Creditor and credit servicer authorisation
Estonian creditor licence (KAVS) — application preparation and management
Preparation and management of an application for an Estonian creditor licence.
In short
Preparation and management of an application for an Estonian creditor licence. The price is from €26,000, excluding VAT. How long it takes: drafting 6–10 weeks; FSA term. It is ordered and paid on micaconsult.com.
Who it is for
Companies granting consumer credit.
Price
| Service | Price | Order |
|---|---|---|
| Estonian creditor licence (KAVS) — application preparation and management | from €26,000 | Order |
All prices are in euros and exclude VAT. VAT is added where it applies under the Estonian Value Added Tax Act.
What the price includes
- Application for an activity licence as a creditor under KAVS
- Management of the FSA's questions
- Business plan
- Internal rules and consumer protection documents
- Application file
Not included in the price
- State fees
- IT systems
State and notary fees
State fees and the fees of the supervisory authority are not included in the price; you pay them yourself.
- State fee for the licence application
- Annual supervision fee
Requirements
Fit and proper management and own funds are required. Ordered and paid on this page; the amount is our fee for the standard scope, and work beyond it is done only with your written agreement. FIU licence FIU000117 is LexorCorp's own licence for its trust and company services; it does not authorise the client. The authorisation is granted or refused by the competent authority — no service provider can promise it.
Before we start
- Estonian company
- Own funds / share capital required by the Act
- Fit and proper management
Documents and information we need from you
- Articles of association and registry extract of the applicant
- Proof of registered office and place of management in Estonia (lease, premises)
- Organisational chart, staffing plan and job descriptions of key functions (compliance, risk management, internal audit, AML officer)
- For each management board and supervisory board member: CV, copy of passport, criminal record certificate(s) from every country of residence in the last 10 years, declaration on fitness and propriety (investigations, dismissals, insolvencies, sanctions), evidence of qualifications and experience, time commitment and conflicts of interest
- For each qualifying holder (10 % or more, direct or indirect): identity, ownership chart up to the ultimate beneficial owners, source of funds for the capital, financial statements (legal persons), fit-and-proper declaration and criminal record
- Product description, target customers, credit volumes
- Funding sources
How long it takes
Drafting 6–10 weeks; FSA term
Law and requirements
- Creditors and Credit Intermediaries Act
General information about our service, not legal advice.
Cost and time at a glance
| Our fee | from €26,000 — the fee for the standard scope, paid when you order |
|---|---|
| Fee of the authority | paid by you to the authority, not part of our fee:
|
| Our drafting | usually 6–10 weeks, depending on how complete your information is |
| Time of the authority | the authority's own statutory term applies; we do not control it |
| Decision | made by the authority alone; no outcome is promised |
How a creditor licence application works
Your consumer credit product
You: You describe the consumer credit you will grant: the products, target customers and expected volumes.
We: We confirm that the activity needs a creditor licence under the Creditors and Credit Intermediaries Act.
Order on the credit licensing page
You: You order the creditor licence application on the credit licensing page.
We: We check the company, its owners and the funding sources as part of our due diligence.
Responsible lending rules
You: You tell us how you will assess a borrower's creditworthiness.
We: We write the creditworthiness assessment and responsible lending rules and the complaints procedure.
Agreements and business plan
You: You review the credit agreement templates and the pre-contractual information for your products.
We: We draft the business plan, the internal rules and the internal control system.
Submission
You: You sign the application together with your managers' fit and proper documents.
We: We submit the creditor licence file to Finantsinspektsioon; drafting up to this point takes 6–10 weeks.
The authority's questions
You: You clarify your lending model when the authority asks.
We: We manage the authority's questions for you and draft every response.
Decision on the licence
You: You receive the decision on the creditor licence.
We: We can neither grant nor promise it; Finantsinspektsioon alone decides on a creditor licence.
Questions and answers
Estonian creditor licence: what does it cost?
From €26,000, excluding VAT. State fees and the fees of the supervisory authority are not included in the price; you pay them yourself.
Estonian creditor licence: who is it for?
Companies granting consumer credit.
Estonian creditor licence: how long does it take?
Drafting 6–10 weeks; FSA term
What is not included in the price?
State fees; IT systems.
Who makes the decision?
Finantsinspektsioon decides.
Related services and add-ons
- Lending documents and policies — from €1,800
- Supervisory reporting — from €2,400 / year
- Introduction to a debt collection partner — from €2,500
Part of
- Creditor and credit servicer authorisation — from €24,000
Order: Estonian creditor licence · from €26,000 See it in the price list