Electronic Money Institution (EMI) License in Greece under Bank of Greece Regulation

To obtain a permit for the enterprise activities certain procedures must undergo. They are required to maintain the business model. Among them there are technical capacity, professional directors having an experience in the field of payment licenses and others.

Conditions for Payment Licenses Obtaining in Greece

It is issued to providers who meet the requirements for the starting capital – at least 350 thousand euros. Companies that are registered in the country must rent or purchase premises where their offices will be located, and hire at least three directors (legal entities are not allowed). Top management and shareholders or business owners must have a proven track record of similar projects deployment and work in the relevant field. The license for electronic money in Greece is granted after payment of the fee and is extended upon the paying in of the commission fees.

The company applying should enclose the following:

• a business model with an activity plan;
• a description of security procedures and a protection of customer information, management and control mechanisms;
• a confirmation of an availability of anti-money laundering tools in accordance with the European MLD directive;
• identification information on the company’s shareholders, a proof of financial capabilities – a specific list of documents can be changed by a decision of the licensing authority.

An organization that is required a license for electronic money in Greece can be founded in the form of analogs of closed and open joint-stock companies, companies with limited or unlimited liability. The declared capital is deposited at registration of the company. The data on the company are transferred to the open register. The payment license of Greece gives an access to the European financial services market, but for this it will be necessary to pass the certification procedure.

“Prifinance” is a Comprehensive Support for Payment Licenses Obtaining in Greece

“Prifinance” offers a range of services for e-money licenses obtaining in Greece. Employees consider each case individually, formulate an actions strategy based on customer requirements, help to select business forms and taxation models. We are ready to provide the following services to the licensed companies:

• registration of a business and related procedures performance – a rent of office premises, an opening of accounts, legalization of documents;
• the formation of a documents package under the requirements of regulators and EU directives – security policies, mechanisms to counter money laundering, model descriptions, business plans;
• a support of duties payment, payment of the authorized capital, a proof of the funds origin (if necessary);
• an assistance in filing of applications, monitoring of their consideration, licenses obtaining;
• a support of EMI tools, processing and other tools implementation.

Having a license, you can become a part of the European and global business communities, gain an access to a promising market of financial services. That is a chance to work effectively regardless of the location. “Prifinance” will undertake all the bureaucratic formalities, help save time and efforts, fulfill all the requirements in the shortest possible time. We minimize the risk of a dismissal to grant a license.