Licensed and regulated companies
Package C — establishment and licensing of a credit institution in Estonia or Bulgaria
Package C: regulatory documentation and project coordination for establishing a new credit institution (bank) in Estonia or Bulgaria.
In short
Package C: regulatory documentation and project coordination for establishing a new credit institution (bank) in Estonia or Bulgaria. The price is from €175,000, excluding VAT. How long it takes: the project timetable is agreed together with the final fee before the service agreement. It is ordered and paid on micaconsult.com.
Who it is for
Clients seeking an independently authorised banking institution. Whether a banking licence is needed depends on the actual business model: the intention to arrange SBLC or LC transactions does not automatically mean that a bank must be established.
Price
| Service | Price | Order |
|---|---|---|
| Package C — establishment and licensing of a credit institution in Estonia or Bulgaria | from €175,000 | 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
- Package C: regulatory documentation and project coordination for establishing a new credit institution (bank) in Estonia or Bulgaria.
- Incorporation documentation, banking licence application and supporting documents, three-year business plan and financial projections
- Shareholder, beneficial ownership, capital and own funds documentation; suitability files of management, supervisory board and key function holders
- Corporate governance, capital and own funds management, ICAAP and ILAAP frameworks, liquidity, credit, counterparty and operational risk documentation
- AML/CTF, KYC, sanctions, compliance and internal audit frameworks; guarantee, SBLC and LC procedures
- Information security and DORA documentation, business continuity and crisis plans, outsourcing, remuneration and conflicts of interest policies, regulatory reporting procedures
- Compilation of the application dossier and coordination with local legal and regulatory specialists
Not included in the price
- Regulatory capital
- Official licensing fees
- Independent legal and audit services
- Management, personnel, premises and banking IT
State and notary fees
State fees and the fees of the supervisory authority are not included in the price; you pay them yourself.
Requirements
The final professional fee is agreed according to the country and the banking business model before the service agreement — ordered by a price request. Initial regulatory capital is generally at least five million euros; qualified management, independent control functions, genuine premises and personnel and suitable banking IT systems are required. The competent supervisory authorities decide on the authorisation and set its time; final submission readiness depends on capital verification, suitability assessments, independent confirmations and the operational arrangements. No service provider can promise the authorisation.
Before we start
- The final professional fee is agreed according to the country and the banking business model before the service agreement — ordered by a price request. Initial regulatory capital is generally at least five million euros; qualified management, independent control functions, genuine premises and personnel and suitable banking IT systems are required. The competent supervisory authorities decide on the authorisation and set its time; final submission readiness depends on capital verification, suitability assessments, independent confirmations and the operational arrangements. No service provider can promise the authorisation.
Documents and information we need from you
- Provide capital, people, premises, IT and the source information; sign.
Process
- You: Provide capital, people, premises, IT and the source information; sign.
- LexorCorp: Prepare the regulatory documentation and coordinate the project.
- Authority: The competent supervisory authority decides (in Estonia: Finantsinspektsioon with the European Central Bank).
How long it takes
The project timetable is agreed together with the final fee before the service agreement. The competent supervisory authorities set the time of the authorisation procedure; final submission readiness depends on capital verification, suitability assessments, independent confirmations and the operational arrangements.
Law and requirements
- Credit Institutions Act (Estonia)
- Regulation (EU) No 575/2013 and Directive 2013/36/EU
- Regulation (EU) 2022/2554 (DORA)
General information about our service, not legal advice.
Questions and answers
Package C: what does it cost?
From €175,000, excluding VAT. State fees and the fees of the supervisory authority are not included in the price; you pay them yourself.
Package C: who is it for?
Clients seeking an independently authorised banking institution. Whether a banking licence is needed depends on the actual business model: the intention to arrange SBLC or LC transactions does not automatically mean that a bank must be established.
Package C: how long does it take?
The project timetable is agreed together with the final fee before the service agreement. The competent supervisory authorities set the time of the authorisation procedure; final submission readiness depends on capital verification, suitability assessments, independent confirmations and the operational arrangements.
What is not included in the price?
Regulatory capital; Official licensing fees; Independent legal and audit services; Management, personnel, premises and banking IT.
Who makes the decision?
The competent supervisory authority decides (in Estonia: Finantsinspektsioon with the European Central Bank).
Part of
- Licensed and regulated companies — from €3,500