A licensed company in Estonia, such as a payment institution, an e-money institution, a gambling operator or a fund structure, costs far more than an ordinary company. Much of that money is not a service fee. This guide explains the cost layers of a licensed-company project: our fee, the state fees, the capital the company must hold, and the running costs after authorisation. For each layer it shows where the numbers come from. Our own prices are those in the licensed companies section of our price list.
Layer 1: our service fee
| Company | Our price |
|---|---|
| Estonian payment institution | |
| Estonian e-money institution (EMI) | |
| Estonian casino / gambling company | |
| Estonian fund structure | |
| Estonian debt collection company | |
| Estonian lending company | |
| Estonian company with a transport (haulage) licence |
A "from" price is a starting price. The payment institution, EMI and gambling projects depend heavily on the business model, the ownership structure and the markets, so we quote them individually by email after you describe your plans. None of these services is sold through the online order form or paid online. You send a request through the quote form and receive a quote by email.
Layer 2: state fees
The authorities charge state fees for handling licence applications. The amount depends on the type of licence and the authority. State fees are not included in our prices and are charged separately. The Financial Supervision Authority handles payment institutions, e-money institutions and fund managers. Gambling licences are issued by the Tax and Customs Board. We name the fees that apply to your project in the quote.
Layer 3: capital the company must hold
For financial institutions the largest cost is often the capital itself. It is not a fee: the money belongs to the company, but it must be available and it must stay there. Under the EU rules that Estonia applies:
- a payment institution needs initial capital of at least 20,000 euros if it only provides money remittance, 50,000 euros if it only provides payment initiation services, and 125,000 euros for the other payment services;
- an e-money institution needs initial capital of at least 350,000 euros.
These are minimums. After authorisation the institution must also meet ongoing own-funds requirements that grow with its business. The payment institution guide and the EMI guide explain what each licence allows. Gambling operators and fund managers have their own capital and structure requirements, described in the gambling licence guide and the fund structure guide.
Layer 4: running costs after authorisation
A licence is a continuing obligation, not a one-off purchase. A regulated company has ongoing costs that an ordinary company does not have. Typical examples:
- people in key functions, such as the management board and the persons responsible for compliance and anti-money-laundering;
- internal rules, risk management and regular reporting to the supervisor;
- audits and supervision fees where the law requires them;
- accounting and the annual report, as for every Estonian company.
Plan these costs from the start. A business plan that covers only the application usually underestimates the real budget.
The smaller licensed companies
Debt collection, lending and transport-licence companies have fixed prices with us, and their requirements are lighter than those of a financial institution. State fees are still charged separately. See Debt collection, lending and transport licences for what each one requires.
How to get a quote
Choose the company type in the quote form. Describe the planned activity, the ownership structure and your timeline. We reply by email with a quote and the scope of work. No payment is taken on the request page. Licensing decisions are made by the authorities, so no provider can promise that a licence will be granted.
Related pages
- Licensed companies in the price list
- Licensed and regulated companies — the service page and quote form
- Full price list