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EMI licence
in the United Kingdom
Although Brexit has introduced certain challenges for fintechs based in the UK, UK is till favoured by clients due to its regulator's - Financial Conduct Authority (FCA) - principle based approach as opposed to the continental rule based approach.
As of 28th September 2020 there were 198 authorised Electronic Money Institutions, and 32 Small Electronic Money Institutions in the UK. This is the highest number among all other jurisdictions in the EAA.
Timeframe for obtainment of the licence: up to 9-12 months
Depending on your needs S4Compliance will provide you with all or several of the below listed services:
1. Company registration​​
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Preparation and submission of the application for the registration of the company with Companies House;
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Registered address (without physical acceptance of mail).
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2. Obtainment of the licence
S4Compliance will assist you during the entire licence obtainment process incl.:
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Preparation of the application for submission with the FCA;
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Preparation of all documents that need to accompany the application incl. programme of operations, business plan, description of measures taken (to be taken) for safeguarding consumer funds, description of governance arrangements and internal control mechanisms, description of the structural organisation and other;
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Submission of the AEMI registration application with the FCA;
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Communication with the FCA and submission of additional information upon request.
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