sPI, sEMI, PSP, API, and EMI licenses: what is needed for successful acquisition? Obtaining a financial license is a complex process that requires strict compliance with regulatory requirements and proper document preparation. Our company, Fintech Diligence s.r.o., specializes in assisting with the preparation of licenses for small payment institutions (sPI), small electronic money institutions (sEMI), payment service providers (PSP), authorized payment institutions (API), and electronic money institutions (EMI) in the Czech Republic and other European countries.
What is included in the license preparation process:
- Company registration in the Czech Republic.
- Verification of beneficiaries for compliance with AML (Anti-Money Laundering) requirements.
- Preparation of the complete document package for the license application.
- Detailed information on regulatory requirements.
- Development of a business model tailored to the client’s needs.
- An audit to ensure compliance with all regulatory requirements.
- Preparation of internal regulatory documents and procedures for submission to the Czech National Bank.
Timelines: The document preparation process takes about two months, and the review of the application by the regulator can last from 12 to 18 months, depending on the complexity of the case.
We offer full support at all stages of the licensing process, including consultation and the preparation of all necessary documents for a successful outcome.