Creditor and credit servicer authorisation

Credit servicer authorisation and its documents

Preparation of an application for authorisation as an Estonian credit servicer, and the documents it requires.

In short

Preparation of an application for authorisation as an Estonian credit servicer, and the documents it requires. The price is from €1,400, 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 servicing credit agreements for credit purchasers.

Price

Service	Price	Order
Estonian credit servicer authorisation (KIOS, Finantsinspektsioon)	from €24,000	Order
Business plan (KIOS § 8)	from €2,800	Order
Internal rules and internal control system (KIOS §§ 41–42)	from €3,600	Order
Complaints handling procedure (KIOS § 60)	from €1,700	Order
Fit and proper assessment of managers	from €2,400	Order
Qualifying holding information (KIOS § 29)	from €1,600	Order
Description of IT systems	from €1,800	Order
Payment account requirements (KIOS § 47)	from €1,400	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 authorisation as a credit servicer under KIOS (Directive (EU) 2021/2167)
Mandatory documents are added automatically: business plan (§ 8), internal rules and control (§§ 41–42), complaints (§ 60), fit and proper, qualifying holdings (§ 29), IT systems
Business plan, internal rules, complaints procedure, fit and proper and qualifying holding information, IT description, payment account documentation
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

Required documents are added with the application. 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

Process

You: Provide information, capital and people that meet the legal requirements; sign and answer the authority's questions.
LexorCorp: Prepare the application and its documents and manage the procedure until the decision.
Authority: Finantsinspektsioon decides.

How long it takes

Drafting 6–10 weeks; FSA term

Law and requirements

Credit Servicers and Credit Purchasers Act (KIOS)
Directive (EU) 2021/2167

General information about our service, not legal advice.

Questions and answers