Licensed by the Estonian FIU · FIU000117Operating since 2014Punane 6, Tallinn

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LexorCorp Global

Guide series

Estonian EMI and payment institution licence

A payment institution and an e-money institution are authorised by the Estonian Financial Supervision Authority. The authority reviews the application, usually asks questions and requests additional information, and then decides; the institution must hold the initial capital required for its services. This series covers the application and what the institution needs around it.

The series, in reading order

  1. E-money institutionEstonian e-money institution (EMI) licenceWhat an Estonian electronic money institution (EMI) licence allows, how it differs from a payment institution and the main stages. Quote on request.
  2. Payment institutionEstonian payment institution licenceWhat an Estonian payment institution licence allows, who needs one and the main stages of authorisation with the Financial Supervision Authority.
  3. AML rules and safeguardingAML rules and safeguarding for licensed companiesThe AML/CFT framework, customer-funds safeguarding and responsible gambling documents that Estonian payment, e-money and gambling licences depend on.
  4. Bank accountBank account for a licensed companyWhy payment institutions, EMIs, crypto-asset service providers, credit servicers and MSBs need specific accounts, why banks refuse and how to prepare.
  5. Banking and payment partnersBanking and payment partners for fintechsWhat payment institutions, CASPs and card programmes need from banks, why onboarding fails, and how introductions to banks, IBANs and BIN sponsors work.
  6. Operational resilience (DORA)DORA: ICT risk framework and register of informationWhat Regulation (EU) 2022/2554 (DORA) requires from payment and e-money institutions, CASPs and fund managers, proportionality, and the register of information.
  7. Compliance auditCompliance audit for regulated firmsWhen a regulated firm needs an internal compliance review, the three scope classes, the method and report, and the remediation plan after the findings.
  8. State fees and capitalState fees and capital for EU licencesOfficial state fees and minimum capital for MiCA, payment and e-money institutions, fund managers, creditors, gambling, transport and Canada MSB.
  9. What the application costsWhat a licensed company in Estonia really costsThe cost layers of an Estonian licensed company: our fee, state fees, the initial capital a payment or e-money institution must hold, and running costs.

Licensed companies: process, fee and state fees Start the assessment

The guides are general information about the law and our services, not legal advice. Other series: Estonian MiCA licence · Estonian AIFM licence. All guides.