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.
For a crypto-asset service provider, the free MiCA capital calculator shows the class, the minimum capital and the own funds MiCA requires.
Layer 1: our service fee
| Company | Our price |
|---|---|
| Estonian payment institution | from €16,000 |
| Estonian e-money institution (EMI) | from €23,000 |
| Estonian casino / gambling company | from €23,000 |
| Estonian fund structure | €18,000 |
| Estonian debt collection company | €3,500 |
| Estonian lending company | €3,500 |
| Estonian company with a transport (haulage) licence | €3,500 |
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 their prices are starting prices: the amount is our fee for the standard scope, and work beyond it is agreed in writing before it starts. You order through the order form and pay by card; the total is shown before you pay.
Layer 2: state fees
The authorities charge state fees for handling licence applications. The amount depends on the type of licence and the authority. For financial and gambling licences these fees are not included in our prices and are paid by you. 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 writing before the work starts. Our guide to state fees and capital for EU licences lists the official fees and capital minimums with links to the law.
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 Estonian Payment Institutions and E-money Institutions Act, which applies the EU rules:
- a payment institution needs share or initial capital of at least 20,000 euros if it provides only money remittance, 50,000 euros if it provides payment initiation services, and 125,000 euros if it provides any of the other payment services (§ 64(1) of the Act, Riigi Teataja; Article 7 of Directive (EU) 2015/2366, EUR-Lex);
- an e-money institution needs share or initial capital of at least 350,000 euros (§ 64(2) of the Act; Article 4 of Directive 2009/110/EC, EUR-Lex).
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. Their fixed prices include the Estonian notary fees and state fees; the road transport licence package also includes the licence fee, so you pay nothing extra. See Debt collection, lending and transport licences for what each one requires.
How to order
Choose the company type in the order form. Describe the planned activity, the ownership structure and your timeline. We confirm the scope of work by email before the work starts. The total is shown before you pay, and work beyond the standard scope is agreed in writing before it starts. 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 order form
- Full price list
Official sources
The laws this article names, each linked to its official text, as read on 9 October 2026. For the Estonian acts we read the English translation in Riigi Teataja (opens in a new tab); the legally binding text is the Estonian one.
- Payment Institutions and E-money Institutions Act (opens in a new tab) — Riigi Teataja (opens in a new tab), English translation
- Directive (EU) 2015/2366 (opens in a new tab) — EUR-Lex
Sources in the text are named without links; the official texts are linked under Official sources. To see which of our services your company needs, open the Business Navigator.