of the EU, which allows companies to operate in the European market.
Cyprus also offers favorable tax conditions and minimum requirements for the presence of offices and employees in the country, which simplifies operational activities.
Irish
Ireland is one of the leading countries for obtaining an EMI license. There are many international companies here, including the largest fintech startups. Why Ireland is worth considering:
- High standards of regulation. Irish law clearly regulates the activities of fintech companies, providing a high level of protection for customers.
- An attractive tax system. Ireland offers one of the lowest income tax rates among EU countries.
- Fast integration into the market. After obtaining a license, companies can quickly start operating in the European market.
- Although the procedure for obtaining a license in Ireland can take up to 12 months, this is offset by favorable tax conditions and a high level of trust in the local jurisdiction.
When choosing a jurisdiction to obtain an EMI license, it is important to take into account not only the capital requirements and licensing deadlines, but also the general support of the state in regulating fintech companies. Lithuania, Malta, Cyprus and Ireland offer favorable business conditions, which makes them attractive for companies seeking to obtain a license and enter the European market.