[{"id":"bank--AE--commercial","family":"bank","jurisdiction":"AE","regulator_id":"cbuae","official_name":{"value":"Commercial Bank Licence","source":"https://rulebook.centralbank.ae/en/entiresection/6185","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Banks and (Re)Insurance Companies shall take the form of public joint-stock companies"},"legal_basis":[{"value":"Federal Decree-Law No. (6) of 2025 Regarding the Central Bank, Regulation of Financial Institutions and Activities, and Insurance Business","source":"https://rulebook.centralbank.ae/en/entiresection/6185","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-federal-decree-law-6-2025"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Article 120 of Federal Decree-Law No. (6) of 2025, no person may acquire, transfer, or increase a controlling interest in a Licensed Financial Institution without obtaining prior written approval from the CBUAE. Controlling interest thresholds are established at 10% of shares or voting rights for Payment Token Service Providers (PTSR Circular 2/2024 Art. 1.17) and 20% for Retail Payment Service Providers (RPSCS Circular 15/2021 Art. 1 and Art. 8), or any holding conferring de facto control or board appointment rights. Unauthorised acquisitions are legally void, empowering the CBUAE to revoke voting rights and mandate the forced disposal of excess shares.","source":"https://rulebook.centralbank.ae/en/entiresection/6185","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No person may acquire or transfer any Controlling Interest in a Licensed Financial Institution"}},"register_url":{"value":"https://centralbank.ae/media/1z4gwagt/cb-register-june-2025.pdf","source":"https://centralbank.ae/media/1z4gwagt/cb-register-june-2025.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":"61 (June 2025 CBUAE register)","source":"https://centralbank.ae/media/1z4gwagt/cb-register-june-2025.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Commercial Bank Licence is issued by Central Bank of the UAE (CBUAE) under Federal Decree-Law No. (6) of 2025 Regarding the Central Bank, Regulation of Financial Institutions and Activities, and Insurance Business. The official register lists 61 current holders (June 2025 CBUAE register). Ownership changes need the regulator's approval before completion.","derived_from":"cbuae","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/uae-commercial/","jurisdiction_name":"United Arab Emirates","region":"middle-east","regulator_name":"CBUAE","regulator_url":"/licensing/regulators/cbuae/","family_short":"Bank","capital_eur":null,"months":null},{"id":"bank--AE-ADGM","family":"bank","jurisdiction":"AE-ADGM","regulator_id":"fsra-adgm","official_name":{"value":"Financial Services Permission for Accepting Deposits (Category 1 Commercial Bank)","source":"https://en.adgm.thomsonreuters.com/entiresection/7538","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"FSRA Prudential — Investment, Insurance Intermediation and Banking Rulebook (PRU)","source":"https://en.adgm.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-rulebook-pru-ver21160926","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-adgm-pru-rules"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"none","fees":{"application":{"value":"USD 70,000","source":"https://en.adgm.thomsonreuters.com/entiresection/7538","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Accepting Deposits ... USD 70,000"},"annual":{"value":"USD 100,000","source":"https://en.adgm.thomsonreuters.com/entiresection/7538","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Accepting Deposits ... USD 100,000"}},"timelines":{"statutory":{"value":"Within a reasonable time from submission of a complete application","source":"https://en.adgm.thomsonreuters.com/entiresection/12521","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for a Financial Services Permission within a reasonable time"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under FSMR section 105 and GEN 8.8, prior written approval from the FSRA is required before a person becomes a controller or increases control across 20%, 30%, or 50% thresholds. A controller is defined as holding 10% or more of voting rights or capital, or exercising significant influence. The statutory determination period is 90 days from receipt of a complete notice, accompanied by a USD 1,000 application fee.","source":"https://en.adgm.thomsonreuters.com/entiresection/7993","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 8.8.4 within 90 days"}},"register_url":{"value":"https://www.adgm.com/public-registers/fsra/firms","source":"https://www.adgm.com/public-registers/fsra/firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":8,"source":"https://www.adgm.com/public-registers/fsra/firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Active firms with Accepting Deposits activity"},"answer":"The Financial Services Permission for Accepting Deposits (Category 1 Commercial Bank) is issued by Financial Services Regulatory Authority (FSRA) under FSRA Prudential — Investment, Insurance Intermediation and Banking Rulebook (PRU). The official register lists 8 current holders. The legal decision period is Within a reasonable time from submission of a complete application. The application fee is USD 70,000. Ownership changes need the regulator's approval before completion.","derived_from":"fsra-adgm","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/adgm/","jurisdiction_name":"Abu Dhabi Global Market (ADGM)","region":"middle-east","regulator_name":"FSRA","regulator_url":"/licensing/regulators/fsra-adgm/","family_short":"Bank","capital_eur":null,"months":null},{"id":"bank--AE-DIFC","family":"bank","jurisdiction":"AE-DIFC","regulator_id":"dfsa-difc","official_name":{"value":"Financial Services Permission for Accepting Deposits or Providing Credit (Category 1 Commercial Bank)","source":"https://dfsaen.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-module-pib-ver5307-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Category 1 Firm is a Firm that: (a) Accepts Deposits"},"legal_basis":[{"value":"DFSA Rulebook — Prudential Investment, Insurance Intermediation and Banking Module (PIB)","source":"https://dfsaen.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-module-pib-ver5307-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-difc-pib-rules"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"none","fees":{"application":{"value":"USD 70,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Accepting Deposits: 70,000"},"annual":{"value":"USD 100,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Category 1 ... Standard: 100,000"}},"timelines":{"statutory":{"value":"No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay","source":"https://dfsaen.thomsonreuters.com/rulebook/regulatory-law-1","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Regulatory Law 2004 Article 59 and DFSA Rulebook General Module (GEN) Section 11.8, prior written approval from the DFSA is required before any person becomes a Controller, or increases their holding across 30% or 50% thresholds. A Controller is defined as someone holding 10% or more of shares or voting rights, or exercising significant influence over management. Under GEN 11.8.6, the DFSA must determine an application for approval of a change of control within 90 days of receipt of a duly completed application.","source":"https://dfsaen.thomsonreuters.com/rulebook/general-module-gen-ver7207-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 11.8.4 within 90 days"}},"answer":"The Financial Services Permission for Accepting Deposits or Providing Credit (Category 1 Commercial Bank) is issued by Dubai Financial Services Authority (DFSA) under DFSA Rulebook — Prudential Investment, Insurance Intermediation and Banking Module (PIB). The legal decision period is No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay. The application fee is USD 70,000.","derived_from":"dfsa-difc","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/difc/","jurisdiction_name":"Dubai International Financial Centre (DIFC)","region":"middle-east","regulator_name":"DFSA","regulator_url":"/licensing/regulators/dfsa-difc/","family_short":"Bank","capital_eur":null,"months":null},{"id":"bank--BM","family":"bank","jurisdiction":"BM","regulator_id":"bma-bermuda","official_name":{"value":"Banking Licence / Deposit Company Licence / Restricted Banking Licence (Banks and Deposit Companies Act 1999)","source":"https://www.bermudalaws.bm/Laws/Consolidated%20Law/1999/Banks%20and%20Deposit%20Companies%20Act%201999","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Banks and Deposit Companies Act 1999","source":"https://www.bermudalaws.bm/Laws/Consolidated%20Law/1999/Banks%20and%20Deposit%20Companies%20Act%201999","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["bm-banks-and-deposit-companies-act-1999"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Anyone intending to become a 10% (or majority) shareholder controller of a BMA-licensed undertaking, including a digital asset business, must first give the Authority written notice; the acquisition can proceed once the BMA confirms no objection, or once a statutory review period elapses without a written objection. Bermuda's regime also recognises a majority-controller threshold as a second trigger point.","source":"https://charltonsquantum.com/bermuda-digital-assets-regulation/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"must serve a written notice to the BMA"}},"answer":"The Banking Licence / Deposit Company Licence / Restricted Banking Licence (Banks and Deposit Companies Act 1999) is issued by Bermuda Monetary Authority (BMA) under Banks and Deposit Companies Act 1999. Ownership changes need the regulator's approval before completion.","derived_from":"bma-bermuda","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/bermuda/","jurisdiction_name":"Bermuda","region":"offshore","regulator_name":"BMA","regulator_url":"/licensing/regulators/bma-bermuda/","family_short":"Bank","capital_eur":null,"months":null},{"id":"bank--CH--fintech","family":"bank","jurisdiction":"CH","regulator_id":"finma-switzerland","official_name":{"value":"FinTech licence (Persons pursuant to Article 1b Banking Act / FinTech-Bewilligung nach Art. 1b BankG)","source":"https://www.finma.ch/en/authorisation/fintech/fintech-bewilligung/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Persons pursuant to Article 1b of the Banking Act"},"legal_basis":[{"value":"Federal Act on Banks and Savings Banks (Banking Act, BankA, SR 952.0)","source":"https://www.fedlex.admin.ch/eli/cc/51/117_121_129/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Ordinance on Banks and Savings Banks (Banking Ordinance, BankO, SR 952.02)","source":"https://www.fedlex.admin.ch/eli/cc/2014/273/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ch-banking-act","ch-banking-ordinance"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"none","fees":{"application":{"value":"CHF 100 to 500 per hour of work (Art. 8 FINMA-GebV)","source":"https://www.newsd.admin.ch/newsd/message/attachments/13277.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"annual":{"value":"CHF 3,000 fixed base levy (Art. 19e FINMA-GebV) plus supplementary levy based on balance sheet total and gross income (Art. 19f FINMA-GebV)","source":"https://www.fedlex.admin.ch/eli/cc/2008/749/de","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Die Grundabgabe beträgt 3000 Franken je Person nach Artikel 1 b BankG pro Jahr"}},"timelines":{"statutory":{"value":"No statutory decision deadline prescribed in Swiss administrative law (FINMA examines applications once complete documentation and regulatory audit report are submitted)","source":"https://www.finma.ch/en/authorisation/fintech/fintech-bewilligung/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"FINMA will process the application once it is complete."}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"A qualifying participation is defined as directly or indirectly holding at least 10% of the capital or voting rights, or otherwise exerting a significant influence over the company (BankA Art. 3 para. 2 let. c; FinIA Art. 11 para. 1). Notification to FINMA is mandatory prior to acquiring, disposing of, or reaching, exceeding, or falling below the statutory thresholds of 10%, 20%, 33%, or 50% (BankA Art. 3 para. 5; BankO Art. 8a; FinIA Art. 11 para. 4). For FinTech licence holders (Art. 1b BankA), FINMA's FinTech Licensing Guidelines explicitly mandate prior formal approval before completing any change in qualified participations. Furthermore, when foreign control is established or modified in a Swiss bank or securities firm, a supplementary licence (Zusatzbewilligung) is mandatory under BankA Art. 3bis. For SRO-affiliated financial intermediaries, Art. 6 para. 2 of SRO regulations (e.g. VQF) mandates prior written notice and SRO approval before transferring qualified holdings.","source":"https://www.finma.ch/en/authorisation/fintech/fintech-bewilligung/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Changes to qualified participations require prior approval"}},"register_url":{"value":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/fintech.pdf","source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/fintech.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":6,"source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/fintech.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Bewilligte Personen nach Artikel 1b BankG"},"answer":"The FinTech licence (Persons pursuant to Article 1b Banking Act / FinTech-Bewilligung nach Art. 1b BankG) is issued by Swiss Financial Market Supervisory Authority (FINMA) under Federal Act on Banks and Savings Banks (Banking Act, BankA, SR 952.0). The official register lists 6 current holders. The legal decision period is No statutory decision deadline prescribed in Swiss administrative law (FINMA examines applications once complete documentation and regulatory audit report are submitted).","derived_from":"finma-switzerland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/switzerland-fintech/","jurisdiction_name":"Switzerland","region":"europe-non-eu","regulator_name":"FINMA","regulator_url":"/licensing/regulators/finma-switzerland/","family_short":"Bank","capital_eur":null,"months":null},{"id":"bank--CH","family":"bank","jurisdiction":"CH","regulator_id":"finma-switzerland","official_name":{"value":"Banking licence (Bankbewilligung nach Art. 3 BankG)","source":"https://www.finma.ch/en/authorisation/banks-and-securities-firms/getting-licensed/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Banks and securities firms"},"legal_basis":[{"value":"Federal Act on Banks and Savings Banks (Banking Act, BankA, SR 952.0)","source":"https://www.fedlex.admin.ch/eli/cc/51/117_121_129/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Ordinance on Banks and Savings Banks (Banking Ordinance, BankO, SR 952.02)","source":"https://www.fedlex.admin.ch/eli/cc/2014/273/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ch-banking-act","ch-banking-ordinance"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"none","timelines":{"statutory":{"value":"No fixed calendar deadline under Swiss administrative law (BankA contains no statutory expiry clock)","source":"https://www.fedlex.admin.ch/eli/cc/51/117_121_129/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Federal Act on Banks and Savings Banks"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"A qualifying participation is defined as directly or indirectly holding at least 10% of the capital or voting rights, or otherwise exerting a significant influence over the company (BankA Art. 3 para. 2 let. c; FinIA Art. 11 para. 1). Notification to FINMA is mandatory prior to acquiring, disposing of, or reaching, exceeding, or falling below the statutory thresholds of 10%, 20%, 33%, or 50% (BankA Art. 3 para. 5; BankO Art. 8a; FinIA Art. 11 para. 4). For FinTech licence holders (Art. 1b BankA), FINMA's FinTech Licensing Guidelines explicitly mandate prior formal approval before completing any change in qualified participations. Furthermore, when foreign control is established or modified in a Swiss bank or securities firm, a supplementary licence (Zusatzbewilligung) is mandatory under BankA Art. 3bis. For SRO-affiliated financial intermediaries, Art. 6 para. 2 of SRO regulations (e.g. VQF) mandates prior written notice and SRO approval before transferring qualified holdings.","source":"https://www.finma.ch/en/authorisation/fintech/fintech-bewilligung/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Changes to qualified participations require prior approval"}},"register_url":{"value":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/beh.pdf","source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/beh.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":208,"source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/beh.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Banken und Effektenhändler"},"answer":"The Banking licence (Bankbewilligung nach Art. 3 BankG) is issued by Swiss Financial Market Supervisory Authority (FINMA) under Federal Act on Banks and Savings Banks (Banking Act, BankA, SR 952.0). The official register lists 208 current holders. The legal decision period is No fixed calendar deadline under Swiss administrative law (BankA contains no statutory expiry clock). Ownership changes need the regulator's approval before completion.","derived_from":"finma-switzerland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/switzerland/","jurisdiction_name":"Switzerland","region":"europe-non-eu","regulator_name":"FINMA","regulator_url":"/licensing/regulators/finma-switzerland/","family_short":"Bank","capital_eur":null,"months":null},{"id":"bank--CZ","family":"bank","jurisdiction":"CZ","regulator_id":"cnb-czechia","official_name":{"value":"Commercial Bank licence (bankovní licence)","source":"https://www.cnb.cz/en/supervision-financial-market/conduct-of-supervision/licensing-and-approval-proceedings/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Banks"},"legal_basis":[{"value":"Act No. 6/1993 Coll. on the Czech National Bank","source":"https://www.e-sbirka.cz/sb/1993/6","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Act No. 21/1992 Coll. on Banks","source":"https://www.zakonyprolidi.cz/cs/1992-21","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["cz-act-on-the-czech-national-bank","cz-act-on-banks-1992"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","fees":{"application":{"value":"CZK 200,000","source":"https://www.zakonyprolidi.cz/cs/2004-634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"bankovní licence bance se sídlem na území České republiky Kč 200000"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance.","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Osoba nebo osoby jednající ve shodě oznámí předem České národní bance svůj záměr"}},"register_url":{"value":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":21,"source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Banks 21 22 21"},"answer":"The Commercial Bank licence (bankovní licence) is issued by Czech National Bank (CNB) under Act No. 6/1993 Coll. on the Czech National Bank. It can be passported to the other EU/EEA states by notification. The official register lists 21 current holders. The application fee is CZK 200,000. Ownership changes need the regulator's approval before completion.","derived_from":"cnb-czechia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/czech-republic/","jurisdiction_name":"Czech Republic","region":"eu-eea","regulator_name":"CNB","regulator_url":"/licensing/regulators/cnb-czechia/","family_short":"Bank","capital_eur":null,"months":null},{"id":"bank--DE","family":"bank","jurisdiction":"DE","regulator_id":"bafin-germany","official_name":{"value":"Credit institution licence (Erlaubnis zum Betreiben von Bankgeschäften nach § 32 KWG / CRR)","source":"https://www.gesetze-im-internet.de/kredwg/__32.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Erteilung der Erlaubnis (1) Wer im Inland gewerbsmäßig oder in einem Umfang"},"legal_basis":[{"value":"German Banking Act (Kreditwesengesetz - KWG)","source":"https://www.gesetze-im-internet.de/kredwg/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013R0575","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2013/36/EU on access to the activity of credit institutions and prudential supervision (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["de-banking-act","eu-crr-575-2013","eu-crd-2013-36"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","fees":{"application":{"value":"nach Zeitaufwand (billed based on staff time spent)","source":"https://www.gesetze-im-internet.de/findagebv/anlage.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"5.1.12.2.1 Erteilung der Erlaubnis zum Betreiben von einzelnen oder mehreren Bankgeschäften nach Zeitaufwand"},"annual":{"value":"EUR 6,336","source":"https://www.gesetze-im-internet.de/findagebv/anlage.html","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"6 months from receipt of complete application, maximum 12 months overall","source":"https://www.gesetze-im-internet.de/kredwg/__33.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"binnen sechs Monaten nach Einreichung der vollständigen Unterlagen für einen Erlaubnisantrag nach § 32"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining control of a credit institution, payment institution, or investment firm, requires prior written notification to BaFin and the Deutsche Bundesbank. BaFin conducts an assessment of acquirer reliability, professional competence, financial soundness, and money laundering risks within 60 working days from receipt of a complete filing, interruptible once by up to 20 working days (or 30 working days if non-EEA) to request additional information, under Section 2c KWG, applied mutatis mutandis to payment and e-money institutions via Section 14 ZAG and to investment firms via Section 24 WpIG.","source":"https://www.gesetze-im-internet.de/kredwg/__2c.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"innerhalb von 60 Arbeitstagen ab dem Datum des Schreibens ... zu beurteilen"}},"register_url":{"value":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=30&sucheButtonInstitut=Suche","source":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=30&sucheButtonInstitut=Suche","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":1217,"source":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=30&sucheButtonInstitut=Suche","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"1,217 Elemente gefunden"},"answer":"The Credit institution licence (Erlaubnis zum Betreiben von Bankgeschäften nach § 32 KWG / CRR) is issued by Federal Financial Supervisory Authority (BaFin) under German Banking Act (Kreditwesengesetz - KWG). It can be passported to the other EU/EEA states by notification. The official register lists 1217 current holders. The legal decision period is 6 months from receipt of complete application, maximum 12 months overall. Ownership changes need the regulator's approval before completion.","derived_from":"bafin-germany","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/germany/","jurisdiction_name":"Germany","region":"eu-eea","regulator_name":"BaFin","regulator_url":"/licensing/regulators/bafin-germany/","family_short":"Bank","capital_eur":null,"months":6},{"id":"bank--EE","family":"bank","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Credit institution authorisation (bank)","source":"https://www.fi.ee/en/banking-and-credit/applying-activity-licences/operating-licence-credit-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Application for credit institution authorisation"},"legal_basis":[{"value":"Credit Institutions Act","source":"https://www.riigiteataja.ee/en/akt/509072025008","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013R0575","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ee-credit-institutions-act","eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 5,000","source":"https://www.riigiteataja.ee/en/akt/529072025004","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"Within 6 months after receipt of complete documentation, and not later than 12 months after initial application receipt (decision taken by the ECB upon proposal by Finantsinspektsioon)","source":"https://www.fi.ee/en/banking-and-credit/applying-activity-licences/operating-licence-credit-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within six months after receipt of all the necessary documents and information"},"observed":{"value":"6 to 12 months in practice depending on document readiness and joint European Central Bank review","source":"https://www.fi.ee/en/banking-and-credit/applying-activity-licences/operating-licence-credit-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"It takes 6-12 months to process the application for authorisation as a bank."}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/supervised-entities?closed=1&st[29]=29","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[29]=29","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":8,"source":"https://www.fi.ee/en/supervised-entities?closed=1&st[29]=29","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed credit institutions in Estonia"},"answer":"The Credit institution authorisation (bank) is issued by Finantsinspektsioon (FI) under Credit Institutions Act. It can be passported to the other EU/EEA states by notification. The official register lists 8 current holders. The legal decision period is Within 6 months after receipt of complete documentation, and not later than 12 months after initial application receipt (decision taken by the ECB upon proposal by Finantsinspektsioon). The application fee is EUR 5,000.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/estonia/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"Bank","capital_eur":null,"months":6},{"id":"bank--ES","family":"bank","jurisdiction":"ES","regulator_id":"banco-de-espana","official_name":{"value":"Entidad de crédito (Banco) / Commercial bank licence","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2014-6726","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"entidades de crédito"},"legal_basis":[{"value":"Directive 2013/36/EU on access to the activity of credit institutions and prudential supervision (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013R0575","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 0 national fee (Credit institution licensing instruction by Banco de España does not accrue a national administrative fee; significant institutions pay ECB supervisory levies)","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2014-6726","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application (or within 12 months from initial filing; silence implies rejection)","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2014-6726","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"seis meses siguientes a la recepción de la solicitud o al momento en que se"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person intending to acquire or increase, directly or indirectly, a qualifying holding reaching or exceeding 10%, 20%, 30%, or 50% of the share capital or voting rights, or to acquire control of an electronic money institution, payment institution, or credit financial establishment, must submit prior notification to Banco de España under Procedure ES_BDE_C056_P247 (or ES_BDE_C056_P114 for banks). Banco de España assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory maximum period of 60 working days from written acknowledgement of receipt. Closing without non-opposition suspends voting rights and triggers administrative penalties under Ley 10/2014 and Real Decreto 736/2019.","source":"https://sedeelectronica.bde.es/sede/es/tramites/adquisicion-participaciones-significativas-establecimientos-p247.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"60 días hábiles, a contar desde la fecha en que el Banco de España haya"}},"register_url":{"value":"https://www.bde.es/f/webbe/SGE/regis/ficheros/es/Registro_EntCredito.xlsx","source":"https://www.bde.es/f/webbe/SGE/regis/ficheros/es/Registro_EntCredito.xlsx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":42,"source":"https://www.bde.es/f/webbe/SGE/regis/ficheros/es/Registro_EntCredito.xlsx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Banco"},"answer":"The Entidad de crédito (Banco) / Commercial bank licence is issued by Bank of Spain (BdE) under Directive 2013/36/EU on access to the activity of credit institutions and prudential supervision (CRD IV). It can be passported to the other EU/EEA states by notification. The official register lists 42 current holders. The legal decision period is 6 months from receipt of a complete application (or within 12 months from initial filing; silence implies rejection).","derived_from":"banco-de-espana","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/spain/","jurisdiction_name":"Spain","region":"eu-eea","regulator_name":"BdE","regulator_url":"/licensing/regulators/banco-de-espana/","family_short":"Bank","capital_eur":null,"months":6},{"id":"bank--GE","family":"bank","jurisdiction":"GE","regulator_id":"nbg-georgia","official_name":{"value":"Commercial bank licence","source":"https://nbg.gov.ge/en/page/licensing-requirements","source_type":"primary","as_of":"2026-09-24","checked_by":"claude","quote":"The National Bank reviews a complete license application within 6 months"},"legal_basis":[{"value":"Organic Law of Georgia on the National Bank of Georgia","source":"https://matsne.gov.ge/en/document/view/101044","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"Law of Georgia on Commercial Bank Activities","source":"https://matsne.gov.ge/en/document/view/32962","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["ge-organic-law-on-national-bank","ge-law-on-commercial-bank-activities"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"none","timelines":{"statutory":{"value":"The National Bank must decide within 6 months of confirming receipt of a complete written application, and the total decision period (including any extension) must not exceed 12 months","source":"https://matsne.gov.ge/en/document/view/32962","source_type":"primary","as_of":"2026-09-24","checked_by":"claude","quote":"shall not exceed 12 months"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"For commercial banks, acquiring or crossing 10%, 20%, 30% or 50% of capital or voting shares, or otherwise gaining significant influence, requires notifying the National Bank; anyone holding more than 10% is a significant shareholder subject to the NBG's fit-and-proper assessment (Law on Commercial Bank Activities, Art. 81 and Art. 1(z5)). For payment service providers, changes of significant shareholders and beneficial owners must be notified to the NBG under its PSP registration order (Order No. 77/04 of 1 May 2023).","source":"https://matsne.gov.ge/en/document/view/32962","source_type":"primary","as_of":"2026-09-24","checked_by":"claude","quote":"10%, 20%, 30% or 50%"}},"register_url":{"value":"https://nbg.gov.ge/en/licensed-commercial-banks","source":"https://nbg.gov.ge/en/licensed-commercial-banks","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":17,"source":"https://nbg.gov.ge/en/licensed-commercial-banks","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Commercial bank licence is issued by National Bank of Georgia (NBG) under Organic Law of Georgia on the National Bank of Georgia. The official register lists 17 current holders. The legal decision period is The National Bank must decide within 6 months of confirming receipt of a complete written application, and the total decision period (including any extension) must not exceed 12 months. Ownership changes need the regulator's approval before completion.","derived_from":"nbg-georgia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/georgia/","jurisdiction_name":"Georgia","region":"europe-non-eu","regulator_name":"NBG","regulator_url":"/licensing/regulators/nbg-georgia/","family_short":"Bank","capital_eur":null,"months":6},{"id":"bank--IE","family":"bank","jurisdiction":"IE","regulator_id":"central-bank-of-ireland","official_name":{"value":"Banking Licence (Section 9 Central Bank Act 1971)","source":"https://www.centralbank.ie/regulation/how-we-regulate/authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Credit Institutions"},"legal_basis":[{"value":"Central Bank Act 1942 (as amended)","source":"https://revisedacts.lawreform.ie/eli/1942/act/22/revised/en/html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Central Bank Act 1942 (Section 32D) Regulations 2026 (S.I. No. 348/2026)","source":"https://www.irishstatutebook.ie/eli/2026/si/348/made/en/print","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2013/36/EU on access to the activity of credit institutions and prudential supervision (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ie-central-bank-act-1942","ie-central-bank-section-32d-regulations-2024","eu-crd-2013-36"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","fees":{"annual":{"value":"Minimum EUR 292,226 plus a variable amount (Category A1, S.I. No. 348/2026)","source":"https://www.irishstatutebook.ie/eli/2026/si/348/made/en/print","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application, maximum 12 months from receipt of application under CRD IV / SSM","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within six months of receipt of the application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.","source":"https://www.centralbank.ie/regulation/industry-market-sectors/payment-institutions/notification-process-for-proposed-acquisitions-of-qualifying-holdings","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"complete its assessment of the Notification within 60 working days"}},"answer":"The Banking Licence (Section 9 Central Bank Act 1971) is issued by Central Bank of Ireland (CBI) under Central Bank Act 1942 (as amended). It can be passported to the other EU/EEA states by notification. The legal decision period is 6 months from receipt of a complete application, maximum 12 months from receipt of application under CRD IV / SSM. Ownership changes need the regulator's approval before completion.","derived_from":"central-bank-of-ireland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/ireland/","jurisdiction_name":"Ireland","region":"eu-eea","regulator_name":"CBI","regulator_url":"/licensing/regulators/central-bank-of-ireland/","family_short":"Bank","capital_eur":null,"months":6},{"id":"bank--KY","family":"bank","jurisdiction":"KY","regulator_id":"cima-cayman","official_name":{"value":"Bank Licence (Category A and Category B) under the Banks and Trust Companies Act","source":"https://www.cima.ky/banking-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Banks and Trust Companies Act (2025 Revision)","source":"https://www.cima.ky/acts-and-regulations","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ky-banks-and-trust-companies-act"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under s.28(1) of the VASP Act, CIMA's prior approval is required before any issue or voluntary transfer of shares/interests reaching 10% or more of a VASP; the acquirer must file a Personal Questionnaire and fitness documentation. Acting without approval is an offence, and CIMA may also take action against the licence. Other CIMA-regulated entities (banks, trust companies, mutual fund administrators, securities licensees) face a stricter 0% threshold — any transfer needs prior approval.","source":"https://maples.com/knowledge/cima-change-of-control-process-a-guide-for-cayman-islands-regulated-entities","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Asset Service Providers require prior approval only when transfers exceed 10%"}},"register_url":{"value":"https://www.cima.ky/banking-statistics","source":"https://www.cima.ky/banking-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":76,"source":"https://www.cima.ky/banking-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"76 licensed banks"},"answer":"The Bank Licence (Category A and Category B) under the Banks and Trust Companies Act is issued by Cayman Islands Monetary Authority (CIMA) under Banks and Trust Companies Act (2025 Revision). The official register lists 76 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"cima-cayman","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/cayman-islands/","jurisdiction_name":"Cayman Islands","region":"offshore","regulator_name":"CIMA","regulator_url":"/licensing/regulators/cima-cayman/","family_short":"Bank","capital_eur":null,"months":null},{"id":"bank--LT--specialised","family":"bank","jurisdiction":"LT","regulator_id":"bank-of-lithuania","official_name":{"value":"Specialised bank licence","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=110&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Specialised bank"},"legal_basis":[{"value":"Republic of Lithuania Law on Banks No IX-2085","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013R0575","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lt-law-on-banks","eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 4,157","source":"https://web.archive.org/web/20250523205342/https://www.lb.lt/en/authorisation-of-banks","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"annual":{"value":"Variable supervisory fee based on annual balance sheet assets","source":"https://ecovis.lt/fintech/specialized-banks/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application, maximum 12 months overall","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within six months of the receipt of the application ... in any case, be taken"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or becoming controlled, requires prior written notification to the Bank of Lithuania. The supervisory authority assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory 60 working days period (interruptible once by up to 20 working days for additional information) under Law on Banks Arts 24-25, applied mutatis mutandis to EMIs (EMI Law Art. 17) and PIs (PI Law Art. 10).","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person ... who have taken a decision on the acquisition of a qualifying holding"}},"register_url":{"value":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=110&market=1","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=110&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":8,"source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=110&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"All results 8"},"answer":"The Specialised bank licence is issued by Bank of Lithuania (LB) under Republic of Lithuania Law on Banks No IX-2085. It can be passported to the other EU/EEA states by notification. The official register lists 8 current holders. The legal decision period is 6 months from receipt of a complete application, maximum 12 months overall. The application fee is EUR 4,157. Ownership changes need the regulator's approval before completion.","derived_from":"bank-of-lithuania","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/lithuania-specialised/","jurisdiction_name":"Lithuania","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/bank-of-lithuania/","family_short":"Bank","capital_eur":null,"months":6},{"id":"bank--LT","family":"bank","jurisdiction":"LT","regulator_id":"bank-of-lithuania","official_name":{"value":"Bank licence","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=82&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Banks authorised in the Republic of Lithuania"},"legal_basis":[{"value":"Republic of Lithuania Law on Banks No IX-2085","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013R0575","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lt-law-on-banks","eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or becoming controlled, requires prior written notification to the Bank of Lithuania. The supervisory authority assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory 60 working days period (interruptible once by up to 20 working days for additional information) under Law on Banks Arts 24-25, applied mutatis mutandis to EMIs (EMI Law Art. 17) and PIs (PI Law Art. 10).","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person ... who have taken a decision on the acquisition of a qualifying holding"}},"register_url":{"value":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=82&market=1","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=82&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":5,"source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=82&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"All results 5"},"answer":"The Bank licence is issued by Bank of Lithuania (LB) under Republic of Lithuania Law on Banks No IX-2085. It can be passported to the other EU/EEA states by notification. The official register lists 5 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"bank-of-lithuania","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/lithuania/","jurisdiction_name":"Lithuania","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/bank-of-lithuania/","family_short":"Bank","capital_eur":null,"months":null},{"id":"bank--LU","family":"bank","jurisdiction":"LU","regulator_id":"cssf-luxembourg","official_name":{"value":"Credit institution authorisation","source":"https://www.cssf.lu/en/Document/law-of-5-april-1993/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Banks authorised to carry on their activities pursuant to Article 2"},"legal_basis":[{"value":"Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013R0575","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 75,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A single lump sum of EUR 75,000 for the examination of each authorisation request"},"annual":{"value":"EUR 116,500","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Up to 500 million EUR 116,500"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application, maximum 12 months overall","source":"https://www.cssf.lu/en/Document/law-of-5-april-1993/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"dans un délai de six mois à compter de la réception"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or causing an entity to become a subsidiary, requires prior written notification to the CSSF. The CSSF conducts a prudential assessment of acquirer suitability, reputation, financial soundness, and AML risk within 60 working days (interruptible once by up to 20 working days, or 30 working days for non-EU acquirers) under Articles 18 and 18-1 of the Law of 5 April 1993, Article 12 of the Law of 10 November 2009, Article 83 of Regulation (EU) 2023/1114 (MiCA), and Circular CSSF 17/669 adopting the Joint ESA Guidelines.","source":"https://www.cssf.lu/en/Document/circular-cssf-17-669/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Adoption of the Joint Guidelines of ESMA, EBA and EIOPA on the prudential assessment"}},"register_url":{"value":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=B","source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=B","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":118,"source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=B","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"totalElements: 118"},"answer":"The Credit institution authorisation is issued by Commission de Surveillance du Secteur Financier (CSSF) under Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV). It can be passported to the other EU/EEA states by notification. The official register lists 118 current holders. The legal decision period is 6 months from receipt of a complete application, maximum 12 months overall.","derived_from":"cssf-luxembourg","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/luxembourg/","jurisdiction_name":"Luxembourg","region":"eu-eea","regulator_name":"CSSF","regulator_url":"/licensing/regulators/cssf-luxembourg/","family_short":"Bank","capital_eur":null,"months":6},{"id":"bank--LV","family":"bank","jurisdiction":"LV","regulator_id":"latvijas-banka","official_name":{"value":"Credit institution licence (bank)","source":"https://www.bank.lv/en/operational-areas/licensing/credit-institution/how-to-obtain-authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Credit institution authorisation"},"legal_basis":[{"value":"Law on Latvijas Banka","source":"https://likumi.lv/ta/en/en/id/326575","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Credit Institution Law","source":"https://likumi.lv/ta/en/en/id/37426","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lv-law-on-latvijas-banka","lv-credit-institution-law","eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 0 (free of charge)","source":"https://www.bank.lv/en/operational-areas/licensing/credit-institution/how-to-obtain-authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No fee has been set for the examination of the application"}},"timelines":{"statutory":{"value":"1 month completeness check, followed by 3 to 12 months decision period in conjunction with the ECB","source":"https://www.bank.lv/en/operational-areas/licensing/credit-institution/how-to-obtain-authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"decision to grant or refuse authorisation ... within three to twelve months"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 33%, or 50% of capital or voting rights, or causing the entity to become a subsidiary, requires prior notification and approval from Latvijas Banka. Under Latvijas Banka Regulation No. 241 and the Credit Institution Law, the assessment period is 60 working days from receipt of a complete notification, interruptible once by up to 20 or 30 working days to request supplementary documents; Latvijas Banka evaluates reputation, financial soundness, and AML/CFT compliance before issuing approval.","source":"https://www.bank.lv/en/operational-areas/licensing/credit-institution/procedure-for-the-evaluation-of-qualifying-holding","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"takes a decision to approve or prohibit the acquisition ... within 60 working days"}},"register_url":{"value":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=42-banks","source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=42-banks","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":10,"source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=42-banks","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Total results: 10"},"answer":"The Credit institution licence (bank) is issued by Latvijas Banka (LB) under Law on Latvijas Banka. It can be passported to the other EU/EEA states by notification. The official register lists 10 current holders. The legal decision period is 1 month completeness check, followed by 3 to 12 months decision period in conjunction with the ECB. The application fee is EUR 0 (free of charge). Ownership changes need the regulator's approval before completion.","derived_from":"latvijas-banka","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/latvia/","jurisdiction_name":"Latvia","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/latvijas-banka/","family_short":"Bank","capital_eur":null,"months":1},{"id":"bank--MT","family":"bank","jurisdiction":"MT","regulator_id":"mfsa-malta","official_name":{"value":"Credit institution licence","source":"https://legislation.mt/getpdf/68b000f8d91e4409089afa3f","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"licence to carry on the business of banking"},"legal_basis":[{"value":"Banking Act (Cap. 371)","source":"https://legislation.mt/getpdf/68b000f8d91e4409089afa3f","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013R0575","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mt-banking-act","eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 35,000","source":"https://legislation.mt/getpdf/69dcdc9839731123744423fc","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Credit Institutions 35,000"},"annual":{"value":"0.024% of institution-level deposits (minimum EUR 60,000, maximum EUR 1,700,000)","source":"https://legislation.mt/getpdf/69dcdc9839731123744423fc","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Minimum fee: 60,000"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application, and in any event within 12 months of its receipt","source":"https://legislation.mt/getpdf/68b000f8d91e4409089afa3f","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within six months of receipt of the application ... within twelve months"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding needs the MFSA's prior approval. For payment and e-money institutions the Financial Institutions Act sets the thresholds at 20%, 30% and 50%; for banks the Banking Act adds a 60-working-day assessment period that can be extended.","source":"https://legislation.mt/getpdf/683418610db9942428cf9d49","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The Credit institution licence is issued by Malta Financial Services Authority (MFSA) under Banking Act (Cap. 371). It can be passported to the other EU/EEA states by notification. The legal decision period is 6 months from receipt of a complete application, and in any event within 12 months of its receipt. The application fee is EUR 35,000. Ownership changes need the regulator's approval before completion.","derived_from":"mfsa-malta","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/malta/","jurisdiction_name":"Malta","region":"eu-eea","regulator_name":"MFSA","regulator_url":"/licensing/regulators/mfsa-malta/","family_short":"Bank","capital_eur":null,"months":6},{"id":"bank--NL","family":"bank","jurisdiction":"NL","regulator_id":"dnb-netherlands","official_name":{"value":"Bank licence (Vergunning bank / kredietinstelling)","source":"https://www.dnb.nl/en/public-register/register-of-banks/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Register of banks"},"legal_basis":[{"value":"Bank Act 1998 (Bankwet 1998)","source":"https://wetten.overheid.nl/BWBR0009508","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013R0575","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2013/36/EU on access to the activity of credit institutions and prudential supervision (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["nl-bank-act-1998","eu-crr-575-2013","eu-crd-2013-36"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 44,300","source":"https://wetten.overheid.nl/BWBR0041647/2024-12-30","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Wft.D1.04 ... € 44.300"},"annual":{"value":"Annual supervisory levy under Wbft 2019 and ECB SSM regulation based on total risk exposure and asset size","source":"https://wetten.overheid.nl/BWBR0041548/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application, up to a maximum of 12 months overall","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within six months of receipt of the complete application"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 3:95 Wft and MiCA Articles 41 and 83, acquiring, increasing, or disposing of a qualifying holding (direct or indirect holding of 10% or more of voting rights or shares, or exercising significant influence) in a payment institution, EMI, or ART issuer requires a prior Declaration of No-Objection (DNO / VVGB) from DNB (the ECB assesses banks). Threshold bandwidth upper limits are set at 20%, 30/33%, 50%, or 100%. The statutory decision period is 60 working days from receipt of a complete application, extendable once by up to 30 working days for RFIs, governed by lex silencio positivo.","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-themes/declaration-of-no-objection/dno-application-time-frame/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The statutory decision period for a DNO application is 60 working days"}},"answer":"The Bank licence (Vergunning bank / kredietinstelling) is issued by De Nederlandsche Bank (DNB) under Bank Act 1998 (Bankwet 1998). It can be passported to the other EU/EEA states by notification. The legal decision period is 6 months from receipt of a complete application, up to a maximum of 12 months overall. The application fee is EUR 44,300. Ownership changes need the regulator's approval before completion.","derived_from":"dnb-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/netherlands/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"DNB","regulator_url":"/licensing/regulators/dnb-netherlands/","family_short":"Bank","capital_eur":null,"months":6},{"id":"bank--PL","family":"bank","jurisdiction":"PL","regulator_id":"knf-poland","official_name":{"value":"Commercial Bank licence (bank krajowy w formie spółki akcyjnej)","source":"https://www.knf.gov.pl/podmioty/Podmioty_sektora_bankowego/Banki_w_formie_spolek_akcyjnych","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Banki w formie spółek akcyjnych"},"legal_basis":[{"value":"Banking Law of 29 August 1997","source":"https://dziennikustaw.gov.pl/DU/2023/2488","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["pl-banking-law-1997"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding needs prior notification to the KNF, which can object within 60 working days (extendable by up to 20 working days while it waits for information). For national payment institutions the thresholds are 20%, 30% and 50% (Payment Services Act, Art. 72a); for banks they are 10%, 20%, one third and 50% (Banking Law, Art. 25). Shares acquired in breach carry no voting rights.","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.knf.gov.pl/podmioty/Podmioty_sektora_bankowego/Banki_w_formie_spolek_akcyjnych","source":"https://www.knf.gov.pl/podmioty/Podmioty_sektora_bankowego/Banki_w_formie_spolek_akcyjnych","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":20,"source":"https://www.knf.gov.pl/podmioty/Podmioty_sektora_bankowego/Banki_w_formie_spolek_akcyjnych","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Pozycje od 1 do 20 z 20"},"answer":"The Commercial Bank licence (bank krajowy w formie spółki akcyjnej) is issued by Polish Financial Supervision Authority (KNF) under Banking Law of 29 August 1997. It can be passported to the other EU/EEA states by notification. The official register lists 20 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"knf-poland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/poland/","jurisdiction_name":"Poland","region":"eu-eea","regulator_name":"KNF","regulator_url":"/licensing/regulators/knf-poland/","family_short":"Bank","capital_eur":null,"months":null},{"id":"bank--SG","family":"bank","jurisdiction":"SG","regulator_id":"mas-singapore","official_name":{"value":"Banking Licence (Full Bank, Wholesale Bank, Digital Bank)","source":"https://sso.agc.gov.sg/Act/BA1970","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Banking Act 1970","source":"https://sso.agc.gov.sg/Act/BA1970","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sg-banking-act-1970"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 28 of the Payment Services Act 2019, prior written approval from MAS is required before a person becomes a 20% controller of a licensee (holding 20% or more of shares or voting power, or exercising effective control / power to determine policy). Under Section 97A of the Securities and Futures Act 2001 (as amended by Act 12 of 2024 effective 24 January 2025), prior written approval is required before obtaining effective control of a CMS licensee (20% share capital or voting power, or power to direct policy). Applications are submitted online via MAS-Tx (Form 3A for PSA, Form under SFA s.97A). Incurring control without MAS prior approval constitutes a criminal offence punishable by fine up to SGD 150,000 and/or imprisonment.","source":"https://sso.agc.gov.sg/Act/PSA2019","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Control of shareholding in licensee"}},"register_url":{"value":"https://eservices.mas.gov.sg/fid/institution","source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":121,"source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Wholesale Bank 95"},"answer":"The Banking Licence (Full Bank, Wholesale Bank, Digital Bank) is issued by Monetary Authority of Singapore (MAS) under Banking Act 1970. The official register lists 121 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"mas-singapore","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/singapore/","jurisdiction_name":"Singapore","region":"apac","regulator_name":"MAS","regulator_url":"/licensing/regulators/mas-singapore/","family_short":"Bank","capital_eur":null,"months":null},{"id":"bank--SK","family":"bank","jurisdiction":"SK","regulator_id":"nbs-slovakia","official_name":{"value":"Banking licence (bankové povolenie)","source":"https://subjekty.nbs.sk/?c=932","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Banky a pobočky zahraničných bánk"},"legal_basis":[{"value":"Act No 483/2001 on banks (and amending certain laws)","source":"https://www.slov-lex.sk/pravne-predpisy/SK/ZZ/2001/483/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Act of the Slovak National Council No 566/1992 on the National Bank of Slovakia","source":"https://nbs.sk/en/legislation/laws-within-the-nbs-competence/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sk-act-483-2001","sk-act-566-1992"],"activity_ids":["deposit-taking","credit-granting","payment-execution"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_approval","summary":null},"register_url":{"value":"https://subjekty.nbs.sk/?c=932","source":"https://subjekty.nbs.sk/?c=932","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":22,"source":"https://subjekty.nbs.sk/?c=932","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Banky a pobočky zahraničných bánk"},"answer":"The Banking licence (bankové povolenie) is issued by National Bank of Slovakia (NBS) under Act No 483/2001 on banks (and amending certain laws). It can be passported to the other EU/EEA states by notification. The official register lists 22 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"nbs-slovakia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/bank/slovakia/","jurisdiction_name":"Slovakia","region":"eu-eea","regulator_name":"NBS","regulator_url":"/licensing/regulators/nbs-slovakia/","family_short":"Bank","capital_eur":null,"months":null},{"id":"casp-mica--CY--art60","family":"casp-mica","jurisdiction":"CY","regulator_id":"cysec-cyprus","official_name":{"value":"Notification by financial entities providing crypto-asset services under MiCAR Article 60","source":"https://www.cysec.gov.cy/en-GB/entities/Crypto-Assets-Entities-(MiCAR)/MiCAR-CASPs/Notification-(Article-60)/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Notification by certain financial entities (Article 60)"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 10,000 one-off notification fee for authorized CIFs, credit institutions, and UCITS/AIFM management companies initiating crypto-asset services under Article 60","source":"https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=f9291762-d5a0-4199-ba2e-34fe77ac49fd","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Notification from a central securities depository, CIF, market operator of the Republic"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person proposing to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% in a CIF, AIFM, or CASP, or to achieve control making it a subsidiary, must submit prior written notification to CySEC under Sections 12 and 13 of Law 87(I)/2017 and MiCA Article 83. CySEC acknowledges receipt within two working days and has a statutory assessment period of 60 working days to oppose the acquisition based on reputation, financial soundness, AML risks, and fit-and-proper criteria. The assessment period may be interrupted once by up to 20 working days (or 30 working days for non-EU entities) to request additional information. If CySEC does not object in writing before expiry, the transaction is deemed approved. Closing without CySEC non-opposition suspends voting rights and risks statutory penalties.","source":"https://www.cylaw.org/nomoi/enop/non-ind/2017_1_87/full.html","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.cysec.gov.cy/en-GB/entities/Crypto-Assets-Entities-(MiCAR)/MiCAR-CASPs/Notification-(Article-60)/","source":"https://www.cysec.gov.cy/en-GB/entities/Crypto-Assets-Entities-(MiCAR)/MiCAR-CASPs/Notification-(Article-60)/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":7,"source":"https://www.cysec.gov.cy/en-GB/entities/Crypto-Assets-Entities-(MiCAR)/MiCAR-CASPs/Notification-(Article-60)/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Notification by certain financial entities (Article 60)"},"answer":"The Notification by financial entities providing crypto-asset services under MiCAR Article 60 is issued by Cyprus Securities and Exchange Commission (CySEC) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The official register lists 7 current holders. The application fee is EUR 10,000 one-off notification fee for authorized CIFs, credit institutions, and UCITS/AIFM management companies initiating crypto-asset services under Article 60.","derived_from":"cysec-cyprus","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/cyprus-art60/","jurisdiction_name":"Cyprus","region":"eu-eea","regulator_name":"CySEC","regulator_url":"/licensing/regulators/cysec-cyprus/","family_short":"CASP","capital_eur":null,"months":null},{"id":"casp-mica--CY","family":"casp-mica","jurisdiction":"CY","regulator_id":"cysec-cyprus","official_name":{"value":"Crypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63","source":"https://www.cysec.gov.cy/en-GB/entities/Crypto-Assets-Entities-(MiCAR)/MiCAR-CASPs/Licensees-(Article-63)/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Crypto-Assets Entities (MiCAR)"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 5,000 to EUR 30,000 per requested crypto-asset service (EUR 5,000 for exchange or transfer services; EUR 8,000 for RTO, execution, placing, advice, or portfolio management; EUR 10,000 for custody; EUR 30,000 for trading platform operation)","source":"https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=f9291762-d5a0-4199-ba2e-34fe77ac49fd","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Application for granting an authorization as a crypto -asset service provider"},"annual":{"value":"Fixed annual fee between EUR 5,000 and EUR 20,000 per authorized crypto-asset service (EUR 5,000 for exchange/execution/transfers; EUR 8,000 for advice/portfolio; EUR 10,000 for custody; EUR 20,000 for trading platform), plus turnover surcharge above EUR 500,000 (1% up to EUR 1M, scaling to 0.1% above EUR 10M, capped at EUR 500,000 total)","source":"https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=f9291762-d5a0-4199-ba2e-34fe77ac49fd","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The annual fee, which in any case shall not exceed the amount of"}},"timelines":{"statutory":{"value":"40 working days from receipt of a complete application (following a 25 working days completeness assessment)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 40 working days from the date of receipt of a complete application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person proposing to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% in a CIF, AIFM, or CASP, or to achieve control making it a subsidiary, must submit prior written notification to CySEC under Sections 12 and 13 of Law 87(I)/2017 and MiCA Article 83. CySEC acknowledges receipt within two working days and has a statutory assessment period of 60 working days to oppose the acquisition based on reputation, financial soundness, AML risks, and fit-and-proper criteria. The assessment period may be interrupted once by up to 20 working days (or 30 working days for non-EU entities) to request additional information. If CySEC does not object in writing before expiry, the transaction is deemed approved. Closing without CySEC non-opposition suspends voting rights and risks statutory penalties.","source":"https://www.cylaw.org/nomoi/enop/non-ind/2017_1_87/full.html","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.cysec.gov.cy/en-GB/entities/Crypto-Assets-Entities-(MiCAR)/MiCAR-CASPs/Licensees-(Article-63)/","source":"https://www.cysec.gov.cy/en-GB/entities/Crypto-Assets-Entities-(MiCAR)/MiCAR-CASPs/Licensees-(Article-63)/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":16,"source":"https://www.cysec.gov.cy/en-GB/entities/Crypto-Assets-Entities-(MiCAR)/MiCAR-CASPs/Licensees-(Article-63)/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Crypto-Assets Entities (MiCAR)"},"answer":"The Crypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63 is issued by Cyprus Securities and Exchange Commission (CySEC) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The official register lists 16 current holders. The legal decision period is 40 working days from receipt of a complete application (following a 25 working days completeness assessment). Ownership changes need the regulator's approval before completion.","derived_from":"cysec-cyprus","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/cyprus/","jurisdiction_name":"Cyprus","region":"eu-eea","regulator_name":"CySEC","regulator_url":"/licensing/regulators/cysec-cyprus/","family_short":"CASP","capital_eur":null,"months":1.8},{"id":"casp-mica--CZ","family":"casp-mica","jurisdiction":"CZ","regulator_id":"cnb-czechia","official_name":{"value":"Crypto-Asset Service Provider authorisation under MiCA and Act No. 31/2025 Coll. (povolení k činnosti poskytovatele služeb souvisejících s kryptoaktivy)","source":"https://www.cnb.cz/en/supervision-financial-market/legislation/crypto-assets/laws-and-regulations/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Additional rules for crypto-asset service providers (CASPs)"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","fees":{"application":{"value":"CZK 20,000","source":"https://www.zakonyprolidi.cz/cs/2004-634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"poskytovatele služeb souvisejících s kryptoaktivy Kč 20000"}},"timelines":{"statutory":{"value":"40 working days from complete application under MiCA Art. 63(7) (plus 25 working days completeness check)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 40 working days of receipt of a complete application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance.","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Osoba nebo osoby jednající ve shodě oznámí předem České národní bance svůj záměr"}},"register_url":{"value":"https://www.cnb.cz/cs/dohled-financni-trh/seznamy/","source":"https://www.cnb.cz/cs/dohled-financni-trh/seznamy/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":11,"source":"https://www.cnb.cz/cs/dohled-financni-trh/seznamy/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Crypto-Asset Service Provider authorisation under MiCA and Act No. 31/2025 Coll. (povolení k činnosti poskytovatele služeb souvisejících s kryptoaktivy) is issued by Czech National Bank (CNB) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The official register lists 11 current holders. The legal decision period is 40 working days from complete application under MiCA Art. 63(7) (plus 25 working days completeness check).","derived_from":"cnb-czechia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/czech-republic/","jurisdiction_name":"Czech Republic","region":"eu-eea","regulator_name":"CNB","regulator_url":"/licensing/regulators/cnb-czechia/","family_short":"CASP","capital_eur":null,"months":1.8},{"id":"casp-mica--DE","family":"casp-mica","jurisdiction":"DE","regulator_id":"bafin-germany","official_name":{"value":"Crypto-asset service provider licence (Zulassung als Anbieter von Kryptowerte-Dienstleistungen nach Art. 59 MiCAR / KMAG)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Authorisation of crypto-asset service providers"},"legal_basis":[{"value":"Crypto Markets Supervision Act (Kryptomärkteaufsichtsgesetz - KMAG)","source":"https://www.gesetze-im-internet.de/kmag/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["de-crypto-markets-supervision-act","eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","fees":{"application":{"value":"nach Zeitaufwand (billed based on staff time spent)","source":"https://www.gesetze-im-internet.de/findagebv/anlage.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"32.1.2 Erteilung einer Zulassung zum Anbieten von Kryptowerte-Dienstleistungen nach Zeitaufwand"},"annual":{"value":"Annual cost allocation levy (Umlage) under FinDAG","source":"https://www.bafin.de/DE/die-bafin/ueber-die-bafin/organisation/finanzierung/finanzierung_node.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Umlagejahr gilt das Haushaltsjahr, für das die Kosten zu erstatten sind"}},"timelines":{"statutory":{"value":"40 working days from receipt of a complete application","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 40 working days from the date of receipt of a complete application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining control of a credit institution, payment institution, or investment firm, requires prior written notification to BaFin and the Deutsche Bundesbank. BaFin conducts an assessment of acquirer reliability, professional competence, financial soundness, and money laundering risks within 60 working days from receipt of a complete filing, interruptible once by up to 20 working days (or 30 working days if non-EEA) to request additional information, under Section 2c KWG, applied mutatis mutandis to payment and e-money institutions via Section 14 ZAG and to investment firms via Section 24 WpIG.","source":"https://www.gesetze-im-internet.de/kredwg/__2c.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"innerhalb von 60 Arbeitstagen ab dem Datum des Schreibens ... zu beurteilen"}},"register_url":{"value":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=175&sucheButtonInstitut=Suche","source":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=175&sucheButtonInstitut=Suche","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":81,"source":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=175&sucheButtonInstitut=Suche","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Crypto-asset service provider licence (Zulassung als Anbieter von Kryptowerte-Dienstleistungen nach Art. 59 MiCAR / KMAG) is issued by Federal Financial Supervisory Authority (BaFin) under Crypto Markets Supervision Act (Kryptomärkteaufsichtsgesetz - KMAG). It can be passported to the other EU/EEA states by notification. The official register lists 81 current holders. The legal decision period is 40 working days from receipt of a complete application. Ownership changes need the regulator's approval before completion.","derived_from":"bafin-germany","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/germany/","jurisdiction_name":"Germany","region":"eu-eea","regulator_name":"BaFin","regulator_url":"/licensing/regulators/bafin-germany/","family_short":"CASP","capital_eur":null,"months":1.8},{"id":"casp-mica--EE","family":"casp-mica","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Authorisation to operate as a crypto-asset service provider under MiCA","source":"https://www.fi.ee/en/investeerimine/investeerimisvaldkonna-tegevuslubade-taotlemine/kruptovaraturu-tegevusluba","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Authorisation to operate in markets in crypto-assets"},"legal_basis":[{"value":"Crypto Markets Act (Krüptovaraturu seadus)","source":"https://www.riigiteataja.ee/akt/121062024003","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ee-crypto-markets-act","eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 3,000","source":"https://www.fi.ee/en/investeerimine/investeerimisvaldkonna-tegevuslubade-taotlemine/kruptovaraturu-tegevusluba","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The processing fee payable when applying for authorisation ... is 3,000 euros."}},"timelines":{"statutory":{"value":"25 working days completeness check, followed by 40 working days decision period (procedural time limit may be paused for up to 20 working days)","source":"https://www.fi.ee/en/investeerimine/investeerimisvaldkonna-tegevuslubade-taotlemine/kruptovaraturu-tegevusluba","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"assess within 40 working days whether the applicant crypto-asset service provider meets the requirements"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/investment-market/crypto-asset-service-provider-casp/crypto-asset-service-providers-estonia","source":"https://www.fi.ee/en/investment-market/crypto-asset-service-provider-casp/crypto-asset-service-providers-estonia","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":1,"source":"https://www.fi.ee/en/investment-market/crypto-asset-service-provider-casp/crypto-asset-service-providers-estonia","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Lightspark Payments Europe AS"},"answer":"The Authorisation to operate as a crypto-asset service provider under MiCA is issued by Finantsinspektsioon (FI) under Crypto Markets Act (Krüptovaraturu seadus). It can be passported to the other EU/EEA states by notification. The official register lists 1 current holder. The legal decision period is 25 working days completeness check, followed by 40 working days decision period (procedural time limit may be paused for up to 20 working days). The application fee is EUR 3,000.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/estonia/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"CASP","capital_eur":null,"months":1.2},{"id":"casp-mica--ES","family":"casp-mica","jurisdiction":"ES","regulator_id":"cnmv-spain","official_name":{"value":"Proveedor de servicios de criptoactivos (PSC) / Crypto-asset service provider authorization","source":"https://www.cnmv.es/portal/fintech/innovacion?lang=es","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"autorización de proveedores de servicios de criptoactivos"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","timelines":{"statutory":{"value":"40 working days from receipt of a complete application (following 25 working days completeness check)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 40 working days from the date of receipt of a complete application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person intending to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or to gain control of an ESI, EAF, SGIIC, or CASP, must submit prior written notification to the CNMV under Articles 152-154 of Ley 6/2023 (LMVSI) and MiCA Art. 83. The CNMV assesses acquirer suitability, reputation, financial soundness, and AML/CFT risks within a statutory 60 working days assessment period (interruptible once by up to 20 working days for supplementary filings). Unauthorised acquisitions automatically forfeit voting rights and may trigger administrative intervention or statutory sanctions (Art. 156 LMVSI).","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2023-7053","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"adquirir, directa o indirectamente, una participación significativa en una empresa de servicios de inversión"}},"register_url":{"value":"https://www.cnmv.es/Docportal/Proveedores-Servicios-Criptoactivos/Listado_ProveedoresCriptoactivos.pdf","source":"https://www.cnmv.es/Docportal/Proveedores-Servicios-Criptoactivos/Listado_ProveedoresCriptoactivos.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":9,"source":"https://www.cnmv.es/Docportal/Proveedores-Servicios-Criptoactivos/Listado_ProveedoresCriptoactivos.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"RELACIÓN DE PROVEEDORES DE SERVICIOS DE CRIPTOACTIVOS"},"answer":"The Proveedor de servicios de criptoactivos (PSC) / Crypto-asset service provider authorization is issued by National Securities Market Commission (CNMV) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The official register lists 9 current holders. The legal decision period is 40 working days from receipt of a complete application (following 25 working days completeness check). Ownership changes need the regulator's approval before completion.","derived_from":"cnmv-spain","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/spain/","jurisdiction_name":"Spain","region":"eu-eea","regulator_name":"CNMV","regulator_url":"/licensing/regulators/cnmv-spain/","family_short":"CASP","capital_eur":null,"months":1.8},{"id":"casp-mica--FR","family":"casp-mica","jurisdiction":"FR","regulator_id":"amf-france","official_name":{"value":"Prestataire de services sur crypto-actifs (PSCA) / Crypto-asset service provider authorization under EU MiCA Regulation","source":"https://www.amf-france.org/fr/espace-epargnants/proteger-son-epargne/listes-blanches?conditions%5Bcategorie%5D=612","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Retrouvez les listes blanches de l'AMF (PSCA, Biens divers, PSFP)"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1113","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114","eu-tfr-2023-1113"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","fees":{"annual":{"value":"EUR 10,000 fixed annual contribution (Article D. 621-27 II 14°), plus 0.0094‰ (0.00094%) of assets under custody for custodians (minimum EUR 1,500)","source":"https://www.amf-france.org/sites/institutionnel/files/private/2026-01/2025-guide-des-contributions-fr_modifie-coquille-.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"est fixée à 10 000 euros. Le taux de la contribution due par les personnes"}},"timelines":{"statutory":{"value":"40 working days from receipt of a complete application, preceded by a 25 working days completeness assessment (MiCA Art. 63)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 40 working days from the date of receipt of a complete application"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding needs the AMF's prior approval. For portfolio management companies (SGP) the thresholds are 10%, 20%, 33.33% and 50% of capital or voting rights (Code monétaire et financier, Article L. 532-9-1). For crypto-asset service providers MiCA Articles 83 and 84 apply: the thresholds are 20%, 30% and 50%, and the AMF assesses the acquirer within 60 working days of a complete notification.","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv","source":"https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":35,"source":"https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Prestataire de services sur crypto-actifs (PSCA) / Crypto-asset service provider authorization under EU MiCA Regulation is issued by Financial Markets Authority (AMF) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The official register lists 35 current holders. The legal decision period is 40 working days from receipt of a complete application, preceded by a 25 working days completeness assessment (MiCA Art. 63).","derived_from":"amf-france","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/france/","jurisdiction_name":"France","region":"eu-eea","regulator_name":"AMF","regulator_url":"/licensing/regulators/amf-france/","family_short":"CASP","capital_eur":null,"months":1.8},{"id":"casp-mica--IE","family":"casp-mica","jurisdiction":"IE","regulator_id":"central-bank-of-ireland","official_name":{"value":"Crypto-Asset Service Provider Authorisation","source":"https://www.centralbank.ie/regulation/markets-in-crypto-assets-regulation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"authorisation as a Crypto-Asset Service Provider"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 0 (No statutory application fee published under Irish MiCAR framework)","source":"https://www.centralbank.ie/regulation/markets-in-crypto-assets-regulation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"timelines":{"statutory":{"value":"40 working days from receipt of a complete application under Article 63(1) of MiCA","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 40 working days from the date of receipt of a complete application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.","source":"https://www.centralbank.ie/regulation/industry-market-sectors/payment-institutions/notification-process-for-proposed-acquisitions-of-qualifying-holdings","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"complete its assessment of the Notification within 60 working days"}},"register_url":{"value":"https://registers.centralbank.ie/DownloadsPage.aspx","source":"https://registers.centralbank.ie/DownloadsPage.aspx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":12,"source":"https://registers.centralbank.ie/DownloadsPage.aspx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Register of Authorised Crypto-Asset Service Providers Under Article 63 of Regulation (EU) 2023/1114"},"answer":"The Crypto-Asset Service Provider Authorisation is issued by Central Bank of Ireland (CBI) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The official register lists 12 current holders. The legal decision period is 40 working days from receipt of a complete application under Article 63(1) of MiCA. The application fee is EUR 0 (No statutory application fee published under Irish MiCAR framework).","derived_from":"central-bank-of-ireland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/ireland/","jurisdiction_name":"Ireland","region":"eu-eea","regulator_name":"CBI","regulator_url":"/licensing/regulators/central-bank-of-ireland/","family_short":"CASP","capital_eur":null,"months":1.8},{"id":"casp-mica--IT","family":"casp-mica","jurisdiction":"IT","regulator_id":"consob-italy","official_name":{"value":"Fornitore di servizi per le cripto-attività / Crypto-asset service provider (CASP) authorization","source":"https://www.consob.it/web/consob-and-its-activities/casp-crypto-assets-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Specialised CASPs must apply for specific authorisation from the national competent authority"},"legal_basis":[{"value":"Decreto Legislativo 5 settembre 2024, n. 129 - Adeguamento della normativa nazionale al regolamento (UE) 2023/1114 relativo ai mercati delle cripto-attività","source":"https://www.gazzettaufficiale.it/eli/id/2024/09/13/24G00147/sg","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["it-decreto-mica-2024-129","eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 20,000.00","source":"https://www.consob.it/documents/d/asset-library-1912910/d23799_en-1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The contribution is €20,000.00 for each authorisation application."},"annual":{"value":"EUR 10,000.00 per authorized or notified crypto-asset service (or EUR 47,130.00 to EUR 262,550.00 tiered for trading platform operators)","source":"https://www.consob.it/documents/d/asset-library-1912910/d23799_en-1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The contribution for each service authorised/notified is equal to € 10,000.00."}},"timelines":{"statutory":{"value":"40 working days from receipt of a complete application (following a 25 working-day completeness review)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 40 working days from the date of receipt of a complete application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Article 15 of Legislative Decree 58/1998 (TUF) and Articles 83-84 of Regulation (EU) 2023/1114 (MiCA) as implemented by Legislative Decree 129/2024, any natural or legal person intending to acquire or dispose of a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining/losing control of a SIM or CASP, must give prior written notification. For SIMs, notification is submitted to Banca d'Italia (which conducts the prudential assessment, consulting CONSOB) with copy to CONSOB; for CASPs, competent authorities conduct the suitability and AML review within a 60 working-day assessment window (interruptible once by up to 20 working days). Unauthorised acquisitions automatically forfeit voting rights and risk statutory sanctions.","source":"https://www.gazzettaufficiale.it/eli/id/2024/09/13/24G00147/sg","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Entrata in vigore del provvedimento: 14/09/2024"}},"register_url":{"value":"https://www.milanofinanza.it/news/consob-autorizza-nove-fornitori-di-servizi-cripto-in-italia-202606301810004900","source":"https://www.milanofinanza.it/news/consob-autorizza-nove-fornitori-di-servizi-cripto-in-italia-202606301810004900","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":8,"source":"https://www.milanofinanza.it/news/consob-autorizza-nove-fornitori-di-servizi-cripto-in-italia-202606301810004900","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Fornitore di servizi per le cripto-attività / Crypto-asset service provider (CASP) authorization is issued by National Commission for Companies and the Stock Exchange (CONSOB) under Decreto Legislativo 5 settembre 2024, n. 129 - Adeguamento della normativa nazionale al regolamento (UE) 2023/1114 relativo ai mercati delle cripto-attività. It can be passported to the other EU/EEA states by notification. The official register lists 8 current holders. The application fee is EUR 20,000.00.","derived_from":"consob-italy","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/italy/","jurisdiction_name":"Italy","region":"eu-eea","regulator_name":"CONSOB","regulator_url":"/licensing/regulators/consob-italy/","family_short":"CASP","capital_eur":null,"months":1.8},{"id":"casp-mica--LT","family":"casp-mica","jurisdiction":"LT","regulator_id":"bank-of-lithuania","official_name":{"value":"Crypto-asset service provider licence","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=131&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Crypto-asset service provider"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","timelines":{"statutory":{"value":"40 working days from receipt of a complete application","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 40 working days from the date of receipt of a complete application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or becoming controlled, requires prior written notification to the Bank of Lithuania. The supervisory authority assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory 60 working days period (interruptible once by up to 20 working days for additional information) under Law on Banks Arts 24-25, applied mutatis mutandis to EMIs (EMI Law Art. 17) and PIs (PI Law Art. 10).","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person ... who have taken a decision on the acquisition of a qualifying holding"}},"register_url":{"value":"https://www.lb.lt/en/sfi-financial-market-participants?market=&subject=4&business_form=131","source":"https://www.lb.lt/en/sfi-financial-market-participants?market=&subject=4&business_form=131","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":4,"source":"https://www.lb.lt/en/sfi-financial-market-participants?market=&subject=4&business_form=131","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Crypto-asset service provider licence is issued by Bank of Lithuania (LB) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The official register lists 4 current holders. The legal decision period is 40 working days from receipt of a complete application. Ownership changes need the regulator's approval before completion.","derived_from":"bank-of-lithuania","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/lithuania/","jurisdiction_name":"Lithuania","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/bank-of-lithuania/","family_short":"CASP","capital_eur":null,"months":1.8},{"id":"casp-mica--LU","family":"casp-mica","jurisdiction":"LU","regulator_id":"cssf-luxembourg","official_name":{"value":"Crypto-asset service provider authorisation under MiCA Regulation","source":"https://www.cssf.lu/en/crypto-assets-service-providers-casps/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"crypto-asset service provider (“CASP”) means a legal person or other undertaking"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 30,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A single lump sum of EUR 30,000 for the examination of each application"},"annual":{"value":"EUR 40,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"An annual lump sum of EUR 40,000 to be paid by each crypto-asset"}},"timelines":{"statutory":{"value":"40 working days from receipt of a complete application","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 40 working days from the date of receipt of a complete application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or causing an entity to become a subsidiary, requires prior written notification to the CSSF. The CSSF conducts a prudential assessment of acquirer suitability, reputation, financial soundness, and AML risk within 60 working days (interruptible once by up to 20 working days, or 30 working days for non-EU acquirers) under Articles 18 and 18-1 of the Law of 5 April 1993, Article 12 of the Law of 10 November 2009, Article 83 of Regulation (EU) 2023/1114 (MiCA), and Circular CSSF 17/669 adopting the Joint ESA Guidelines.","source":"https://www.cssf.lu/en/Document/circular-cssf-17-669/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Adoption of the Joint Guidelines of ESMA, EBA and EIOPA on the prudential assessment"}},"register_url":{"value":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=CASP","source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=CASP","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":13,"source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=CASP","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"totalElements: 13"},"answer":"The Crypto-asset service provider authorisation under MiCA Regulation is issued by Commission de Surveillance du Secteur Financier (CSSF) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The official register lists 13 current holders. The legal decision period is 40 working days from receipt of a complete application. The application fee is EUR 30,000. Ownership changes need the regulator's approval before completion.","derived_from":"cssf-luxembourg","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/luxembourg/","jurisdiction_name":"Luxembourg","region":"eu-eea","regulator_name":"CSSF","regulator_url":"/licensing/regulators/cssf-luxembourg/","family_short":"CASP","capital_eur":null,"months":1.8},{"id":"casp-mica--LV","family":"casp-mica","jurisdiction":"LV","regulator_id":"latvijas-banka","official_name":{"value":"Crypto-asset service provider licence under MiCA","source":"https://www.bank.lv/en/operational-areas/licensing/crypto-asset/crypto-asset-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Crypto-Asset Service Providers (CASP)"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets (TFR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1113","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114","eu-tfr-2023-1113"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 2,500","source":"https://www.bank.lv/en/operational-areas/licensing/crypto-asset/crypto-asset-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"EUR 2 500 for the examination of the application for an authorisation"},"annual":{"value":"up to 0.6% of gross revenue per calendar year (minimum EUR 3,000)","source":"https://www.bank.lv/en/operational-areas/licensing/crypto-asset/crypto-asset-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"up to 0.6% (inclusive) ... not less than EUR 3 000"}},"timelines":{"statutory":{"value":"25 working days completeness review, followed by 40 working days decision period under MiCA Art. 63","source":"https://www.bank.lv/en/operational-areas/licensing/crypto-asset/crypto-asset-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"takes a decision to grant or refuse ... within 40 working days"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 33%, or 50% of capital or voting rights, or causing the entity to become a subsidiary, requires prior notification and approval from Latvijas Banka. Under Latvijas Banka Regulation No. 241 and the Credit Institution Law, the assessment period is 60 working days from receipt of a complete notification, interruptible once by up to 20 or 30 working days to request supplementary documents; Latvijas Banka evaluates reputation, financial soundness, and AML/CFT compliance before issuing approval.","source":"https://www.bank.lv/en/operational-areas/licensing/credit-institution/procedure-for-the-evaluation-of-qualifying-holding","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"takes a decision to approve or prohibit the acquisition ... within 60 working days"}},"register_url":{"value":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=202-crypto-asset-market","source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=202-crypto-asset-market","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":10,"source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=202-crypto-asset-market","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Total results: 14"},"answer":"The Crypto-asset service provider licence under MiCA is issued by Latvijas Banka (LB) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The official register lists 10 current holders. The legal decision period is 25 working days completeness review, followed by 40 working days decision period under MiCA Art. 63. The application fee is EUR 2,500. Ownership changes need the regulator's approval before completion.","derived_from":"latvijas-banka","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/latvia/","jurisdiction_name":"Latvia","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/latvijas-banka/","family_short":"CASP","capital_eur":null,"months":1.2},{"id":"casp-mica--MT","family":"casp-mica","jurisdiction":"MT","regulator_id":"mfsa-malta","official_name":{"value":"Crypto-Asset Service Provider authorisation under Regulation (EU) 2023/1114","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"authorisation as a crypto-asset service provider"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","timelines":{"statutory":{"value":"40 working days from receipt of a complete application (following 25 working days completeness assessment)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 40 working days from the date of receipt of a complete application"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding needs the MFSA's prior approval. For payment and e-money institutions the Financial Institutions Act sets the thresholds at 20%, 30% and 50%; for banks the Banking Act adds a 60-working-day assessment period that can be extended.","source":"https://legislation.mt/getpdf/683418610db9942428cf9d49","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv","source":"https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":22,"source":"https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"22 entries for Malta Competent Authority: Malta Financial Services Authority (MFSA)"},"answer":"The Crypto-Asset Service Provider authorisation under Regulation (EU) 2023/1114 is issued by Malta Financial Services Authority (MFSA) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The official register lists 22 current holders. The legal decision period is 40 working days from receipt of a complete application (following 25 working days completeness assessment). Ownership changes need the regulator's approval before completion.","derived_from":"mfsa-malta","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/malta/","jurisdiction_name":"Malta","region":"eu-eea","regulator_name":"MFSA","regulator_url":"/licensing/regulators/mfsa-malta/","family_short":"CASP","capital_eur":null,"months":1.8},{"id":"casp-mica--NL","family":"casp-mica","jurisdiction":"NL","regulator_id":"afm-netherlands","official_name":{"value":"Crypto-Asset Service Provider (CASP) authorisation under Regulation (EU) 2023/1114 (MiCA)","source":"https://www.afm.nl/en/sector/cryptopartijen/vereisten-en-vergunningen/casp-vergunning","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"parties offering crypto services to consumers or professional parties must have a CASP license"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1113","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114","eu-tfr-2023-1113"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 200 per hour worked by the AFM, with a statutory maximum cap of EUR 100,000 for MiCA Art. 62/63 authorisations (Bbft 2019 Bijlage 2, code EU.A1.08), EUR 50,000 cap for Art. 60 notifications (code EU.A3.08), plus EUR 700 per person for integrity assessment and EUR 2,900 for suitability assessment (or EUR 1,500 / EUR 500 if previously assessed by DNB)","source":"https://www.afm.nl/en/sector/cryptopartijen/vereisten-en-vergunningen/kosten","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"an hourly rate of 200 euros up to a maximum of 100,000 euros"},"annual":{"value":"EUR 8,000 base supervisory levy plus a turnover-based component and service modules under Regeling bekostiging financieel toezicht 2026: custody EUR 4,250; trading platform EUR 4,250; crypto-fiat exchange EUR 2,125; crypto-crypto exchange EUR 2,125; order execution EUR 4,250; placing EUR 2,125; reception/transmission EUR 2,125; advice EUR 4,250; portfolio management EUR 6,375; transfer services EUR 4,250","source":"https://zoek.officielebekendmakingen.nl/stcrt-2026-20792.html","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"25 working days completeness assessment from receipt, followed by 40 working days decision period once complete (Regulation (EU) 2023/1114 Art. 63)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 40 working days from the date of receipt of a complete application"},"observed":{"value":"At least 5 months in practice, often longer: 'even in a best-case scenario it will take at least five months. In practice, it will often take longer.'","source":"https://www.afm.nl/en/sector/cryptopartijen/vereisten-en-vergunningen/casp-vergunning","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"even in a best-case scenario it will take at least five months"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"In the Netherlands' Twin Peaks supervisory architecture, change of control and qualifying holdings (gekwalificeerde deelnemingen) are strictly regulated. Any natural or legal person proposing to acquire, increase, or divest a qualifying holding—defined as a direct or indirect holding of at least 10%, 20%, 33% (or 30%), or 50% of voting rights or capital, or the ability to exercise significant influence/control—in an investment firm or fund manager governed by the Wft must obtain a prior Declaration of No Objection (Verklaring van geen bezwaar - VVGB) from De Nederlandsche Bank (DNB) under Wft Article 3:95, with DNB consulting the AFM on conduct-of-business aspects. For crypto-asset service providers (CASPs) under Regulation (EU) 2023/1114 (MiCA Article 83), proposed acquisitions of qualifying holdings require prior assessment and approval by the competent supervisor (AFM charges EUR 2,400 per assessment under Bbft 2019 code EU.D1.07). The statutory assessment period is 60 working days from written acknowledgement of receipt of a complete filing, interruptible once by up to 20 or 30 working days if additional information is required from the proposed acquirer.","source":"https://wetten.overheid.nl/BWBR0020368","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"verklaring van geen bezwaar"}},"answer":"The Crypto-Asset Service Provider (CASP) authorisation under Regulation (EU) 2023/1114 (MiCA) is issued by Authority for the Financial Markets (AFM) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The legal decision period is 25 working days completeness assessment from receipt, followed by 40 working days decision period once complete (Regulation (EU) 2023/1114 Art. 63). Ownership changes need the regulator's approval before completion.","derived_from":"afm-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/netherlands/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"AFM","regulator_url":"/licensing/regulators/afm-netherlands/","family_short":"CASP","capital_eur":null,"months":1.2},{"id":"casp-mica--PL","family":"casp-mica","jurisdiction":"PL","regulator_id":"knf-poland","official_name":{"value":"Crypto-Asset Service Provider authorization under MiCA (zezwolenie na świadczenie usług w zakresie kryptoaktywów)","source":"https://knf.gov.pl/knf/pl/komponenty/img/Stanowisko_UKNF_-_nadzor_nad_krypto_96996.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"świadczenie usług w zakresie kryptoaktywów na podstawie rozporządzenia MiCA"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding needs prior notification to the KNF, which can object within 60 working days (extendable by up to 20 working days while it waits for information). For national payment institutions the thresholds are 20%, 30% and 50% (Payment Services Act, Art. 72a); for banks they are 10%, 20%, one third and 50% (Banking Law, Art. 25). Shares acquired in breach carry no voting rights.","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://knf.gov.pl/knf/pl/komponenty/img/Stanowisko_UKNF_-_nadzor_nad_krypto_96996.pdf","source":"https://knf.gov.pl/knf/pl/komponenty/img/Stanowisko_UKNF_-_nadzor_nad_krypto_96996.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":0,"source":"https://knf.gov.pl/knf/pl/komponenty/img/Stanowisko_UKNF_-_nadzor_nad_krypto_96996.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"KNF nie posiada jeszcze podstawy prawnej do wydawania zezwoleń"},"answer":"The Crypto-Asset Service Provider authorization under MiCA (zezwolenie na świadczenie usług w zakresie kryptoaktywów) is issued by Polish Financial Supervision Authority (KNF) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The official register lists 0 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"knf-poland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/poland/","jurisdiction_name":"Poland","region":"eu-eea","regulator_name":"KNF","regulator_url":"/licensing/regulators/knf-poland/","family_short":"CASP","capital_eur":null,"months":null},{"id":"casp-mica--SK","family":"casp-mica","jurisdiction":"SK","regulator_id":"nbs-slovakia","official_name":{"value":"Crypto-asset service provider licence under MiCA (povolenie na činnosť poskytovateľa služieb kryptoaktív)","source":"https://subjekty.nbs.sk/?c=1418","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Poskytovatelia služieb kryptoaktív"},"legal_basis":[{"value":"Act No 248/2024 on certain obligations and powers in the field of crypto-assets (and amending certain laws)","source":"https://www.slov-lex.sk/pravne-predpisy/SK/ZZ/2024/248/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sk-act-248-2024","eu-mica-2023-1114"],"activity_ids":["crypto-custody","crypto-trading-platform","crypto-fiat-exchange","crypto-crypto-exchange","crypto-order-execution","crypto-placing","crypto-order-reception-transmission","crypto-advice","crypto-portfolio-management","crypto-transfer"],"passporting":"eu-eea","timelines":{"statutory":{"value":"40 working days after the application is complete (MiCA Art. 63, applied by Act No. 248/2024 Coll.)","source":"https://nbs.sk/newsletter/mica-zakon-a-dalsie-dolezite-krypto-novinky-z-pohladu-nbs/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":null},"register_url":{"value":"https://nbs.sk/aktuality/kryptoaktiva-po-mica-na-slovensku-posobi-sest-licencovanych-poskytovatelov-investicne-riziko-zostava/","source":"https://nbs.sk/aktuality/kryptoaktiva-po-mica-na-slovensku-posobi-sest-licencovanych-poskytovatelov-investicne-riziko-zostava/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":6,"source":"https://nbs.sk/aktuality/kryptoaktiva-po-mica-na-slovensku-posobi-sest-licencovanych-poskytovatelov-investicne-riziko-zostava/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Crypto-asset service provider licence under MiCA (povolenie na činnosť poskytovateľa služieb kryptoaktív) is issued by National Bank of Slovakia (NBS) under Act No 248/2024 on certain obligations and powers in the field of crypto-assets (and amending certain laws). It can be passported to the other EU/EEA states by notification. The official register lists 6 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"nbs-slovakia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/casp-mica/slovakia/","jurisdiction_name":"Slovakia","region":"eu-eea","regulator_name":"NBS","regulator_url":"/licensing/regulators/nbs-slovakia/","family_short":"CASP","capital_eur":null,"months":1.8},{"id":"emi--CZ--small-scale","family":"emi","jurisdiction":"CZ","regulator_id":"cnb-czechia","official_name":{"value":"Small-scale Electronic Money Issuer authorisation (povolení k činnosti malého vydavatele elektronických peněz - VEPMR)","source":"https://www.cnb.cz/en/supervision-financial-market/conduct-of-supervision/licensing-and-approval-proceedings/licensing-and-approval-proceedings-payment-institutions/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Application for authorisation to operate as a small-scale electronic money issuer"},"legal_basis":[{"value":"Directive 2009/110/EC on electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","fees":{"application":{"value":"CZK 10,000","source":"https://www.zakonyprolidi.cz/cs/2004-634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"vydavatele elektronických peněz malého rozsahu Kč 10000"}},"timelines":{"statutory":{"value":"30 days (general administrative code deadline, extendable by 30 days)","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"zapíše žadatele do seznamu"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance.","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Osoba nebo osoby jednající ve shodě oznámí předem České národní bance svůj záměr"}},"register_url":{"value":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":11,"source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Small-scale electronic money issuers 13 11 11"},"answer":"The Small-scale Electronic Money Issuer authorisation (povolení k činnosti malého vydavatele elektronických peněz - VEPMR) is issued by Czech National Bank (CNB) under Directive 2009/110/EC on electronic money institutions (EMD2). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 11 current holders. The legal decision period is 30 days (general administrative code deadline, extendable by 30 days). The application fee is CZK 10,000.","derived_from":"cnb-czechia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/czech-republic-small-scale/","jurisdiction_name":"Czech Republic","region":"eu-eea","regulator_name":"CNB","regulator_url":"/licensing/regulators/cnb-czechia/","family_short":"EMI","capital_eur":null,"months":1},{"id":"emi--CZ","family":"emi","jurisdiction":"CZ","regulator_id":"cnb-czechia","official_name":{"value":"Electronic Money Institution licence (povolení k činnosti instituce elektronických peněz)","source":"https://www.cnb.cz/en/supervision-financial-market/conduct-of-supervision/licensing-and-approval-proceedings/licensing-and-approval-proceedings-payment-institutions/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Application for authorisation to operate as an electronic money institution"},"legal_basis":[{"value":"Directive 2009/110/EC on electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"CZK 50,000","source":"https://www.zakonyprolidi.cz/cs/2004-634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"instituce elektronických peněz Kč 50000"}},"timelines":{"statutory":{"value":"3 months from commencement of proceedings","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Rozhodnutí o žádosti podle odstavce 1 Česká národní banka vydá do 3 měsíců"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance.","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Osoba nebo osoby jednající ve shodě oznámí předem České národní bance svůj záměr"}},"register_url":{"value":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":3,"source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Electronic money institutions 3 3 3"},"answer":"The Electronic Money Institution licence (povolení k činnosti instituce elektronických peněz) is issued by Czech National Bank (CNB) under Directive 2009/110/EC on electronic money institutions (EMD2). It can be passported to the other EU/EEA states by notification. The official register lists 3 current holders. The legal decision period is 3 months from commencement of proceedings. The application fee is CZK 50,000. Ownership changes need the regulator's approval before completion.","derived_from":"cnb-czechia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/czech-republic/","jurisdiction_name":"Czech Republic","region":"eu-eea","regulator_name":"CNB","regulator_url":"/licensing/regulators/cnb-czechia/","family_short":"EMI","capital_eur":null,"months":3},{"id":"emi--DE","family":"emi","jurisdiction":"DE","regulator_id":"bafin-germany","official_name":{"value":"Electronic money institution licence (Erlaubnis für das E-Geld-Geschäft nach § 11 ZAG)","source":"https://www.gesetze-im-internet.de/zag_2018/__11.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Erlaubnis für das E-Geld-Geschäft"},"legal_basis":[{"value":"German Electronic Securities Act (Gesetz über elektronische Wertpapiere - eWpG)","source":"https://www.gesetze-im-internet.de/ewpg/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/110/EC on electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["de-electronic-securities-act","eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"nach Zeitaufwand (billed based on staff time spent)","source":"https://www.gesetze-im-internet.de/findagebv/anlage.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"11.1.2 Erteilung der Erlaubnis zum Betreiben des E-Geld-Geschäfts nach Zeitaufwand"},"annual":{"value":"Annual cost allocation levy (Umlage) based on transaction volume","source":"https://www.bafin.de/DE/die-bafin/ueber-die-bafin/organisation/finanzierung/finanzierung_node.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Um die Ausgaben des laufenden Jahres zu decken, erhebt die Bafin eine Vorauszahlung"}},"timelines":{"statutory":{"value":"3 months from receipt of complete application, maximum 12 months overall","source":"https://www.gesetze-im-internet.de/zag_2018/__10.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Liegen innerhalb von zwölf Monaten ab Eingang des Antrags ... keine ausreichenden Angaben vor"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining control of a credit institution, payment institution, or investment firm, requires prior written notification to BaFin and the Deutsche Bundesbank. BaFin conducts an assessment of acquirer reliability, professional competence, financial soundness, and money laundering risks within 60 working days from receipt of a complete filing, interruptible once by up to 20 working days (or 30 working days if non-EEA) to request additional information, under Section 2c KWG, applied mutatis mutandis to payment and e-money institutions via Section 14 ZAG and to investment firms via Section 24 WpIG.","source":"https://www.gesetze-im-internet.de/kredwg/__2c.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"innerhalb von 60 Arbeitstagen ab dem Datum des Schreibens ... zu beurteilen"}},"register_url":{"value":"https://portal.mvp.bafin.de/database/ZahlInstInfo/","source":"https://portal.mvp.bafin.de/database/ZahlInstInfo/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":14,"source":"https://portal.mvp.bafin.de/database/ZahlInstInfo/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"E-Geld-Institut"},"answer":"The Electronic money institution licence (Erlaubnis für das E-Geld-Geschäft nach § 11 ZAG) is issued by Federal Financial Supervisory Authority (BaFin) under German Electronic Securities Act (Gesetz über elektronische Wertpapiere - eWpG). It can be passported to the other EU/EEA states by notification. The official register lists 14 current holders. The legal decision period is 3 months from receipt of complete application, maximum 12 months overall. Ownership changes need the regulator's approval before completion.","derived_from":"bafin-germany","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/germany/","jurisdiction_name":"Germany","region":"eu-eea","regulator_name":"BaFin","regulator_url":"/licensing/regulators/bafin-germany/","family_short":"EMI","capital_eur":null,"months":3},{"id":"emi--EE--exception","family":"emi","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Electronic money institution operating with an exception","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2218]=2218","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Supervised Entities"},"legal_basis":[{"value":"Payment Institutions and E-money Institutions Act","source":"https://www.riigiteataja.ee/en/akt/515032024001","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ee-payment-institutions-and-e-money-institutions-act","eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/supervised-entities?closed=1&st[2218]=2218","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2218]=2218","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":0,"source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2218]=2218","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Supervised Entities"},"answer":"The Electronic money institution operating with an exception is issued by Finantsinspektsioon (FI) under Payment Institutions and E-money Institutions Act. It can be passported to the other EU/EEA states by notification. The official register lists 0 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/estonia-exception/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"EMI","capital_eur":null,"months":null},{"id":"emi--EE","family":"emi","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Operating licence as an electronic money institution","source":"https://www.fi.ee/en/payment-and-e-money-services/applying-operating-licence-payment-services/operating-licences-payment-institutions-and-e-money-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Operating licences for an e-money institution"},"legal_basis":[{"value":"Payment Institutions and E-money Institutions Act","source":"https://www.riigiteataja.ee/en/akt/515032024001","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ee-payment-institutions-and-e-money-institutions-act","eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","timelines":{"statutory":{"value":"Within 3 months after all necessary documentation is received, and not later than 6 months after initial receipt","source":"https://www.fi.ee/en/payment-and-e-money-services/applying-operating-licence-payment-services/operating-licences-payment-institutions-and-e-money-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within three months after all the necessary documentation and data have been received"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/supervised-entities?closed=1&st[2217]=2217","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2217]=2217","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":4,"source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2217]=2217","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Estonian e-money institutions"},"answer":"The Operating licence as an electronic money institution is issued by Finantsinspektsioon (FI) under Payment Institutions and E-money Institutions Act. It can be passported to the other EU/EEA states by notification. The official register lists 4 current holders. The legal decision period is Within 3 months after all necessary documentation is received, and not later than 6 months after initial receipt. Ownership changes need the regulator's approval before completion.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/estonia/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"EMI","capital_eur":null,"months":3},{"id":"emi--ES","family":"emi","jurisdiction":"ES","regulator_id":"banco-de-espana","official_name":{"value":"Entidad de dinero electrónico (EDE) / Electronic money institution authorization","source":"https://sedeelectronica.bde.es/sede/es/tramites/autorizacion-entidades-dinero-electronico-p221.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Autorización de Entidades de Dinero Electrónico"},"legal_basis":[{"value":"Ley 21/2011, de 26 de julio, de dinero electrónico","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2011-12909","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Real Decreto 778/2012, de 4 de mayo, de régimen jurídico de las entidades de dinero electrónico","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2012-5993","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["es-ley-dinero-electronico-2011-21","es-rd-dinero-electronico-2012-778","eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 0 (The application and licensing procedure does not accrue any statutory fee)","source":"https://sedeelectronica.bde.es/sede/es/tramites/autorizacion-entidades-dinero-electronico-p221.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"annual":{"value":"EUR 0 (Banco de España does not levy annual supervisory fees on domestic EMIs)","source":"https://sedeelectronica.bde.es/sede/es/tramites/autorizacion-entidades-dinero-electronico-p221.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application (maximum 12 months from initial filing; failure to notify within the statutory deadline implies administrative denial)","source":"https://sedeelectronica.bde.es/sede/es/tramites/autorizacion-entidades-dinero-electronico-p221.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"3 meses desde que se considere completa la documentación presentada"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person intending to acquire or increase, directly or indirectly, a qualifying holding reaching or exceeding 10%, 20%, 30%, or 50% of the share capital or voting rights, or to acquire control of an electronic money institution, payment institution, or credit financial establishment, must submit prior notification to Banco de España under Procedure ES_BDE_C056_P247 (or ES_BDE_C056_P114 for banks). Banco de España assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory maximum period of 60 working days from written acknowledgement of receipt. Closing without non-opposition suspends voting rights and triggers administrative penalties under Ley 10/2014 and Real Decreto 736/2019.","source":"https://sedeelectronica.bde.es/sede/es/tramites/adquisicion-participaciones-significativas-establecimientos-p247.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"60 días hábiles, a contar desde la fecha en que el Banco de España haya"}},"register_url":{"value":"https://www.bde.es/f/webbe/SGE/regis/ficheros/es/Registro_ServicioPagos.xlsx","source":"https://www.bde.es/f/webbe/SGE/regis/ficheros/es/Registro_ServicioPagos.xlsx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":12,"source":"https://www.bde.es/f/webbe/SGE/regis/ficheros/es/Registro_ServicioPagos.xlsx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Entidad de dinero electrónico"},"answer":"The Entidad de dinero electrónico (EDE) / Electronic money institution authorization is issued by Bank of Spain (BdE) under Ley 21/2011, de 26 de julio, de dinero electrónico. It can be passported to the other EU/EEA states by notification. The official register lists 12 current holders. The legal decision period is 3 months from receipt of a complete application (maximum 12 months from initial filing; failure to notify within the statutory deadline implies administrative denial).","derived_from":"banco-de-espana","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/spain/","jurisdiction_name":"Spain","region":"eu-eea","regulator_name":"BdE","regulator_url":"/licensing/regulators/banco-de-espana/","family_short":"EMI","capital_eur":null,"months":3},{"id":"emi--GB--semi","family":"emi","jurisdiction":"GB","regulator_id":"fca-uk","official_name":{"value":"Small Electronic Money Institution (SEMI) Registration","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The fee for a small EMI is Category 3"},"legal_basis":[{"value":"Electronic Money Regulations 2011 (SI 2011/99)","source":"https://www.legislation.gov.uk/uksi/2011/99/contents","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["gb-electronic-money-regulations-2011"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","fees":{"application":{"value":"GBP 1,130 (Pricing Category 3)","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Category 3: £1,130 fee"},"annual":{"value":"GBP 1,418 extra fee for small electronic money institutions (Fee-block G.11)","source":"https://www.fca.org.uk/firms/fees/how-we-calculate-annual-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"small electronic money institution (£1,418)"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested.","source":"https://www.fca.org.uk/firms/change-control/control-thresholds-bands","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Thresholds for control of Directive firms are defined in the following bands: 10% or more"}},"answer":"The Small Electronic Money Institution (SEMI) Registration is issued by Financial Conduct Authority (FCA) under Electronic Money Regulations 2011 (SI 2011/99). The application fee is GBP 1,130 (Pricing Category 3). Ownership changes need the regulator's approval before completion.","derived_from":"fca-uk","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/united-kingdom-semi/","jurisdiction_name":"United Kingdom","region":"europe-non-eu","regulator_name":"FCA","regulator_url":"/licensing/regulators/fca-uk/","family_short":"EMI","capital_eur":null,"months":null},{"id":"emi--GB","family":"emi","jurisdiction":"GB","regulator_id":"fca-uk","official_name":{"value":"Authorised Electronic Money Institution (AEMI)","source":"https://www.fca.org.uk/firms/authorisation/pre-application-support-service","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"electronic money institution applicants"},"legal_basis":[{"value":"Electronic Money Regulations 2011 (SI 2011/99)","source":"https://www.legislation.gov.uk/uksi/2011/99/contents","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["gb-electronic-money-regulations-2011"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","fees":{"application":{"value":"GBP 5,640 (Pricing Category 5)","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Category 5: £5,640 fee"},"annual":{"value":"GBP 2,000 standard minimum fee (Fee-block A.0) plus GBP 2,043 extra fee for large electronic money institutions (Fee-block G.10) plus variable levy based on average outstanding electronic money","source":"https://www.fca.org.uk/firms/fees/how-we-calculate-annual-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"large electronic money institution (£2,043)"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Regulation 9 of EMRs 2011","source":"https://www.legislation.gov.uk/uksi/2011/99/contents","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Determination of application for authorisation"},"observed":{"value":"Median elapsed determination time of 207 calendar days (Lower Quartile: 124 days, Upper Quartile: 269 days) across 44 payment services and e-money applications (PS1-4) determined in Q4 2025/26","source":"https://www.fca.org.uk/data/fca-authorisations-operating-service-metrics-2025-26-q4","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Payment Services/E-Money Authorisations and Variations"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested.","source":"https://www.fca.org.uk/firms/change-control/control-thresholds-bands","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Thresholds for control of Directive firms are defined in the following bands: 10% or more"}},"answer":"The Authorised Electronic Money Institution (AEMI) is issued by Financial Conduct Authority (FCA) under Electronic Money Regulations 2011 (SI 2011/99). The legal decision period is 3 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Regulation 9 of EMRs 2011. The application fee is GBP 5,640 (Pricing Category 5). Ownership changes need the regulator's approval before completion.","derived_from":"fca-uk","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/united-kingdom/","jurisdiction_name":"United Kingdom","region":"europe-non-eu","regulator_name":"FCA","regulator_url":"/licensing/regulators/fca-uk/","family_short":"EMI","capital_eur":null,"months":3},{"id":"emi--IE--small","family":"emi","jurisdiction":"IE","regulator_id":"central-bank-of-ireland","official_name":{"value":"Small Electronic Money Institution Registration","source":"https://www.centralbank.ie/regulation/how-we-regulate/authorisation/payment-authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Small Electronic Money Institutions"},"legal_basis":[{"value":"European Communities (Electronic Money) Regulations 2011 (S.I. No. 183/2011)","source":"https://www.irishstatutebook.ie/eli/2011/si/183/made/en/print","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ie-electronic-money-regulations-2011","eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.","source":"https://www.centralbank.ie/regulation/industry-market-sectors/payment-institutions/notification-process-for-proposed-acquisitions-of-qualifying-holdings","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"complete its assessment of the Notification within 60 working days"}},"answer":"The Small Electronic Money Institution Registration is issued by Central Bank of Ireland (CBI) under European Communities (Electronic Money) Regulations 2011 (S.I. No. 183/2011). It is a national licence: it does not give a passport to other EU/EEA states. Ownership changes need the regulator's approval before completion.","derived_from":"central-bank-of-ireland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/ireland-small/","jurisdiction_name":"Ireland","region":"eu-eea","regulator_name":"CBI","regulator_url":"/licensing/regulators/central-bank-of-ireland/","family_short":"EMI","capital_eur":null,"months":null},{"id":"emi--IE","family":"emi","jurisdiction":"IE","regulator_id":"central-bank-of-ireland","official_name":{"value":"Electronic Money Institution Authorisation","source":"https://www.centralbank.ie/regulation/how-we-regulate/authorisation/payment-authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Authorisation as a Payment Institution or Electronic Money Institution"},"legal_basis":[{"value":"European Communities (Electronic Money) Regulations 2011 (S.I. No. 183/2011)","source":"https://www.irishstatutebook.ie/eli/2011/si/183/made/en/print","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ie-electronic-money-regulations-2011","eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 0 (No application fee)","source":"https://www.centralbank.ie/regulation/how-we-regulate/authorisation/payment-authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"annual":{"value":"Minimum levy of EUR 6,625 plus a variable levy based on the firm's share of all transactions processed (Category N, S.I. No. 348/2026)","source":"https://www.irishstatutebook.ie/eli/2026/si/348/made/en/print","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.","source":"https://www.centralbank.ie/regulation/industry-market-sectors/payment-institutions/notification-process-for-proposed-acquisitions-of-qualifying-holdings","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"complete its assessment of the Notification within 60 working days"}},"answer":"The Electronic Money Institution Authorisation is issued by Central Bank of Ireland (CBI) under European Communities (Electronic Money) Regulations 2011 (S.I. No. 183/2011). It can be passported to the other EU/EEA states by notification. The application fee is EUR 0 (No application fee). Ownership changes need the regulator's approval before completion.","derived_from":"central-bank-of-ireland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/ireland/","jurisdiction_name":"Ireland","region":"eu-eea","regulator_name":"CBI","regulator_url":"/licensing/regulators/central-bank-of-ireland/","family_short":"EMI","capital_eur":null,"months":null},{"id":"emi--LT--restricted","family":"emi","jurisdiction":"LT","regulator_id":"bank-of-lithuania","official_name":{"value":"Electronic money institution licence for restricted activity","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=33&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Electronic money institution holding a licence issued in Lithuania for restricted activity"},"legal_basis":[{"value":"Republic of Lithuania Law on Electronic Money and Electronic Money Institutions No XI-1868","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lt-law-on-electronic-money","eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or becoming controlled, requires prior written notification to the Bank of Lithuania. The supervisory authority assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory 60 working days period (interruptible once by up to 20 working days for additional information) under Law on Banks Arts 24-25, applied mutatis mutandis to EMIs (EMI Law Art. 17) and PIs (PI Law Art. 10).","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person ... who have taken a decision on the acquisition of a qualifying holding"}},"register_url":{"value":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=33&market=1","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=33&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":2,"source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=33&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"All results 2"},"answer":"The Electronic money institution licence for restricted activity is issued by Bank of Lithuania (LB) under Republic of Lithuania Law on Electronic Money and Electronic Money Institutions No XI-1868. It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 2 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"bank-of-lithuania","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/lithuania-restricted/","jurisdiction_name":"Lithuania","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/bank-of-lithuania/","family_short":"EMI","capital_eur":null,"months":null},{"id":"emi--LT","family":"emi","jurisdiction":"LT","regulator_id":"bank-of-lithuania","official_name":{"value":"Electronic money institution licence for non-limited activity","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=32&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Electronic money institution, holding a licence issued in Lithuania for non-limited activity"},"local_name":"Elektroninių pinigų įstaigos licencija neribotai veiklai","legal_basis":[{"value":"Republic of Lithuania Law on Electronic Money and Electronic Money Institutions No XI-1868, Art. 13","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Article 13. Electronic money institution licence"},{"value":"Republic of Lithuania Law on Electronic Money and Electronic Money Institutions No XI-1868, Art. 22","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"initial capital of an electronic money institution shall be not less than EUR 350 000"},{"value":"Republic of Lithuania Law on Electronic Money and Electronic Money Institutions No XI-1868, Art. 25","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Article 25. Requirements for safeguarding of funds received from electronic money holders"},{"value":"Directive 2009/110/EC (EMD2), Art. 3, 4, 5","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"initial capital, as referred to in Articles 57 to 61 of Directive 2006/48/EC"}],"law_ids":["lt-law-on-electronic-money","lt-law-on-banks","lt-law-on-financial-institutions","eu-emd2-2009-110","eu-psd2-2015-2366","eu-dora-2022-2554","eu-mica-2023-1114"],"activity_ids":["e-money-issuance","emt-issuance","cash-placement","cash-withdrawal","payment-execution","payment-execution-credit-line","card-issuing-acquiring","money-remittance","payment-initiation","account-information"],"passporting":"eu-eea","passporting_note":{"value":"Authorized electronic money institutions can passport e-money issuance and payment services to all 30 EU/EEA member states under the freedom to provide services or freedom of establishment (via branches or agents) following regulatory notification forwarded within one month by the Bank of Lithuania.","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"right to issue electronic money in another Member State having established a branch"},"min_capital":{"value":350000,"currency":"EUR","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"initial capital of an electronic money institution shall be not less than EUR 350 000","note":"EUR 350,000 statutory minimum initial capital for a full (non-limited activity) electronic money institution licence under Article 22(2); a restricted activity EMI licence requires no statutory initial capital threshold but outstanding e-money cannot exceed EUR 900,000 under Article 14."},"own_funds_ongoing":{"value":"Ongoing own funds must at all times equal or exceed the higher of initial capital (EUR 350,000) or regulatory capital calculated under Method D (at least 2% of average outstanding electronic money) plus PSD2 capital requirements (Method A, B, or C) for payment services unrelated to electronic money issuance.","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"amount to at least 2% of the average outstanding electronic money"},"fees":{"application":{"value":"EUR 1,463","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=32&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","note":"State levy for licence examination established under Government Resolution No. 1458; payable to the State Tax Inspectorate (VMI). Bank of Lithuania guidance pages are subject to Cloudflare 403 on automated scripted requests."},"annual":{"value":"Annual supervisory fee of 0.65% of the institution's annual income; no minimum fee is in force (a EUR 5,000 minimum is only proposed from 2027)","source":"https://www.15min.lt/verslas/naujiena/finansai/vyriausybe-mokejimo-ir-e-pinigu-istaigos-lietuvos-bankui-uz-prieziura-turetu-moketi-daugiau-662-2770050","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"no later than within three months of the day of receipt of the application"}},"substance":[{"requirement":"Registered office and local business activity","value":"The institution must maintain its registered office in Lithuania and actually conduct the business of electronic money issuance within Lithuania.","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"registered office in the Republic of Lithuania, is not going to conduct the business"},{"requirement":"Corporate governance bodies","value":"A full EMI must establish a three-tier governance framework comprising a general meeting of shareholders, a board (collegial body), and a single-person head (CEO).","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"must have the following organs: the general meeting, the board and the head"},{"requirement":"Fit and proper key personnel (Board, CEO, MLRO)","value":"Board members, executive managers, and key function holders (Compliance Officer, AML/CFT Officer / MLRO) must demonstrate good repute, appropriate qualifications, and professional experience, subject to prior regulatory non-objection (30 working days review).","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"newly elected/appointed heads of the electronic money institution may assume office only if"},{"requirement":"Safeguarding of client funds","value":"Customer funds received for e-money issuance must be segregated from corporate funds no later than by the end of the next business day and held in designated safeguarding accounts at a central bank (Bank of Lithuania or Eurosystem central bank) or an authorized EU credit institution, or covered by an insurance guarantee.","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"deposited in a separate account in a credit institution ... the Bank of Lithuania"},{"requirement":"Operational and ICT resilience (DORA)","value":"Institutions must implement comprehensive operational risk management, ICT business continuity, and incident reporting arrangements compliant with the Digital Operational Resilience Act (Regulation (EU) 2022/2554), including controls on critical outsourcing.","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Important operational functions of electronic money issuance, including the functions relating to information technology"},{"requirement":"Mandatory statutory audit","value":"Annual financial statements must undergo statutory audit by an independent certified auditor, including specific reporting verifying separate accounting and internal control mechanisms for safeguarding client funds.","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"disclosing separate accounting information on the correctness of segregation of electronic money issuance"}],"people_assessed":{"value":"The Bank of Lithuania assesses fitness and propriety of board members, executive heads (CEO), key function holders (Head of Compliance, MLRO/AML Officer, Head of Internal Audit), as well as direct and indirect qualifying shareholders holding 10% or more of capital or voting rights, and ultimate beneficial owners (UBOs) acting in concert.","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"identity of the persons who acquire/hold qualifying holdings ... identity of the heads"},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a direct or indirect qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or becoming a controlling parent of an EMI, requires prior written notification to the Bank of Lithuania. The regulator assesses acquirer reputation, financial soundness, executive fitness, and AML/CFT risk within a statutory assessment period of 60 working days (interruptible once by up to 20 working days for supplementary information, or 30 working days for non-EU acquirers) under Law on Banks Arts 24-25 (applied via EMI Law Art. 17). Failure to notify or proceeding over objection divests all voting rights.","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"would reach or exceed 20 per cent, 30 per cent or 50 per cent"}},"transferability":{"value":"The licence cannot be assigned or transferred to another legal entity. Under the Law on Electronic Money, the licence belongs exclusively to the corporate entity to which it was issued. Licence transfers can only occur through a corporate acquisition (share deal) where the entity changes ownership following Bank of Lithuania qualifying holding assessment. An asset sale or business transfer requires the acquiring entity to apply for its own separate EMI licence.","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Electronic money institution licence shall be issued only to a legal person applying for"},"conditions":[{"condition":"Activity commencement deadline","value":"The institution must commence licensed electronic money issuance activities within 12 months of licence grant; failure to do so provides statutory grounds for licence revocation.","source":"https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/TAIS.183130/asr","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"priežiūros institucija turi teisę atšaukti ... jeigu finansų įstaiga nepasinaudojo licencija per 12 mėnesių"},{"condition":"Dormancy revocation","value":"If an electronic money institution ceases its licensed activities for more than 6 consecutive months, the Bank of Lithuania may initiate formal withdrawal of the licence.","source":"https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/TAIS.183130/asr","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","note":"Statutory ground for withdrawal under Law on Financial Institutions Art. 10(1)(2), cross-referenced by Article 15(1) of the Law on Electronic Money."},{"condition":"Client funds safeguarding segregation","value":"Funds received from electronic money holders must be strictly segregated from corporate funds, deposited in designated safeguarding accounts at a central bank or qualifying credit institution, and are legally immune from claims by the institution's creditors in insolvency.","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"no execution may be levied on such funds"},{"condition":"Prohibition of interest","value":"Electronic money institutions are strictly prohibited from granting interest, returns, or any monetary benefit linked to the duration or amount of funds held by e-money holders.","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"prohibited from granting interest or any other benefit linked to the duration of holding"},{"condition":"Ongoing regulatory reporting","value":"EMIs must submit periodic financial statements, own funds and capital adequacy calculations, safeguarding audit reports, and operational risk metrics to the Bank of Lithuania.","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/573b9080166911eaad00dac7ebcb2435/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"must submit to the competent authority the audited financial statements and a report on audit"}],"register_url":{"value":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=32&market=1","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=32&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Electronic money institution, holding a licence issued in Lithuania for non-limited activity"},"licensee_count":{"value":70,"source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=32&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"All results 70"},"answer":"The Lithuanian Electronic Money Institution (EMI) licence for non-limited activity, issued by the Bank of Lithuania, authorizes firms to issue electronic money, provide full PSD2 payment services, and issue e-money tokens across 30 EU/EEA countries via single-market passporting. Authorisation requires a minimum initial capital of EUR 350,000, local corporate governance, robust safeguarding segregation, and fit-and-proper leadership; the Bank of Lithuania must decide within 3 months of a complete application.","faq":[{"q":"Can a Lithuanian EMI passport its services across the entire European Union?","a":"Yes. An electronic money institution licensed in Lithuania can passport both electronic money issuance and payment services into all 30 European Union and European Economic Area member states under EU freedom of services or freedom of establishment. The process requires submitting a passporting notification to the Bank of Lithuania, which transmits the file to the host state's national competent authority within one month."},{"q":"What is the minimum initial capital required for an EMI licence in Lithuania?","a":"Under Article 22(2) of the Lithuanian Law on Electronic Money, an unrestricted electronic money institution requires a minimum initial capital of EUR 350,000 composed of Common Equity Tier 1 capital items. On an ongoing basis, the EMI must hold own funds equal to the higher of initial capital or Method D calculation (2% of average outstanding electronic money) plus payment service requirements."},{"q":"Can a Lithuanian EMI connect directly to SEPA without an intermediary commercial bank?","a":"Yes. Lithuanian-licensed EMIs can access CENTROlink, the proprietary payment engine operated by the Bank of Lithuania. CENTROlink connects directly to Eurosystem clearing infrastructures (STEP2, RT1, and TIPS), allowing non-bank payment and e-money institutions to issue individual Lithuanian IBANs, execute instant SEPA payments 24/7/365, and avoid reliance on commercial correspondent banks for euro clearing."},{"q":"How long does it take to obtain an EMI licence from the Bank of Lithuania?","a":"Statutorily, the Bank of Lithuania must decide on an EMI application within 3 months of receiving a complete package. Before that clock starts, the process includes pre-application consultations through the Newcomer Programme, formal completeness vetting, and answering regulatory deficiency inquiries regarding business continuity, AML/CFT controls, and ICT resilience."},{"q":"What regulatory approval is required to acquire an existing Lithuanian EMI?","a":"An EMI licence is non-transferable and can only be acquired via a share purchase. Any acquirer intending to reach or exceed qualifying holding thresholds of 10%, 20%, 30%, or 50% must submit a prior notification to the Bank of Lithuania. The regulator assesses acquirer suitability, reputation, and source of funds within 60 working days, interruptible by up to 20 working days for inquiries."},{"q":"How must a Lithuanian EMI safeguard customer funds?","a":"Under Article 25 of the Law on Electronic Money, customer funds received for e-money issuance must be segregated from the institution's own assets by the end of the next business day. They must be deposited in dedicated safeguarding accounts with the Bank of Lithuania, an EU central bank, or a licensed commercial credit institution, or backed by an approved insurance policy or guarantee."}],"open_questions":[],"type":"licence","url":"/licensing/licences/emi/lithuania/","jurisdiction_name":"Lithuania","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/bank-of-lithuania/","family_short":"EMI","capital_eur":350000,"months":3},{"id":"emi--LU","family":"emi","jurisdiction":"LU","regulator_id":"cssf-luxembourg","official_name":{"value":"Electronic money institution authorisation","source":"https://www.cssf.lu/en/authorisation-procedure-payment-institution-or-electronic-money-institution-registration-aisp/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"holding a written authorisation as PI or EMI by the CSSF"},"legal_basis":[{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 30,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A single lump sum of EUR 30,000 for the examination of each authorisation request"},"annual":{"value":"EUR 30,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Up to 1,000 million EUR 30,000"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application, maximum 12 months overall","source":"https://www.cssf.lu/en/Document/law-of-10-november-2009/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"dans les trois mois suivant la réception de la demande"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or causing an entity to become a subsidiary, requires prior written notification to the CSSF. The CSSF conducts a prudential assessment of acquirer suitability, reputation, financial soundness, and AML risk within 60 working days (interruptible once by up to 20 working days, or 30 working days for non-EU acquirers) under Articles 18 and 18-1 of the Law of 5 April 1993, Article 12 of the Law of 10 November 2009, Article 83 of Regulation (EU) 2023/1114 (MiCA), and Circular CSSF 17/669 adopting the Joint ESA Guidelines.","source":"https://www.cssf.lu/en/Document/circular-cssf-17-669/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Adoption of the Joint Guidelines of ESMA, EBA and EIOPA on the prudential assessment"}},"register_url":{"value":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=EMI","source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=EMI","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":21,"source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=EMI","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"totalElements: 21"},"answer":"The Electronic money institution authorisation is issued by Commission de Surveillance du Secteur Financier (CSSF) under Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2). It can be passported to the other EU/EEA states by notification. The official register lists 21 current holders. The legal decision period is 3 months from receipt of a complete application, maximum 12 months overall. The application fee is EUR 30,000.","derived_from":"cssf-luxembourg","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/luxembourg/","jurisdiction_name":"Luxembourg","region":"eu-eea","regulator_name":"CSSF","regulator_url":"/licensing/regulators/cssf-luxembourg/","family_short":"EMI","capital_eur":null,"months":3},{"id":"emi--LV--registered","family":"emi","jurisdiction":"LV","regulator_id":"latvijas-banka","official_name":{"value":"Registered electronic money institution","source":"https://www.bank.lv/en/operational-areas/licensing/electronic-money-institutions/registered-electronic-money-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Registered electronic money institution"},"legal_basis":[{"value":"Law on Payment Services and Electronic Money","source":"https://likumi.lv/ta/en/en/id/206634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lv-law-on-payment-services-and-electronic-money","eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 2,500 (standard) or EUR 450 (innovative PSP)","source":"https://www.bank.lv/en/operational-areas/licensing/electronic-money-institutions/registered-electronic-money-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"EUR 2 500 for the examination of an application for registration"},"annual":{"value":"EUR 1,000 plus up to 1.4% of gross revenue","source":"https://www.bank.lv/en/operational-areas/licensing/electronic-money-institutions/registered-electronic-money-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"EUR 1 000 per calendar year and up to 1.4% (inclusive)"}},"timelines":{"statutory":{"value":"15 working days completeness check, followed by 1 month decision period from receipt of complete application","source":"https://www.bank.lv/en/operational-areas/licensing/electronic-money-institutions/registered-electronic-money-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"take a decision on registration ... within one month of receiving"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 33%, or 50% of capital or voting rights, or causing the entity to become a subsidiary, requires prior notification and approval from Latvijas Banka. Under Latvijas Banka Regulation No. 241 and the Credit Institution Law, the assessment period is 60 working days from receipt of a complete notification, interruptible once by up to 20 or 30 working days to request supplementary documents; Latvijas Banka evaluates reputation, financial soundness, and AML/CFT compliance before issuing approval.","source":"https://www.bank.lv/en/operational-areas/licensing/credit-institution/procedure-for-the-evaluation-of-qualifying-holding","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"takes a decision to approve or prohibit the acquisition ... within 60 working days"}},"register_url":{"value":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=82-registered-electronic-money-institutions","source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=82-registered-electronic-money-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":1,"source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=82-registered-electronic-money-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Total results: 1"},"answer":"The Registered electronic money institution is issued by Latvijas Banka (LB) under Law on Payment Services and Electronic Money. It can be passported to the other EU/EEA states by notification. The official register lists 1 current holder. The legal decision period is 15 working days completeness check, followed by 1 month decision period from receipt of complete application. The application fee is EUR 2,500 (standard) or EUR 450 (innovative PSP).","derived_from":"latvijas-banka","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/latvia-registered/","jurisdiction_name":"Latvia","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/latvijas-banka/","family_short":"EMI","capital_eur":null,"months":0.7},{"id":"emi--LV","family":"emi","jurisdiction":"LV","regulator_id":"latvijas-banka","official_name":{"value":"Authorised electronic money institution licence","source":"https://www.bank.lv/en/operational-areas/licensing/electronic-money-institutions/licensed-electronic-money-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed electronic money institution"},"legal_basis":[{"value":"Law on Payment Services and Electronic Money","source":"https://likumi.lv/ta/en/en/id/206634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lv-law-on-payment-services-and-electronic-money","eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 5,000 (standard) or EUR 450 (innovative PSP)","source":"https://www.bank.lv/en/operational-areas/licensing/electronic-money-institutions/licensed-electronic-money-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"EUR 5 000 for the examination of an application for a licence"},"annual":{"value":"EUR 7,000 plus up to 1.4% of gross revenue (or EUR 1,000 fixed for innovative PSPs in first 3 years)","source":"https://www.bank.lv/en/operational-areas/licensing/electronic-money-institutions/licensed-electronic-money-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"EUR 7 000 per calendar year and up to 1.4% (inclusive)"}},"timelines":{"statutory":{"value":"15 working days completeness check, followed by 3 months decision period from receipt of complete application","source":"https://www.bank.lv/en/operational-areas/licensing/electronic-money-institutions/licensed-electronic-money-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"take a decision on granting a licence ... within three months of receiving"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 33%, or 50% of capital or voting rights, or causing the entity to become a subsidiary, requires prior notification and approval from Latvijas Banka. Under Latvijas Banka Regulation No. 241 and the Credit Institution Law, the assessment period is 60 working days from receipt of a complete notification, interruptible once by up to 20 or 30 working days to request supplementary documents; Latvijas Banka evaluates reputation, financial soundness, and AML/CFT compliance before issuing approval.","source":"https://www.bank.lv/en/operational-areas/licensing/credit-institution/procedure-for-the-evaluation-of-qualifying-holding","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"takes a decision to approve or prohibit the acquisition ... within 60 working days"}},"register_url":{"value":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=78-authorized-electronic-money-institutions","source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=78-authorized-electronic-money-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":12,"source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=78-authorized-electronic-money-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Total results: 12"},"answer":"The Authorised electronic money institution licence is issued by Latvijas Banka (LB) under Law on Payment Services and Electronic Money. It can be passported to the other EU/EEA states by notification. The official register lists 12 current holders. The legal decision period is 15 working days completeness check, followed by 3 months decision period from receipt of complete application. The application fee is EUR 5,000 (standard) or EUR 450 (innovative PSP).","derived_from":"latvijas-banka","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/latvia/","jurisdiction_name":"Latvia","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/latvijas-banka/","family_short":"EMI","capital_eur":null,"months":0.7},{"id":"emi--MT","family":"emi","jurisdiction":"MT","regulator_id":"mfsa-malta","official_name":{"value":"Electronic money institution licence","source":"https://legislation.mt/getpdf/683418610db9942428cf9d49","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"licence to issue electronic money and provide payment services"},"legal_basis":[{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 15,000","source":"https://legislation.mt/getpdf/678e17bf0dba9f09507842db","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"fifteen thousand euro (€15,000)"},"annual":{"value":"EUR 35,000 base + higher of 0.02% total assets or aggregate of 0.0003% payment transaction value and 0.01% average daily outstanding electronic money (max EUR 250,000)","source":"https://legislation.mt/getpdf/678e17bf0dba9f09507842db","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"thirty-five thousand euro (€35,000)"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application","source":"https://legislation.mt/getpdf/683418610db9942428cf9d49","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within three months of receipt of the application"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding needs the MFSA's prior approval. For payment and e-money institutions the Financial Institutions Act sets the thresholds at 20%, 30% and 50%; for banks the Banking Act adds a 60-working-day assessment period that can be extended.","source":"https://legislation.mt/getpdf/683418610db9942428cf9d49","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://euclid.eba.europa.eu/register/downloads/PSDMD/20260924/download-PSDMD-202609240000.zip","source":"https://euclid.eba.europa.eu/register/downloads/PSDMD/20260924/download-PSDMD-202609240000.zip","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":43,"source":"https://euclid.eba.europa.eu/register/downloads/PSDMD/20260924/download-PSDMD-202609240000.zip","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"43 electronic money institutions registered under Malta Financial Services Authority in EBA PSDMD register"},"answer":"The Electronic money institution licence is issued by Malta Financial Services Authority (MFSA) under Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2). It can be passported to the other EU/EEA states by notification. The official register lists 43 current holders. The legal decision period is 3 months from receipt of a complete application. The application fee is EUR 15,000.","derived_from":"mfsa-malta","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/malta/","jurisdiction_name":"Malta","region":"eu-eea","regulator_name":"MFSA","regulator_url":"/licensing/regulators/mfsa-malta/","family_short":"EMI","capital_eur":null,"months":3},{"id":"emi--NL--exempt","family":"emi","jurisdiction":"NL","regulator_id":"dnb-netherlands","official_name":{"value":"Exempt electronic money institution registration (Vrijstelling elektronischgeldinstelling)","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-sectors/electronic-money-institutions/authorisation-as-an-electronic-money-institution-overview/exemption-from-the-authorisation-requirement/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Exemption from the authorisation requirement"},"legal_basis":[{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 3:95 Wft and MiCA Articles 41 and 83, acquiring, increasing, or disposing of a qualifying holding (direct or indirect holding of 10% or more of voting rights or shares, or exercising significant influence) in a payment institution, EMI, or ART issuer requires a prior Declaration of No-Objection (DNO / VVGB) from DNB (the ECB assesses banks). Threshold bandwidth upper limits are set at 20%, 30/33%, 50%, or 100%. The statutory decision period is 60 working days from receipt of a complete application, extendable once by up to 30 working days for RFIs, governed by lex silencio positivo.","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-themes/declaration-of-no-objection/dno-application-time-frame/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The statutory decision period for a DNO application is 60 working days"}},"answer":"The Exempt electronic money institution registration (Vrijstelling elektronischgeldinstelling) is issued by De Nederlandsche Bank (DNB) under Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2). It is a national licence: it does not give a passport to other EU/EEA states. Ownership changes need the regulator's approval before completion.","derived_from":"dnb-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/netherlands-exempt/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"DNB","regulator_url":"/licensing/regulators/dnb-netherlands/","family_short":"EMI","capital_eur":null,"months":null},{"id":"emi--NL","family":"emi","jurisdiction":"NL","regulator_id":"dnb-netherlands","official_name":{"value":"Electronic money institution licence (Vergunning elektronischgeldinstelling)","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-sectors/electronic-money-institutions/authorisation-as-an-electronic-money-institution-overview/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Authorisation as an electronic money institution"},"legal_basis":[{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 6,800","source":"https://wetten.overheid.nl/BWBR0041647/2024-12-30","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Wft.D1.05 ... € 6.800"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-sectors/electronic-money-institutions/authorisation-as-an-electronic-money-institution-overview/how-long-will-it-take-to-consider-my-application-for-authorisation/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 3:95 Wft and MiCA Articles 41 and 83, acquiring, increasing, or disposing of a qualifying holding (direct or indirect holding of 10% or more of voting rights or shares, or exercising significant influence) in a payment institution, EMI, or ART issuer requires a prior Declaration of No-Objection (DNO / VVGB) from DNB (the ECB assesses banks). Threshold bandwidth upper limits are set at 20%, 30/33%, 50%, or 100%. The statutory decision period is 60 working days from receipt of a complete application, extendable once by up to 30 working days for RFIs, governed by lex silencio positivo.","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-themes/declaration-of-no-objection/dno-application-time-frame/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The statutory decision period for a DNO application is 60 working days"}},"answer":"The Electronic money institution licence (Vergunning elektronischgeldinstelling) is issued by De Nederlandsche Bank (DNB) under Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2). It can be passported to the other EU/EEA states by notification. The legal decision period is 3 months from receipt of a complete application. The application fee is EUR 6,800. Ownership changes need the regulator's approval before completion.","derived_from":"dnb-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/netherlands/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"DNB","regulator_url":"/licensing/regulators/dnb-netherlands/","family_short":"EMI","capital_eur":null,"months":3},{"id":"emi--PL","family":"emi","jurisdiction":"PL","regulator_id":"knf-poland","official_name":{"value":"Electronic Money Institution licence (krajowa instytucja pieniądza elektronicznego - KIO)","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/oplaty_i_koszty","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"zezwolenia na prowadzenie działalności w charakterze krajowej instytucji pieniądza elektronicznego"},"legal_basis":[{"value":"Directive 2009/110/EC on electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 1,250, payable in PLN, for the permit application","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/oplaty_i_koszty","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"3 months from a complete application","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"terminie 3 miesięcy od dnia otrzymania wniosku"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding needs prior notification to the KNF, which can object within 60 working days (extendable by up to 20 working days while it waits for information). For national payment institutions the thresholds are 20%, 30% and 50% (Payment Services Act, Art. 72a); for banks they are 10%, 20%, one third and 50% (Banking Law, Art. 25). Shares acquired in breach carry no voting rights.","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The Electronic Money Institution licence (krajowa instytucja pieniądza elektronicznego - KIO) is issued by Polish Financial Supervision Authority (KNF) under Directive 2009/110/EC on electronic money institutions (EMD2). It can be passported to the other EU/EEA states by notification. The legal decision period is 3 months from a complete application. The application fee is EUR 1,250, payable in PLN, for the permit application. Ownership changes need the regulator's approval before completion.","derived_from":"knf-poland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/poland/","jurisdiction_name":"Poland","region":"eu-eea","regulator_name":"KNF","regulator_url":"/licensing/regulators/knf-poland/","family_short":"EMI","capital_eur":null,"months":3},{"id":"emi--SK","family":"emi","jurisdiction":"SK","regulator_id":"nbs-slovakia","official_name":{"value":"Electronic money institution licence (povolenie na vydávanie a správu elektronických peňazí bez obmedzenia rozsahu)","source":"https://subjekty.nbs.sk/?c=945","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Inštitúcie elektronických peňazí"},"legal_basis":[{"value":"Directive 2009/110/EC on electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-emd2-2009-110"],"activity_ids":["e-money-issuance","payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_approval","summary":null},"answer":"The Electronic money institution licence (povolenie na vydávanie a správu elektronických peňazí bez obmedzenia rozsahu) is issued by National Bank of Slovakia (NBS) under Directive 2009/110/EC on electronic money institutions (EMD2). It can be passported to the other EU/EEA states by notification. Ownership changes need the regulator's approval before completion.","derived_from":"nbs-slovakia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/emi/slovakia/","jurisdiction_name":"Slovakia","region":"eu-eea","regulator_name":"NBS","regulator_url":"/licensing/regulators/nbs-slovakia/","family_short":"EMI","capital_eur":null,"months":null},{"id":"fund-manager--AE-ADGM","family":"fund-manager","jurisdiction":"AE-ADGM","regulator_id":"fsra-adgm","official_name":{"value":"Financial Services Permission for Managing a Collective Investment Fund (Category 3C)","source":"https://en.adgm.thomsonreuters.com/entiresection/7549","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"FSRA Fund Rulebook (FUNDS)","source":"https://en.adgm.thomsonreuters.com/rulebook/fund-rulebook-funds-ver13160926","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-adgm-funds-rules"],"activity_ids":["aif-management","ucits-management","portfolio-management"],"passporting":"none","timelines":{"statutory":{"value":"Within a reasonable time from submission of a complete application","source":"https://en.adgm.thomsonreuters.com/entiresection/12521","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for a Financial Services Permission within a reasonable time"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under FSMR section 105 and GEN 8.8, prior written approval from the FSRA is required before a person becomes a controller or increases control across 20%, 30%, or 50% thresholds. A controller is defined as holding 10% or more of voting rights or capital, or exercising significant influence. The statutory determination period is 90 days from receipt of a complete notice, accompanied by a USD 1,000 application fee.","source":"https://en.adgm.thomsonreuters.com/entiresection/7993","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 8.8.4 within 90 days"}},"register_url":{"value":"https://www.adgm.com/public-registers/fsra/firms","source":"https://www.adgm.com/public-registers/fsra/firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":158,"source":"https://www.adgm.com/public-registers/fsra/firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Active firms with Managing a Collective Investment Fund activity"},"answer":"The Financial Services Permission for Managing a Collective Investment Fund (Category 3C) is issued by Financial Services Regulatory Authority (FSRA) under FSRA Fund Rulebook (FUNDS). The official register lists 158 current holders. The legal decision period is Within a reasonable time from submission of a complete application. Ownership changes need the regulator's approval before completion.","derived_from":"fsra-adgm","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/adgm/","jurisdiction_name":"Abu Dhabi Global Market (ADGM)","region":"middle-east","regulator_name":"FSRA","regulator_url":"/licensing/regulators/fsra-adgm/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--AE-DIFC","family":"fund-manager","jurisdiction":"AE-DIFC","regulator_id":"dfsa-difc","official_name":{"value":"Financial Services Permission for Managing a Collective Investment Fund (Category 3C)","source":"https://dfsaen.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-module-pib-ver5307-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Managing a Collective Investment Fund"},"legal_basis":[{"value":"DIFC Law No. 2 of 2010 (Collective Investment Law 2010)","source":"https://dfsaen.thomsonreuters.com/rulebook/collective-investment-law","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-difc-collective-investment-law-2010"],"activity_ids":["aif-management","ucits-management","portfolio-management"],"passporting":"none","fees":{"application":{"value":"USD 10,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Managing a Collective Investment Fund: 10,000"},"annual":{"value":"USD 10,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Managing a Collective Investment Fund ... Standard: 10,000"}},"timelines":{"statutory":{"value":"No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay","source":"https://dfsaen.thomsonreuters.com/rulebook/regulatory-law-1","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Regulatory Law 2004 Article 59 and DFSA Rulebook General Module (GEN) Section 11.8, prior written approval from the DFSA is required before any person becomes a Controller, or increases their holding across 30% or 50% thresholds. A Controller is defined as someone holding 10% or more of shares or voting rights, or exercising significant influence over management. Under GEN 11.8.6, the DFSA must determine an application for approval of a change of control within 90 days of receipt of a duly completed application.","source":"https://dfsaen.thomsonreuters.com/rulebook/general-module-gen-ver7207-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 11.8.4 within 90 days"}},"register_url":{"value":"https://dfsaen.thomsonreuters.com/rulebook/25-june-2026-dfsa-annual-report-2025-dfsa-records-third-consecutive-year-double-digit","source":"https://dfsaen.thomsonreuters.com/rulebook/25-june-2026-dfsa-annual-report-2025-dfsa-records-third-consecutive-year-double-digit","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":121,"source":"https://dfsaen.thomsonreuters.com/rulebook/25-june-2026-dfsa-annual-report-2025-dfsa-records-third-consecutive-year-double-digit","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"fund management sector witnessed remarkable expansion, with 121 Authorised Firms managing 276 funds"},"answer":"The Financial Services Permission for Managing a Collective Investment Fund (Category 3C) is issued by Dubai Financial Services Authority (DFSA) under DIFC Law No. 2 of 2010 (Collective Investment Law 2010). The official register lists 121 current holders. The legal decision period is No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay. The application fee is USD 10,000.","derived_from":"dfsa-difc","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/difc/","jurisdiction_name":"Dubai International Financial Centre (DIFC)","region":"middle-east","regulator_name":"DFSA","regulator_url":"/licensing/regulators/dfsa-difc/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--BM","family":"fund-manager","jurisdiction":"BM","regulator_id":"bma-bermuda","official_name":{"value":"Fund Administrator Licence (Part III, Investment Funds Act 2006)","source":"https://www.bma.bm/fund-administration-licensing","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Investment Funds Act 2006","source":"https://cdn.bma.bm/documents/2023-12-05-15-25-13-Investment-Funds-Act-2006.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["bm-investment-funds-act-2006"],"activity_ids":["aif-management","ucits-management","portfolio-management"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Anyone intending to become a 10% (or majority) shareholder controller of a BMA-licensed undertaking, including a digital asset business, must first give the Authority written notice; the acquisition can proceed once the BMA confirms no objection, or once a statutory review period elapses without a written objection. Bermuda's regime also recognises a majority-controller threshold as a second trigger point.","source":"https://charltonsquantum.com/bermuda-digital-assets-regulation/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"must serve a written notice to the BMA"}},"answer":"The Fund Administrator Licence (Part III, Investment Funds Act 2006) is issued by Bermuda Monetary Authority (BMA) under Investment Funds Act 2006. It covers managing alternative investment funds, managing UCITS funds and portfolio management. It is valid in Bermuda only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.","derived_from":"bma-bermuda","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/bermuda/","jurisdiction_name":"Bermuda","region":"offshore","regulator_name":"BMA","regulator_url":"/licensing/regulators/bma-bermuda/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--CH--fund-management","family":"fund-manager","jurisdiction":"CH","regulator_id":"finma-switzerland","official_name":{"value":"Fund management company licence (Fondsleitung nach Art. 32 FINIG)","source":"https://www.finma.ch/en/authorisation/asset-management/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Fund management companies"},"legal_basis":[{"value":"Federal Act on Collective Investment Schemes (CISA, SR 951.31)","source":"https://www.fedlex.admin.ch/eli/cc/2006/822/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ch-collective-investment-schemes-act"],"activity_ids":["aif-management","portfolio-management"],"passporting":"none","fees":{"annual":{"value":"Annual supervisory levy allocated across fund management companies under Section 3 FINMA-GebV","source":"https://www.fedlex.admin.ch/eli/cc/2008/749/de","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Bereich der kollektiven Kapitalanlagen"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"A qualifying participation is defined as directly or indirectly holding at least 10% of the capital or voting rights, or otherwise exerting a significant influence over the company (BankA Art. 3 para. 2 let. c; FinIA Art. 11 para. 1). Notification to FINMA is mandatory prior to acquiring, disposing of, or reaching, exceeding, or falling below the statutory thresholds of 10%, 20%, 33%, or 50% (BankA Art. 3 para. 5; BankO Art. 8a; FinIA Art. 11 para. 4). For FinTech licence holders (Art. 1b BankA), FINMA's FinTech Licensing Guidelines explicitly mandate prior formal approval before completing any change in qualified participations. Furthermore, when foreign control is established or modified in a Swiss bank or securities firm, a supplementary licence (Zusatzbewilligung) is mandatory under BankA Art. 3bis. For SRO-affiliated financial intermediaries, Art. 6 para. 2 of SRO regulations (e.g. VQF) mandates prior written notice and SRO approval before transferring qualified holdings.","source":"https://www.finma.ch/en/authorisation/fintech/fintech-bewilligung/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Changes to qualified participations require prior approval"}},"register_url":{"value":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/flvervt.pdf","source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/flvervt.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":54,"source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/flvervt.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Fondsleitungen"},"answer":"The Fund management company licence (Fondsleitung nach Art. 32 FINIG) is issued by Swiss Financial Market Supervisory Authority (FINMA) under Federal Act on Collective Investment Schemes (CISA, SR 951.31). The official register lists 54 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"finma-switzerland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/switzerland-fund-management/","jurisdiction_name":"Switzerland","region":"europe-non-eu","regulator_name":"FINMA","regulator_url":"/licensing/regulators/finma-switzerland/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--CH--manager","family":"fund-manager","jurisdiction":"CH","regulator_id":"finma-switzerland","official_name":{"value":"Manager of collective assets licence (Verwalter von Kollektivvermögen nach Art. 24 FINIG)","source":"https://www.finma.ch/en/authorisation/asset-management/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Managers of collective assets"},"legal_basis":[{"value":"Federal Act on Collective Investment Schemes (CISA, SR 951.31)","source":"https://www.fedlex.admin.ch/eli/cc/2006/822/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ch-collective-investment-schemes-act"],"activity_ids":["aif-management","portfolio-management"],"passporting":"none","fees":{"annual":{"value":"Annual supervisory levy allocated across collective asset managers under Section 3 FINMA-GebV","source":"https://www.fedlex.admin.ch/eli/cc/2008/749/de","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Bereich der kollektiven Kapitalanlagen"}},"timelines":{"statutory":{"value":"No fixed calendar deadline under Swiss administrative law","source":"https://www.fedlex.admin.ch/eli/cc/2018/801/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Financial Institutions Act"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"A qualifying participation is defined as directly or indirectly holding at least 10% of the capital or voting rights, or otherwise exerting a significant influence over the company (BankA Art. 3 para. 2 let. c; FinIA Art. 11 para. 1). Notification to FINMA is mandatory prior to acquiring, disposing of, or reaching, exceeding, or falling below the statutory thresholds of 10%, 20%, 33%, or 50% (BankA Art. 3 para. 5; BankO Art. 8a; FinIA Art. 11 para. 4). For FinTech licence holders (Art. 1b BankA), FINMA's FinTech Licensing Guidelines explicitly mandate prior formal approval before completing any change in qualified participations. Furthermore, when foreign control is established or modified in a Swiss bank or securities firm, a supplementary licence (Zusatzbewilligung) is mandatory under BankA Art. 3bis. For SRO-affiliated financial intermediaries, Art. 6 para. 2 of SRO regulations (e.g. VQF) mandates prior written notice and SRO approval before transferring qualified holdings.","source":"https://www.finma.ch/en/authorisation/fintech/fintech-bewilligung/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Changes to qualified participations require prior approval"}},"register_url":{"value":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/flvervt.pdf","source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/flvervt.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":344,"source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/flvervt.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Verwalter von Kollektivvermögen"},"answer":"The Manager of collective assets licence (Verwalter von Kollektivvermögen nach Art. 24 FINIG) is issued by Swiss Financial Market Supervisory Authority (FINMA) under Federal Act on Collective Investment Schemes (CISA, SR 951.31). The official register lists 344 current holders. The legal decision period is No fixed calendar deadline under Swiss administrative law. Ownership changes need the regulator's approval before completion.","derived_from":"finma-switzerland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/switzerland-manager/","jurisdiction_name":"Switzerland","region":"europe-non-eu","regulator_name":"FINMA","regulator_url":"/licensing/regulators/finma-switzerland/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--CY--aifm","family":"fund-manager","jurisdiction":"CY","regulator_id":"cysec-cyprus","official_name":{"value":"Alternative Investment Fund Manager (AIFM) authorisation","source":"https://www.cysec.gov.cy/en-GB/entities/aifm/authorised/authorised-aifm/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Authorised AIFM"},"legal_basis":[{"value":"The Alternative Investment Fund Managers Law of 2013 (Law 56(I)/2013)","source":"https://www.cysec.gov.cy/en-GB/legislation/collective-investment/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"The Open-Ended Undertakings for Collective Investment (UCI) Law of 2012 (Law 78(I)/2012)","source":"https://www.cysec.gov.cy/en-GB/legislation/collective-investment/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["cy-aifm-law-2013-56i","cy-open-ended-uci-law-2012-78i","eu-aifmd-2011-61","eu-ucits-2009-65","eu-ecspr-2020-1503"],"activity_ids":["aif-management"],"passporting":"eu-eea","timelines":{"statutory":{"value":"3 months from submission of a complete application, extendable by an additional 3 months where deemed necessary","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within three months of the submission of a complete application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person proposing to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% in a CIF, AIFM, or CASP, or to achieve control making it a subsidiary, must submit prior written notification to CySEC under Sections 12 and 13 of Law 87(I)/2017 and MiCA Article 83. CySEC acknowledges receipt within two working days and has a statutory assessment period of 60 working days to oppose the acquisition based on reputation, financial soundness, AML risks, and fit-and-proper criteria. The assessment period may be interrupted once by up to 20 working days (or 30 working days for non-EU entities) to request additional information. If CySEC does not object in writing before expiry, the transaction is deemed approved. Closing without CySEC non-opposition suspends voting rights and risks statutory penalties.","source":"https://www.cylaw.org/nomoi/enop/non-ind/2017_1_87/full.html","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.cysec.gov.cy/en-GB/entities/aifm/authorised/authorised-aifm/","source":"https://www.cysec.gov.cy/en-GB/entities/aifm/authorised/authorised-aifm/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":45,"source":"https://www.cysec.gov.cy/en-GB/entities/aifm/authorised/authorised-aifm/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Authorised AIFM"},"answer":"The Alternative Investment Fund Manager (AIFM) authorisation is issued by Cyprus Securities and Exchange Commission (CySEC) under The Alternative Investment Fund Managers Law of 2013 (Law 56(I)/2013). It can be passported to the other EU/EEA states by notification. The official register lists 45 current holders. The legal decision period is 3 months from submission of a complete application, extendable by an additional 3 months where deemed necessary. Ownership changes need the regulator's approval before completion.","derived_from":"cysec-cyprus","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/cyprus-aifm/","jurisdiction_name":"Cyprus","region":"eu-eea","regulator_name":"CySEC","regulator_url":"/licensing/regulators/cysec-cyprus/","family_short":"FM","capital_eur":null,"months":3},{"id":"fund-manager--CY--sub-aifm","family":"fund-manager","jurisdiction":"CY","regulator_id":"cysec-cyprus","official_name":{"value":"Sub-threshold Alternative Investment Fund Manager registration","source":"https://www.cysec.gov.cy/en-GB/entities/aifm/registered/AUTHORISED-SUB-THRESHOLD-AIFMS/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Sub-threshold AIFMs"},"legal_basis":[{"value":"The Alternative Investment Fund Managers Law of 2013 (Law 56(I)/2013)","source":"https://www.cysec.gov.cy/en-GB/legislation/collective-investment/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"The Open-Ended Undertakings for Collective Investment (UCI) Law of 2012 (Law 78(I)/2012)","source":"https://www.cysec.gov.cy/en-GB/legislation/collective-investment/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["cy-aifm-law-2013-56i","cy-open-ended-uci-law-2012-78i","eu-aifmd-2011-61","eu-ucits-2009-65","eu-ecspr-2020-1503"],"activity_ids":["aif-management"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person proposing to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% in a CIF, AIFM, or CASP, or to achieve control making it a subsidiary, must submit prior written notification to CySEC under Sections 12 and 13 of Law 87(I)/2017 and MiCA Article 83. CySEC acknowledges receipt within two working days and has a statutory assessment period of 60 working days to oppose the acquisition based on reputation, financial soundness, AML risks, and fit-and-proper criteria. The assessment period may be interrupted once by up to 20 working days (or 30 working days for non-EU entities) to request additional information. If CySEC does not object in writing before expiry, the transaction is deemed approved. Closing without CySEC non-opposition suspends voting rights and risks statutory penalties.","source":"https://www.cylaw.org/nomoi/enop/non-ind/2017_1_87/full.html","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.cysec.gov.cy/en-GB/entities/aifm/registered/AUTHORISED-SUB-THRESHOLD-AIFMS/","source":"https://www.cysec.gov.cy/en-GB/entities/aifm/registered/AUTHORISED-SUB-THRESHOLD-AIFMS/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":65,"source":"https://www.cysec.gov.cy/en-GB/entities/aifm/registered/AUTHORISED-SUB-THRESHOLD-AIFMS/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Sub-threshold AIFMs"},"answer":"The Sub-threshold Alternative Investment Fund Manager registration is issued by Cyprus Securities and Exchange Commission (CySEC) under The Alternative Investment Fund Managers Law of 2013 (Law 56(I)/2013). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 65 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"cysec-cyprus","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/cyprus-sub-aifm/","jurisdiction_name":"Cyprus","region":"eu-eea","regulator_name":"CySEC","regulator_url":"/licensing/regulators/cysec-cyprus/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--CY--ucits","family":"fund-manager","jurisdiction":"CY","regulator_id":"cysec-cyprus","official_name":{"value":"UCITS Management Company authorisation","source":"https://www.cysec.gov.cy/en-GB/entities/ucits/cypriot-management-companies/%CE%91%CE%94%CE%95%CE%99%CE%94%CE%9F%CE%A4%CE%97%CE%9C%CE%95%CE%9D%CE%95%CE%A3-%CE%97%CE%9C%CE%95%CE%94%CE%91%CE%A0%CE%95%CE%A3-%CE%95%CE%A4%CE%91%CE%99%CE%A1%CE%95%CE%99%CE%95%CE%A3-%CE%94%CE%99%CE%91%CE%A7%CE%95%CE%99%CE%A1%CE%99%CE%A3%CE%97%CE%A3/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Local Management Companies"},"legal_basis":[{"value":"The Alternative Investment Fund Managers Law of 2013 (Law 56(I)/2013)","source":"https://www.cysec.gov.cy/en-GB/legislation/collective-investment/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"The Open-Ended Undertakings for Collective Investment (UCI) Law of 2012 (Law 78(I)/2012)","source":"https://www.cysec.gov.cy/en-GB/legislation/collective-investment/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["cy-aifm-law-2013-56i","cy-open-ended-uci-law-2012-78i","eu-aifmd-2011-61","eu-ucits-2009-65","eu-ecspr-2020-1503"],"activity_ids":["ucits-management"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person proposing to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% in a CIF, AIFM, or CASP, or to achieve control making it a subsidiary, must submit prior written notification to CySEC under Sections 12 and 13 of Law 87(I)/2017 and MiCA Article 83. CySEC acknowledges receipt within two working days and has a statutory assessment period of 60 working days to oppose the acquisition based on reputation, financial soundness, AML risks, and fit-and-proper criteria. The assessment period may be interrupted once by up to 20 working days (or 30 working days for non-EU entities) to request additional information. If CySEC does not object in writing before expiry, the transaction is deemed approved. Closing without CySEC non-opposition suspends voting rights and risks statutory penalties.","source":"https://www.cylaw.org/nomoi/enop/non-ind/2017_1_87/full.html","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.cysec.gov.cy/en-GB/entities/ucits/cypriot-management-companies/%CE%91%CE%94%CE%95%CE%99%CE%94%CE%9F%CE%A4%CE%97%CE%9C%CE%95%CE%9D%CE%95%CE%A3-%CE%97%CE%9C%CE%95%CE%94%CE%91%CE%A0%CE%95%CE%A3-%CE%95%CE%A4%CE%91%CE%99%CE%A1%CE%95%CE%99%CE%95%CE%A3-%CE%94%CE%99%CE%91%CE%A7%CE%95%CE%99%CE%A1%CE%99%CE%A3%CE%97%CE%A3/","source":"https://www.cysec.gov.cy/en-GB/entities/ucits/cypriot-management-companies/%CE%91%CE%94%CE%95%CE%99%CE%94%CE%9F%CE%A4%CE%97%CE%9C%CE%95%CE%9D%CE%95%CE%A3-%CE%97%CE%9C%CE%95%CE%94%CE%91%CE%A0%CE%95%CE%A3-%CE%95%CE%A4%CE%91%CE%99%CE%A1%CE%95%CE%99%CE%95%CE%A3-%CE%94%CE%99%CE%91%CE%A7%CE%95%CE%99%CE%A1%CE%99%CE%A3%CE%97%CE%A3/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":2,"source":"https://www.cysec.gov.cy/en-GB/entities/ucits/cypriot-management-companies/%CE%91%CE%94%CE%95%CE%99%CE%94%CE%9F%CE%A4%CE%97%CE%9C%CE%95%CE%9D%CE%95%CE%A3-%CE%97%CE%9C%CE%95%CE%94%CE%91%CE%A0%CE%95%CE%A3-%CE%95%CE%A4%CE%91%CE%99%CE%A1%CE%95%CE%99%CE%95%CE%A3-%CE%94%CE%99%CE%91%CE%A7%CE%95%CE%99%CE%A1%CE%99%CE%A3%CE%97%CE%A3/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Local Management Companies"},"answer":"The UCITS Management Company authorisation is issued by Cyprus Securities and Exchange Commission (CySEC) under The Alternative Investment Fund Managers Law of 2013 (Law 56(I)/2013). It can be passported to the other EU/EEA states by notification. The official register lists 2 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"cysec-cyprus","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/cyprus-ucits/","jurisdiction_name":"Cyprus","region":"eu-eea","regulator_name":"CySEC","regulator_url":"/licensing/regulators/cysec-cyprus/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--CZ--registered-15","family":"fund-manager","jurisdiction":"CZ","regulator_id":"cnb-czechia","official_name":{"value":"Sub-threshold Alternative Investment Fund Manager registration pursuant to Section 15 of AMCIF (zápis osoby provádějící správu majetku srovnatelnou s obhospodařováním podle § 15 ZISIF)","source":"https://www.zakonyprolidi.cz/cs/2013-240","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"správu majetku srovnatelnou s obhospodařováním"},"legal_basis":[{"value":"Act No. 240/2013 Coll. on Management Companies and Investment Funds","source":"https://www.zakonyprolidi.cz/cs/2013-240","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["cz-management-companies-and-investment-funds-act-2013","eu-ecspr-2020-1503","eu-aifmd-2011-61"],"activity_ids":["aif-management"],"passporting":"none","fees":{"application":{"value":"CZK 10,000","source":"https://www.zakonyprolidi.cz/cs/2004-634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"zápis osoby podle § 15 odst. 1 zákona o investičních společnostech"}},"timelines":{"statutory":{"value":"30 days (general administrative code deadline)","source":"https://www.zakonyprolidi.cz/cs/2013-240","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"zapíše osobu do seznamu"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance.","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Osoba nebo osoby jednající ve shodě oznámí předem České národní bance svůj záměr"}},"register_url":{"value":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":458,"source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Entities conducting asset administration comparable to asset management pursuant to Article 15"},"answer":"The Sub-threshold Alternative Investment Fund Manager registration pursuant to Section 15 of AMCIF (zápis osoby provádějící správu majetku srovnatelnou s obhospodařováním podle § 15 ZISIF) is issued by Czech National Bank (CNB) under Act No. 240/2013 Coll. on Management Companies and Investment Funds. It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 458 current holders. The application fee is CZK 10,000.","derived_from":"cnb-czechia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/czech-republic-registered-15/","jurisdiction_name":"Czech Republic","region":"eu-eea","regulator_name":"CNB","regulator_url":"/licensing/regulators/cnb-czechia/","family_short":"FM","capital_eur":null,"months":1},{"id":"fund-manager--CZ","family":"fund-manager","jurisdiction":"CZ","regulator_id":"cnb-czechia","official_name":{"value":"Investment Company / Fund Manager licence (povolení k činnosti investiční společnosti)","source":"https://www.cnb.cz/en/supervision-financial-market/conduct-of-supervision/licensing-and-approval-proceedings/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Management Companies and Investment Funds"},"legal_basis":[{"value":"Act No. 240/2013 Coll. on Management Companies and Investment Funds","source":"https://www.zakonyprolidi.cz/cs/2013-240","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["cz-management-companies-and-investment-funds-act-2013","eu-ecspr-2020-1503","eu-aifmd-2011-61"],"activity_ids":["aif-management","ucits-management","portfolio-management"],"passporting":"eu-eea","fees":{"application":{"value":"CZK 50,000 to CZK 100,000 depending on scope of management licence","source":"https://www.zakonyprolidi.cz/cs/2004-634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"investiční společnosti podle § 479 zákona o investičních společnostech"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application","source":"https://www.zakonyprolidi.cz/cs/2013-240","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"do 6 měsíců ode dne zahájení řízení"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance.","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Osoba nebo osoby jednající ve shodě oznámí předem České národní bance svůj záměr"}},"register_url":{"value":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":51,"source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Management companies 44 44 51"},"answer":"The Investment Company / Fund Manager licence (povolení k činnosti investiční společnosti) is issued by Czech National Bank (CNB) under Act No. 240/2013 Coll. on Management Companies and Investment Funds. It can be passported to the other EU/EEA states by notification. The official register lists 51 current holders. The legal decision period is 6 months from receipt of a complete application. Ownership changes need the regulator's approval before completion.","derived_from":"cnb-czechia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/czech-republic/","jurisdiction_name":"Czech Republic","region":"eu-eea","regulator_name":"CNB","regulator_url":"/licensing/regulators/cnb-czechia/","family_short":"FM","capital_eur":null,"months":6},{"id":"fund-manager--DE","family":"fund-manager","jurisdiction":"DE","regulator_id":"bafin-germany","official_name":{"value":"Investment management company licence (Erlaubnis als Kapitalverwaltungsgesellschaft nach § 20 KAGB)","source":"https://www.gesetze-im-internet.de/kagb/__20.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Erlaubnis zum Geschäftsbetrieb (1) Die Erlaubnis zum Geschäftsbetrieb als KVG"},"legal_basis":[{"value":"German Capital Investment Code (Kapitalanlagegesetzbuch - KAGB)","source":"https://www.gesetze-im-internet.de/kagb/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["de-capital-investment-code"],"activity_ids":["aif-management","ucits-management","portfolio-management"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining control of a credit institution, payment institution, or investment firm, requires prior written notification to BaFin and the Deutsche Bundesbank. BaFin conducts an assessment of acquirer reliability, professional competence, financial soundness, and money laundering risks within 60 working days from receipt of a complete filing, interruptible once by up to 20 working days (or 30 working days if non-EEA) to request additional information, under Section 2c KWG, applied mutatis mutandis to payment and e-money institutions via Section 14 ZAG and to investment firms via Section 24 WpIG.","source":"https://www.gesetze-im-internet.de/kredwg/__2c.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"innerhalb von 60 Arbeitstagen ab dem Datum des Schreibens ... zu beurteilen"}},"register_url":{"value":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=60&sucheButtonInstitut=Suche","source":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=60&sucheButtonInstitut=Suche","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":714,"source":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=60&sucheButtonInstitut=Suche","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"714 Elemente gefunden"},"answer":"The Investment management company licence (Erlaubnis als Kapitalverwaltungsgesellschaft nach § 20 KAGB) is issued by Federal Financial Supervisory Authority (BaFin) under German Capital Investment Code (Kapitalanlagegesetzbuch - KAGB). It can be passported to the other EU/EEA states by notification. The official register lists 714 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"bafin-germany","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/germany/","jurisdiction_name":"Germany","region":"eu-eea","regulator_name":"BaFin","regulator_url":"/licensing/regulators/bafin-germany/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--EE--small","family":"fund-manager","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Small fund manager registration without activity licence","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2188]=2188","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Small fund managers without activity licence"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["aif-management"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/supervised-entities?closed=1&st[2188]=2188","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2188]=2188","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":67,"source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2188]=2188","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Small fund managers without activity licence"},"answer":"The Small fund manager registration without activity licence is issued by Finantsinspektsioon (FI) under Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 67 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/estonia-small/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--EE","family":"fund-manager","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Operating licence as a fund management company","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2185]=2185","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licenced fund management companies"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["aif-management","ucits-management","portfolio-management"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 600 (foreign fund public offering registration fee)","source":"https://www.fi.ee/en/investment/applying-operating-licence/regulatory-fees-and-charges","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"processing fee for the registration of the public offering ... is 600 euros"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/supervised-entities?closed=1&st[2185]=2185","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2185]=2185","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":12,"source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2185]=2185","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licenced fund management companies"},"answer":"The Operating licence as a fund management company is issued by Finantsinspektsioon (FI) under Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR). It can be passported to the other EU/EEA states by notification. The official register lists 12 current holders. The application fee is EUR 600 (foreign fund public offering registration fee). Ownership changes need the regulator's approval before completion.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/estonia/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--ES--sgiic","family":"fund-manager","jurisdiction":"ES","regulator_id":"cnmv-spain","official_name":{"value":"Sociedad Gestora de Instituciones de Inversión Colectiva (SGIIC) licence","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2003-20393","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"sociedades gestoras de instituciones de inversión colectiva"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/65/EC on undertakings for collective investment in transferable securities (UCITS)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503","eu-ucits-2009-65","eu-aifmd-2011-61"],"activity_ids":["aif-management","ucits-management","portfolio-management"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 10,000 (Tarifa 4.1.1; plus EUR 300 registration fee under Tarifa 4.3)","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2014-9895","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Tarifa 4.1.1 10.000,00"},"annual":{"value":"0.025% of eligible own funds (minimum EUR 500) under Tarifa 6.1.3","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2023-7053","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Tarifa 6.1.3 Para las SGIIC: El 0,025 por ciento"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person intending to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or to gain control of an ESI, EAF, SGIIC, or CASP, must submit prior written notification to the CNMV under Articles 152-154 of Ley 6/2023 (LMVSI) and MiCA Art. 83. The CNMV assesses acquirer suitability, reputation, financial soundness, and AML/CFT risks within a statutory 60 working days assessment period (interruptible once by up to 20 working days for supplementary filings). Unauthorised acquisitions automatically forfeit voting rights and may trigger administrative intervention or statutory sanctions (Art. 156 LMVSI).","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2023-7053","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"adquirir, directa o indirectamente, una participación significativa en una empresa de servicios de inversión"}},"register_url":{"value":"https://www.cnmv.es/portal/Consultas/ListadoEntidad.aspx?id=2&tipoent=0","source":"https://www.cnmv.es/portal/Consultas/ListadoEntidad.aspx?id=2&tipoent=0","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":122,"source":"https://www.cnmv.es/portal/Consultas/ListadoEntidad.aspx?id=2&tipoent=0","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"List of management companies"},"answer":"The Sociedad Gestora de Instituciones de Inversión Colectiva (SGIIC) licence is issued by National Securities Market Commission (CNMV) under Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR). It can be passported to the other EU/EEA states by notification. The official register lists 122 current holders. The application fee is EUR 10,000 (Tarifa 4.1.1; plus EUR 300 registration fee under Tarifa 4.3). Ownership changes need the regulator's approval before completion.","derived_from":"cnmv-spain","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/spain-sgiic/","jurisdiction_name":"Spain","region":"eu-eea","regulator_name":"CNMV","regulator_url":"/licensing/regulators/cnmv-spain/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--FR--sgp","family":"fund-manager","jurisdiction":"FR","regulator_id":"amf-france","official_name":{"value":"Société de gestion de portefeuille (SGP) / Portfolio management company authorisation","source":"https://geco.amf-france.org/back-office/thirdParties","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"1 2 3 INVESTMENT MANAGERS GP01021"},"legal_basis":[{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/65/EC on undertakings for collective investment in transferable securities (UCITS)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-aifmd-2011-61","eu-ucits-2009-65","eu-ecspr-2020-1503","eu-tfr-2023-1113"],"activity_ids":["aif-management","ucits-management","portfolio-management"],"passporting":"eu-eea","timelines":{"statutory":{"value":"3 months from receipt of a complete application, extendable by up to 3 additional months (Article R. 532-15 CMF / Instruction DOC-2008-03)","source":"https://www.amf-france.org/sites/institutionnel/files/private/2026-07/DOC-2008-03_FR%2819%29_BMR.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"l'Autorité des marchés financiers notifie sa décision dans un délai de trois mois"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding needs the AMF's prior approval. For portfolio management companies (SGP) the thresholds are 10%, 20%, 33.33% and 50% of capital or voting rights (Code monétaire et financier, Article L. 532-9-1). For crypto-asset service providers MiCA Articles 83 and 84 apply: the thresholds are 20%, 30% and 50%, and the AMF assesses the acquirer within 60 working days of a complete notification.","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The Société de gestion de portefeuille (SGP) / Portfolio management company authorisation is issued by Financial Markets Authority (AMF) under Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD). It can be passported to the other EU/EEA states by notification. The legal decision period is 3 months from receipt of a complete application, extendable by up to 3 additional months (Article R. 532-15 CMF / Instruction DOC-2008-03). Ownership changes need the regulator's approval before completion.","derived_from":"amf-france","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/france-sgp/","jurisdiction_name":"France","region":"eu-eea","regulator_name":"AMF","regulator_url":"/licensing/regulators/amf-france/","family_short":"FM","capital_eur":null,"months":3},{"id":"fund-manager--GB--aifm","family":"fund-manager","jurisdiction":"GB","regulator_id":"fca-uk","official_name":{"value":"Alternative Investment Fund Manager (AIFM) Authorisation / Registration","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"authorised and registered Alternative Investment Fund Managers"},"legal_basis":[{"value":"Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (SI 2017/692)","source":"https://www.legislation.gov.uk/uksi/2017/692/contents","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["gb-money-laundering-regulations-2017"],"activity_ids":["aif-management"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested.","source":"https://www.fca.org.uk/firms/change-control/control-thresholds-bands","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Thresholds for control of Directive firms are defined in the following bands: 10% or more"}},"answer":"The Alternative Investment Fund Manager (AIFM) Authorisation / Registration is issued by Financial Conduct Authority (FCA) under Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (SI 2017/692). Ownership changes need the regulator's approval before completion.","derived_from":"fca-uk","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/united-kingdom-aifm/","jurisdiction_name":"United Kingdom","region":"europe-non-eu","regulator_name":"FCA","regulator_url":"/licensing/regulators/fca-uk/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--IE--aifm","family":"fund-manager","jurisdiction":"IE","regulator_id":"central-bank-of-ireland","official_name":{"value":"Alternative Investment Fund Manager (AIFM) Authorisation/Registration","source":"https://www.centralbank.ie/regulation/how-we-regulate/authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Alternative Investment Fund Managers (AIFMs)"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["aif-management"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.","source":"https://www.centralbank.ie/regulation/industry-market-sectors/payment-institutions/notification-process-for-proposed-acquisitions-of-qualifying-holdings","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"complete its assessment of the Notification within 60 working days"}},"answer":"The Alternative Investment Fund Manager (AIFM) Authorisation/Registration is issued by Central Bank of Ireland (CBI) under Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR). It is a national licence: it does not give a passport to other EU/EEA states. Ownership changes need the regulator's approval before completion.","derived_from":"central-bank-of-ireland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/ireland-aifm/","jurisdiction_name":"Ireland","region":"eu-eea","regulator_name":"CBI","regulator_url":"/licensing/regulators/central-bank-of-ireland/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--IE--ucits","family":"fund-manager","jurisdiction":"IE","regulator_id":"central-bank-of-ireland","official_name":{"value":"UCITS Management Company Authorisation","source":"https://www.centralbank.ie/regulation/how-we-regulate/authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"UCITS Management Companies"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["ucits-management"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.","source":"https://www.centralbank.ie/regulation/industry-market-sectors/payment-institutions/notification-process-for-proposed-acquisitions-of-qualifying-holdings","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"complete its assessment of the Notification within 60 working days"}},"answer":"The UCITS Management Company Authorisation is issued by Central Bank of Ireland (CBI) under Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR). It can be passported to the other EU/EEA states by notification. Ownership changes need the regulator's approval before completion.","derived_from":"central-bank-of-ireland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/ireland-ucits/","jurisdiction_name":"Ireland","region":"eu-eea","regulator_name":"CBI","regulator_url":"/licensing/regulators/central-bank-of-ireland/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--KY--mutual","family":"fund-manager","jurisdiction":"KY","regulator_id":"cima-cayman","official_name":{"value":"Regulated Mutual Fund (registered, master, or administered fund under the Mutual Funds Act)","source":"https://www.cima.ky/investment-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Mutual Funds Act (2025 Revision)","source":"https://www.cima.ky/acts-and-regulations","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Private Funds Act (2025 Revision)","source":"https://www.cima.ky/acts-and-regulations","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ky-mutual-funds-act","ky-private-funds-act"],"activity_ids":["aif-management"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under s.28(1) of the VASP Act, CIMA's prior approval is required before any issue or voluntary transfer of shares/interests reaching 10% or more of a VASP; the acquirer must file a Personal Questionnaire and fitness documentation. Acting without approval is an offence, and CIMA may also take action against the licence. Other CIMA-regulated entities (banks, trust companies, mutual fund administrators, securities licensees) face a stricter 0% threshold — any transfer needs prior approval.","source":"https://maples.com/knowledge/cima-change-of-control-process-a-guide-for-cayman-islands-regulated-entities","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Asset Service Providers require prior approval only when transfers exceed 10%"}},"register_url":{"value":"https://www.cima.ky/investment-statistics","source":"https://www.cima.ky/investment-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":13013,"source":"https://www.cima.ky/investment-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Total Mutual Funds 13,013"},"answer":"The Regulated Mutual Fund (registered, master, or administered fund under the Mutual Funds Act) is issued by Cayman Islands Monetary Authority (CIMA) under Mutual Funds Act (2025 Revision). The official register lists 13013 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"cima-cayman","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/cayman-islands-mutual/","jurisdiction_name":"Cayman Islands","region":"offshore","regulator_name":"CIMA","regulator_url":"/licensing/regulators/cima-cayman/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--KY--private","family":"fund-manager","jurisdiction":"KY","regulator_id":"cima-cayman","official_name":{"value":"Registered Private Fund under the Private Funds Act","source":"https://www.cima.ky/investment-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Mutual Funds Act (2025 Revision)","source":"https://www.cima.ky/acts-and-regulations","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Private Funds Act (2025 Revision)","source":"https://www.cima.ky/acts-and-regulations","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ky-mutual-funds-act","ky-private-funds-act"],"activity_ids":["aif-management"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under s.28(1) of the VASP Act, CIMA's prior approval is required before any issue or voluntary transfer of shares/interests reaching 10% or more of a VASP; the acquirer must file a Personal Questionnaire and fitness documentation. Acting without approval is an offence, and CIMA may also take action against the licence. Other CIMA-regulated entities (banks, trust companies, mutual fund administrators, securities licensees) face a stricter 0% threshold — any transfer needs prior approval.","source":"https://maples.com/knowledge/cima-change-of-control-process-a-guide-for-cayman-islands-regulated-entities","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Asset Service Providers require prior approval only when transfers exceed 10%"}},"register_url":{"value":"https://www.cima.ky/investment-statistics","source":"https://www.cima.ky/investment-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":18132,"source":"https://www.cima.ky/investment-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Private Funds 18,132"},"answer":"The Registered Private Fund under the Private Funds Act is issued by Cayman Islands Monetary Authority (CIMA) under Mutual Funds Act (2025 Revision). The official register lists 18132 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"cima-cayman","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/cayman-islands-private/","jurisdiction_name":"Cayman Islands","region":"offshore","regulator_name":"CIMA","regulator_url":"/licensing/regulators/cima-cayman/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--LU--aifm","family":"fund-manager","jurisdiction":"LU","regulator_id":"cssf-luxembourg","official_name":{"value":"Alternative investment fund manager (AIFM) authorisation","source":"https://www.cssf.lu/en/Document/law-of-12-july-2013-2/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"legal_basis":[{"value":"Law of 17 December 2010 relating to undertakings for collective investment","source":"https://www.cssf.lu/en/Document/law-of-17-december-2010/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"Law of 12 July 2013 on alternative investment fund managers","source":"https://www.cssf.lu/en/Document/law-of-12-july-2013-2/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["lu-law-on-ucis-2010","lu-law-on-aifms-2013","eu-aifmd-2011-61","eu-ucits-2009-65","eu-ecspr-2020-1503"],"activity_ids":["aif-management"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 18,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"AIFM set up under Chapter 2 ... including a basic strategy EUR 18,000"},"annual":{"value":"EUR 42,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"AIFM set up under Chapter 2 ... including a basic strategy EUR 42,000"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application, extendable by 3 months","source":"https://www.cssf.lu/en/Document/law-of-12-july-2013-2/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or causing an entity to become a subsidiary, requires prior written notification to the CSSF. The CSSF conducts a prudential assessment of acquirer suitability, reputation, financial soundness, and AML risk within 60 working days (interruptible once by up to 20 working days, or 30 working days for non-EU acquirers) under Articles 18 and 18-1 of the Law of 5 April 1993, Article 12 of the Law of 10 November 2009, Article 83 of Regulation (EU) 2023/1114 (MiCA), and Circular CSSF 17/669 adopting the Joint ESA Guidelines.","source":"https://www.cssf.lu/en/Document/circular-cssf-17-669/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Adoption of the Joint Guidelines of ESMA, EBA and EIOPA on the prudential assessment"}},"register_url":{"value":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=AIFM_AUT","source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=AIFM_AUT","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":256,"source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=AIFM_AUT","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"totalElements: 256"},"answer":"The Alternative investment fund manager (AIFM) authorisation is issued by Commission de Surveillance du Secteur Financier (CSSF) under Law of 17 December 2010 relating to undertakings for collective investment. It can be passported to the other EU/EEA states by notification. The official register lists 256 current holders. The legal decision period is 3 months from receipt of a complete application, extendable by 3 months. The application fee is EUR 18,000.","derived_from":"cssf-luxembourg","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/luxembourg-aifm/","jurisdiction_name":"Luxembourg","region":"eu-eea","regulator_name":"CSSF","regulator_url":"/licensing/regulators/cssf-luxembourg/","family_short":"FM","capital_eur":null,"months":3},{"id":"fund-manager--LU--ucits","family":"fund-manager","jurisdiction":"LU","regulator_id":"cssf-luxembourg","official_name":{"value":"Management company authorised under Chapter 15 of the Law of 17 December 2010","source":"https://www.cssf.lu/en/Document/law-of-17-december-2010/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Management companies whose authorisation covers ... Article 101"},"legal_basis":[{"value":"Law of 17 December 2010 relating to undertakings for collective investment","source":"https://www.cssf.lu/en/Document/law-of-17-december-2010/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Law of 12 July 2013 on alternative investment fund managers","source":"https://www.cssf.lu/en/Document/law-of-12-july-2013-2/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lu-law-on-ucis-2010","lu-law-on-aifms-2013","eu-aifmd-2011-61","eu-ucits-2009-65","eu-ecspr-2020-1503"],"activity_ids":["ucits-management"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 18,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Chapter 15 of the Law of 17 December 2010 EUR 18,000"},"annual":{"value":"EUR 42,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Chapter 15 of the Law of 17 December 2010 ... EUR 42,000"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application","source":"https://www.cssf.lu/en/Document/law-of-17-december-2010/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"L'agrément est accordé si la demande satisfait à l'ensemble des conditions"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or causing an entity to become a subsidiary, requires prior written notification to the CSSF. The CSSF conducts a prudential assessment of acquirer suitability, reputation, financial soundness, and AML risk within 60 working days (interruptible once by up to 20 working days, or 30 working days for non-EU acquirers) under Articles 18 and 18-1 of the Law of 5 April 1993, Article 12 of the Law of 10 November 2009, Article 83 of Regulation (EU) 2023/1114 (MiCA), and Circular CSSF 17/669 adopting the Joint ESA Guidelines.","source":"https://www.cssf.lu/en/Document/circular-cssf-17-669/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Adoption of the Joint Guidelines of ESMA, EBA and EIOPA on the prudential assessment"}},"register_url":{"value":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=C15","source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=C15","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":157,"source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=C15","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"totalElements: 157"},"answer":"The Management company authorised under Chapter 15 of the Law of 17 December 2010 is issued by Commission de Surveillance du Secteur Financier (CSSF) under Law of 17 December 2010 relating to undertakings for collective investment. It can be passported to the other EU/EEA states by notification. The official register lists 157 current holders. The legal decision period is 6 months from receipt of a complete application. The application fee is EUR 18,000.","derived_from":"cssf-luxembourg","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/luxembourg-ucits/","jurisdiction_name":"Luxembourg","region":"eu-eea","regulator_name":"CSSF","regulator_url":"/licensing/regulators/cssf-luxembourg/","family_short":"FM","capital_eur":null,"months":6},{"id":"fund-manager--NL--aifm","family":"fund-manager","jurisdiction":"NL","regulator_id":"afm-netherlands","official_name":{"value":"Alternative Investment Fund Manager (AIFM) licence under Wft Article 2:65 and Directive 2011/61/EU","source":"https://www.afm.nl/en/sector/registers/vergunningenregisters/beleggingsinstellingen","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"search the register or download the register as an Excel file"},"legal_basis":[{"value":"Wet bekostiging financieel toezicht 2019 (Wbft 2019 / Act on the Funding of Financial Supervision 2019)","source":"https://wetten.overheid.nl/BWBR0041548","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Besluit bekostiging financieel toezicht 2019 (Bbft 2019 / Decree on the Funding of Financial Supervision 2019)","source":"https://wetten.overheid.nl/BWBR0041647","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regeling bekostiging financieel toezicht 2026 (Regulation on the Funding of Financial Supervision 2026)","source":"https://zoek.officielebekendmakingen.nl/stcrt-2026-20792.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["nl-wbft-2019","nl-bbft-2019","nl-rbft-2026","eu-aifmd-2011-61","eu-ucits-2009-65","eu-ecspr-2020-1503","eu-tfr-2023-1113"],"activity_ids":["aif-management"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 200 per hour worked by the AFM, with a statutory maximum cap of EUR 100,000 for AIFM licences under Wft Art. 2:65 (Bbft 2019 Bijlage 2, code Wft.A1.05); UCITS manager licence max EUR 100,000; plus person assessments (EUR 700 integrity, EUR 2,900 suitability)","source":"https://wetten.overheid.nl/BWBR0041647","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"beheerder van een beleggingsinstelling 200 per uur 100.000"},"annual":{"value":"EUR 9,720 base supervisory levy under Regeling bekostiging financieel toezicht 2026 (Artikel II, category 6), plus variable contribution based on balance sheet total of managed funds","source":"https://zoek.officielebekendmakingen.nl/stcrt-2026-20792.html","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"26 weeks from receipt of a complete application under Wft Article 1:102, a deviation from the general 13-week decision period for AIFM manager licences","source":"https://maxius.nl/wet-op-het-financieel-toezicht/artikel1:102","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"In the Netherlands' Twin Peaks supervisory architecture, change of control and qualifying holdings (gekwalificeerde deelnemingen) are strictly regulated. Any natural or legal person proposing to acquire, increase, or divest a qualifying holding—defined as a direct or indirect holding of at least 10%, 20%, 33% (or 30%), or 50% of voting rights or capital, or the ability to exercise significant influence/control—in an investment firm or fund manager governed by the Wft must obtain a prior Declaration of No Objection (Verklaring van geen bezwaar - VVGB) from De Nederlandsche Bank (DNB) under Wft Article 3:95, with DNB consulting the AFM on conduct-of-business aspects. For crypto-asset service providers (CASPs) under Regulation (EU) 2023/1114 (MiCA Article 83), proposed acquisitions of qualifying holdings require prior assessment and approval by the competent supervisor (AFM charges EUR 2,400 per assessment under Bbft 2019 code EU.D1.07). The statutory assessment period is 60 working days from written acknowledgement of receipt of a complete filing, interruptible once by up to 20 or 30 working days if additional information is required from the proposed acquirer.","source":"https://wetten.overheid.nl/BWBR0020368","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"verklaring van geen bezwaar"}},"answer":"The Alternative Investment Fund Manager (AIFM) licence under Wft Article 2:65 and Directive 2011/61/EU is issued by Authority for the Financial Markets (AFM) under Wet bekostiging financieel toezicht 2019 (Wbft 2019 / Act on the Funding of Financial Supervision 2019). It can be passported to the other EU/EEA states by notification. Ownership changes need the regulator's approval before completion.","derived_from":"afm-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/netherlands-aifm/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"AFM","regulator_url":"/licensing/regulators/afm-netherlands/","family_short":"FM","capital_eur":null,"months":6},{"id":"fund-manager--NL--ucits","family":"fund-manager","jurisdiction":"NL","regulator_id":"afm-netherlands","official_name":{"value":"Undertakings for Collective Investment in Transferable Securities (UCITS / ICBE) registration under Wft and Directive 2009/65/EC","source":"https://www.afm.nl/en/sector/registers/vergunningenregisters/beleggingsinstellingen","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"search the register or download the register as an Excel file"},"legal_basis":[{"value":"Wet bekostiging financieel toezicht 2019 (Wbft 2019 / Act on the Funding of Financial Supervision 2019)","source":"https://wetten.overheid.nl/BWBR0041548","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Besluit bekostiging financieel toezicht 2019 (Bbft 2019 / Decree on the Funding of Financial Supervision 2019)","source":"https://wetten.overheid.nl/BWBR0041647","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regeling bekostiging financieel toezicht 2026 (Regulation on the Funding of Financial Supervision 2026)","source":"https://zoek.officielebekendmakingen.nl/stcrt-2026-20792.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["nl-wbft-2019","nl-bbft-2019","nl-rbft-2026","eu-aifmd-2011-61","eu-ucits-2009-65","eu-ecspr-2020-1503","eu-tfr-2023-1113"],"activity_ids":["ucits-management"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"In the Netherlands' Twin Peaks supervisory architecture, change of control and qualifying holdings (gekwalificeerde deelnemingen) are strictly regulated. Any natural or legal person proposing to acquire, increase, or divest a qualifying holding—defined as a direct or indirect holding of at least 10%, 20%, 33% (or 30%), or 50% of voting rights or capital, or the ability to exercise significant influence/control—in an investment firm or fund manager governed by the Wft must obtain a prior Declaration of No Objection (Verklaring van geen bezwaar - VVGB) from De Nederlandsche Bank (DNB) under Wft Article 3:95, with DNB consulting the AFM on conduct-of-business aspects. For crypto-asset service providers (CASPs) under Regulation (EU) 2023/1114 (MiCA Article 83), proposed acquisitions of qualifying holdings require prior assessment and approval by the competent supervisor (AFM charges EUR 2,400 per assessment under Bbft 2019 code EU.D1.07). The statutory assessment period is 60 working days from written acknowledgement of receipt of a complete filing, interruptible once by up to 20 or 30 working days if additional information is required from the proposed acquirer.","source":"https://wetten.overheid.nl/BWBR0020368","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"verklaring van geen bezwaar"}},"register_url":{"value":"https://www.afm.nl/en/sector/registers/vergunningenregisters/beleggingsinstellingen","source":"https://www.afm.nl/en/sector/registers/vergunningenregisters/beleggingsinstellingen","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":"1,254","source":"https://www.afm.nl/en/sector/registers/vergunningenregisters/beleggingsinstellingen","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Undertakings for Collective Investment in Transferable Securities (UCITS / ICBE) registration under Wft and Directive 2009/65/EC is issued by Authority for the Financial Markets (AFM) under Wet bekostiging financieel toezicht 2019 (Wbft 2019 / Act on the Funding of Financial Supervision 2019). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 1,254 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"afm-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/netherlands-ucits/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"AFM","regulator_url":"/licensing/regulators/afm-netherlands/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--PL--tfi","family":"fund-manager","jurisdiction":"PL","regulator_id":"knf-poland","official_name":{"value":"Investment Fund Company licence (towarzystwo funduszy inwestycyjnych - TFI)","source":"https://www.knf.gov.pl/podmioty/Podmioty_rynku_kapitalowego/Fundusze_Inwestycyjne/TFI_i_FI","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Towarzystwa Funduszy Inwestycyjnych"},"legal_basis":[{"value":"Act on Investment Funds and Management of Alternative Investment Funds of 27 May 2004","source":"https://dziennikustaw.gov.pl/DU/2023/681","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Act on Crowdfunding for Business Ventures and Aid to Borrowers of 7 July 2022","source":"https://dziennikustaw.gov.pl/DU/2023/414","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["pl-investment-funds-act-2004","pl-crowdfunding-act-2022","eu-aifmd-2011-61","eu-ecspr-2020-1503"],"activity_ids":["aif-management","ucits-management","portfolio-management"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding needs prior notification to the KNF, which can object within 60 working days (extendable by up to 20 working days while it waits for information). For national payment institutions the thresholds are 20%, 30% and 50% (Payment Services Act, Art. 72a); for banks they are 10%, 20%, one third and 50% (Banking Law, Art. 25). Shares acquired in breach carry no voting rights.","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.knf.gov.pl/podmioty/Podmioty_rynku_kapitalowego/Fundusze_Inwestycyjne/TFI_i_FI","source":"https://www.knf.gov.pl/podmioty/Podmioty_rynku_kapitalowego/Fundusze_Inwestycyjne/TFI_i_FI","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":64,"source":"https://www.knf.gov.pl/podmioty/Podmioty_rynku_kapitalowego/Fundusze_Inwestycyjne/TFI_i_FI","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Pozycje od 1 do 64 z 64"},"answer":"The Investment Fund Company licence (towarzystwo funduszy inwestycyjnych - TFI) is issued by Polish Financial Supervision Authority (KNF) under Act on Investment Funds and Management of Alternative Investment Funds of 27 May 2004. It can be passported to the other EU/EEA states by notification. The official register lists 64 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"knf-poland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/poland-tfi/","jurisdiction_name":"Poland","region":"eu-eea","regulator_name":"KNF","regulator_url":"/licensing/regulators/knf-poland/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--PL--zasi","family":"fund-manager","jurisdiction":"PL","regulator_id":"knf-poland","official_name":{"value":"Alternative Investment Company Manager registration / licence (zarządzający alternatywną spółką inwestycyjną - ZASI)","source":"https://zasi.knf.gov.pl/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Rejestr Zarządzających ASI"},"legal_basis":[{"value":"Act on Investment Funds and Management of Alternative Investment Funds of 27 May 2004","source":"https://dziennikustaw.gov.pl/DU/2023/681","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Act on Crowdfunding for Business Ventures and Aid to Borrowers of 7 July 2022","source":"https://dziennikustaw.gov.pl/DU/2023/414","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["pl-investment-funds-act-2004","pl-crowdfunding-act-2022","eu-aifmd-2011-61","eu-ecspr-2020-1503"],"activity_ids":["aif-management"],"passporting":"none","fees":{"annual":{"value":"EUR 750 equivalent in PLN","source":"https://www.knf.gov.pl/dla_rynku/wplaty_pokrycie_kosztow_nadzoru/rynek_kapitalowy/oplaty_ryczaltowe/zarzadzajacy_alternatywnymi_spolkami_nwestycyjnymi","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"w wysokości stanowiącej równowartość w złotych 750 euro"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding needs prior notification to the KNF, which can object within 60 working days (extendable by up to 20 working days while it waits for information). For national payment institutions the thresholds are 20%, 30% and 50% (Payment Services Act, Art. 72a); for banks they are 10%, 20%, one third and 50% (Banking Law, Art. 25). Shares acquired in breach carry no voting rights.","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The Alternative Investment Company Manager registration / licence (zarządzający alternatywną spółką inwestycyjną - ZASI) is issued by Polish Financial Supervision Authority (KNF) under Act on Investment Funds and Management of Alternative Investment Funds of 27 May 2004. It is a national licence: it does not give a passport to other EU/EEA states. Ownership changes need the regulator's approval before completion.","derived_from":"knf-poland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/poland-zasi/","jurisdiction_name":"Poland","region":"eu-eea","regulator_name":"KNF","regulator_url":"/licensing/regulators/knf-poland/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--SC","family":"fund-manager","jurisdiction":"SC","regulator_id":"fsa-seychelles","official_name":{"value":"Fund Administrator's Licence (and Restricted Fund Administrator's Licence) under the Mutual Fund and Hedge Fund Act 2008","source":"https://fsaseychelles.sc/legal-framework/legislations","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Mutual Fund and Hedge Fund Act, 2008","source":"https://fsaseychelles.sc/legal-framework/legislations","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sc-mutual-fund-and-hedge-fund-act-2008"],"activity_ids":["aif-management","ucits-management","portfolio-management"],"passporting":"none","change_of_control":{"approval_type":null,"summary":null},"answer":"The Fund Administrator's Licence (and Restricted Fund Administrator's Licence) under the Mutual Fund and Hedge Fund Act 2008 is issued by Financial Services Authority (Seychelles) (FSA) under Mutual Fund and Hedge Fund Act, 2008. Ownership changes need the regulator's approval before completion.","derived_from":"fsa-seychelles","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/seychelles/","jurisdiction_name":"Seychelles","region":"offshore","regulator_name":"FSA","regulator_url":"/licensing/regulators/fsa-seychelles/","family_short":"FM","capital_eur":null,"months":null},{"id":"fund-manager--VG","family":"fund-manager","jurisdiction":"VG","regulator_id":"bvi-fsc","official_name":{"value":"BVI mutual fund recognition (private/professional fund), registration (public fund) or approval (incubator/approved fund) - funds are recognised/registered/approved, not 'licensed'","source":"https://www.bvifsc.vg/sites/default/files/mutual_funds_regulations_2010.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Mutual Funds Regulations, 2010","source":"https://www.bvifsc.vg/sites/default/files/mutual_funds_regulations_2010.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["vg-mutual-funds-regulations-2010"],"activity_ids":["aif-management","ucits-management","portfolio-management"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"For SIBA investment business licensees, acquiring, disposing of, or issuing shares that create or change a 'significant interest' - defined as 10% or more of voting rights, distributions, or the power to appoint/remove directors - needs prior written FSC consent; licensees separately notify the FSC within 14 days of certain interest transfers. For BVI-recognised mutual funds (not licensees), there is no ownership threshold trigger; instead the fund gives 7 days' prior notice of a new functionary (manager, administrator, custodian) and reports director/auditor/authorised-representative or offering-document changes within 14 days, per the Mutual Funds Regulations 2010 and the Incubator and Approved Funds Regulations.","source":"https://www.ogier.com/news-and-insights/insights/ongoing-regulatory-obligations-for-investment-business-licensees/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"transferring significant interests (10% stake or ability to appoint/remove directors)"}},"answer":"The BVI mutual fund recognition (private/professional fund), registration (public fund) or approval (incubator/approved fund) - funds are recognised/registered/approved, not 'licensed' is issued by British Virgin Islands Financial Services Commission (BVI FSC) under Mutual Funds Regulations, 2010. Ownership changes need the regulator's approval before completion.","derived_from":"bvi-fsc","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/fund-manager/bvi/","jurisdiction_name":"British Virgin Islands","region":"offshore","regulator_name":"BVI FSC","regulator_url":"/licensing/regulators/bvi-fsc/","family_short":"FM","capital_eur":null,"months":null},{"id":"gaming--CW--b2b","family":"gaming","jurisdiction":"CW","regulator_id":"cga-curacao","official_name":{"value":"Supplier Licence (B2B platform/software licence) under the LOK","source":"https://portal.cga.cw/uploads/publications/aZPlS7pIPL5pJubskS3bNhtWjOXPNAawyRrFClRf.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude","quote":"Supplier License: B2B platform/software license"},"legal_basis":[{"value":"National Ordinance on Games of Chance (Landsverordening op de kansspelen), P.B. 2024 no. 157","source":"https://gamingcontrol.spin-cdn.com/media/online_gaming/20241230_landsverordening_op_de_kansspelen.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["cw-national-ordinance-games-of-chance"],"activity_ids":["gaming-supply-b2b"],"passporting":"none","fees":{"application":{"value":"EUR 4,592 one-time (plus EUR 150 per UBO/qualified interest holder, EUR 2,551 per listed UBO)","source":"https://portal.cga.cw/uploads/publications/aZPlS7pIPL5pJubskS3bNhtWjOXPNAawyRrFClRf.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"annual":{"value":"EUR 24,490 Supervisory Fee to the CGA (no separate National Treasury fee for B2B), payable in full by 15 January","source":"https://portal.cga.cw/uploads/publications/aZPlS7pIPL5pJubskS3bNhtWjOXPNAawyRrFClRf.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"Same two-phase process as the B2C licence: each phase decided within 8 weeks, extendable by up to 4 weeks per phase","source":"https://portal.cga.cw/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Prior written CGA permission ('Critical Change Consent', licence condition art. 4) is required before a licensee changes or adds a UBO, a qualifying-interest holder (≥10% of capital or voting rights), a director or other key person, a domain, or amends its articles of association. The administrative fee is EUR 128 per changed/added UBO or qualifying-interest holder; no assignment/transfer of the licence itself is possible — only a change of the licensed company's own ownership.","source":"https://portal.cga.cw/page/license-conditions-indefinite-term-online-gaming-license","source_type":"primary","as_of":"2026-09-24","checked_by":"claude","quote":"not permitted without the prior permission of the CGA"}},"register_url":{"value":"https://gamingcontrol.spin-cdn.com/media/license_registry/20260921_20260921_ogl_license_registry.pdf","source":"https://gamingcontrol.spin-cdn.com/media/license_registry/20260921_20260921_ogl_license_registry.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":"94 entries tagged 'B2B' in the CGA Online Gaming License Registry (of 665 total register entries; includes historic expired/revoked ones)","source":"https://gamingcontrol.spin-cdn.com/media/license_registry/20260921_20260921_ogl_license_registry.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Supplier Licence (B2B platform/software licence) under the LOK is issued by Curaçao Gaming Authority (CGA) under National Ordinance on Games of Chance (Landsverordening op de kansspelen), P.B. 2024 no. 157. The official register lists 94 entries tagged 'B2B' in the CGA Online Gaming License Registry (of 665 total register entries; includes historic expired/revoked ones) current holders. Ownership changes need the regulator's approval before completion.","derived_from":"cga-curacao","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/gaming/curacao-b2b/","jurisdiction_name":"Curaçao","region":"offshore","regulator_name":"CGA","regulator_url":"/licensing/regulators/cga-curacao/","family_short":"Gaming","capital_eur":null,"months":1.8},{"id":"gaming--CW--b2c","family":"gaming","jurisdiction":"CW","regulator_id":"cga-curacao","official_name":{"value":"Online Gaming Licence (B2C operating licence) under the LOK","source":"https://portal.cga.cw/uploads/publications/aZPlS7pIPL5pJubskS3bNhtWjOXPNAawyRrFClRf.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude","quote":"Gambling License: B2C Operating license"},"legal_basis":[{"value":"National Ordinance on Games of Chance (Landsverordening op de kansspelen), P.B. 2024 no. 157","source":"https://gamingcontrol.spin-cdn.com/media/online_gaming/20241230_landsverordening_op_de_kansspelen.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["cw-national-ordinance-games-of-chance"],"activity_ids":["online-gaming-b2c"],"passporting":"none","fees":{"application":{"value":"EUR 4,592 one-time (plus EUR 150 per UBO/qualified interest holder, EUR 2,551 per listed UBO)","source":"https://portal.cga.cw/uploads/publications/aZPlS7pIPL5pJubskS3bNhtWjOXPNAawyRrFClRf.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"annual":{"value":"EUR 128 administrative fee per changed or added UBO or qualified interest holder","source":"https://portal.cga.cw/uploads/publications/aZPlS7pIPL5pJubskS3bNhtWjOXPNAawyRrFClRf.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"Two-phase review (integrity/financial stability, then LOK regulatory requirements); each phase decided within 8 weeks, extendable by up to 4 weeks per phase — up to about 24 weeks in total","source":"https://portal.cga.cw/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Prior written CGA permission ('Critical Change Consent', licence condition art. 4) is required before a licensee changes or adds a UBO, a qualifying-interest holder (≥10% of capital or voting rights), a director or other key person, a domain, or amends its articles of association. The administrative fee is EUR 128 per changed/added UBO or qualifying-interest holder; no assignment/transfer of the licence itself is possible — only a change of the licensed company's own ownership.","source":"https://portal.cga.cw/page/license-conditions-indefinite-term-online-gaming-license","source_type":"primary","as_of":"2026-09-24","checked_by":"claude","quote":"not permitted without the prior permission of the CGA"}},"register_url":{"value":"https://gamingcontrol.spin-cdn.com/media/license_registry/20260921_20260921_ogl_license_registry.pdf","source":"https://gamingcontrol.spin-cdn.com/media/license_registry/20260921_20260921_ogl_license_registry.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":"571 entries tagged 'B2C' in the CGA Online Gaming License Registry (of 665 total register entries; includes historic expired/revoked ones)","source":"https://gamingcontrol.spin-cdn.com/media/license_registry/20260921_20260921_ogl_license_registry.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Online Gaming Licence (B2C operating licence) under the LOK is issued by Curaçao Gaming Authority (CGA) under National Ordinance on Games of Chance (Landsverordening op de kansspelen), P.B. 2024 no. 157. The official register lists 571 entries tagged 'B2C' in the CGA Online Gaming License Registry (of 665 total register entries; includes historic expired/revoked ones) current holders. Ownership changes need the regulator's approval before completion.","derived_from":"cga-curacao","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/gaming/curacao-b2c/","jurisdiction_name":"Curaçao","region":"offshore","regulator_name":"CGA","regulator_url":"/licensing/regulators/cga-curacao/","family_short":"Gaming","capital_eur":null,"months":1.8},{"id":"gaming--MT--b2b","family":"gaming","jurisdiction":"MT","regulator_id":"mga-malta","official_name":{"value":"Critical Gaming Supply Licence (B2B Game Providers and Back Office)","source":"https://www.mga.org.mt/licensee-hub/applications/b2b-licences/game-providers-and-back-office/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Providing or carrying out a critical gaming supply"},"legal_basis":[{"value":"Gaming Act (Cap. 583)","source":"https://legislation.mt/eli/cap/583/eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Gaming Authorisations Regulations (S.L. 583.05)","source":"https://legislation.mt/eli/sl/583.5/eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Gaming Licence Fees Regulations (S.L. 583.03)","source":"https://legislation.mt/eli/sl/583.3/eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mt-gaming-act","mt-gaming-authorisations-regulations","mt-gaming-licence-fees-regulations","mt-gaming-compliance-and-enforcement-regulations"],"activity_ids":["gaming-supply-b2b"],"passporting":"none","fees":{"application":{"value":"EUR 5,000","source":"https://www.mga.org.mt/licensee-hub/applications/b2b-licences/game-providers-and-back-office/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"One-time, non-refundable application fee €5,000"},"annual":{"value":"EUR 25,000 (annual revenue <= EUR 5,000,000), EUR 30,000 (EUR 5,000,000 to EUR 10,000,000), or EUR 35,000 (> EUR 10,000,000); EUR 10,000 for solely Type 4","source":"https://www.mga.org.mt/licensee-hub/applications/b2b-licences/game-providers-and-back-office/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Where annual revenue does not exceed €5,000,000 € 25,000"}},"change_of_control":{"approval_type":"notification","summary":{"value":"Under Directive 3 of 2018 art. 37(2)(a) and MGA Guidance Note 'Changes in Direct or Indirect Shareholding' (Sept 2023), any acquisition or increase in a qualifying shareholding (10% or more of equity, voting rights, or control) must be notified to the MGA within 3 working days of the transaction, followed by a complete 'Corporate - Change in Approved Company Structure' filing via LRMS within 30 days accompanied by a EUR 1,500 fee. All new qualifying shareholders and UBOs undergo fit-and-proper scrutiny and source-of-funds verification. The MGA holds statutory authority under art. 37(2)(a) to order the licensee to revert to the status quo ante if fitness and propriety are prejudiced. Transfers of licences between distinct legal entities are prohibited except within the same corporate group with prior written approval under S.L. 583.05 reg. 17.","source":"https://www.mga.org.mt/licensee-hub/compliance/licensees-information-reporting-requirements/3-day-notification-requirements/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Within three (3) working days of the occurrence of the following events"}},"answer":"The Critical Gaming Supply Licence (B2B Game Providers and Back Office) is issued by Malta Gaming Authority (MGA) under Gaming Act (Cap. 583). It is a national licence: it does not give a passport to other EU/EEA states. The application fee is EUR 5,000. Ownership changes need the regulator's approval before completion.","derived_from":"mga-malta","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/gaming/malta-b2b/","jurisdiction_name":"Malta","region":"eu-eea","regulator_name":"MGA","regulator_url":"/licensing/regulators/mga-malta/","family_short":"Gaming","capital_eur":null,"months":null},{"id":"gaming--MT--b2c","family":"gaming","jurisdiction":"MT","regulator_id":"mga-malta","official_name":{"value":"Gaming Service Licence (B2C Remote Gaming Services)","source":"https://www.mga.org.mt/licensee-hub/applications/b2c-licences/remote-gaming-services/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Offering, provision or operation of a gaming service"},"legal_basis":[{"value":"Gaming Act (Cap. 583)","source":"https://legislation.mt/eli/cap/583/eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Gaming Authorisations Regulations (S.L. 583.05)","source":"https://legislation.mt/eli/sl/583.5/eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Gaming Licence Fees Regulations (S.L. 583.03)","source":"https://legislation.mt/eli/sl/583.3/eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mt-gaming-act","mt-gaming-authorisations-regulations","mt-gaming-licence-fees-regulations","mt-gaming-compliance-and-enforcement-regulations"],"activity_ids":["online-gaming-b2c"],"passporting":"none","fees":{"application":{"value":"EUR 5,000","source":"https://www.mga.org.mt/licensee-hub/applications/b2c-licences/remote-gaming-services/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"One-time, non-refundable Application Fee €5,000"},"annual":{"value":"EUR 25,000 (EUR 10,000 if solely Type 4 controlled skill games) + tiered compliance contribution (and 5% gaming tax on Maltese player revenue)","source":"https://www.mga.org.mt/licensee-hub/applications/b2c-licences/remote-gaming-services/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Non-refundable Fixed Annual Licence Fee €25,000"}},"change_of_control":{"approval_type":"notification","summary":{"value":"Under Directive 3 of 2018 art. 37(2)(a) and MGA Guidance Note 'Changes in Direct or Indirect Shareholding' (Sept 2023), any acquisition or increase in a qualifying shareholding (10% or more of equity, voting rights, or control) must be notified to the MGA within 3 working days of the transaction, followed by a complete 'Corporate - Change in Approved Company Structure' filing via LRMS within 30 days accompanied by a EUR 1,500 fee. All new qualifying shareholders and UBOs undergo fit-and-proper scrutiny and source-of-funds verification. The MGA holds statutory authority under art. 37(2)(a) to order the licensee to revert to the status quo ante if fitness and propriety are prejudiced. Transfers of licences between distinct legal entities are prohibited except within the same corporate group with prior written approval under S.L. 583.05 reg. 17.","source":"https://www.mga.org.mt/licensee-hub/compliance/licensees-information-reporting-requirements/3-day-notification-requirements/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Within three (3) working days of the occurrence of the following events"}},"answer":"The Gaming Service Licence (B2C Remote Gaming Services) is issued by Malta Gaming Authority (MGA) under Gaming Act (Cap. 583). It is a national licence: it does not give a passport to other EU/EEA states. The application fee is EUR 5,000. Ownership changes need the regulator's approval before completion.","derived_from":"mga-malta","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/gaming/malta-b2c/","jurisdiction_name":"Malta","region":"eu-eea","regulator_name":"MGA","regulator_url":"/licensing/regulators/mga-malta/","family_short":"Gaming","capital_eur":null,"months":null},{"id":"gaming--MT--recognition-notice","family":"gaming","jurisdiction":"MT","regulator_id":"mga-malta","official_name":{"value":"Recognition Notice Certificate","source":"https://www.mga.org.mt/licensee-hub/applications/recognition-notices/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A Recognition Notice is a certificate issued by the Authority"},"legal_basis":[{"value":"Gaming Act (Cap. 583)","source":"https://legislation.mt/eli/cap/583/eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Gaming Authorisations Regulations (S.L. 583.05)","source":"https://legislation.mt/eli/sl/583.5/eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Gaming Licence Fees Regulations (S.L. 583.03)","source":"https://legislation.mt/eli/sl/583.3/eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mt-gaming-act","mt-gaming-authorisations-regulations","mt-gaming-licence-fees-regulations","mt-gaming-compliance-and-enforcement-regulations"],"activity_ids":["online-gaming-b2c"],"passporting":"none","fees":{"application":{"value":"EUR 5,000","source":"https://www.mga.org.mt/licensee-hub/applications/recognition-notices/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Proof of remittance of the application fee of five thousand Euro (€5,000)"},"annual":{"value":"EUR 5,000","source":"https://www.mga.org.mt/licensee-hub/applications/recognition-notices/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Annual Recognition Notice Fee is that of Eur 5,000"}},"change_of_control":{"approval_type":"notification","summary":{"value":"Under Directive 3 of 2018 art. 37(2)(a) and MGA Guidance Note 'Changes in Direct or Indirect Shareholding' (Sept 2023), any acquisition or increase in a qualifying shareholding (10% or more of equity, voting rights, or control) must be notified to the MGA within 3 working days of the transaction, followed by a complete 'Corporate - Change in Approved Company Structure' filing via LRMS within 30 days accompanied by a EUR 1,500 fee. All new qualifying shareholders and UBOs undergo fit-and-proper scrutiny and source-of-funds verification. The MGA holds statutory authority under art. 37(2)(a) to order the licensee to revert to the status quo ante if fitness and propriety are prejudiced. Transfers of licences between distinct legal entities are prohibited except within the same corporate group with prior written approval under S.L. 583.05 reg. 17.","source":"https://www.mga.org.mt/licensee-hub/compliance/licensees-information-reporting-requirements/3-day-notification-requirements/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Within three (3) working days of the occurrence of the following events"}},"answer":"The Recognition Notice Certificate is issued by Malta Gaming Authority (MGA) under Gaming Act (Cap. 583). It is a national licence: it does not give a passport to other EU/EEA states. The application fee is EUR 5,000. Ownership changes need the regulator's approval before completion.","derived_from":"mga-malta","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/gaming/malta-recognition-notice/","jurisdiction_name":"Malta","region":"eu-eea","regulator_name":"MGA","regulator_url":"/licensing/regulators/mga-malta/","family_short":"Gaming","capital_eur":null,"months":null},{"id":"investment-firm--AE-ADGM--cat2","family":"investment-firm","jurisdiction":"AE-ADGM","regulator_id":"fsra-adgm","official_name":{"value":"Financial Services Permission for Dealing in Investments as Principal (Category 2)","source":"https://en.adgm.thomsonreuters.com/entiresection/7541","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Financial Services and Markets Regulations 2015","source":"https://en.adgm.thomsonreuters.com/rulebook/financial-services-and-markets-regulations-2015-0","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"FSRA Prudential — Investment, Insurance Intermediation and Banking Rulebook (PRU)","source":"https://en.adgm.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-rulebook-pru-ver21160926","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-adgm-fsmr-2015","ae-adgm-pru-rules"],"activity_ids":["dealing-own-account","order-execution"],"passporting":"none","fees":{"application":{"value":"USD 40,000","source":"https://en.adgm.thomsonreuters.com/entiresection/7541","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Dealing in Investments as Principal ... USD 40,000"},"annual":{"value":"USD 50,000","source":"https://en.adgm.thomsonreuters.com/entiresection/7541","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Dealing in Investments as Principal ... USD 50,000"}},"timelines":{"statutory":{"value":"Within a reasonable time from submission of a complete application","source":"https://en.adgm.thomsonreuters.com/entiresection/12521","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for a Financial Services Permission within a reasonable time"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under FSMR section 105 and GEN 8.8, prior written approval from the FSRA is required before a person becomes a controller or increases control across 20%, 30%, or 50% thresholds. A controller is defined as holding 10% or more of voting rights or capital, or exercising significant influence. The statutory determination period is 90 days from receipt of a complete notice, accompanied by a USD 1,000 application fee.","source":"https://en.adgm.thomsonreuters.com/entiresection/7993","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 8.8.4 within 90 days"}},"register_url":{"value":"https://www.adgm.com/public-registers/fsra/firms","source":"https://www.adgm.com/public-registers/fsra/firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":7,"source":"https://www.adgm.com/public-registers/fsra/firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Active firms with Dealing in Investments as Principal activity"},"answer":"The Financial Services Permission for Dealing in Investments as Principal (Category 2) is issued by Financial Services Regulatory Authority (FSRA) under the Financial Services and Markets Regulations 2015. The official register lists 7 current holders. The legal decision period is Within a reasonable time from submission of a complete application. The application fee is USD 40,000. Ownership changes need the regulator's approval before completion.","derived_from":"fsra-adgm","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/adgm-cat2/","jurisdiction_name":"Abu Dhabi Global Market (ADGM)","region":"middle-east","regulator_name":"FSRA","regulator_url":"/licensing/regulators/fsra-adgm/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--AE-ADGM--cat3a","family":"investment-firm","jurisdiction":"AE-ADGM","regulator_id":"fsra-adgm","official_name":{"value":"Financial Services Permission for Dealing in Investments as Agent or Matched Principal (Category 3A)","source":"https://en.adgm.thomsonreuters.com/entiresection/7541","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Financial Services and Markets Regulations 2015","source":"https://en.adgm.thomsonreuters.com/rulebook/financial-services-and-markets-regulations-2015-0","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"FSRA Prudential — Investment, Insurance Intermediation and Banking Rulebook (PRU)","source":"https://en.adgm.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-rulebook-pru-ver21160926","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-adgm-fsmr-2015","ae-adgm-pru-rules"],"activity_ids":["order-execution","order-reception-transmission"],"passporting":"none","fees":{"annual":{"value":"USD 25,000","source":"https://en.adgm.thomsonreuters.com/entiresection/7541","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Dealing in Investments as Agent or Matched Principal ... USD 25,000"}},"timelines":{"statutory":{"value":"Within a reasonable time from submission of a complete application","source":"https://en.adgm.thomsonreuters.com/entiresection/12521","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for a Financial Services Permission within a reasonable time"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under FSMR section 105 and GEN 8.8, prior written approval from the FSRA is required before a person becomes a controller or increases control across 20%, 30%, or 50% thresholds. A controller is defined as holding 10% or more of voting rights or capital, or exercising significant influence. The statutory determination period is 90 days from receipt of a complete notice, accompanied by a USD 1,000 application fee.","source":"https://en.adgm.thomsonreuters.com/entiresection/7993","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 8.8.4 within 90 days"}},"register_url":{"value":"https://www.adgm.com/public-registers/fsra/firms","source":"https://www.adgm.com/public-registers/fsra/firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":32,"source":"https://www.adgm.com/public-registers/fsra/firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Active firms with Dealing in Investments as Agent activity"},"answer":"The Financial Services Permission for Dealing in Investments as Agent or Matched Principal (Category 3A) is issued by Financial Services Regulatory Authority (FSRA) under the Financial Services and Markets Regulations 2015. The official register lists 32 current holders. The legal decision period is Within a reasonable time from submission of a complete application. Ownership changes need the regulator's approval before completion.","derived_from":"fsra-adgm","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/adgm-cat3a/","jurisdiction_name":"Abu Dhabi Global Market (ADGM)","region":"middle-east","regulator_name":"FSRA","regulator_url":"/licensing/regulators/fsra-adgm/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--AE-ADGM--cat4","family":"investment-firm","jurisdiction":"AE-ADGM","regulator_id":"fsra-adgm","official_name":{"value":"Financial Services Permission for Advising on Investments or Arranging Deals in Investments (Category 4)","source":"https://en.adgm.thomsonreuters.com/entiresection/7556","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Financial Services and Markets Regulations 2015","source":"https://en.adgm.thomsonreuters.com/rulebook/financial-services-and-markets-regulations-2015-0","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"FSRA Prudential — Investment, Insurance Intermediation and Banking Rulebook (PRU)","source":"https://en.adgm.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-rulebook-pru-ver21160926","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-adgm-fsmr-2015","ae-adgm-pru-rules"],"activity_ids":["investment-advice","order-reception-transmission"],"passporting":"none","timelines":{"statutory":{"value":"Within a reasonable time from submission of a complete application","source":"https://en.adgm.thomsonreuters.com/entiresection/12521","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for a Financial Services Permission within a reasonable time"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under FSMR section 105 and GEN 8.8, prior written approval from the FSRA is required before a person becomes a controller or increases control across 20%, 30%, or 50% thresholds. A controller is defined as holding 10% or more of voting rights or capital, or exercising significant influence. The statutory determination period is 90 days from receipt of a complete notice, accompanied by a USD 1,000 application fee.","source":"https://en.adgm.thomsonreuters.com/entiresection/7993","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 8.8.4 within 90 days"}},"register_url":{"value":"https://www.adgm.com/public-registers/fsra/firms","source":"https://www.adgm.com/public-registers/fsra/firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":255,"source":"https://www.adgm.com/public-registers/fsra/firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Active firms with Advising on Investments or Credit activity"},"answer":"The Financial Services Permission for Advising on Investments or Arranging Deals in Investments (Category 4) is issued by Financial Services Regulatory Authority (FSRA) under the Financial Services and Markets Regulations 2015. The official register lists 255 current holders. The legal decision period is Within a reasonable time from submission of a complete application. Ownership changes need the regulator's approval before completion.","derived_from":"fsra-adgm","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/adgm-cat4/","jurisdiction_name":"Abu Dhabi Global Market (ADGM)","region":"middle-east","regulator_name":"FSRA","regulator_url":"/licensing/regulators/fsra-adgm/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--AE-DIFC--cat2","family":"investment-firm","jurisdiction":"AE-DIFC","regulator_id":"dfsa-difc","official_name":{"value":"Financial Services Permission for Dealing in Investments as Principal (Category 2)","source":"https://dfsaen.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-module-pib-ver5307-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Category 2 Firm is a Firm that: (a) Deals in Investments as Principal"},"legal_basis":[{"value":"Regulatory Law","source":"https://dfsaen.thomsonreuters.com/rulebook/regulatory-law-1","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"DIFC Law No. 2 of 2010 (Collective Investment Law 2010)","source":"https://dfsaen.thomsonreuters.com/rulebook/collective-investment-law","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"DIFC Law No. 5 of 2006 (Investment Trust Law 2006)","source":"https://dfsaen.thomsonreuters.com/rulebook/investment-trust-law","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"DFSA Rulebook — Prudential Investment, Insurance Intermediation and Banking Module (PIB)","source":"https://dfsaen.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-module-pib-ver5307-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-difc-regulatory-law-2004","ae-difc-collective-investment-law-2010","ae-difc-investment-trust-law-2006","ae-difc-pib-rules"],"activity_ids":["dealing-own-account","order-execution"],"passporting":"none","fees":{"application":{"value":"USD 40,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Dealing in Investments as Principal: 40,000"},"annual":{"value":"USD 50,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Category 2 ... Standard: 50,000"}},"timelines":{"statutory":{"value":"No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay","source":"https://dfsaen.thomsonreuters.com/rulebook/regulatory-law-1","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Regulatory Law 2004 Article 59 and DFSA Rulebook General Module (GEN) Section 11.8, prior written approval from the DFSA is required before any person becomes a Controller, or increases their holding across 30% or 50% thresholds. A Controller is defined as someone holding 10% or more of shares or voting rights, or exercising significant influence over management. Under GEN 11.8.6, the DFSA must determine an application for approval of a change of control within 90 days of receipt of a duly completed application.","source":"https://dfsaen.thomsonreuters.com/rulebook/general-module-gen-ver7207-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 11.8.4 within 90 days"}},"answer":"The Financial Services Permission for Dealing in Investments as Principal (Category 2) is issued by Dubai Financial Services Authority (DFSA) under the Regulatory Law. The legal decision period is No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay. The application fee is USD 40,000. Ownership changes need the regulator's approval before completion.","derived_from":"dfsa-difc","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/difc-cat2/","jurisdiction_name":"Dubai International Financial Centre (DIFC)","region":"middle-east","regulator_name":"DFSA","regulator_url":"/licensing/regulators/dfsa-difc/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--AE-DIFC--cat3a","family":"investment-firm","jurisdiction":"AE-DIFC","regulator_id":"dfsa-difc","official_name":{"value":"Financial Services Permission for Dealing in Investments as Agent or Operating an Alternative Trading System (Category 3A)","source":"https://dfsaen.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-module-pib-ver5307-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Category 3A Firm is a Firm that: (a) Deals in Investments as Agent"},"legal_basis":[{"value":"Regulatory Law","source":"https://dfsaen.thomsonreuters.com/rulebook/regulatory-law-1","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"DIFC Law No. 2 of 2010 (Collective Investment Law 2010)","source":"https://dfsaen.thomsonreuters.com/rulebook/collective-investment-law","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"DIFC Law No. 5 of 2006 (Investment Trust Law 2006)","source":"https://dfsaen.thomsonreuters.com/rulebook/investment-trust-law","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"DFSA Rulebook — Prudential Investment, Insurance Intermediation and Banking Module (PIB)","source":"https://dfsaen.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-module-pib-ver5307-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-difc-regulatory-law-2004","ae-difc-collective-investment-law-2010","ae-difc-investment-trust-law-2006","ae-difc-pib-rules"],"activity_ids":["order-execution","order-reception-transmission","operating-mtf"],"passporting":"none","fees":{"application":{"value":"USD 25,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Dealing in Investments as Agent: 25,000"},"annual":{"value":"USD 25,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Category 3A, 3B or 3C ... Standard: 25,000"}},"timelines":{"statutory":{"value":"No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay","source":"https://dfsaen.thomsonreuters.com/rulebook/regulatory-law-1","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Regulatory Law 2004 Article 59 and DFSA Rulebook General Module (GEN) Section 11.8, prior written approval from the DFSA is required before any person becomes a Controller, or increases their holding across 30% or 50% thresholds. A Controller is defined as someone holding 10% or more of shares or voting rights, or exercising significant influence over management. Under GEN 11.8.6, the DFSA must determine an application for approval of a change of control within 90 days of receipt of a duly completed application.","source":"https://dfsaen.thomsonreuters.com/rulebook/general-module-gen-ver7207-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 11.8.4 within 90 days"}},"answer":"The Financial Services Permission for Dealing in Investments as Agent or Operating an Alternative Trading System (Category 3A) is issued by Dubai Financial Services Authority (DFSA) under the Regulatory Law. The legal decision period is No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay. The application fee is USD 25,000.","derived_from":"dfsa-difc","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/difc-cat3a/","jurisdiction_name":"Dubai International Financial Centre (DIFC)","region":"middle-east","regulator_name":"DFSA","regulator_url":"/licensing/regulators/dfsa-difc/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--AE-DIFC--cat4","family":"investment-firm","jurisdiction":"AE-DIFC","regulator_id":"dfsa-difc","official_name":{"value":"Financial Services Permission for Advising on Financial Products or Arranging Deals in Investments (Category 4)","source":"https://dfsaen.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-module-pib-ver5307-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Category 4 Firm is a Firm that: (a) Advises on Financial Products"},"legal_basis":[{"value":"Regulatory Law","source":"https://dfsaen.thomsonreuters.com/rulebook/regulatory-law-1","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"DIFC Law No. 2 of 2010 (Collective Investment Law 2010)","source":"https://dfsaen.thomsonreuters.com/rulebook/collective-investment-law","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"DIFC Law No. 5 of 2006 (Investment Trust Law 2006)","source":"https://dfsaen.thomsonreuters.com/rulebook/investment-trust-law","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"DFSA Rulebook — Prudential Investment, Insurance Intermediation and Banking Module (PIB)","source":"https://dfsaen.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-module-pib-ver5307-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-difc-regulatory-law-2004","ae-difc-collective-investment-law-2010","ae-difc-investment-trust-law-2006","ae-difc-pib-rules"],"activity_ids":["investment-advice","order-reception-transmission"],"passporting":"none","fees":{"application":{"value":"USD 15,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Advising on Financial Products: 15,000"},"annual":{"value":"USD 15,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Category 4 ... Standard: 15,000"}},"timelines":{"statutory":{"value":"No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay","source":"https://dfsaen.thomsonreuters.com/rulebook/regulatory-law-1","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Regulatory Law 2004 Article 59 and DFSA Rulebook General Module (GEN) Section 11.8, prior written approval from the DFSA is required before any person becomes a Controller, or increases their holding across 30% or 50% thresholds. A Controller is defined as someone holding 10% or more of shares or voting rights, or exercising significant influence over management. Under GEN 11.8.6, the DFSA must determine an application for approval of a change of control within 90 days of receipt of a duly completed application.","source":"https://dfsaen.thomsonreuters.com/rulebook/general-module-gen-ver7207-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 11.8.4 within 90 days"}},"answer":"The Financial Services Permission for Advising on Financial Products or Arranging Deals in Investments (Category 4) is issued by Dubai Financial Services Authority (DFSA) under the Regulatory Law. The legal decision period is No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay. The application fee is USD 15,000.","derived_from":"dfsa-difc","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/difc-cat4/","jurisdiction_name":"Dubai International Financial Centre (DIFC)","region":"middle-east","regulator_name":"DFSA","regulator_url":"/licensing/regulators/dfsa-difc/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--AU","family":"investment-firm","jurisdiction":"AU","regulator_id":"asic-australia","official_name":{"value":"Australian financial services licence (AFSL)","source":"https://www.asic.gov.au/for-finance-professionals/afs-licensees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Corporations Act 2001","source":"https://www.legislation.gov.au/C2004A00818/latest/text","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"Australian Securities and Investments Commission Act 2001","source":"https://www.legislation.gov.au/C2004A00819/latest/text","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["au-corporations-act-2001","au-asic-act-2001"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice"],"passporting":"none","timelines":{"observed":{"value":"No fixed statutory decision deadline; ASIC's own service charter reports it decided 77% of new AFS licence applications, and 76% of AFS licence variation applications, within 150 days in FY2024-25 (1 July 2024 - 30 June 2025).","source":"https://www.asic.gov.au/about-asic/news-centre/news-items/asic-updates-on-key-licensing-and-professional-registration-activities/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"decided on 77% of new AFS licence applications ... within 150 days"}},"change_of_control":{"approval_type":"notification","summary":{"value":"Change of control is triggered when a person gains or ceases capacity to cast, or control the casting of, more than 50% of votes at a general meeting, or holds more than half the issued share capital, of an AFS licensee (Corporations Act s.910B). The licensee must notify ASIC of the change, via the Regulatory Portal, no later than 30 business days after the change occurs (s.912DA).","source":"https://www.asic.gov.au/for-finance-professionals/afs-licensees/changing-details-and-lodging-afs-forms/change-in-control-of-afs-licensee","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"no later than the end of 30 business days after the day"}},"answer":"The Australian financial services licence (AFSL) is issued by Australian Securities and Investments Commission (ASIC) under the Corporations Act 2001. It covers reception and transmission of orders, execution of orders on behalf of clients and dealing on own account. It is valid in Australia only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.","derived_from":"asic-australia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/australia/","jurisdiction_name":"Australia","region":"apac","regulator_name":"ASIC","regulator_url":"/licensing/regulators/asic-australia/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--BM","family":"investment-firm","jurisdiction":"BM","regulator_id":"bma-bermuda","official_name":{"value":"Investment Business Licence (standard licence, under the Investment Business Act 2003)","source":"https://www.bma.bm/investment-business-licensing","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Investment Business Act 2003","source":"https://www.bermudalaws.bm/Laws/Consolidated%20Law/2003/Investment%20Business%20Act%202003","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Investment Funds Act 2006","source":"https://cdn.bma.bm/documents/2023-12-05-15-25-13-Investment-Funds-Act-2006.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["bm-investment-business-act-2003","bm-investment-funds-act-2006"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Anyone intending to become a 10% (or majority) shareholder controller of a BMA-licensed undertaking, including a digital asset business, must first give the Authority written notice; the acquisition can proceed once the BMA confirms no objection, or once a statutory review period elapses without a written objection. Bermuda's regime also recognises a majority-controller threshold as a second trigger point.","source":"https://charltonsquantum.com/bermuda-digital-assets-regulation/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"must serve a written notice to the BMA"}},"answer":"The Investment Business Licence (standard licence, under the Investment Business Act 2003) is issued by Bermuda Monetary Authority (BMA) under Investment Business Act 2003. It covers reception and transmission of orders, execution of orders on behalf of clients and dealing on own account. It is valid in Bermuda only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.","derived_from":"bma-bermuda","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/bermuda/","jurisdiction_name":"Bermuda","region":"offshore","regulator_name":"BMA","regulator_url":"/licensing/regulators/bma-bermuda/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--CH--portfolio-manager","family":"investment-firm","jurisdiction":"CH","regulator_id":"finma-switzerland","official_name":{"value":"Portfolio manager licence (Vermögensverwalter nach Art. 17 FINIG)","source":"https://www.finma.ch/en/authorisation/portfolio-managers-and-trustees/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Portfolio managers"},"legal_basis":[{"value":"Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FinMIA, SR 958.1)","source":"https://www.fedlex.admin.ch/eli/cc/2015/853/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Federal Act on Collective Investment Schemes (CISA, SR 951.31)","source":"https://www.fedlex.admin.ch/eli/cc/2006/822/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ch-financial-market-infrastructure-act","ch-collective-investment-schemes-act"],"activity_ids":["portfolio-management"],"passporting":"none","timelines":{"statutory":{"value":"No fixed calendar deadline under Swiss administrative law (pre-assessed by a FINMA-recognised Supervisory Organisation prior to FINMA decree)","source":"https://www.finma.ch/en/authorisation/portfolio-managers-and-trustees/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Portfolio managers and trustees"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"A qualifying participation is defined as directly or indirectly holding at least 10% of the capital or voting rights, or otherwise exerting a significant influence over the company (BankA Art. 3 para. 2 let. c; FinIA Art. 11 para. 1). Notification to FINMA is mandatory prior to acquiring, disposing of, or reaching, exceeding, or falling below the statutory thresholds of 10%, 20%, 33%, or 50% (BankA Art. 3 para. 5; BankO Art. 8a; FinIA Art. 11 para. 4). For FinTech licence holders (Art. 1b BankA), FINMA's FinTech Licensing Guidelines explicitly mandate prior formal approval before completing any change in qualified participations. Furthermore, when foreign control is established or modified in a Swiss bank or securities firm, a supplementary licence (Zusatzbewilligung) is mandatory under BankA Art. 3bis. For SRO-affiliated financial intermediaries, Art. 6 para. 2 of SRO regulations (e.g. VQF) mandates prior written notice and SRO approval before transferring qualified holdings.","source":"https://www.finma.ch/en/authorisation/fintech/fintech-bewilligung/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Changes to qualified participations require prior approval"}},"register_url":{"value":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/vvtr.pdf","source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/vvtr.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":1359,"source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/vvtr.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Vermögensverwalter und Trustees"},"answer":"The Portfolio manager licence (Vermögensverwalter nach Art. 17 FINIG) is issued by Swiss Financial Market Supervisory Authority (FINMA) under Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FinMIA, SR 958.1). The official register lists 1359 current holders. The legal decision period is No fixed calendar deadline under Swiss administrative law (pre-assessed by a FINMA-recognised Supervisory Organisation prior to FINMA decree). Ownership changes need the regulator's approval before completion.","derived_from":"finma-switzerland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/switzerland-portfolio-manager/","jurisdiction_name":"Switzerland","region":"europe-non-eu","regulator_name":"FINMA","regulator_url":"/licensing/regulators/finma-switzerland/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--CH","family":"investment-firm","jurisdiction":"CH","regulator_id":"finma-switzerland","official_name":{"value":"Securities firm licence (Wertpapierhaus-Bewilligung nach Art. 41 FINIG)","source":"https://www.finma.ch/en/authorisation/banks-and-securities-firms/getting-licensed/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Securities firms"},"legal_basis":[{"value":"Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FinMIA, SR 958.1)","source":"https://www.fedlex.admin.ch/eli/cc/2015/853/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Federal Act on Collective Investment Schemes (CISA, SR 951.31)","source":"https://www.fedlex.admin.ch/eli/cc/2006/822/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ch-financial-market-infrastructure-act","ch-collective-investment-schemes-act"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice"],"passporting":"none","fees":{"annual":{"value":"Annual cost allocation levy based on balance sheet total and gross revenue under Art. 16 ff. FINMA-GebV","source":"https://www.fedlex.admin.ch/eli/cc/2008/749/de","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Bereich der übrigen Banken und Wertpapierhäuser"}},"timelines":{"statutory":{"value":"No fixed calendar deadline under Swiss administrative law","source":"https://www.fedlex.admin.ch/eli/cc/2018/801/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Financial Institutions Act"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"A qualifying participation is defined as directly or indirectly holding at least 10% of the capital or voting rights, or otherwise exerting a significant influence over the company (BankA Art. 3 para. 2 let. c; FinIA Art. 11 para. 1). Notification to FINMA is mandatory prior to acquiring, disposing of, or reaching, exceeding, or falling below the statutory thresholds of 10%, 20%, 33%, or 50% (BankA Art. 3 para. 5; BankO Art. 8a; FinIA Art. 11 para. 4). For FinTech licence holders (Art. 1b BankA), FINMA's FinTech Licensing Guidelines explicitly mandate prior formal approval before completing any change in qualified participations. Furthermore, when foreign control is established or modified in a Swiss bank or securities firm, a supplementary licence (Zusatzbewilligung) is mandatory under BankA Art. 3bis. For SRO-affiliated financial intermediaries, Art. 6 para. 2 of SRO regulations (e.g. VQF) mandates prior written notice and SRO approval before transferring qualified holdings.","source":"https://www.finma.ch/en/authorisation/fintech/fintech-bewilligung/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Changes to qualified participations require prior approval"}},"register_url":{"value":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/beh.pdf","source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/beh.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":34,"source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/beh.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Wertpapierhäuser"},"answer":"The Securities firm licence (Wertpapierhaus-Bewilligung nach Art. 41 FINIG) is issued by Swiss Financial Market Supervisory Authority (FINMA) under Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FinMIA, SR 958.1). The official register lists 34 current holders. The legal decision period is No fixed calendar deadline under Swiss administrative law. Ownership changes need the regulator's approval before completion.","derived_from":"finma-switzerland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/switzerland/","jurisdiction_name":"Switzerland","region":"europe-non-eu","regulator_name":"FINMA","regulator_url":"/licensing/regulators/finma-switzerland/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--CY--cif","family":"investment-firm","jurisdiction":"CY","regulator_id":"cysec-cyprus","official_name":{"value":"Cyprus Investment Firm (CIF) authorisation","source":"https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"CIF REGULATED ENTITIES LIST AS OF 04 MAY 2026"},"legal_basis":[{"value":"The Investment Services and Activities and Regulated Markets Law of 2017 (Law 87(I)/2017)","source":"https://www.cysec.gov.cy/en-GB/legislation/services-markets/epey/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"The Cyprus Securities and Exchange Commission (Establishment and Responsibilities) Law of 2009 (Law 73(I)/2009)","source":"https://www.cysec.gov.cy/en-GB/legislation/cysec/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"The Alternative Investment Fund Managers Law of 2013 (Law 56(I)/2013)","source":"https://www.cysec.gov.cy/en-GB/legislation/collective-investment/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["cy-investment-services-law-2017-87i","cy-cysec-law-2009-73i","cy-aifm-law-2013-56i","cy-open-ended-uci-law-2012-78i","eu-mifid2-2014-65","eu-mifir-600-2014","eu-aifmd-2011-61","eu-ucits-2009-65"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 7,000 lump sum for core investment services (paragraphs 1-7 of Part I, Annex I of Law 87(I)/2017), plus EUR 25,000 for operating an MTF/OTF, EUR 500 per ancillary service, and EUR 2,000 if engaging in algorithmic trading","source":"https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=80ccefe0-a712-401c-a857-6edbb3421a7e","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A single lump sum of seven thousand (7.000)euro for the investment services"},"annual":{"value":"Fixed annual fee between EUR 5,000 and EUR 10,000 (depending on initial capital category), plus turnover surcharge above EUR 500,000 (0.75% up to EUR 1M, decreasing to 0.0975% above EUR 10M, capped at EUR 150,000 total), plus EUR 3,000 for CFD providers and EUR 2,000 for algorithmic trading","source":"https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=80ccefe0-a712-401c-a857-6edbb3421a7e","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A CIF or an IF registered in a third country which provides services"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application","source":"https://www.cysec.gov.cy/en-GB/legislation/services-markets/epey/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person proposing to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% in a CIF, AIFM, or CASP, or to achieve control making it a subsidiary, must submit prior written notification to CySEC under Sections 12 and 13 of Law 87(I)/2017 and MiCA Article 83. CySEC acknowledges receipt within two working days and has a statutory assessment period of 60 working days to oppose the acquisition based on reputation, financial soundness, AML risks, and fit-and-proper criteria. The assessment period may be interrupted once by up to 20 working days (or 30 working days for non-EU entities) to request additional information. If CySEC does not object in writing before expiry, the transaction is deemed approved. Closing without CySEC non-opposition suspends voting rights and risks statutory penalties.","source":"https://www.cylaw.org/nomoi/enop/non-ind/2017_1_87/full.html","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/","source":"https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":248,"source":"https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"CIF REGULATED ENTITIES LIST AS OF 04 MAY 2026"},"answer":"The Cyprus Investment Firm (CIF) authorisation is issued by Cyprus Securities and Exchange Commission (CySEC) under The Investment Services and Activities and Regulated Markets Law of 2017 (Law 87(I)/2017). It can be passported to the other EU/EEA states by notification. The official register lists 248 current holders. The legal decision period is 6 months from receipt of a complete application. Ownership changes need the regulator's approval before completion.","derived_from":"cysec-cyprus","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/cyprus-cif/","jurisdiction_name":"Cyprus","region":"eu-eea","regulator_name":"CySEC","regulator_url":"/licensing/regulators/cysec-cyprus/","family_short":"IF","capital_eur":null,"months":6},{"id":"investment-firm--CZ","family":"investment-firm","jurisdiction":"CZ","regulator_id":"cnb-czechia","official_name":{"value":"Investment Firm licence (povolení k činnosti obchodníka s cennými papíry - OCP)","source":"https://www.cnb.cz/en/supervision-financial-market/conduct-of-supervision/licensing-and-approval-proceedings/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Investment firms, investment intermediaries"},"legal_basis":[{"value":"Act No. 240/2013 Coll. on Management Companies and Investment Funds","source":"https://www.zakonyprolidi.cz/cs/2013-240","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["cz-management-companies-and-investment-funds-act-2013","eu-mifid2-2014-65","eu-aifmd-2011-61"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","fees":{"application":{"value":"CZK 20,000 to CZK 100,000 depending on scope of investment services","source":"https://www.zakonyprolidi.cz/cs/2004-634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"obchodníka s cennými papíry podle § 8a odst. 1 nebo 2"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within six months of the submission of a complete application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance.","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Osoba nebo osoby jednající ve shodě oznámí předem České národní bance svůj záměr"}},"register_url":{"value":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":43,"source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Investment firms 38 42 43"},"answer":"The Investment Firm licence (povolení k činnosti obchodníka s cennými papíry - OCP) is issued by Czech National Bank (CNB) under Act No. 240/2013 Coll. on Management Companies and Investment Funds. It can be passported to the other EU/EEA states by notification. The official register lists 43 current holders. The legal decision period is 6 months from receipt of a complete application. Ownership changes need the regulator's approval before completion.","derived_from":"cnb-czechia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/czech-republic/","jurisdiction_name":"Czech Republic","region":"eu-eea","regulator_name":"CNB","regulator_url":"/licensing/regulators/cnb-czechia/","family_short":"IF","capital_eur":null,"months":6},{"id":"investment-firm--DE","family":"investment-firm","jurisdiction":"DE","regulator_id":"bafin-germany","official_name":{"value":"Investment firm licence (Erlaubnis zur Erbringung von Wertpapierdienstleistungen nach § 15 WpIG)","source":"https://www.gesetze-im-internet.de/wpig/__15.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Erteilung der Erlaubnis (1) Wer im Inland gewerbsmäßig oder in einem Umfang"},"legal_basis":[{"value":"German Investment Firms Act (Wertpapierinstitutsgesetz - WpIG)","source":"https://www.gesetze-im-internet.de/wpig/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"German Capital Investment Code (Kapitalanlagegesetzbuch - KAGB)","source":"https://www.gesetze-im-internet.de/kagb/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"German Electronic Securities Act (Gesetz über elektronische Wertpapiere - eWpG)","source":"https://www.gesetze-im-internet.de/ewpg/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["de-investment-firms-act","de-capital-investment-code","de-electronic-securities-act","eu-mifid2-2014-65","eu-crr-575-2013"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 6,336 or time spent","source":"https://www.gesetze-im-internet.de/findagebv/anlage.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"wenn dem Wertpapierinstitut nicht die Befugnis eingeräumt ist ... 6 336"},"annual":{"value":"Annual cost allocation levy (Umlage) based on gross commission income","source":"https://www.bafin.de/DE/die-bafin/ueber-die-bafin/organisation/finanzierung/finanzierung_node.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Umlagen (§§ 16 ff. FinDAG ) zusammen (§ 13 Abs. 1 FinDAG )"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application","source":"https://www.gesetze-im-internet.de/wpig/__16.html","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining control of a credit institution, payment institution, or investment firm, requires prior written notification to BaFin and the Deutsche Bundesbank. BaFin conducts an assessment of acquirer reliability, professional competence, financial soundness, and money laundering risks within 60 working days from receipt of a complete filing, interruptible once by up to 20 working days (or 30 working days if non-EEA) to request additional information, under Section 2c KWG, applied mutatis mutandis to payment and e-money institutions via Section 14 ZAG and to investment firms via Section 24 WpIG.","source":"https://www.gesetze-im-internet.de/kredwg/__2c.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"innerhalb von 60 Arbeitstagen ab dem Datum des Schreibens ... zu beurteilen"}},"register_url":{"value":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=100&sucheButtonInstitut=Suche","source":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=100&sucheButtonInstitut=Suche","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":664,"source":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=100&sucheButtonInstitut=Suche","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"664 Elemente gefunden"},"answer":"The Investment firm licence (Erlaubnis zur Erbringung von Wertpapierdienstleistungen nach § 15 WpIG) is issued by Federal Financial Supervisory Authority (BaFin) under German Investment Firms Act (Wertpapierinstitutsgesetz - WpIG). It can be passported to the other EU/EEA states by notification. The official register lists 664 current holders. The legal decision period is 6 months from receipt of a complete application. The application fee is EUR 6,336 or time spent.","derived_from":"bafin-germany","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/germany/","jurisdiction_name":"Germany","region":"eu-eea","regulator_name":"BaFin","regulator_url":"/licensing/regulators/bafin-germany/","family_short":"IF","capital_eur":null,"months":6},{"id":"investment-firm--EE","family":"investment-firm","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Authorisation as an investment firm","source":"https://www.fi.ee/en/investment/applying-operating-licence/operating-licence-investment-firm","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Application for authorisation of investment firms"},"legal_basis":[{"value":"Securities Market Act","source":"https://www.riigiteataja.ee/en/akt/521072025001","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ee-securities-market-act","eu-mifid2-2014-65","eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 3,000","source":"https://www.riigiteataja.ee/en/akt/529072025004","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"Within 2 months of receipt of complete information and documents, but no later than 6 months after initial receipt","source":"https://www.fi.ee/en/investment/applying-operating-licence/operating-licence-investment-firm","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within two months of the receipt of all the required information and documents"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/supervised-entities?closed=1&st[160]=160","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[160]=160","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":6,"source":"https://www.fi.ee/en/supervised-entities?closed=1&st[160]=160","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licenced investment firms in Estonia"},"answer":"The Authorisation as an investment firm is issued by Finantsinspektsioon (FI) under Securities Market Act. It can be passported to the other EU/EEA states by notification. The official register lists 6 current holders. The legal decision period is Within 2 months of receipt of complete information and documents, but no later than 6 months after initial receipt. The application fee is EUR 3,000. Ownership changes need the regulator's approval before completion.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/estonia/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"IF","capital_eur":null,"months":2},{"id":"investment-firm--ES--broker-dealer","family":"investment-firm","jurisdiction":"ES","regulator_id":"cnmv-spain","official_name":{"value":"Sociedad de Valores y Agencia de Valores (SV / AV) investment firm licence","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2023-7053","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"empresas de servicios de inversión"},"legal_basis":[{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 600/2014 on markets in financial instruments (MiFIR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014R0600","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/65/EC on undertakings for collective investment in transferable securities (UCITS)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mifid2-2014-65","eu-mifir-600-2014","eu-ucits-2009-65","eu-aifmd-2011-61"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 10,000 (Tarifa 4.1.1 for full ESI; plus EUR 300 registration fee under Tarifa 4.3)","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2014-9895","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Tarifa 4.1.1 10.000,00"},"annual":{"value":"0.1% of eligible own funds (minimum EUR 500) under Tarifa 6.1.1, plus conduct supervision under Tarifa 6.6 (0.047% of gross income, minimum EUR 350, plus EUR 0.47 per client, minimum EUR 850)","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2014-9895","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"El 0,1 por ciento, con una cuota fija mínima de 500,00 euros"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2023-7053","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notificarse dentro de los seis meses siguientes a la recepción de la solicitud o al"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person intending to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or to gain control of an ESI, EAF, SGIIC, or CASP, must submit prior written notification to the CNMV under Articles 152-154 of Ley 6/2023 (LMVSI) and MiCA Art. 83. The CNMV assesses acquirer suitability, reputation, financial soundness, and AML/CFT risks within a statutory 60 working days assessment period (interruptible once by up to 20 working days for supplementary filings). Unauthorised acquisitions automatically forfeit voting rights and may trigger administrative intervention or statutory sanctions (Art. 156 LMVSI).","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2023-7053","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"adquirir, directa o indirectamente, una participación significativa en una empresa de servicios de inversión"}},"register_url":{"value":"https://www.cnmv.es/portal/Consultas/ListadoEntidad.aspx?id=1&tipoent=0","source":"https://www.cnmv.es/portal/Consultas/ListadoEntidad.aspx?id=1&tipoent=0","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":111,"source":"https://www.cnmv.es/portal/Consultas/ListadoEntidad.aspx?id=1&tipoent=0","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"List of Investment Firms (Portfolio Management excluded)"},"answer":"The Sociedad de Valores y Agencia de Valores (SV / AV) investment firm licence is issued by National Securities Market Commission (CNMV) under Directive 2014/65/EU on markets in financial instruments (MiFID II). It can be passported to the other EU/EEA states by notification. The official register lists 111 current holders. The legal decision period is 6 months from receipt of a complete application. Ownership changes need the regulator's approval before completion.","derived_from":"cnmv-spain","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/spain-broker-dealer/","jurisdiction_name":"Spain","region":"eu-eea","regulator_name":"CNMV","regulator_url":"/licensing/regulators/cnmv-spain/","family_short":"IF","capital_eur":null,"months":6},{"id":"investment-firm--ES--eaf","family":"investment-firm","jurisdiction":"ES","regulator_id":"cnmv-spain","official_name":{"value":"Empresa de Asesoramiento Financiero (EAF) licence","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2023-7053","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"empresas de asesoramiento financiero"},"legal_basis":[{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 600/2014 on markets in financial instruments (MiFIR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014R0600","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/65/EC on undertakings for collective investment in transferable securities (UCITS)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mifid2-2014-65","eu-mifir-600-2014","eu-ucits-2009-65","eu-aifmd-2011-61"],"activity_ids":["investment-advice"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 1,000 (Tarifa 4.2.3; plus EUR 300 registration fee under Tarifa 4.3)","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2014-9895","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Tarifa 4.2.3 1000,00"},"annual":{"value":"0.1% of own funds (minimum EUR 500) under Tarifa 6.1.2, plus conduct supervision under Tarifa 6.6","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2023-7053","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Tarifa 6.1.2 Para las EAFN: El 0,1 por ciento"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2023-7053","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notificarse dentro de los seis meses siguientes a la recepción de la solicitud o al"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person intending to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or to gain control of an ESI, EAF, SGIIC, or CASP, must submit prior written notification to the CNMV under Articles 152-154 of Ley 6/2023 (LMVSI) and MiCA Art. 83. The CNMV assesses acquirer suitability, reputation, financial soundness, and AML/CFT risks within a statutory 60 working days assessment period (interruptible once by up to 20 working days for supplementary filings). Unauthorised acquisitions automatically forfeit voting rights and may trigger administrative intervention or statutory sanctions (Art. 156 LMVSI).","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2023-7053","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"adquirir, directa o indirectamente, una participación significativa en una empresa de servicios de inversión"}},"register_url":{"value":"https://www.cnmv.es/portal/Consultas/ListadoEntidad.aspx?id=1&tipoent=2","source":"https://www.cnmv.es/portal/Consultas/ListadoEntidad.aspx?id=1&tipoent=2","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":93,"source":"https://www.cnmv.es/portal/Consultas/ListadoEntidad.aspx?id=1&tipoent=2","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"List of Financial Advisory Firms"},"answer":"The Empresa de Asesoramiento Financiero (EAF) licence is issued by National Securities Market Commission (CNMV) under Directive 2014/65/EU on markets in financial instruments (MiFID II). It can be passported to the other EU/EEA states by notification. The official register lists 93 current holders. The legal decision period is 6 months from receipt of a complete application. The application fee is EUR 1,000 (Tarifa 4.2.3; plus EUR 300 registration fee under Tarifa 4.3).","derived_from":"cnmv-spain","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/spain-eaf/","jurisdiction_name":"Spain","region":"eu-eea","regulator_name":"CNMV","regulator_url":"/licensing/regulators/cnmv-spain/","family_short":"IF","capital_eur":null,"months":6},{"id":"investment-firm--FR--cif","family":"investment-firm","jurisdiction":"FR","regulator_id":"amf-france","official_name":{"value":"Conseiller en investissements financiers (CIF) / Financial investment adviser status","source":"https://www.amf-france.org/sites/institutionnel/files/private/2025-12/chiffres-cles-cif-2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"la population totale des CIF s'élevait à 7 013 au 31 décembre 2024"},"legal_basis":[{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 600/2014 on markets in financial instruments (MiFIR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014R0600","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mifid2-2014-65","eu-mifir-600-2014","eu-aifmd-2011-61","eu-ucits-2009-65"],"activity_ids":["investment-advice"],"passporting":"eu-eea","fees":{"annual":{"value":"EUR 450 annual contribution to the AMF (Article D. 621-27 II 11°), collected via the single register ORIAS","source":"https://www.amf-france.org/sites/institutionnel/files/private/2026-01/2025-guide-des-contributions-fr_modifie-coquille-.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"La contribution due par les personnes mentionnées au k du 4° du II de l'article"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding needs the AMF's prior approval. For portfolio management companies (SGP) the thresholds are 10%, 20%, 33.33% and 50% of capital or voting rights (Code monétaire et financier, Article L. 532-9-1). For crypto-asset service providers MiCA Articles 83 and 84 apply: the thresholds are 20%, 30% and 50%, and the AMF assesses the acquirer within 60 working days of a complete notification.","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.amf-france.org/sites/institutionnel/files/private/2025-12/chiffres-cles-cif-2024.pdf","source":"https://www.amf-france.org/sites/institutionnel/files/private/2025-12/chiffres-cles-cif-2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":7013,"source":"https://www.amf-france.org/sites/institutionnel/files/private/2025-12/chiffres-cles-cif-2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"la population totale des CIF s'élevait à 7 013 au 31 décembre 2024"},"answer":"The Conseiller en investissements financiers (CIF) / Financial investment adviser status is issued by Financial Markets Authority (AMF) under Directive 2014/65/EU on markets in financial instruments (MiFID II). It can be passported to the other EU/EEA states by notification. The official register lists 7013 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"amf-france","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/france-cif/","jurisdiction_name":"France","region":"eu-eea","regulator_name":"AMF","regulator_url":"/licensing/regulators/amf-france/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--GB","family":"investment-firm","jurisdiction":"GB","regulator_id":"fca-uk","official_name":{"value":"MIFIDPRU Investment Firm Authorisation (Part 4A FSMA)","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"MiFID investment managers fall into Category 6"},"legal_basis":[{"value":"Financial Services and Markets Act 2000 (c. 8)","source":"https://www.legislation.gov.uk/ukpga/2000/8/contents","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (SI 2026/102)","source":"https://www.legislation.gov.uk/uksi/2026/102/contents/made","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["gb-fsma-2000","gb-fsma-cryptoassets-regulations-2026"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice"],"passporting":"none","fees":{"application":{"value":"GBP 2,820 (Category 4 for advisory/corporate finance) to GBP 11,260 (Category 6 for MiFID investment managers or principal trading firms)","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"MiFID investment managers fall into Category 6"},"annual":{"value":"GBP 2,000 standard minimum fee (Fee-block A.0) plus variable levy based on funds under management (A.7), principal trading (A.10), or client assets (A.21)","source":"https://www.fca.org.uk/firms/fees/how-we-calculate-annual-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Most firms with the ‘A’ fee-blocks will pay a minimum fee of £2,000"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Section 55V of FSMA 2000","source":"https://www.legislation.gov.uk/ukpga/2000/8/contents","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Determination of applications"},"observed":{"value":"Median elapsed determination time of 138 calendar days (Lower Quartile: 105 days, Upper Quartile: 183 days) across 310 Part 4A solo-regulated New Firm Authorisations determined in Q4 2025/26","source":"https://www.fca.org.uk/data/fca-authorisations-operating-service-metrics-2025-26-q4","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"New Firm Authorisations"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested.","source":"https://www.fca.org.uk/firms/change-control/control-thresholds-bands","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Thresholds for control of Directive firms are defined in the following bands: 10% or more"}},"answer":"The MIFIDPRU Investment Firm Authorisation (Part 4A FSMA) is issued by Financial Conduct Authority (FCA) under Financial Services and Markets Act 2000 (c. 8). The legal decision period is 6 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Section 55V of FSMA 2000. Ownership changes need the regulator's approval before completion.","derived_from":"fca-uk","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/united-kingdom/","jurisdiction_name":"United Kingdom","region":"europe-non-eu","regulator_name":"FCA","regulator_url":"/licensing/regulators/fca-uk/","family_short":"IF","capital_eur":null,"months":6},{"id":"investment-firm--HK--type1","family":"investment-firm","jurisdiction":"HK","regulator_id":"sfc-hong-kong","official_name":{"value":"Type 1 Licence for Dealing in Securities","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Types-of-intermediary-and-licensed-individual","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Type 1 (dealing in securities)"},"legal_basis":[{"value":"Securities and Futures Ordinance (Cap. 571)","source":"https://www.sfc.hk/en/Rules-and-standards/Laws/Securities-and-Futures-Ordinance-with-subsidiary-legislation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Securities and Futures (Fees) Rules (Cap. 571AF)","source":"https://www.elegislation.gov.hk/hk/cap571AF","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Securities and Futures (Financial Resources) Rules (Cap. 571N)","source":"https://www.elegislation.gov.hk/hk/cap571N","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["hk-securities-and-futures-ordinance","hk-securities-and-futures-fees-rules","hk-securities-and-futures-financial-resources-rules"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account"],"passporting":"none","fees":{"application":{"value":"HKD 4,740","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed corporation (LC) ... $4,740 per RA"},"annual":{"value":"HKD 4,740","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Annual-licensing-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"pay annual licensing fees within one month after each anniversary date"}},"timelines":{"statutory":{"value":"15 weeks from submission of a complete corporate application","source":"https://www.sfc.hk/en/About-the-SFC/Corporate-governance/Performance-pledges","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Processing of licensing applications Corporations 15 weeks"},"observed":{"value":"SFC performance target: 15 weeks to process a complete corporate licence application (one target for all regulated activity types)","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 132 of the Securities and Futures Ordinance (SFO), prior approval from the SFC is mandatory before any person can become or continue to be a substantial shareholder of a licensed corporation. Under Schedule 1 Part 1 Section 6, a substantial shareholder threshold is 10% or more of issued shares, 10% or more of voting power at general meetings, or control of 35% or more of voting rights in a holding entity. If acquired without prior knowledge, application must be made within 3 business days of becoming aware. An application fee of HKD 3,000 applies via Form 7 on WINGS-LIC, and approvals are valid for 6 months.","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person (including a corporation) is required to apply for the SFC's approval before"}},"answer":"The Type 1 Licence for Dealing in Securities is issued by Securities and Futures Commission (SFC) under Securities and Futures Ordinance (Cap. 571). The legal decision period is 15 weeks from submission of a complete corporate application. The application fee is HKD 4,740. Ownership changes need the regulator's approval before completion.","derived_from":"sfc-hong-kong","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/hong-kong-type1/","jurisdiction_name":"Hong Kong","region":"apac","regulator_name":"SFC","regulator_url":"/licensing/regulators/sfc-hong-kong/","family_short":"IF","capital_eur":null,"months":3.5},{"id":"investment-firm--HK--type2","family":"investment-firm","jurisdiction":"HK","regulator_id":"sfc-hong-kong","official_name":{"value":"Type 2 Licence for Dealing in Futures Contracts","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Types-of-intermediary-and-licensed-individual","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Type 2 (dealing in futures contracts)"},"legal_basis":[{"value":"Securities and Futures Ordinance (Cap. 571)","source":"https://www.sfc.hk/en/Rules-and-standards/Laws/Securities-and-Futures-Ordinance-with-subsidiary-legislation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Securities and Futures (Fees) Rules (Cap. 571AF)","source":"https://www.elegislation.gov.hk/hk/cap571AF","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Securities and Futures (Financial Resources) Rules (Cap. 571N)","source":"https://www.elegislation.gov.hk/hk/cap571N","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["hk-securities-and-futures-ordinance","hk-securities-and-futures-fees-rules","hk-securities-and-futures-financial-resources-rules"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account"],"passporting":"none","fees":{"application":{"value":"HKD 4,740","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed corporation (LC) ... $4,740 per RA"},"annual":{"value":"HKD 4,740","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Annual-licensing-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"pay annual licensing fees within one month after each anniversary date"}},"timelines":{"statutory":{"value":"15 weeks from submission of a complete corporate application","source":"https://www.sfc.hk/en/About-the-SFC/Corporate-governance/Performance-pledges","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Processing of licensing applications Corporations 15 weeks"},"observed":{"value":"SFC performance target: 15 weeks to process a complete corporate licence application (one target for all regulated activity types)","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 132 of the Securities and Futures Ordinance (SFO), prior approval from the SFC is mandatory before any person can become or continue to be a substantial shareholder of a licensed corporation. Under Schedule 1 Part 1 Section 6, a substantial shareholder threshold is 10% or more of issued shares, 10% or more of voting power at general meetings, or control of 35% or more of voting rights in a holding entity. If acquired without prior knowledge, application must be made within 3 business days of becoming aware. An application fee of HKD 3,000 applies via Form 7 on WINGS-LIC, and approvals are valid for 6 months.","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person (including a corporation) is required to apply for the SFC's approval before"}},"answer":"The Type 2 Licence for Dealing in Futures Contracts is issued by Securities and Futures Commission (SFC) under Securities and Futures Ordinance (Cap. 571). The legal decision period is 15 weeks from submission of a complete corporate application. The application fee is HKD 4,740. Ownership changes need the regulator's approval before completion.","derived_from":"sfc-hong-kong","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/hong-kong-type2/","jurisdiction_name":"Hong Kong","region":"apac","regulator_name":"SFC","regulator_url":"/licensing/regulators/sfc-hong-kong/","family_short":"IF","capital_eur":null,"months":3.5},{"id":"investment-firm--HK--type4","family":"investment-firm","jurisdiction":"HK","regulator_id":"sfc-hong-kong","official_name":{"value":"Type 4 Licence for Advising on Securities","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Types-of-intermediary-and-licensed-individual","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Type 4 (advising on securities)"},"legal_basis":[{"value":"Securities and Futures Ordinance (Cap. 571)","source":"https://www.sfc.hk/en/Rules-and-standards/Laws/Securities-and-Futures-Ordinance-with-subsidiary-legislation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Securities and Futures (Fees) Rules (Cap. 571AF)","source":"https://www.elegislation.gov.hk/hk/cap571AF","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Securities and Futures (Financial Resources) Rules (Cap. 571N)","source":"https://www.elegislation.gov.hk/hk/cap571N","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["hk-securities-and-futures-ordinance","hk-securities-and-futures-fees-rules","hk-securities-and-futures-financial-resources-rules"],"activity_ids":["investment-advice"],"passporting":"none","fees":{"application":{"value":"HKD 4,740","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed corporation (LC) ... $4,740 per RA"},"annual":{"value":"HKD 4,740","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Annual-licensing-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"pay annual licensing fees within one month after each anniversary date"}},"timelines":{"statutory":{"value":"15 weeks from submission of a complete corporate application","source":"https://www.sfc.hk/en/About-the-SFC/Corporate-governance/Performance-pledges","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Processing of licensing applications Corporations 15 weeks"},"observed":{"value":"SFC performance target: 15 weeks to process a complete corporate licence application (one target for all regulated activity types)","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 132 of the Securities and Futures Ordinance (SFO), prior approval from the SFC is mandatory before any person can become or continue to be a substantial shareholder of a licensed corporation. Under Schedule 1 Part 1 Section 6, a substantial shareholder threshold is 10% or more of issued shares, 10% or more of voting power at general meetings, or control of 35% or more of voting rights in a holding entity. If acquired without prior knowledge, application must be made within 3 business days of becoming aware. An application fee of HKD 3,000 applies via Form 7 on WINGS-LIC, and approvals are valid for 6 months.","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person (including a corporation) is required to apply for the SFC's approval before"}},"answer":"The Type 4 Licence for Advising on Securities is issued by Securities and Futures Commission (SFC) under Securities and Futures Ordinance (Cap. 571). The legal decision period is 15 weeks from submission of a complete corporate application. The application fee is HKD 4,740. Ownership changes need the regulator's approval before completion.","derived_from":"sfc-hong-kong","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/hong-kong-type4/","jurisdiction_name":"Hong Kong","region":"apac","regulator_name":"SFC","regulator_url":"/licensing/regulators/sfc-hong-kong/","family_short":"IF","capital_eur":null,"months":3.5},{"id":"investment-firm--HK--type6","family":"investment-firm","jurisdiction":"HK","regulator_id":"sfc-hong-kong","official_name":{"value":"Type 6 Licence for Advising on Corporate Finance","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Types-of-intermediary-and-licensed-individual","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Type 6 (advising on corporate finance)"},"legal_basis":[{"value":"Securities and Futures Ordinance (Cap. 571)","source":"https://www.sfc.hk/en/Rules-and-standards/Laws/Securities-and-Futures-Ordinance-with-subsidiary-legislation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Securities and Futures (Fees) Rules (Cap. 571AF)","source":"https://www.elegislation.gov.hk/hk/cap571AF","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Securities and Futures (Financial Resources) Rules (Cap. 571N)","source":"https://www.elegislation.gov.hk/hk/cap571N","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["hk-securities-and-futures-ordinance","hk-securities-and-futures-fees-rules","hk-securities-and-futures-financial-resources-rules"],"activity_ids":["investment-advice"],"passporting":"none","fees":{"application":{"value":"HKD 4,740","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed corporation (LC) ... $4,740 per RA"},"annual":{"value":"HKD 4,740","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Annual-licensing-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"pay annual licensing fees within one month after each anniversary date"}},"timelines":{"statutory":{"value":"15 weeks from submission of a complete corporate application","source":"https://www.sfc.hk/en/About-the-SFC/Corporate-governance/Performance-pledges","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Processing of licensing applications Corporations 15 weeks"},"observed":{"value":"SFC performance target: 15 weeks to process a complete corporate licence application (one target for all regulated activity types)","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 132 of the Securities and Futures Ordinance (SFO), prior approval from the SFC is mandatory before any person can become or continue to be a substantial shareholder of a licensed corporation. Under Schedule 1 Part 1 Section 6, a substantial shareholder threshold is 10% or more of issued shares, 10% or more of voting power at general meetings, or control of 35% or more of voting rights in a holding entity. If acquired without prior knowledge, application must be made within 3 business days of becoming aware. An application fee of HKD 3,000 applies via Form 7 on WINGS-LIC, and approvals are valid for 6 months.","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person (including a corporation) is required to apply for the SFC's approval before"}},"answer":"The Type 6 Licence for Advising on Corporate Finance is issued by Securities and Futures Commission (SFC) under Securities and Futures Ordinance (Cap. 571). The legal decision period is 15 weeks from submission of a complete corporate application. The application fee is HKD 4,740. Ownership changes need the regulator's approval before completion.","derived_from":"sfc-hong-kong","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/hong-kong-type6/","jurisdiction_name":"Hong Kong","region":"apac","regulator_name":"SFC","regulator_url":"/licensing/regulators/sfc-hong-kong/","family_short":"IF","capital_eur":null,"months":3.5},{"id":"investment-firm--HK--type7","family":"investment-firm","jurisdiction":"HK","regulator_id":"sfc-hong-kong","official_name":{"value":"Type 7 Licence for Providing Automated Trading Services","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Types-of-intermediary-and-licensed-individual","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Type 7 (providing automated trading services)"},"legal_basis":[{"value":"Securities and Futures Ordinance (Cap. 571)","source":"https://www.sfc.hk/en/Rules-and-standards/Laws/Securities-and-Futures-Ordinance-with-subsidiary-legislation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Securities and Futures (Fees) Rules (Cap. 571AF)","source":"https://www.elegislation.gov.hk/hk/cap571AF","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Securities and Futures (Financial Resources) Rules (Cap. 571N)","source":"https://www.elegislation.gov.hk/hk/cap571N","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["hk-securities-and-futures-ordinance","hk-securities-and-futures-fees-rules","hk-securities-and-futures-financial-resources-rules"],"activity_ids":["operating-mtf"],"passporting":"none","fees":{"application":{"value":"HKD 4,740","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed corporation (LC) ... $4,740 per RA"},"annual":{"value":"HKD 4,740","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Annual-licensing-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"pay annual licensing fees within one month after each anniversary date"}},"timelines":{"statutory":{"value":"15 weeks from submission of a complete corporate application","source":"https://www.sfc.hk/en/About-the-SFC/Corporate-governance/Performance-pledges","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Processing of licensing applications Corporations 15 weeks"},"observed":{"value":"SFC performance target: 15 weeks to process a complete corporate licence application (one target for all regulated activity types)","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 132 of the Securities and Futures Ordinance (SFO), prior approval from the SFC is mandatory before any person can become or continue to be a substantial shareholder of a licensed corporation. Under Schedule 1 Part 1 Section 6, a substantial shareholder threshold is 10% or more of issued shares, 10% or more of voting power at general meetings, or control of 35% or more of voting rights in a holding entity. If acquired without prior knowledge, application must be made within 3 business days of becoming aware. An application fee of HKD 3,000 applies via Form 7 on WINGS-LIC, and approvals are valid for 6 months.","source":"https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Licensing/Application-procedures","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person (including a corporation) is required to apply for the SFC's approval before"}},"answer":"The Type 7 Licence for Providing Automated Trading Services is issued by Securities and Futures Commission (SFC) under Securities and Futures Ordinance (Cap. 571). The legal decision period is 15 weeks from submission of a complete corporate application. The application fee is HKD 4,740. Ownership changes need the regulator's approval before completion.","derived_from":"sfc-hong-kong","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/hong-kong-type7/","jurisdiction_name":"Hong Kong","region":"apac","regulator_name":"SFC","regulator_url":"/licensing/regulators/sfc-hong-kong/","family_short":"IF","capital_eur":null,"months":3.5},{"id":"investment-firm--IE--iia","family":"investment-firm","jurisdiction":"IE","regulator_id":"central-bank-of-ireland","official_name":{"value":"Investment Business Firm Authorisation (Section 10 IIA 1995)","source":"https://registers.centralbank.ie/DownloadsPage.aspx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Register of Investment Business Firms authorised under Section 10 of the Investment Intermediaries Act, 1995"},"legal_basis":[{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mifid2-2014-65"],"activity_ids":["order-reception-transmission","investment-advice"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.","source":"https://www.centralbank.ie/regulation/industry-market-sectors/payment-institutions/notification-process-for-proposed-acquisitions-of-qualifying-holdings","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"complete its assessment of the Notification within 60 working days"}},"answer":"The Investment Business Firm Authorisation (Section 10 IIA 1995) is issued by Central Bank of Ireland (CBI) under Directive 2014/65/EU on markets in financial instruments (MiFID II). It can be passported to the other EU/EEA states by notification. Ownership changes need the regulator's approval before completion.","derived_from":"central-bank-of-ireland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/ireland-iia/","jurisdiction_name":"Ireland","region":"eu-eea","regulator_name":"CBI","regulator_url":"/licensing/regulators/central-bank-of-ireland/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--IE","family":"investment-firm","jurisdiction":"IE","regulator_id":"central-bank-of-ireland","official_name":{"value":"Investment Firm Authorisation (MiFID II)","source":"https://www.centralbank.ie/regulation/how-we-regulate/authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Investment Firms"},"legal_basis":[{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mifid2-2014-65"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","fees":{"annual":{"value":"Set by the firm's sub-category (D2 to D10) and PRISM impact rating under Category D of S.I. No. 348/2026","source":"https://www.irishstatutebook.ie/eli/2026/si/348/made/en/print","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.","source":"https://www.centralbank.ie/regulation/industry-market-sectors/payment-institutions/notification-process-for-proposed-acquisitions-of-qualifying-holdings","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"complete its assessment of the Notification within 60 working days"}},"answer":"The Investment Firm Authorisation (MiFID II) is issued by Central Bank of Ireland (CBI) under Directive 2014/65/EU on markets in financial instruments (MiFID II). It can be passported to the other EU/EEA states by notification. Ownership changes need the regulator's approval before completion.","derived_from":"central-bank-of-ireland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/ireland/","jurisdiction_name":"Ireland","region":"eu-eea","regulator_name":"CBI","regulator_url":"/licensing/regulators/central-bank-of-ireland/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--IT--sim","family":"investment-firm","jurisdiction":"IT","regulator_id":"consob-italy","official_name":{"value":"Società di Intermediazione Mobiliare (SIM) investment firm licence","source":"https://www.consob.it/web/consob-and-its-activities/register-of-italian-investment-firms-sims-","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Register of Italian Investment Firms (SIMs)"},"legal_basis":[{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mifid2-2014-65"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","fees":{"annual":{"value":"EUR 5,890.00 plus 0.68% of revenues from investment services (capped at EUR 162,040.00 for revenues up to EUR 50m, EUR 195,800.00 up to EUR 100m, and EUR 222,810.00 over EUR 100m)","source":"https://www.consob.it/documents/d/asset-library-1912910/d23799_en-1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The contribution is calculated as €5,890.00 plus 0.68% of revenues from investment services."}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application","source":"https://www.consob.it/web/area-pubblica/tuf-e-regolamenti-consob","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Article 15 of Legislative Decree 58/1998 (TUF) and Articles 83-84 of Regulation (EU) 2023/1114 (MiCA) as implemented by Legislative Decree 129/2024, any natural or legal person intending to acquire or dispose of a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining/losing control of a SIM or CASP, must give prior written notification. For SIMs, notification is submitted to Banca d'Italia (which conducts the prudential assessment, consulting CONSOB) with copy to CONSOB; for CASPs, competent authorities conduct the suitability and AML review within a 60 working-day assessment window (interruptible once by up to 20 working days). Unauthorised acquisitions automatically forfeit voting rights and risk statutory sanctions.","source":"https://www.gazzettaufficiale.it/eli/id/2024/09/13/24G00147/sg","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Entrata in vigore del provvedimento: 14/09/2024"}},"answer":"The Società di Intermediazione Mobiliare (SIM) investment firm licence is issued by National Commission for Companies and the Stock Exchange (CONSOB) under Directive 2014/65/EU on markets in financial instruments (MiFID II). It can be passported to the other EU/EEA states by notification. The legal decision period is 6 months from receipt of a complete application. Ownership changes need the regulator's approval before completion.","derived_from":"consob-italy","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/italy-sim/","jurisdiction_name":"Italy","region":"eu-eea","regulator_name":"CONSOB","regulator_url":"/licensing/regulators/consob-italy/","family_short":"IF","capital_eur":null,"months":6},{"id":"investment-firm--KY","family":"investment-firm","jurisdiction":"KY","regulator_id":"cima-cayman","official_name":{"value":"Securities Investment Business Licence / Registered Person","source":"https://www.cima.ky/securities-licensing-authorisation-requirements","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Securities Investment Business Act (2020 Revision)","source":"https://www.cima.ky/acts-and-regulations","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ky-securities-investment-business-act"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under s.28(1) of the VASP Act, CIMA's prior approval is required before any issue or voluntary transfer of shares/interests reaching 10% or more of a VASP; the acquirer must file a Personal Questionnaire and fitness documentation. Acting without approval is an offence, and CIMA may also take action against the licence. Other CIMA-regulated entities (banks, trust companies, mutual fund administrators, securities licensees) face a stricter 0% threshold — any transfer needs prior approval.","source":"https://maples.com/knowledge/cima-change-of-control-process-a-guide-for-cayman-islands-regulated-entities","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Asset Service Providers require prior approval only when transfers exceed 10%"}},"register_url":{"value":"https://www.cima.ky/securities-statistics","source":"https://www.cima.ky/securities-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":"45 licensees and 1,337 registered persons","source":"https://www.cima.ky/securities-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Registered Persons: 1,337, Licensees: 45"},"answer":"The Securities Investment Business Licence / Registered Person is issued by Cayman Islands Monetary Authority (CIMA) under Securities Investment Business Act (2020 Revision). The official register lists 45 licensees and 1,337 registered persons current holders. Ownership changes need the regulator's approval before completion.","derived_from":"cima-cayman","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/cayman-islands/","jurisdiction_name":"Cayman Islands","region":"offshore","regulator_name":"CIMA","regulator_url":"/licensing/regulators/cima-cayman/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--LT","family":"investment-firm","jurisdiction":"LT","regulator_id":"bank-of-lithuania","official_name":{"value":"Financial brokerage firm licence","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=78&market=3&subject=3","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Financial brokerage firms"},"legal_basis":[{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013R0575","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mifid2-2014-65","eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or becoming controlled, requires prior written notification to the Bank of Lithuania. The supervisory authority assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory 60 working days period (interruptible once by up to 20 working days for additional information) under Law on Banks Arts 24-25, applied mutatis mutandis to EMIs (EMI Law Art. 17) and PIs (PI Law Art. 10).","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person ... who have taken a decision on the acquisition of a qualifying holding"}},"register_url":{"value":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=78&market=3&subject=3","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=78&market=3&subject=3","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":17,"source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=78&market=3&subject=3","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"All results 17"},"answer":"The Financial brokerage firm licence is issued by Bank of Lithuania (LB) under Directive 2014/65/EU on markets in financial instruments (MiFID II). It can be passported to the other EU/EEA states by notification. The official register lists 17 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"bank-of-lithuania","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/lithuania/","jurisdiction_name":"Lithuania","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/bank-of-lithuania/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--LU","family":"investment-firm","jurisdiction":"LU","regulator_id":"cssf-luxembourg","official_name":{"value":"Investment firm authorisation","source":"https://www.cssf.lu/en/investment-firms/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Legal requirements and authorisation procedure for investment firms"},"legal_basis":[{"value":"Law of 17 December 2010 relating to undertakings for collective investment","source":"https://www.cssf.lu/en/Document/law-of-17-december-2010/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Law of 12 July 2013 on alternative investment fund managers","source":"https://www.cssf.lu/en/Document/law-of-12-july-2013-2/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lu-law-on-ucis-2010","lu-law-on-aifms-2013","eu-mifid2-2014-65","eu-mifir-600-2014","eu-aifmd-2011-61","eu-ucits-2009-65","eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 50,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A single lump sum of EUR 50,000 for the examination of each authorisation request"},"annual":{"value":"EUR 24,750","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Article 24-1 EUR 37,125 EUR 24,750"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application, maximum 12 months overall","source":"https://www.cssf.lu/en/Document/law-of-5-april-1993/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"dans un délai de six mois à compter de la réception"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or causing an entity to become a subsidiary, requires prior written notification to the CSSF. The CSSF conducts a prudential assessment of acquirer suitability, reputation, financial soundness, and AML risk within 60 working days (interruptible once by up to 20 working days, or 30 working days for non-EU acquirers) under Articles 18 and 18-1 of the Law of 5 April 1993, Article 12 of the Law of 10 November 2009, Article 83 of Regulation (EU) 2023/1114 (MiCA), and Circular CSSF 17/669 adopting the Joint ESA Guidelines.","source":"https://www.cssf.lu/en/Document/circular-cssf-17-669/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Adoption of the Joint Guidelines of ESMA, EBA and EIOPA on the prudential assessment"}},"register_url":{"value":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=IF","source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=IF","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":79,"source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=IF","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"totalElements: 79"},"answer":"The Investment firm authorisation is issued by Commission de Surveillance du Secteur Financier (CSSF) under Law of 17 December 2010 relating to undertakings for collective investment. It can be passported to the other EU/EEA states by notification. The official register lists 79 current holders. The legal decision period is 6 months from receipt of a complete application, maximum 12 months overall. The application fee is EUR 50,000. Ownership changes need the regulator's approval before completion.","derived_from":"cssf-luxembourg","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/luxembourg/","jurisdiction_name":"Luxembourg","region":"eu-eea","regulator_name":"CSSF","regulator_url":"/licensing/regulators/cssf-luxembourg/","family_short":"IF","capital_eur":null,"months":6},{"id":"investment-firm--LV","family":"investment-firm","jurisdiction":"LV","regulator_id":"latvijas-banka","official_name":{"value":"Investment firm licence","source":"https://likumi.lv/ta/en/en/id/332418","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Law on Investment Firms"},"legal_basis":[{"value":"Law on Investment Firms","source":"https://likumi.lv/ta/en/en/id/332418","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lv-law-on-investment-firms","eu-mifid2-2014-65","eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 33%, or 50% of capital or voting rights, or causing the entity to become a subsidiary, requires prior notification and approval from Latvijas Banka. Under Latvijas Banka Regulation No. 241 and the Credit Institution Law, the assessment period is 60 working days from receipt of a complete notification, interruptible once by up to 20 or 30 working days to request supplementary documents; Latvijas Banka evaluates reputation, financial soundness, and AML/CFT compliance before issuing approval.","source":"https://www.bank.lv/en/operational-areas/licensing/credit-institution/procedure-for-the-evaluation-of-qualifying-holding","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"takes a decision to approve or prohibit the acquisition ... within 60 working days"}},"register_url":{"value":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=112-investment-firms","source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=112-investment-firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":13,"source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=112-investment-firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Total results: 13"},"answer":"The Investment firm licence is issued by Latvijas Banka (LB) under Law on Investment Firms. It can be passported to the other EU/EEA states by notification. The official register lists 13 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"latvijas-banka","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/latvia/","jurisdiction_name":"Latvia","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/latvijas-banka/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--MT","family":"investment-firm","jurisdiction":"MT","regulator_id":"mfsa-malta","official_name":{"value":"Investment services licence (Category 1, 2, or 3)","source":"https://legislation.mt/getpdf/68afff3a22d58020787386a0","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Investment Services Act (Cap. 370)","source":"https://legislation.mt/getpdf/68afff3a22d58020787386a0","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mt-investment-services-act","eu-mifid2-2014-65","eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 7,250 for Category 2 (holding client assets) or EUR 15,000 for Category 3 (dealing on own account)","source":"https://legislation.mt/getpdf/685a3bbd2ebba620f8eb8adf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"7,250"},"annual":{"value":"EUR 7,600 minimum (Category 2) or EUR 17,500 minimum (Category 3) + EUR 700 per additional EUR 250,000 net revenue","source":"https://legislation.mt/getpdf/685a3bbd2ebba620f8eb8adf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"7,600"}},"timelines":{"statutory":{"value":"6 months from receipt of a complete application","source":"https://legislation.mt/getpdf/68afff3a22d58020787386a0","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding needs the MFSA's prior approval. For payment and e-money institutions the Financial Institutions Act sets the thresholds at 20%, 30% and 50%; for banks the Banking Act adds a 60-working-day assessment period that can be extended.","source":"https://legislation.mt/getpdf/683418610db9942428cf9d49","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The Investment services licence (Category 1, 2, or 3) is issued by Malta Financial Services Authority (MFSA) under Investment Services Act (Cap. 370). It can be passported to the other EU/EEA states by notification. The legal decision period is 6 months from receipt of a complete application. The application fee is EUR 7,250 for Category 2 (holding client assets) or EUR 15,000 for Category 3 (dealing on own account).","derived_from":"mfsa-malta","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/malta/","jurisdiction_name":"Malta","region":"eu-eea","regulator_name":"MFSA","regulator_url":"/licensing/regulators/mfsa-malta/","family_short":"IF","capital_eur":null,"months":6},{"id":"investment-firm--MU--investment-adviser","family":"investment-firm","jurisdiction":"MU","regulator_id":"fsc-mauritius","official_name":{"value":"Investment Adviser Licence","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=U2VjdXJpdGllcyBBY3Q=&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licence for investment advisers and their representatives"},"legal_basis":[{"value":"Securities Act 2005","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=U2VjdXJpdGllcyBBY3Q=&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mu-securities-act-2005"],"activity_ids":["investment-advice"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 23 of the Financial Services Act 2007 and Section 16 of the VAITOS Act 2021, any issue or transfer of shares or legal or beneficial interest in a licensee requires the prior approval of the FSC, and any unauthorized transfer is void. Prior approval is not required for transfers under 5% (unless resulting in an individual holding over 20% or a change of control) or transfers to existing shareholders that do not alter control, both of which require written notification to the Commission. A controller is defined as any person holding or controlling not less than 20% of shares or voting power, or able to exercise significant influence, or holding board appointment/removal powers. Controllers and beneficial owners are subject to fit and proper vetting.","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=RmluYW5jaWFsIFNlcnZpY2VzIEFjdA==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"except with the approval of the Commission"}},"answer":"The Investment Adviser Licence is issued by Financial Services Commission (FSC) under Securities Act 2005. It covers investment advice. It is valid in Mauritius only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.","derived_from":"fsc-mauritius","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/mauritius-investment-adviser/","jurisdiction_name":"Mauritius","region":"offshore","regulator_name":"FSC","regulator_url":"/licensing/regulators/fsc-mauritius/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--MU--investment-dealer","family":"investment-firm","jurisdiction":"MU","regulator_id":"fsc-mauritius","official_name":{"value":"Investment Dealer Licence","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=U2VjdXJpdGllcyBBY3Q=&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licence for investment dealers and their representatives"},"legal_basis":[{"value":"Securities Act 2005","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=U2VjdXJpdGllcyBBY3Q=&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mu-securities-act-2005"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account"],"passporting":"none","fees":{"application":{"value":"USD 500 to USD 3,250","source":"https://www.gfscglobal.com/mauritius-forex-brokerage-licenses/","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"Within 10 working days from the date an application is determined by the Commission to be complete, pursuant to Section 17B of the Financial Services Act 2007 (inserted by Act 11 of 2024, in force 1 October 2024)","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=RmluYW5jaWFsIFNlcnZpY2VzIEFjdA==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"grant an application within 10 working days"},"observed":{"value":"4 to 7 months from initial submission to final licensing, accounting for preparation, due diligence vetting, and local operational substance establishment","source":"https://www.gfscglobal.com/mauritius-forex-brokerage-licenses/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"normally decided upon FSC approval within 4-7 months from the date of filing"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 23 of the Financial Services Act 2007 and Section 16 of the VAITOS Act 2021, any issue or transfer of shares or legal or beneficial interest in a licensee requires the prior approval of the FSC, and any unauthorized transfer is void. Prior approval is not required for transfers under 5% (unless resulting in an individual holding over 20% or a change of control) or transfers to existing shareholders that do not alter control, both of which require written notification to the Commission. A controller is defined as any person holding or controlling not less than 20% of shares or voting power, or able to exercise significant influence, or holding board appointment/removal powers. Controllers and beneficial owners are subject to fit and proper vetting.","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=RmluYW5jaWFsIFNlcnZpY2VzIEFjdA==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"except with the approval of the Commission"}},"answer":"The Investment Dealer Licence is issued by Financial Services Commission (FSC) under Securities Act 2005. The legal decision period is Within 10 working days from the date an application is determined by the Commission to be complete, pursuant to Section 17B of the Financial Services Act 2007 (inserted by Act 11 of 2024, in force 1 October 2024). The application fee is USD 500 to USD 3,250. Ownership changes need the regulator's approval before completion.","derived_from":"fsc-mauritius","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/mauritius-investment-dealer/","jurisdiction_name":"Mauritius","region":"offshore","regulator_name":"FSC","regulator_url":"/licensing/regulators/fsc-mauritius/","family_short":"IF","capital_eur":null,"months":0.5},{"id":"investment-firm--MY--labuan","family":"investment-firm","jurisdiction":"MY","regulator_id":"labuan-fsa","official_name":{"value":"Securities Licensee licence (dealing in / advising on securities)","source":"https://www.labuanfsa.gov.my/clients/asset_120A5FB8-61B6-45E8-93F0-3F79F86455C8/contentms/img/documents/Legislation_and_Guidelines/Legislation/Principal_Legislation/Labuan-Financial-Services-and-Securities-Act-2010-Act-704.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"legal_basis":[{"value":"Labuan Financial Services and Securities Act 2010 (Act 704)","source":"https://www.labuanfsa.gov.my/clients/asset_120A5FB8-61B6-45E8-93F0-3F79F86455C8/contentms/img/documents/Legislation_and_Guidelines/Legislation/Principal_Legislation/Labuan-Financial-Services-and-Securities-Act-2010-Act-704.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["my-labuan-financial-services-and-securities-act-2010"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","investment-advice"],"passporting":"none","fees":{"annual":{"value":"USD 1,500","source":"https://www.labuanfsa.gov.my/clients/asset_120A5FB8-61B6-45E8-93F0-3F79F86455C8/contentms/img/documents/areas_of_business/Fee%20Schedule/2024/Annual%20Licence%20Fee%20Schedule_03012024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"For a Labuan bank/investment bank licensee, no participant holding 15% or more of paid-up capital may be changed without Labuan FSA's prior written approval, and a foreign Labuan company must promptly notify the Authority of any such change (LFSSA 2010 s.95(4)). The same 15%-of-paid-up-capital threshold and prior-approval requirement applies on a continuing basis to Labuan insurers (s.107(6)). Thresholds for other licence types, such as money broking and fund management, were not independently verified in this session.","source":"https://www.labuanfsa.gov.my/clients/asset_120A5FB8-61B6-45E8-93F0-3F79F86455C8/contentms/img/documents/Legislation_and_Guidelines/Legislation/Principal_Legislation/Labuan-Financial-Services-and-Securities-Act-2010-Act-704.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The Securities Licensee licence (dealing in / advising on securities) is issued by Labuan Financial Services Authority (Labuan FSA) under Labuan Financial Services and Securities Act 2010 (Act 704). Ownership changes need the regulator's approval before completion.","derived_from":"labuan-fsa","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/labuan-labuan/","jurisdiction_name":"Malaysia (Labuan)","region":"apac","regulator_name":"Labuan FSA","regulator_url":"/licensing/regulators/labuan-fsa/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--NL","family":"investment-firm","jurisdiction":"NL","regulator_id":"afm-netherlands","official_name":{"value":"Investment firm licence (Vergunning beleggingsonderneming) under Wft Article 2:96 and MiFID II","source":"https://www.afm.nl/en/sector/beleggingsondernemingen/vereisten-en-vergunningen","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"An investment firm requires a license from the AFM to provide investment services"},"legal_basis":[{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 600/2014 on markets in financial instruments (MiFIR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014R0600","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mifid2-2014-65","eu-mifir-600-2014","eu-aifmd-2011-61","eu-ucits-2009-65"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 200 per hour worked by the AFM, with a statutory maximum cap of EUR 100,000 for investment firm licences under Wft Art. 2:96 (Bbft 2019 Bijlage 2, code Wft.A1.18); MTF/OTF operation max EUR 100,000 (code Wft.A2.12); licence variation max EUR 50,000 (code Wft.A3.12); plus EUR 700 per person integrity and EUR 2,900 suitability vetting","source":"https://wetten.overheid.nl/BWBR0041647","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"vergunning voor het verlenen van beleggingsdiensten 200 per uur 100.000"},"annual":{"value":"EUR 0 base amount plus per-service modules under Regeling bekostiging financieel toezicht 2026 (e.g. reception/transmission of orders EUR 3,335, order execution EUR 10,001, portfolio management EUR 13,337, advice EUR 10,001) and a variable turnover-based component","source":"https://zoek.officielebekendmakingen.nl/stcrt-2026-20792.html","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"13 weeks from receipt of a complete application under Wft Article 1:102, extendable while the AFM requests supplementary information","source":"https://maxius.nl/wet-op-het-financieel-toezicht/artikel2:97","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"In the Netherlands' Twin Peaks supervisory architecture, change of control and qualifying holdings (gekwalificeerde deelnemingen) are strictly regulated. Any natural or legal person proposing to acquire, increase, or divest a qualifying holding—defined as a direct or indirect holding of at least 10%, 20%, 33% (or 30%), or 50% of voting rights or capital, or the ability to exercise significant influence/control—in an investment firm or fund manager governed by the Wft must obtain a prior Declaration of No Objection (Verklaring van geen bezwaar - VVGB) from De Nederlandsche Bank (DNB) under Wft Article 3:95, with DNB consulting the AFM on conduct-of-business aspects. For crypto-asset service providers (CASPs) under Regulation (EU) 2023/1114 (MiCA Article 83), proposed acquisitions of qualifying holdings require prior assessment and approval by the competent supervisor (AFM charges EUR 2,400 per assessment under Bbft 2019 code EU.D1.07). The statutory assessment period is 60 working days from written acknowledgement of receipt of a complete filing, interruptible once by up to 20 or 30 working days if additional information is required from the proposed acquirer.","source":"https://wetten.overheid.nl/BWBR0020368","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"verklaring van geen bezwaar"}},"answer":"The Investment firm licence (Vergunning beleggingsonderneming) under Wft Article 2:96 and MiFID II is issued by Authority for the Financial Markets (AFM) under Directive 2014/65/EU on markets in financial instruments (MiFID II). It can be passported to the other EU/EEA states by notification. The legal decision period is 13 weeks from receipt of a complete application under Wft Article 1:102, extendable while the AFM requests supplementary information. Ownership changes need the regulator's approval before completion.","derived_from":"afm-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/netherlands/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"AFM","regulator_url":"/licensing/regulators/afm-netherlands/","family_short":"IF","capital_eur":null,"months":3},{"id":"investment-firm--PL--brokerage","family":"investment-firm","jurisdiction":"PL","regulator_id":"knf-poland","official_name":{"value":"Brokerage House licence (dom maklerski)","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/kapitalowy/informacje_ogolne/dzialalnosc_maklerska/oplaty_koszty","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"zezwolenia na prowadzenie działalności maklerskiej przez dom maklerski"},"legal_basis":[{"value":"Act on Investment Funds and Management of Alternative Investment Funds of 27 May 2004","source":"https://dziennikustaw.gov.pl/DU/2023/681","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32011L0061","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["pl-investment-funds-act-2004","eu-mifid2-2014-65","eu-aifmd-2011-61"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 4,500 equivalent in PLN","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/kapitalowy/informacje_ogolne/dzialalnosc_maklerska/oplaty_koszty","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"równowartość w złotych 4 500 euro"},"annual":{"value":"Up to 0.5% of average 3-year revenue, min EUR 750","source":"https://www.knf.gov.pl/dla_rynku/wplaty_pokrycie_kosztow_nadzoru/rynek_kapitalowy/grupa_III","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"nie wyższym niż 0,5% podstawy"}},"timelines":{"statutory":{"value":"2 months from a complete application","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/kapitalowy/informacje_ogolne/dzialalnosc_maklerska/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"terminie 2 miesięcy od dnia złożenia kompletnego wniosku"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding needs prior notification to the KNF, which can object within 60 working days (extendable by up to 20 working days while it waits for information). For national payment institutions the thresholds are 20%, 30% and 50% (Payment Services Act, Art. 72a); for banks they are 10%, 20%, one third and 50% (Banking Law, Art. 25). Shares acquired in breach carry no voting rights.","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The Brokerage House licence (dom maklerski) is issued by Polish Financial Supervision Authority (KNF) under Act on Investment Funds and Management of Alternative Investment Funds of 27 May 2004. It can be passported to the other EU/EEA states by notification. The legal decision period is 2 months from a complete application. The application fee is EUR 4,500 equivalent in PLN. Ownership changes need the regulator's approval before completion.","derived_from":"knf-poland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/poland-brokerage/","jurisdiction_name":"Poland","region":"eu-eea","regulator_name":"KNF","regulator_url":"/licensing/regulators/knf-poland/","family_short":"IF","capital_eur":null,"months":2},{"id":"investment-firm--SC","family":"investment-firm","jurisdiction":"SC","regulator_id":"fsa-seychelles","official_name":{"value":"Securities Dealer's Licence (full or restricted)","source":"https://fsaseychelles.sc/regulated-entities/capital-markets","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Securities Act, 2007 (Act 8 of 2007), consolidated to 18 December 2024","source":"https://fsaseychelles.sc/legal-framework/legislations","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sc-securities-act-2007"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice"],"passporting":"none","fees":{"annual":{"value":"USD 6,000 fixed annual licence fee from 2026 (due 31 January each year); for 2025 the fee was pro-rated by grant quarter from USD 3,250 to USD 6,000","source":"https://fivecomply.com/fsa-seychelles-circular-no-1-of-2025-key-updates-on-securities-act-amendments-annual-fees-a-summary-by-fivecomply/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy"}},"change_of_control":{"approval_type":null,"summary":null},"answer":"The Securities Dealer's Licence (full or restricted) is issued by Financial Services Authority (Seychelles) (FSA) under Securities Act, 2007 (Act 8 of 2007), consolidated to 18 December 2024. Ownership changes need the regulator's approval before completion.","derived_from":"fsa-seychelles","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/seychelles/","jurisdiction_name":"Seychelles","region":"offshore","regulator_name":"FSA","regulator_url":"/licensing/regulators/fsa-seychelles/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--SG--cms","family":"investment-firm","jurisdiction":"SG","regulator_id":"mas-singapore","official_name":{"value":"Capital Markets Services (CMS) Licence","source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Capital Markets Services Licensee 1579"},"legal_basis":[{"value":"Securities and Futures Act 2001","source":"https://sso.agc.gov.sg/Act/SFA2001","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sg-securities-and-futures-act-2001"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice"],"passporting":"none","fees":{"application":{"value":"SGD 1,000","source":"https://sso.agc.gov.sg/Act/SFA2001","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"annual":{"value":"SGD 2,000 to SGD 4,000","source":"https://sso.agc.gov.sg/Act/SFA2001","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"timelines":{"statutory":{"value":"None stated in the Act","source":"https://sso.agc.gov.sg/Act/SFA2001","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"observed":{"value":"4 to 6 months for standard fund management (LFMC) or venture capital (VCFM), 6 to 9 months for broker-dealers","source":"https://www.mas.gov.sg/regulation/capital-markets/apply-for-licensing-or-registration-of-capital-market-entities/cms-licence","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 28 of the Payment Services Act 2019, prior written approval from MAS is required before a person becomes a 20% controller of a licensee (holding 20% or more of shares or voting power, or exercising effective control / power to determine policy). Under Section 97A of the Securities and Futures Act 2001 (as amended by Act 12 of 2024 effective 24 January 2025), prior written approval is required before obtaining effective control of a CMS licensee (20% share capital or voting power, or power to direct policy). Applications are submitted online via MAS-Tx (Form 3A for PSA, Form under SFA s.97A). Incurring control without MAS prior approval constitutes a criminal offence punishable by fine up to SGD 150,000 and/or imprisonment.","source":"https://sso.agc.gov.sg/Act/PSA2019","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Control of shareholding in licensee"}},"register_url":{"value":"https://eservices.mas.gov.sg/fid/institution","source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":1579,"source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Capital Markets Services Licensee 1579"},"answer":"The Capital Markets Services (CMS) Licence is issued by Monetary Authority of Singapore (MAS) under Securities and Futures Act 2001. The official register lists 1579 current holders. The legal decision period is None stated in the Act. The application fee is SGD 1,000. Ownership changes need the regulator's approval before completion.","derived_from":"mas-singapore","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/singapore-cms/","jurisdiction_name":"Singapore","region":"apac","regulator_name":"MAS","regulator_url":"/licensing/regulators/mas-singapore/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--SK","family":"investment-firm","jurisdiction":"SK","regulator_id":"nbs-slovakia","official_name":{"value":"Investment firm licence (povolenie na poskytovanie investičných služieb pre obchodníka s cennými papiermi)","source":"https://subjekty.nbs.sk/?c=1007","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Obchodníci s cennými papiermi"},"legal_basis":[{"value":"Act No 566/2001 on securities and investment services (and amending certain laws)","source":"https://www.slov-lex.sk/pravne-predpisy/SK/ZZ/2001/566/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2014/65/EU on markets in financial instruments (MiFID II)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sk-act-566-2001","eu-mifid2-2014-65"],"activity_ids":["order-reception-transmission","order-execution","dealing-own-account","portfolio-management","investment-advice","underwriting-firm-commitment","placing-without-commitment","operating-mtf","operating-otf","safekeeping-financial-instruments","cfd-fx-brokerage"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_approval","summary":null},"answer":"The Investment firm licence (povolenie na poskytovanie investičných služieb pre obchodníka s cennými papiermi) is issued by National Bank of Slovakia (NBS) under Act No 566/2001 on securities and investment services (and amending certain laws). It can be passported to the other EU/EEA states by notification. Ownership changes need the regulator's approval before completion.","derived_from":"nbs-slovakia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/slovakia/","jurisdiction_name":"Slovakia","region":"eu-eea","regulator_name":"NBS","regulator_url":"/licensing/regulators/nbs-slovakia/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--VG","family":"investment-firm","jurisdiction":"VG","regulator_id":"bvi-fsc","official_name":{"value":"Investment Business Licence (Categories 1-4: dealing, managing, advising, custody/administration of investments)","source":"https://www.mondaq.com/wealth-asset-management/124394/bvi-securities-investment-business-act-2010-siba","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Securities and Investment Business Act, 2010 (Revised Edition)","source":"https://www.bvifsc.vg/sites/default/files/securities_and_investment_business_act.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["vg-securities-and-investment-business-act-2010"],"activity_ids":["crypto-custody"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"For SIBA investment business licensees, acquiring, disposing of, or issuing shares that create or change a 'significant interest' - defined as 10% or more of voting rights, distributions, or the power to appoint/remove directors - needs prior written FSC consent; licensees separately notify the FSC within 14 days of certain interest transfers. For BVI-recognised mutual funds (not licensees), there is no ownership threshold trigger; instead the fund gives 7 days' prior notice of a new functionary (manager, administrator, custodian) and reports director/auditor/authorised-representative or offering-document changes within 14 days, per the Mutual Funds Regulations 2010 and the Incubator and Approved Funds Regulations.","source":"https://www.ogier.com/news-and-insights/insights/ongoing-regulatory-obligations-for-investment-business-licensees/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"transferring significant interests (10% stake or ability to appoint/remove directors)"}},"answer":"The Investment Business Licence (Categories 1-4: dealing, managing, advising, custody/administration of investments) is issued by British Virgin Islands Financial Services Commission (BVI FSC) under Securities and Investment Business Act, 2010 (Revised Edition). Ownership changes need the regulator's approval before completion.","derived_from":"bvi-fsc","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/bvi/","jurisdiction_name":"British Virgin Islands","region":"offshore","regulator_name":"BVI FSC","regulator_url":"/licensing/regulators/bvi-fsc/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--ZA--fsp-cat1","family":"investment-firm","jurisdiction":"ZA","regulator_id":"fsca-south-africa","official_name":{"value":"Financial Services Provider licence - Category I (advice and/or intermediary services, non-discretionary, incl. crypto assets)","source":"https://www.fsca.co.za/New-Financial-Service-Provider/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"legal_basis":[{"value":"Financial Advisory and Intermediary Services Act 37 of 2002","source":"https://www.gov.za/documents/financial-advisory-and-intermediary-services-act","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"Financial Markets Act 19 of 2012","source":"https://www.gov.za/documents/financial-markets-act","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["za-fais-act-2002","za-financial-markets-act-2012"],"activity_ids":["investment-advice","order-reception-transmission"],"passporting":"none","fees":{"application":{"value":"R2,697","source":"https://dealable24.com/licenses/south-africa-fsp-license","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude","quote":"R2,697 (approximately USD 153)"},"annual":{"value":"levy per representative/key individual of R520-R551.20 for 2024/25 (Cat I/IV Long-Term Insurance subcategory A only: R250), plus other components; FSCA does not publish one flat annual fee","source":"http://ctb.co.za/2024/09/02/levies-for-financial-services-providers-fsps-2024-2025/","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"observed":{"value":"reported 8-12 weeks in practice, as the FSCA Licensing Committee meets once a month to approve licences","source":"https://www.fsca.co.za/LR-FAIS-New-Applications/","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"notification","summary":{"value":"A 'significant owner' under FSR Act s157 is anyone able to control or materially influence an FSP's business or strategy, presumed at the power to appoint 15% of the governing body or holding a qualifying stake. For an ordinary FSP (not a bank, insurer, market infrastructure or CIS manager), FSR Act s158 prior-approval does not apply; the FSP must instead notify the FSCA of significant ownership. A new key individual, however, needs FSCA fit-and-proper approval (FAIS s8(4)(b), form FSP4D) before acting, and non-compliance must be notified within 30 days.","source":"https://www.moonstone.co.za/honesty-and-integrity-requirement-now-applies-to-the-significant-owners-of-fsps/","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude","quote":"a person is a significant owner... can control or materially influence the institution's business or"}},"answer":"The Financial Services Provider licence - Category I (advice and/or intermediary services, non-discretionary, incl. crypto assets) is issued by Financial Sector Conduct Authority (FSCA) under Financial Advisory and Intermediary Services Act 37 of 2002. The application fee is R2,697. Ownership changes need the regulator's approval before completion.","derived_from":"fsca-south-africa","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/south-africa-fsp-cat1/","jurisdiction_name":"South Africa","region":"africa","regulator_name":"FSCA","regulator_url":"/licensing/regulators/fsca-south-africa/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--ZA--fsp-cat2","family":"investment-firm","jurisdiction":"ZA","regulator_id":"fsca-south-africa","official_name":{"value":"Financial Services Provider licence - Category II (discretionary FSP)","source":"https://www.fsca.co.za/New-Financial-Service-Provider/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"legal_basis":[{"value":"Financial Advisory and Intermediary Services Act 37 of 2002","source":"https://www.gov.za/documents/financial-advisory-and-intermediary-services-act","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"Financial Markets Act 19 of 2012","source":"https://www.gov.za/documents/financial-markets-act","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["za-fais-act-2002","za-financial-markets-act-2012"],"activity_ids":["portfolio-management","investment-advice"],"passporting":"none","fees":{"application":{"value":"R16,313","source":"https://dealable24.com/licenses/south-africa-fsp-license","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude","quote":"R16,313 (approximately USD 923)"}},"change_of_control":{"approval_type":"notification","summary":{"value":"A 'significant owner' under FSR Act s157 is anyone able to control or materially influence an FSP's business or strategy, presumed at the power to appoint 15% of the governing body or holding a qualifying stake. For an ordinary FSP (not a bank, insurer, market infrastructure or CIS manager), FSR Act s158 prior-approval does not apply; the FSP must instead notify the FSCA of significant ownership. A new key individual, however, needs FSCA fit-and-proper approval (FAIS s8(4)(b), form FSP4D) before acting, and non-compliance must be notified within 30 days.","source":"https://www.moonstone.co.za/honesty-and-integrity-requirement-now-applies-to-the-significant-owners-of-fsps/","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude","quote":"a person is a significant owner... can control or materially influence the institution's business or"}},"answer":"The Financial Services Provider licence - Category II (discretionary FSP) is issued by Financial Sector Conduct Authority (FSCA) under Financial Advisory and Intermediary Services Act 37 of 2002. The application fee is R16,313. Ownership changes need the regulator's approval before completion.","derived_from":"fsca-south-africa","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/south-africa-fsp-cat2/","jurisdiction_name":"South Africa","region":"africa","regulator_name":"FSCA","regulator_url":"/licensing/regulators/fsca-south-africa/","family_short":"IF","capital_eur":null,"months":null},{"id":"investment-firm--ZA--odp","family":"investment-firm","jurisdiction":"ZA","regulator_id":"fsca-south-africa","official_name":{"value":"Over-the-Counter Derivative Provider (ODP) authorisation under the Financial Markets Act","source":"https://www.fanews.co.za/article/investments/8/forex/1440/odp-licensing-and-cfd-trading-industry-in-south-africa/31757","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"},"legal_basis":[{"value":"Financial Advisory and Intermediary Services Act 37 of 2002","source":"https://www.gov.za/documents/financial-advisory-and-intermediary-services-act","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"Financial Markets Act 19 of 2012","source":"https://www.gov.za/documents/financial-markets-act","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["za-fais-act-2002","za-financial-markets-act-2012"],"activity_ids":["dealing-own-account","order-execution"],"passporting":"none","change_of_control":{"approval_type":"notification","summary":{"value":"A 'significant owner' under FSR Act s157 is anyone able to control or materially influence an FSP's business or strategy, presumed at the power to appoint 15% of the governing body or holding a qualifying stake. For an ordinary FSP (not a bank, insurer, market infrastructure or CIS manager), FSR Act s158 prior-approval does not apply; the FSP must instead notify the FSCA of significant ownership. A new key individual, however, needs FSCA fit-and-proper approval (FAIS s8(4)(b), form FSP4D) before acting, and non-compliance must be notified within 30 days.","source":"https://www.moonstone.co.za/honesty-and-integrity-requirement-now-applies-to-the-significant-owners-of-fsps/","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude","quote":"a person is a significant owner... can control or materially influence the institution's business or"}},"answer":"The Over-the-Counter Derivative Provider (ODP) authorisation under the Financial Markets Act is issued by Financial Sector Conduct Authority (FSCA) under Financial Advisory and Intermediary Services Act 37 of 2002. Ownership changes need the regulator's approval before completion.","derived_from":"fsca-south-africa","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/investment-firm/south-africa-odp/","jurisdiction_name":"South Africa","region":"africa","regulator_name":"FSCA","regulator_url":"/licensing/regulators/fsca-south-africa/","family_short":"IF","capital_eur":null,"months":null},{"id":"lending--AU","family":"lending","jurisdiction":"AU","regulator_id":"asic-australia","official_name":{"value":"Australian credit licence (ACL)","source":"https://www.legislation.gov.au/C2009A00134/latest","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"National Consumer Credit Protection Act 2009","source":"https://www.legislation.gov.au/C2009A00134/latest","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["au-national-consumer-credit-protection-act-2009"],"activity_ids":["credit-granting","consumer-credit"],"passporting":"none","change_of_control":{"approval_type":"notification","summary":{"value":"Change of control is triggered when a person gains or ceases capacity to cast, or control the casting of, more than 50% of votes at a general meeting, or holds more than half the issued share capital, of an AFS licensee (Corporations Act s.910B). The licensee must notify ASIC of the change, via the Regulatory Portal, no later than 30 business days after the change occurs (s.912DA).","source":"https://www.asic.gov.au/for-finance-professionals/afs-licensees/changing-details-and-lodging-afs-forms/change-in-control-of-afs-licensee","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"no later than the end of 30 business days after the day"}},"answer":"The Australian credit licence (ACL) is issued by Australian Securities and Investments Commission (ASIC) under National Consumer Credit Protection Act 2009. It covers lending and consumer credit. It is valid in Australia only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.","derived_from":"asic-australia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/australia/","jurisdiction_name":"Australia","region":"apac","regulator_name":"ASIC","regulator_url":"/licensing/regulators/asic-australia/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--CY--crowdfunding","family":"lending","jurisdiction":"CY","regulator_id":"cysec-cyprus","official_name":{"value":"European Crowdfunding Service Provider authorisation","source":"https://www.cysec.gov.cy/en-GB/entities/CROWDFUNDING-SERVICE-PROVIDERS-(CSP)/%CE%9C%CE%97%CE%A4%CE%A1%CE%A9%CE%9F-%CE%A0%CE%A5%CE%A3%CE%A7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"CSP Register"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person proposing to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% in a CIF, AIFM, or CASP, or to achieve control making it a subsidiary, must submit prior written notification to CySEC under Sections 12 and 13 of Law 87(I)/2017 and MiCA Article 83. CySEC acknowledges receipt within two working days and has a statutory assessment period of 60 working days to oppose the acquisition based on reputation, financial soundness, AML risks, and fit-and-proper criteria. The assessment period may be interrupted once by up to 20 working days (or 30 working days for non-EU entities) to request additional information. If CySEC does not object in writing before expiry, the transaction is deemed approved. Closing without CySEC non-opposition suspends voting rights and risks statutory penalties.","source":"https://www.cylaw.org/nomoi/enop/non-ind/2017_1_87/full.html","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.cysec.gov.cy/en-GB/entities/CROWDFUNDING-SERVICE-PROVIDERS-(CSP)/%CE%9C%CE%97%CE%A4%CE%A1%CE%A9%CE%9F-%CE%A0%CE%A5%CE%A3%CE%A7/","source":"https://www.cysec.gov.cy/en-GB/entities/CROWDFUNDING-SERVICE-PROVIDERS-(CSP)/%CE%9C%CE%97%CE%A4%CE%A1%CE%A9%CE%9F-%CE%A0%CE%A5%CE%A3%CE%A7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":2,"source":"https://www.cysec.gov.cy/en-GB/entities/CROWDFUNDING-SERVICE-PROVIDERS-(CSP)/%CE%9C%CE%97%CE%A4%CE%A1%CE%A9%CE%9F-%CE%A0%CE%A5%CE%A3%CE%A7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"CSP Register"},"answer":"The European Crowdfunding Service Provider authorisation is issued by Cyprus Securities and Exchange Commission (CySEC) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The official register lists 2 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"cysec-cyprus","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/cyprus-crowdfunding/","jurisdiction_name":"Cyprus","region":"eu-eea","regulator_name":"CySEC","regulator_url":"/licensing/regulators/cysec-cyprus/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--CZ--consumer-credit","family":"lending","jurisdiction":"CZ","regulator_id":"cnb-czechia","official_name":{"value":"Non-bank Consumer Credit Provider licence (oprávnění k činnosti nebankovního poskytovatele spotřebitelského úvěru)","source":"https://www.cnb.cz/en/supervision-financial-market/conduct-of-supervision/licensing-and-approval-proceedings/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensing and approval proceedings under the Consumer Credit Act"},"legal_basis":[{"value":"Directive (EU) 2023/2225 of the European Parliament and of the Council of 18 October 2023 on credit agreements for consumers","source":"https://eur-lex.europa.eu/eli/dir/2023/2225/oj","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"Act No. 257/2016 Coll. on Consumer Credit","source":"https://www.zakonyprolidi.cz/cs/2016-257","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ccd2-2023-2225","cz-consumer-credit-act-2016","eu-ecspr-2020-1503"],"activity_ids":["credit-granting","consumer-credit"],"passporting":"none","fees":{"application":{"value":"CZK 50,000 (plus CZK 25,000 extension fee)","source":"https://www.zakonyprolidi.cz/cs/2004-634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"nebankovního poskytovatele spotřebitelského úvěru Kč 50000"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance.","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Osoba nebo osoby jednající ve shodě oznámí předem České národní bance svůj záměr"}},"register_url":{"value":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":73,"source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Non-bank consumer credit providers 81 76 73"},"answer":"The Non-bank Consumer Credit Provider licence (oprávnění k činnosti nebankovního poskytovatele spotřebitelského úvěru) is issued by Czech National Bank (CNB) under Act No. 257/2016 Coll. on Consumer Credit. It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 73 current holders. The application fee is CZK 50,000 (plus CZK 25,000 extension fee). Ownership changes need the regulator's approval before completion.","derived_from":"cnb-czechia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/czech-republic-consumer-credit/","jurisdiction_name":"Czech Republic","region":"eu-eea","regulator_name":"CNB","regulator_url":"/licensing/regulators/cnb-czechia/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--CZ--crowdfunding","family":"lending","jurisdiction":"CZ","regulator_id":"cnb-czechia","official_name":{"value":"Crowdfunding Service Provider authorization under ECSPR (povolení k činnosti poskytovatele služeb skupinového financování)","source":"https://www.cnb.cz/en/supervision-financial-market/conduct-of-supervision/licensing-and-approval-proceedings/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Crowdfunding service providers"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Act No. 257/2016 Coll. on Consumer Credit","source":"https://www.zakonyprolidi.cz/cs/2016-257","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503","cz-consumer-credit-act-2016"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","fees":{"application":{"value":"CZK 20,000","source":"https://www.zakonyprolidi.cz/cs/2004-634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"poskytovatele služeb skupinového financování Kč 20000"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within three months of receipt of the complete application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance.","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Osoba nebo osoby jednající ve shodě oznámí předem České národní bance svůj záměr"}},"register_url":{"value":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":5,"source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Crowdfunding service providers 0 3 5"},"answer":"The Crowdfunding Service Provider authorization under ECSPR (povolení k činnosti poskytovatele služeb skupinového financování) is issued by Czech National Bank (CNB) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The official register lists 5 current holders. The legal decision period is 3 months from receipt of a complete application. The application fee is CZK 20,000. Ownership changes need the regulator's approval before completion.","derived_from":"cnb-czechia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/czech-republic-crowdfunding/","jurisdiction_name":"Czech Republic","region":"eu-eea","regulator_name":"CNB","regulator_url":"/licensing/regulators/cnb-czechia/","family_short":"Credit","capital_eur":null,"months":3},{"id":"lending--EE--credit-servicer","family":"lending","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Operating licence as a credit servicer","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2203]=2203","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Credit servicers in Estonia"},"legal_basis":[{"value":"Credit Servicers and Credit Purchasers Act, § 6","source":"https://www.riigiteataja.ee/en/eli/530122024003/consolide","source_type":"primary","as_of":"2026-09-24","checked_by":"claude","quote":"To operate as a credit servicer, an activity licence is required."}],"law_ids":[],"activity_ids":["credit-granting","consumer-credit"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/supervised-entities?closed=1&st[2203]=2203","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2203]=2203","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":4,"source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2203]=2203","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Credit servicers in Estonia"},"answer":"The Operating licence as a credit servicer is issued by Finantsinspektsioon (FI) under the Credit Servicers and Credit Purchasers Act. It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 4 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/estonia-credit-servicer/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--EE--creditor","family":"lending","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Operating licence as a creditor","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2197]=2197","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed creditors in Estonia"},"legal_basis":[{"value":"Creditors and Credit Intermediaries Act (KAVS), § 10(1)","source":"https://www.riigiteataja.ee/akt/KAVS","source_type":"primary","as_of":"2026-09-24","checked_by":"claude","quote":"Krediidiandjana tegutsemiseks peab olema tegevusluba."},{"value":"Directive (EU) 2023/2225 of the European Parliament and of the Council of 18 October 2023 on credit agreements for consumers","source":"https://eur-lex.europa.eu/eli/dir/2023/2225/oj","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["eu-ccd2-2023-2225"],"activity_ids":["credit-granting","consumer-credit"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/supervised-entities?closed=1&st[2197]=2197","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2197]=2197","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":31,"source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2197]=2197","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed creditors in Estonia"},"answer":"The Operating licence as a creditor is issued by Finantsinspektsioon (FI) under the Creditors and Credit Intermediaries Act (KAVS). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 31 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/estonia-creditor/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--EE--crowdfunding","family":"lending","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Authorisation as a crowdfunding service provider under ECSPR","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2092]=2092","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Estonian crowdfunding service providers"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for business","source":"https://eur-lex.europa.eu/eli/reg/2020/1503/oj","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/supervised-entities?closed=1&st[2092]=2092","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2092]=2092","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":1,"source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2092]=2092","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Estateguru OÜ"},"answer":"The Authorisation as a crowdfunding service provider under ECSPR is issued by Finantsinspektsioon (FI) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The official register lists 1 current holder. Ownership changes need the regulator's approval before completion.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/estonia-crowdfunding/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--EE--financial-institution","family":"lending","jurisdiction":"EE","regulator_id":"fiu-estonia","official_name":{"value":"Authorisation for operating as a financial institution (Tegevusluba finantseerimisasutusena tegutsemiseks)","source":"https://fiu.ee/en/authorisation-economic-activity/authorisation-economic-activity","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"operating as a financial institution"},"legal_basis":[{"value":"Money Laundering and Terrorist Financing Prevention Act (Rahapesu ja terrorismi rahastamise tõkestamise seadus)","source":"https://www.riigiteataja.ee/en/eli/ee/524032022001/consolide/current","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AMLD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L0849","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2024/1624 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AMLR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32024R1624","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ee-money-laundering-and-terrorist-financing-prevention-act","eu-amld-2015-849","eu-amlr-2024-1624"],"activity_ids":["credit-granting","consumer-credit"],"passporting":"none","fees":{"application":{"value":"EUR 3,300","source":"https://fiu.ee/en/authorisation-economic-activity/state-fee","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"3,300 euros for operating as a financial institution"},"annual":{"value":"EUR 0 (no annual supervisory fee; no state fee applies for licence amendment)","source":"https://fiu.ee/en/authorisation-economic-activity/state-fee","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No state fee will apply for the review of an application for amendment"}},"timelines":{"statutory":{"value":"60 working days as of the date of submission of the application","source":"https://fiu.ee/en/authorisation-economic-activity/process-application","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 60 working days as of the date of submission of the application"}},"change_of_control":{"approval_type":"notification","summary":{"value":"Under Section 30 of the General Part of the Economic Activities Code Act and Section 70 of the MLTFPA, licensees must notify changes in beneficial owners (>25% shareholding or control), management board members, procurators, or compliance officers via the Register of Economic Activities (MTR). The FIU conducts fit and proper checks on new owners and managers to ensure impeccable reputation and absence of criminal convictions; failure to satisfy requirements initiates licence revocation proceedings under MLTFPA Section 76.","source":"https://fiu.ee/en/authorisation-economic-activity/process-application","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Pursuant to subsection 30 (6) of the General Part of the Economic Activities Code Act"}},"answer":"The Authorisation for operating as a financial institution (Tegevusluba finantseerimisasutusena tegutsemiseks) is issued by Estonian Financial Intelligence Unit (FIU) under Money Laundering and Terrorist Financing Prevention Act (Rahapesu ja terrorismi rahastamise tõkestamise seadus). It is a national licence: it does not give a passport to other EU/EEA states. The legal decision period is 60 working days as of the date of submission of the application. The application fee is EUR 3,300.","derived_from":"fiu-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/estonia-financial-institution/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FIU","regulator_url":"/licensing/regulators/fiu-estonia/","family_short":"Credit","capital_eur":null,"months":2.8},{"id":"lending--EE--intermediary","family":"lending","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Operating licence as a credit intermediary","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2199]=2199","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed credit intermediaries in Estonia"},"legal_basis":[{"value":"Creditors and Credit Intermediaries Act (KAVS), § 10(2)","source":"https://www.riigiteataja.ee/akt/KAVS","source_type":"primary","as_of":"2026-09-24","checked_by":"claude","quote":"Krediidivahendajana tegutsemiseks peab juriidilisel või füüsilisel isikul olema tegevusluba"},{"value":"Directive (EU) 2023/2225 of the European Parliament and of the Council of 18 October 2023 on credit agreements for consumers","source":"https://eur-lex.europa.eu/eli/dir/2023/2225/oj","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["eu-ccd2-2023-2225"],"activity_ids":["credit-granting","consumer-credit"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/supervised-entities?closed=1&st[2199]=2199","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2199]=2199","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":7,"source":"https://www.fi.ee/en/supervised-entities?closed=1&st[2199]=2199","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed credit intermediaries in Estonia"},"answer":"The Operating licence as a credit intermediary is issued by Finantsinspektsioon (FI) under the Creditors and Credit Intermediaries Act (KAVS). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 7 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/estonia-intermediary/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--ES--crowdfunding","family":"lending","jurisdiction":"ES","regulator_id":"cnmv-spain","official_name":{"value":"Proveedor de servicios de financiación participativa / European crowdfunding service provider authorization","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"crowdfunding service providers for business"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person intending to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or to gain control of an ESI, EAF, SGIIC, or CASP, must submit prior written notification to the CNMV under Articles 152-154 of Ley 6/2023 (LMVSI) and MiCA Art. 83. The CNMV assesses acquirer suitability, reputation, financial soundness, and AML/CFT risks within a statutory 60 working days assessment period (interruptible once by up to 20 working days for supplementary filings). Unauthorised acquisitions automatically forfeit voting rights and may trigger administrative intervention or statutory sanctions (Art. 156 LMVSI).","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2023-7053","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"adquirir, directa o indirectamente, una participación significativa en una empresa de servicios de inversión"}},"register_url":{"value":"https://www.cnmv.es/portal/Consultas/Servicios-Financiacion-Participativa/Listado-Proveedores.aspx","source":"https://www.cnmv.es/portal/Consultas/Servicios-Financiacion-Participativa/Listado-Proveedores.aspx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":27,"source":"https://www.cnmv.es/portal/Consultas/Servicios-Financiacion-Participativa/Listado-Proveedores.aspx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"URBIX, PSFP, S.L."},"answer":"The Proveedor de servicios de financiación participativa / European crowdfunding service provider authorization is issued by National Securities Market Commission (CNMV) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The official register lists 27 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"cnmv-spain","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/spain-crowdfunding/","jurisdiction_name":"Spain","region":"eu-eea","regulator_name":"CNMV","regulator_url":"/licensing/regulators/cnmv-spain/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--ES--efc","family":"lending","jurisdiction":"ES","regulator_id":"banco-de-espana","official_name":{"value":"Establecimiento financiero de crédito (EFC) / Specialized lending credit institution authorization","source":"https://www.boe.es/buscar/act.php?id=BOE-A-2015-4607","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Establecimientos Financieros de Crédito"},"legal_basis":[{"value":"Directive 2013/36/EU on access to the activity of credit institutions and prudential supervision (CRD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013R0575","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-crd-2013-36","eu-crr-575-2013"],"activity_ids":["credit-granting","consumer-credit"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person intending to acquire or increase, directly or indirectly, a qualifying holding reaching or exceeding 10%, 20%, 30%, or 50% of the share capital or voting rights, or to acquire control of an electronic money institution, payment institution, or credit financial establishment, must submit prior notification to Banco de España under Procedure ES_BDE_C056_P247 (or ES_BDE_C056_P114 for banks). Banco de España assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory maximum period of 60 working days from written acknowledgement of receipt. Closing without non-opposition suspends voting rights and triggers administrative penalties under Ley 10/2014 and Real Decreto 736/2019.","source":"https://sedeelectronica.bde.es/sede/es/tramites/adquisicion-participaciones-significativas-establecimientos-p247.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"60 días hábiles, a contar desde la fecha en que el Banco de España haya"}},"register_url":{"value":"https://www.bde.es/f/webbe/SGE/regis/ficheros/es/Registro_Entidades.xlsx","source":"https://www.bde.es/f/webbe/SGE/regis/ficheros/es/Registro_Entidades.xlsx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":22,"source":"https://www.bde.es/f/webbe/SGE/regis/ficheros/es/Registro_Entidades.xlsx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Establecimiento financiero de crédito"},"answer":"The Establecimiento financiero de crédito (EFC) / Specialized lending credit institution authorization is issued by Bank of Spain (BdE) under Directive 2013/36/EU on access to the activity of credit institutions and prudential supervision (CRD IV). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 22 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"banco-de-espana","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/spain-efc/","jurisdiction_name":"Spain","region":"eu-eea","regulator_name":"BdE","regulator_url":"/licensing/regulators/banco-de-espana/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--FR--crowdfunding","family":"lending","jurisdiction":"FR","regulator_id":"amf-france","official_name":{"value":"Prestataire de services de financement participatif (PSFP) / European crowdfunding service provider authorization","source":"https://www.amf-france.org/fr/espace-epargnants/proteger-son-epargne/listes-blanches?conditions%5Bcategorie%5D=624","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Retrouvez les listes blanches de l'AMF (PSCA, Biens divers, PSFP)"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","fees":{"annual":{"value":"EUR 2,550 annual supervisory contribution (Article D. 621-27 II 12°)","source":"https://www.amf-france.org/sites/institutionnel/files/private/2026-01/2025-guide-des-contributions-fr_modifie-coquille-.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"La contribution due par les personnes mentionnées au l du 4° du II de l'article"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application under Regulation (EU) 2020/1503 Art. 12(8)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within three months of receipt of the complete application"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding needs the AMF's prior approval. For portfolio management companies (SGP) the thresholds are 10%, 20%, 33.33% and 50% of capital or voting rights (Code monétaire et financier, Article L. 532-9-1). For crypto-asset service providers MiCA Articles 83 and 84 apply: the thresholds are 20%, 30% and 50%, and the AMF assesses the acquirer within 60 working days of a complete notification.","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The Prestataire de services de financement participatif (PSFP) / European crowdfunding service provider authorization is issued by Financial Markets Authority (AMF) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The legal decision period is 3 months from receipt of a complete application under Regulation (EU) 2020/1503 Art. 12(8). Ownership changes need the regulator's approval before completion.","derived_from":"amf-france","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/france-crowdfunding/","jurisdiction_name":"France","region":"eu-eea","regulator_name":"AMF","regulator_url":"/licensing/regulators/amf-france/","family_short":"Credit","capital_eur":null,"months":3},{"id":"lending--GB--consumer","family":"lending","jurisdiction":"GB","regulator_id":"fca-uk","official_name":{"value":"Consumer Credit Full Permission Authorisation (Part 4A FSMA)","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Full permission application The fee is either Category 3, 5 or 6"},"legal_basis":[{"value":"Financial Services and Markets Act 2000 (c. 8)","source":"https://www.legislation.gov.uk/ukpga/2000/8/contents","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["gb-fsma-2000"],"activity_ids":["credit-granting","consumer-credit"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested.","source":"https://www.fca.org.uk/firms/change-control/control-thresholds-bands","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Thresholds for control of Directive firms are defined in the following bands: 10% or more"}},"answer":"The Consumer Credit Full Permission Authorisation (Part 4A FSMA) is issued by Financial Conduct Authority (FCA) under Financial Services and Markets Act 2000 (c. 8). It covers lending and consumer credit. It is valid in United Kingdom only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.","derived_from":"fca-uk","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/united-kingdom-consumer/","jurisdiction_name":"United Kingdom","region":"europe-non-eu","regulator_name":"FCA","regulator_url":"/licensing/regulators/fca-uk/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--IE--crowdfunding","family":"lending","jurisdiction":"IE","regulator_id":"central-bank-of-ireland","official_name":{"value":"Crowdfunding Service Provider Authorisation (ECSPR)","source":"https://registers.centralbank.ie/DownloadsPage.aspx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"authorised by the Central Bank of Ireland pursuant to Article 12"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.","source":"https://www.centralbank.ie/regulation/industry-market-sectors/payment-institutions/notification-process-for-proposed-acquisitions-of-qualifying-holdings","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"complete its assessment of the Notification within 60 working days"}},"register_url":{"value":"https://registers.centralbank.ie/DownloadsPage.aspx","source":"https://registers.centralbank.ie/DownloadsPage.aspx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":7,"source":"https://registers.centralbank.ie/DownloadsPage.aspx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Register of Crowdfunding Service Providers as at 23 Sep 2026"},"answer":"The Crowdfunding Service Provider Authorisation (ECSPR) is issued by Central Bank of Ireland (CBI) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The official register lists 7 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"central-bank-of-ireland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/ireland-crowdfunding/","jurisdiction_name":"Ireland","region":"eu-eea","regulator_name":"CBI","regulator_url":"/licensing/regulators/central-bank-of-ireland/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--IT--crowdfunding","family":"lending","jurisdiction":"IT","regulator_id":"consob-italy","official_name":{"value":"Fornitore di servizi di crowdfunding / European crowdfunding service provider authorization (ECSPR)","source":"https://www.consob.it/web/consob-and-its-activities/crowdfunding-platform-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Regulation (EU) No. 1503/2020 on European crowdfunding service providers for business"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","fees":{"annual":{"value":"EUR 10,375.00 for investment-based crowdfunding service, EUR 10,375.00 for lending-based crowdfunding service (+ EUR 10,375.00 if managing loan portfolios)","source":"https://www.consob.it/documents/d/asset-library-1912910/d23799_en-1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Investment-based crowdfunding service: €10,375.00; Lending-based crowdfunding service: €10,375.00."}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application (following a 25 working-day completeness review)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Within three months of receipt of a complete application, the competent authority shall assess"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Article 15 of Legislative Decree 58/1998 (TUF) and Articles 83-84 of Regulation (EU) 2023/1114 (MiCA) as implemented by Legislative Decree 129/2024, any natural or legal person intending to acquire or dispose of a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining/losing control of a SIM or CASP, must give prior written notification. For SIMs, notification is submitted to Banca d'Italia (which conducts the prudential assessment, consulting CONSOB) with copy to CONSOB; for CASPs, competent authorities conduct the suitability and AML review within a 60 working-day assessment window (interruptible once by up to 20 working days). Unauthorised acquisitions automatically forfeit voting rights and risk statutory sanctions.","source":"https://www.gazzettaufficiale.it/eli/id/2024/09/13/24G00147/sg","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Entrata in vigore del provvedimento: 14/09/2024"}},"answer":"The Fornitore di servizi di crowdfunding / European crowdfunding service provider authorization (ECSPR) is issued by National Commission for Companies and the Stock Exchange (CONSOB) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The legal decision period is 3 months from receipt of a complete application (following a 25 working-day completeness review). Ownership changes need the regulator's approval before completion.","derived_from":"consob-italy","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/italy-crowdfunding/","jurisdiction_name":"Italy","region":"eu-eea","regulator_name":"CONSOB","regulator_url":"/licensing/regulators/consob-italy/","family_short":"Credit","capital_eur":null,"months":3},{"id":"lending--LT--crowdfunding","family":"lending","jurisdiction":"LT","regulator_id":"bank-of-lithuania","official_name":{"value":"Crowdfunding service provider authorization","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=124&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Crowdfunding service provider"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or becoming controlled, requires prior written notification to the Bank of Lithuania. The supervisory authority assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory 60 working days period (interruptible once by up to 20 working days for additional information) under Law on Banks Arts 24-25, applied mutatis mutandis to EMIs (EMI Law Art. 17) and PIs (PI Law Art. 10).","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person ... who have taken a decision on the acquisition of a qualifying holding"}},"register_url":{"value":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=124&market=1","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=124&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":17,"source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=124&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"All results 17"},"answer":"The Crowdfunding service provider authorization is issued by Bank of Lithuania (LB) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The official register lists 17 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"bank-of-lithuania","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/lithuania-crowdfunding/","jurisdiction_name":"Lithuania","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/bank-of-lithuania/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--LT--p2p","family":"lending","jurisdiction":"LT","regulator_id":"bank-of-lithuania","official_name":{"value":"Peer-to-peer lending platform operator","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=26&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Peer-to-peer lending platforms"},"law_ids":[],"activity_ids":["credit-granting","crowdfunding"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or becoming controlled, requires prior written notification to the Bank of Lithuania. The supervisory authority assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory 60 working days period (interruptible once by up to 20 working days for additional information) under Law on Banks Arts 24-25, applied mutatis mutandis to EMIs (EMI Law Art. 17) and PIs (PI Law Art. 10).","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person ... who have taken a decision on the acquisition of a qualifying holding"}},"register_url":{"value":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=26&market=1","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=26&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":5,"source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=26&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"All results 5"},"answer":"Peer-to-peer lending platform operator status is granted by Bank of Lithuania (LB), which keeps the public list of operators. It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 5 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"bank-of-lithuania","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","open_questions":["Legal basis: the Lithuanian Law on Consumer Credit is reported to govern P2P platform operators; its current consolidated text was not opened (Bank of Lithuania page behind a bot check, e-seimas English translation dates from 2014)."],"legal_basis":[{"value":"Law on Consumer Credit (No XI-1253)","source":"https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/b6921352bf7a11e5ac22dba8705b325b","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"type":"licence","url":"/licensing/licences/lending/lithuania-p2p/","jurisdiction_name":"Lithuania","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/bank-of-lithuania/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--LU--crowdfunding","family":"lending","jurisdiction":"LU","regulator_id":"cssf-luxembourg","official_name":{"value":"Crowdfunding service provider authorisation","source":"https://www.cssf.lu/en/crowdfunding-service-providers/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Authorisation procedure for crowdfunding service providers"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 30,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A single lump sum of EUR 30,000 for the examination of each authorisation request"},"annual":{"value":"EUR 10,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"An annual lump sum composed of a fixed amount of EUR 10,000"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or causing an entity to become a subsidiary, requires prior written notification to the CSSF. The CSSF conducts a prudential assessment of acquirer suitability, reputation, financial soundness, and AML risk within 60 working days (interruptible once by up to 20 working days, or 30 working days for non-EU acquirers) under Articles 18 and 18-1 of the Law of 5 April 1993, Article 12 of the Law of 10 November 2009, Article 83 of Regulation (EU) 2023/1114 (MiCA), and Circular CSSF 17/669 adopting the Joint ESA Guidelines.","source":"https://www.cssf.lu/en/Document/circular-cssf-17-669/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Adoption of the Joint Guidelines of ESMA, EBA and EIOPA on the prudential assessment"}},"register_url":{"value":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=CRF","source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=CRF","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":0,"source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=CRF","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"totalElements: 0"},"answer":"The Crowdfunding service provider authorisation is issued by Commission de Surveillance du Secteur Financier (CSSF) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The official register lists 0 current holders. The application fee is EUR 30,000. Ownership changes need the regulator's approval before completion.","derived_from":"cssf-luxembourg","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/luxembourg-crowdfunding/","jurisdiction_name":"Luxembourg","region":"eu-eea","regulator_name":"CSSF","regulator_url":"/licensing/regulators/cssf-luxembourg/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--LV--crowdfunding","family":"lending","jurisdiction":"LV","regulator_id":"latvijas-banka","official_name":{"value":"Crowdfunding service provider authorization","source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=466-crowdfunding-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Crowdfunding service providers"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for business","source":"https://eur-lex.europa.eu/eli/reg/2020/1503/oj","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 33%, or 50% of capital or voting rights, or causing the entity to become a subsidiary, requires prior notification and approval from Latvijas Banka. Under Latvijas Banka Regulation No. 241 and the Credit Institution Law, the assessment period is 60 working days from receipt of a complete notification, interruptible once by up to 20 or 30 working days to request supplementary documents; Latvijas Banka evaluates reputation, financial soundness, and AML/CFT compliance before issuing approval.","source":"https://www.bank.lv/en/operational-areas/licensing/credit-institution/procedure-for-the-evaluation-of-qualifying-holding","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"takes a decision to approve or prohibit the acquisition ... within 60 working days"}},"register_url":{"value":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=466-crowdfunding-service-providers","source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=466-crowdfunding-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":8,"source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=466-crowdfunding-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Total results: 8"},"answer":"The Crowdfunding service provider authorization is issued by Latvijas Banka (LB) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The official register lists 8 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"latvijas-banka","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/latvia-crowdfunding/","jurisdiction_name":"Latvia","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/latvijas-banka/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--NL--crowdfunding","family":"lending","jurisdiction":"NL","regulator_id":"afm-netherlands","official_name":{"value":"European Crowdfunding Service Provider (ECSPR) authorisation under Regulation (EU) 2020/1503","source":"https://www.afm.nl/nl-nl/sector/crowdfundingplatformen/vereisten-en-vergunning/vergunning-aanvragen","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"voldoen aan de vereisten en de doelstellingen van de Europese crowdfundingverordening (ECSPR) 2020/1503"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 200 per hour worked by the AFM, with a statutory maximum cap of EUR 75,000 for ECSPR authorisation under Regulation (EU) 2020/1503 Art. 12 (Bbft 2019 Bijlage 2, code EU.A1.07); plus EUR 700 integrity and EUR 2,900 suitability assessment per board member / 20%+ qualifying shareholder","source":"https://www.afm.nl/nl-nl/sector/crowdfundingplatformen/vereisten-en-vergunning/vergunning-aanvragen","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"De kosten voor de behandeling van een vergunningaanvraag zijn 200 euro per uur met een"},"annual":{"value":"Base supervisory levy plus variable component under the Regeling bekostiging financieel toezicht 2026 and Wbft 2019","source":"https://wetten.overheid.nl/BWBR0041548","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Wet bekostiging financieel toezicht 2019"}},"timelines":{"statutory":{"value":"25 working days completeness assessment from receipt, followed by 3 months decision period once complete (Regulation (EU) 2020/1503 Art. 12(8))","source":"https://www.afm.nl/nl-nl/sector/crowdfundingplatformen/vereisten-en-vergunning/vergunning-aanvragen","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Binnen drie maanden na ontvangst van een volledige aanvraag beoordeelt de AFM"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"In the Netherlands' Twin Peaks supervisory architecture, change of control and qualifying holdings (gekwalificeerde deelnemingen) are strictly regulated. Any natural or legal person proposing to acquire, increase, or divest a qualifying holding—defined as a direct or indirect holding of at least 10%, 20%, 33% (or 30%), or 50% of voting rights or capital, or the ability to exercise significant influence/control—in an investment firm or fund manager governed by the Wft must obtain a prior Declaration of No Objection (Verklaring van geen bezwaar - VVGB) from De Nederlandsche Bank (DNB) under Wft Article 3:95, with DNB consulting the AFM on conduct-of-business aspects. For crypto-asset service providers (CASPs) under Regulation (EU) 2023/1114 (MiCA Article 83), proposed acquisitions of qualifying holdings require prior assessment and approval by the competent supervisor (AFM charges EUR 2,400 per assessment under Bbft 2019 code EU.D1.07). The statutory assessment period is 60 working days from written acknowledgement of receipt of a complete filing, interruptible once by up to 20 or 30 working days if additional information is required from the proposed acquirer.","source":"https://wetten.overheid.nl/BWBR0020368","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"verklaring van geen bezwaar"}},"answer":"The European Crowdfunding Service Provider (ECSPR) authorisation under Regulation (EU) 2020/1503 is issued by Authority for the Financial Markets (AFM) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The legal decision period is 25 working days completeness assessment from receipt, followed by 3 months decision period once complete (Regulation (EU) 2020/1503 Art. 12(8)).","derived_from":"afm-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/netherlands-crowdfunding/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"AFM","regulator_url":"/licensing/regulators/afm-netherlands/","family_short":"Credit","capital_eur":null,"months":1.2},{"id":"lending--PL--crowdfunding","family":"lending","jurisdiction":"PL","regulator_id":"knf-poland","official_name":{"value":"Crowdfunding Service Provider authorization under ECSPR (dostawca usług finansowania społecznościowego)","source":"https://www.knf.gov.pl/podmioty/dostawcy_uslug_finansowania_spolecznosciowego_rejestr","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Rejestr dostawców usług finansowania społecznościowego"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Act on Consumer Credit of 12 May 2011","source":"https://dziennikustaw.gov.pl/DU/2023/1028","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Act on Crowdfunding for Business Ventures and Aid to Borrowers of 7 July 2022","source":"https://dziennikustaw.gov.pl/DU/2023/414","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503","pl-consumer-credit-act-2011","pl-crowdfunding-act-2022"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","fees":{"annual":{"value":"Up to 0.5% of average 3-year revenue, min EUR 750","source":"https://www.knf.gov.pl/dla_rynku/wplaty_pokrycie_kosztow_nadzoru/rynek_kapitalowy/grupa_VII","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"nie wyższym niż 0,5% podstawy"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding needs prior notification to the KNF, which can object within 60 working days (extendable by up to 20 working days while it waits for information). For national payment institutions the thresholds are 20%, 30% and 50% (Payment Services Act, Art. 72a); for banks they are 10%, 20%, one third and 50% (Banking Law, Art. 25). Shares acquired in breach carry no voting rights.","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.knf.gov.pl/podmioty/dostawcy_uslug_finansowania_spolecznosciowego_rejestr","source":"https://www.knf.gov.pl/podmioty/dostawcy_uslug_finansowania_spolecznosciowego_rejestr","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":4,"source":"https://www.knf.gov.pl/podmioty/dostawcy_uslug_finansowania_spolecznosciowego_rejestr","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Pozycje od 1 do 4 z 4"},"answer":"The Crowdfunding Service Provider authorization under ECSPR (dostawca usług finansowania społecznościowego) is issued by Polish Financial Supervision Authority (KNF) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The official register lists 4 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"knf-poland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/poland-crowdfunding/","jurisdiction_name":"Poland","region":"eu-eea","regulator_name":"KNF","regulator_url":"/licensing/regulators/knf-poland/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--PL--institution","family":"lending","jurisdiction":"PL","regulator_id":"knf-poland","official_name":{"value":"Lending Institution registration (instytucja pożyczkowa - RIP)","source":"https://rpkip.knf.gov.pl/index.html?type=RIP","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Rejestr Instytucji Pożyczkowych"},"legal_basis":[{"value":"Directive (EU) 2023/2225 of the European Parliament and of the Council of 18 October 2023 on credit agreements for consumers","source":"https://eur-lex.europa.eu/eli/dir/2023/2225/oj","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"Act on Consumer Credit of 12 May 2011","source":"https://dziennikustaw.gov.pl/DU/2023/1028","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Act on Crowdfunding for Business Ventures and Aid to Borrowers of 7 July 2022","source":"https://dziennikustaw.gov.pl/DU/2023/414","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ccd2-2023-2225","pl-consumer-credit-act-2011","pl-crowdfunding-act-2022","eu-ecspr-2020-1503"],"activity_ids":["credit-granting","consumer-credit"],"passporting":"none","fees":{"application":{"value":"PLN 616","source":"https://rpkip.knf.gov.pl/index.html?type=RIP","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"opłata skarbowa w wysokości 616 zł"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding needs prior notification to the KNF, which can object within 60 working days (extendable by up to 20 working days while it waits for information). For national payment institutions the thresholds are 20%, 30% and 50% (Payment Services Act, Art. 72a); for banks they are 10%, 20%, one third and 50% (Banking Law, Art. 25). Shares acquired in breach carry no voting rights.","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The Lending Institution registration (instytucja pożyczkowa - RIP) is issued by Polish Financial Supervision Authority (KNF) under Act on Consumer Credit of 12 May 2011. It is a national licence: it does not give a passport to other EU/EEA states. The application fee is PLN 616. Ownership changes need the regulator's approval before completion.","derived_from":"knf-poland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/poland-institution/","jurisdiction_name":"Poland","region":"eu-eea","regulator_name":"KNF","regulator_url":"/licensing/regulators/knf-poland/","family_short":"Credit","capital_eur":null,"months":null},{"id":"lending--SK--crowdfunding","family":"lending","jurisdiction":"SK","regulator_id":"nbs-slovakia","official_name":{"value":"Crowdfunding service provider authorisation under ECSPR (povolenie na činnosť poskytovateľa služieb kolektívneho financovania)","source":"https://subjekty.nbs.sk/?c=1343","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Poskytovatelia služieb kolektívneho financovania"},"legal_basis":[{"value":"Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32020R1503","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-ecspr-2020-1503"],"activity_ids":["crowdfunding"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_approval","summary":null},"answer":"The Crowdfunding service provider authorisation under ECSPR (povolenie na činnosť poskytovateľa služieb kolektívneho financovania) is issued by National Bank of Slovakia (NBS) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. Ownership changes need the regulator's approval before completion.","derived_from":"nbs-slovakia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/lending/slovakia-crowdfunding/","jurisdiction_name":"Slovakia","region":"eu-eea","regulator_name":"NBS","regulator_url":"/licensing/regulators/nbs-slovakia/","family_short":"Credit","capital_eur":null,"months":null},{"id":"money-transmitter--AE-DIFC","family":"money-transmitter","jurisdiction":"AE-DIFC","regulator_id":"dfsa-difc","official_name":{"value":"Financial Services Permission for Providing Money Services restricted to Money Transmission only (Category 4)","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Providing Money Services ... where restricted to Money Transmission only"},"legal_basis":[{"value":"DFSA Rulebook — Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML)","source":"https://dfsaen.thomsonreuters.com/rulebook/anti-money-laundering-counter-terrorist-financing-and-sanctions-module-aml-ver3004-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-difc-aml-rules"],"activity_ids":["money-remittance","currency-exchange"],"passporting":"none","fees":{"application":{"value":"USD 10,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Providing Money Services ... where restricted to Money Transmission only: 10,000"},"annual":{"value":"USD 10,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Providing Money Services ... where restricted to Money Transmission only: 10,000"}},"timelines":{"statutory":{"value":"No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay","source":"https://dfsaen.thomsonreuters.com/rulebook/regulatory-law-1","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Regulatory Law 2004 Article 59 and DFSA Rulebook General Module (GEN) Section 11.8, prior written approval from the DFSA is required before any person becomes a Controller, or increases their holding across 30% or 50% thresholds. A Controller is defined as someone holding 10% or more of shares or voting rights, or exercising significant influence over management. Under GEN 11.8.6, the DFSA must determine an application for approval of a change of control within 90 days of receipt of a duly completed application.","source":"https://dfsaen.thomsonreuters.com/rulebook/general-module-gen-ver7207-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 11.8.4 within 90 days"}},"answer":"The Financial Services Permission for Providing Money Services restricted to Money Transmission only (Category 4) is issued by Dubai Financial Services Authority (DFSA) under DFSA Rulebook — Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML). The legal decision period is No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay. The application fee is USD 10,000.","derived_from":"dfsa-difc","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/money-transmitter/difc/","jurisdiction_name":"Dubai International Financial Centre (DIFC)","region":"middle-east","regulator_name":"DFSA","regulator_url":"/licensing/regulators/dfsa-difc/","family_short":"MSB","capital_eur":null,"months":null},{"id":"money-transmitter--AU","family":"money-transmitter","jurisdiction":"AU","regulator_id":"austrac-australia","official_name":{"value":"Registration as a remittance service provider (remittance network provider or independent remittance dealer)","source":"https://www.legislation.gov.au/C2006A00169/latest/text","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Part 6 addresses \"The Remittance Sector Register\""},"legal_basis":[{"value":"Anti-Money Laundering and Counter-Terrorism Financing Act 2006","source":"https://www.legislation.gov.au/C2006A00169/latest/text","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024","source":"https://www.legislation.gov.au/C2024A00110/latest/text","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["au-aml-ctf-act-2006","au-aml-ctf-amendment-act-2024"],"activity_ids":["money-remittance","currency-exchange"],"passporting":"none","fees":{"application":{"value":"AUD 0 (no government application fee)","source":"https://moneytransferlicence.com.au/blog/is-austrac-registration-free-or-paid/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"AUSTRAC registration and enrolment do not attract an application fee"}},"change_of_control":{"approval_type":"notification","summary":{"value":"No percentage-based ownership threshold applies. Registered remittance providers and VASPs must notify AUSTRAC of any change to beneficial owners or key personnel — including new personnel's police checks and any criminal/civil enforcement history — within 14 days of the change, via AUSTRAC Online. This is post-completion notification, not prior approval; AUSTRAC can still suspend, cancel or impose conditions on the registration if it considers the new ownership or personnel pose a money-laundering, terrorism-financing or other serious-crime risk. Legal basis: AML/CTF Act 2006 (Cth).","source":"https://www.austrac.gov.au/industry-and-business/austrac-online/update-your-details","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"must tell AUSTRAC about changes within 14 days","blocked_reason":"austrac.gov.au times out on automated fetch; the 14-day figure is corroborated verbatim via WebSearch's indexed snippet of this exact URL, and independently by two secondary compliance-advisory sources (Bartier Perry, Click Legal)."}},"answer":"The Registration as a remittance service provider (remittance network provider or independent remittance dealer) is issued by Australian Transaction Reports and Analysis Centre (AUSTRAC) under Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The application fee is AUD 0 (no government application fee). Ownership changes need the regulator's approval before completion.","derived_from":"austrac-australia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/money-transmitter/australia/","jurisdiction_name":"Australia","region":"apac","regulator_name":"AUSTRAC","regulator_url":"/licensing/regulators/austrac-australia/","family_short":"MSB","capital_eur":null,"months":null},{"id":"money-transmitter--CA","family":"money-transmitter","jurisdiction":"CA","regulator_id":"fintrac-canada","official_name":{"value":"Money services business (MSB) registration (covers foreign exchange dealing, money transferring, virtual currency dealing, crowdfunding platforms and related services; a separate foreign-MSB registration applies to businesses without a place of business in Canada that direct services at Canadians)","source":"https://fintrac-canafe.canada.ca/msb-esm/msb-eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Proceeds of Crime (Money Laundering) and Terrorist Financing Act","source":"https://laws-lois.justice.gc.ca/eng/acts/P-24.501/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Retail Payment Activities Act (administered by the Bank of Canada, a separate regulator, for payment service provider registration alongside FINTRAC's MSB regime)","source":"https://www.bankofcanada.ca/core-functions/retail-payments-supervision/psp-registry/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ca-pcmltfa","ca-retail-payment-activities-act"],"activity_ids":["crowdfunding"],"passporting":"none","fees":{"application":{"value":"CAD 0 (no fee)","source":"https://fintrac-canafe.canada.ca/msb-esm/register-inscrire/reg-ins-eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"FINTRAC does not charge registration fees"},"annual":{"value":"CAD 0 (no fee)","source":"https://fintrac-canafe.canada.ca/msb-esm/register-inscrire/reg-ins-eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"timelines":{"statutory":{"value":"No fixed statutory maximum found; FINTRAC states most complete applications are processed within a target window (see observed)","source":"https://fintrac-canafe.canada.ca/msb-esm/register-inscrire/reg-ins-eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"observed":{"value":"The majority of complete applications are processed within three months of receipt of a complete application package; incomplete applications are closed and must be resubmitted.","source":"https://fintrac-canafe.canada.ca/msb-esm/register-inscrire/reg-ins-eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"processed within three months from the receipt of a complete application"}},"change_of_control":{"approval_type":"notification","summary":{"value":"For MSB registration, FINTRAC requires a criminal record check for each person who owns or controls, directly or indirectly, 20% or more of the entity or its shares. Registered MSBs must keep registration information up to date and notify FINTRAC of changes (e.g., contact person, Canadian representative for service) within 30 days; failure to notify in time can lead to administrative monetary penalties, criminal charges, or denial/revocation of registration. Separately, under the Retail Payment Activities Act a payment service provider must obtain new Bank of Canada registration (with a Minister of Finance national-security review of up to 60 days, extendable, plus up to 180 days, extendable, if a review is undertaken) before an acquisition of one-third or more of voting control closes; this is the Bank of Canada's regime, not FINTRAC's.","source":"https://fintrac-canafe.canada.ca/msb-esm/register-inscrire/respond-eng","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"must inform FINTRAC within 30 days"}},"answer":"The Money services business (MSB) registration (covers foreign exchange dealing, money transferring, virtual currency dealing, crowdfunding platforms and related services; a separate foreign-MSB registration applies to businesses without a place of business in Canada that direct services at Canadians) is issued by Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The application fee is CAD 0 (no fee).","derived_from":"fintrac-canada","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/money-transmitter/canada/","jurisdiction_name":"Canada","region":"americas","regulator_name":"FINTRAC","regulator_url":"/licensing/regulators/fintrac-canada/","family_short":"MSB","capital_eur":null,"months":null},{"id":"money-transmitter--NL","family":"money-transmitter","jurisdiction":"NL","regulator_id":"dnb-netherlands","official_name":{"value":"Exchange institution licence (Vergunning wisselinstelling)","source":"https://wetten.overheid.nl/BWBR0020368","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Wet op het financieel toezicht"},"legal_basis":[{"value":"Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en financieren van terrorisme - Wwft)","source":"https://wetten.overheid.nl/BWBR0024282","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32009L0110","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["nl-money-laundering-act","eu-emd2-2009-110"],"activity_ids":["money-remittance","currency-exchange"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 3:95 Wft and MiCA Articles 41 and 83, acquiring, increasing, or disposing of a qualifying holding (direct or indirect holding of 10% or more of voting rights or shares, or exercising significant influence) in a payment institution, EMI, or ART issuer requires a prior Declaration of No-Objection (DNO / VVGB) from DNB (the ECB assesses banks). Threshold bandwidth upper limits are set at 20%, 30/33%, 50%, or 100%. The statutory decision period is 60 working days from receipt of a complete application, extendable once by up to 30 working days for RFIs, governed by lex silencio positivo.","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-themes/declaration-of-no-objection/dno-application-time-frame/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The statutory decision period for a DNO application is 60 working days"}},"answer":"The Exchange institution licence (Vergunning wisselinstelling) is issued by De Nederlandsche Bank (DNB) under Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en financieren van terrorisme - Wwft). It is a national licence: it does not give a passport to other EU/EEA states. Ownership changes need the regulator's approval before completion.","derived_from":"dnb-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/money-transmitter/netherlands/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"DNB","regulator_url":"/licensing/regulators/dnb-netherlands/","family_short":"MSB","capital_eur":null,"months":null},{"id":"money-transmitter--US","family":"money-transmitter","jurisdiction":"US","regulator_id":"fincen-usa","official_name":{"value":"Registration of Money Services Business (Form 107 / RMSB)","source":"https://www.fincen.gov/money-services-business-msb-registration","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Bank Secrecy Act (Currency and Foreign Transactions Reporting Act of 1970, as amended; codified at 12 U.S.C. 1829b, 1951-1960 and 31 U.S.C. 5311-5314, 5316-5336, implementing regulations at 31 CFR Chapter X)","source":"https://www.fincen.gov/resources/statutes-and-regulations/bank-secrecy-act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["us-bank-secrecy-act"],"activity_ids":["money-remittance","currency-exchange"],"passporting":"none","fees":{"application":{"value":"No fee","source":"https://www.fincen.gov/money-services-business-msb-registration","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"None — Form 107 is a self-filed registration with no FinCEN approval or decision step; it must be filed within 180 days of the MSB being established","source":"https://www.fincen.gov/money-services-business-msb-registration","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"change_of_control":{"approval_type":"notification","summary":{"value":"No FinCEN approval or vetting of acquirers exists because MSB registration is not a licence. A transfer of more than 10% of an MSB's voting power or equity interests (31 CFR 1022.380(b)(4)), any ownership/control change requiring re-registration under state law, or a rise of more than 50% in the number of agents, triggers a mandatory re-registration: a new Form 107 filed via BSA E-Filing within 180 days of the event, with no waiting period for approval. State money-transmitter regulators, where the entity also holds a state licence, separately vet controllers on their own thresholds and timelines (not covered here).","source":"https://www.fincen.gov/money-services-business-msb-registration","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"More than 10 percent of the voting power or equity interest"}},"register_url":{"value":"https://msb.fincen.gov/","source":"https://msb.fincen.gov/","source_type":"primary","as_of":"2026-09-22","checked_by":"agy"},"licensee_count":{"value":28969,"source":"https://msb.fincen.gov/","source_type":"primary","as_of":"2026-09-22","checked_by":"agy","quote":"Total Registered MSB Count: 28,969"},"answer":"The Registration of Money Services Business (Form 107 / RMSB) is issued by Financial Crimes Enforcement Network (FinCEN) under Bank Secrecy Act (Currency and Foreign Transactions Reporting Act of 1970, as amended; codified at 12 U.S.C. 1829b, 1951-1960 and 31 U.S.C. 5311-5314, 5316-5336, implementing regulations at 31 CFR Chapter X). The official register lists 28969 current holders. The application fee is No fee. Ownership changes need the regulator's approval before completion.","derived_from":"fincen-usa","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/money-transmitter/united-states/","jurisdiction_name":"United States","region":"americas","regulator_name":"FinCEN","regulator_url":"/licensing/regulators/fincen-usa/","family_short":"MSB","capital_eur":null,"months":5.9},{"id":"money-transmitter--VG","family":"money-transmitter","jurisdiction":"VG","regulator_id":"bvi-fsc","official_name":{"value":"Money Services Business Licence, Class A (money/electronic/mobile money transmission) or Class B (money orders, traveller's cheques, cheque cashing, currency exchange)","source":"https://www.mondaq.com/financial-services/331238/the-financing-and-money-services-act-2009","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Financing and Money Services Act (Revised Edition)","source":"https://www.bvifsc.vg/sites/default/files/financing_and_money_services_act.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["vg-financing-and-money-services-act"],"activity_ids":["money-remittance","currency-exchange"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"For SIBA investment business licensees, acquiring, disposing of, or issuing shares that create or change a 'significant interest' - defined as 10% or more of voting rights, distributions, or the power to appoint/remove directors - needs prior written FSC consent; licensees separately notify the FSC within 14 days of certain interest transfers. For BVI-recognised mutual funds (not licensees), there is no ownership threshold trigger; instead the fund gives 7 days' prior notice of a new functionary (manager, administrator, custodian) and reports director/auditor/authorised-representative or offering-document changes within 14 days, per the Mutual Funds Regulations 2010 and the Incubator and Approved Funds Regulations.","source":"https://www.ogier.com/news-and-insights/insights/ongoing-regulatory-obligations-for-investment-business-licensees/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"transferring significant interests (10% stake or ability to appoint/remove directors)"}},"answer":"The Money Services Business Licence, Class A (money/electronic/mobile money transmission) or Class B (money orders, traveller's cheques, cheque cashing, currency exchange) is issued by British Virgin Islands Financial Services Commission (BVI FSC) under Financing and Money Services Act (Revised Edition). Ownership changes need the regulator's approval before completion.","derived_from":"bvi-fsc","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/money-transmitter/bvi/","jurisdiction_name":"British Virgin Islands","region":"offshore","regulator_name":"BVI FSC","regulator_url":"/licensing/regulators/bvi-fsc/","family_short":"MSB","capital_eur":null,"months":null},{"id":"payment-institution--AE--rps","family":"payment-institution","jurisdiction":"AE","regulator_id":"cbuae","official_name":{"value":"Retail Payment Services Licence (Categories I to IV)","source":"https://rulebook.centralbank.ae/en/node/1580","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Retail Payment Services and Card Schemes (RPSCS) Regulation"},"legal_basis":[{"value":"Retail Payment Services and Card Schemes Regulation (Circular No. 15/2021)","source":"https://rulebook.centralbank.ae/en/node/1580","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Payment Token Services Regulation (Circular No. 2/2024)","source":"https://rulebook.centralbank.ae/en/entiresection/5731","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-cbuae-rpscs-15-2021","ae-cbuae-ptsr-2-2024"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","timelines":{"statutory":{"value":"60 working days from the date of meeting all licensing conditions and requirements","source":"https://rulebook.centralbank.ae/en/entiresection/6185","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within a period not exceeding sixty (60) working days from the date of meeting"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Article 120 of Federal Decree-Law No. (6) of 2025, no person may acquire, transfer, or increase a controlling interest in a Licensed Financial Institution without obtaining prior written approval from the CBUAE. Controlling interest thresholds are established at 10% of shares or voting rights for Payment Token Service Providers (PTSR Circular 2/2024 Art. 1.17) and 20% for Retail Payment Service Providers (RPSCS Circular 15/2021 Art. 1 and Art. 8), or any holding conferring de facto control or board appointment rights. Unauthorised acquisitions are legally void, empowering the CBUAE to revoke voting rights and mandate the forced disposal of excess shares.","source":"https://rulebook.centralbank.ae/en/entiresection/6185","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No person may acquire or transfer any Controlling Interest in a Licensed Financial Institution"}},"register_url":{"value":"https://centralbank.ae/media/1z4gwagt/cb-register-june-2025.pdf","source":"https://centralbank.ae/media/1z4gwagt/cb-register-june-2025.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":"28 (June 2025 CBUAE register)","source":"https://centralbank.ae/media/1z4gwagt/cb-register-june-2025.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Retail Payment Services Licence (Categories I to IV) is issued by Central Bank of the UAE (CBUAE) under the Retail Payment Services and Card Schemes Regulation (Circular No. 15/2021). The official register lists 28 current holders (June 2025 CBUAE register). The legal decision period is 60 working days from the date of meeting all licensing conditions and requirements. Ownership changes need the regulator's approval before completion.","derived_from":"cbuae","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/uae-rps/","jurisdiction_name":"United Arab Emirates","region":"middle-east","regulator_name":"CBUAE","regulator_url":"/licensing/regulators/cbuae/","family_short":"PI","capital_eur":null,"months":2.8},{"id":"payment-institution--CZ--aisp","family":"payment-institution","jurisdiction":"CZ","regulator_id":"cnb-czechia","official_name":{"value":"Account Information Service Provider authorisation (povolení k činnosti správce informací o platebním účtu)","source":"https://www.cnb.cz/en/supervision-financial-market/conduct-of-supervision/licensing-and-approval-proceedings/licensing-and-approval-proceedings-payment-institutions/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Application for authorisation to act as an account information service provider"},"legal_basis":[{"value":"Act No. 370/2017 Coll. on Payment Systems","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["cz-payment-systems-act-2017","eu-psd2-2015-2366"],"activity_ids":["account-information"],"passporting":"none","fees":{"application":{"value":"CZK 25,000","source":"https://www.zakonyprolidi.cz/cs/2004-634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"správce informací o platebním účtu Kč 25000"}},"timelines":{"statutory":{"value":"3 months from commencement of proceedings","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Rozhodnutí o žádosti podle odstavce 1 Česká národní banka vydá do 3 měsíců"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance.","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Osoba nebo osoby jednající ve shodě oznámí předem České národní bance svůj záměr"}},"register_url":{"value":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":3,"source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Payment account information administrators 3 3 3"},"answer":"The Account Information Service Provider authorisation (povolení k činnosti správce informací o platebním účtu) is issued by Czech National Bank (CNB) under Act No. 370/2017 Coll. on Payment Systems. It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 3 current holders. The legal decision period is 3 months from commencement of proceedings. The application fee is CZK 25,000.","derived_from":"cnb-czechia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/czech-republic-aisp/","jurisdiction_name":"Czech Republic","region":"eu-eea","regulator_name":"CNB","regulator_url":"/licensing/regulators/cnb-czechia/","family_short":"PI","capital_eur":null,"months":3},{"id":"payment-institution--CZ--small-scale","family":"payment-institution","jurisdiction":"CZ","regulator_id":"cnb-czechia","official_name":{"value":"Small-scale Payment Service Provider authorisation (povolení k činnosti poskytovatele platebních služeb malého rozsahu - PPSMR)","source":"https://www.cnb.cz/en/supervision-financial-market/conduct-of-supervision/licensing-and-approval-proceedings/licensing-and-approval-proceedings-payment-institutions/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Application for authorisation to operate as a small-scale payment service provider"},"legal_basis":[{"value":"Act No. 370/2017 Coll. on Payment Systems","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["cz-payment-systems-act-2017","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","fees":{"application":{"value":"CZK 10,000","source":"https://www.zakonyprolidi.cz/cs/2004-634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"poskytovatele platebních služeb malého rozsahu Kč 10000"}},"timelines":{"statutory":{"value":"30 days (general administrative code deadline, extendable by 30 days)","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"zapíše žadatele do seznamu poskytovatelů platebních služeb malého rozsahu"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance.","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Osoba nebo osoby jednající ve shodě oznámí předem České národní bance svůj záměr"}},"register_url":{"value":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":47,"source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Small-scale payment service providers 60 50 47"},"answer":"The Small-scale Payment Service Provider authorisation (povolení k činnosti poskytovatele platebních služeb malého rozsahu - PPSMR) is issued by Czech National Bank (CNB) under Act No. 370/2017 Coll. on Payment Systems. It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 47 current holders. The legal decision period is 30 days (general administrative code deadline, extendable by 30 days). The application fee is CZK 10,000.","derived_from":"cnb-czechia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/czech-republic-small-scale/","jurisdiction_name":"Czech Republic","region":"eu-eea","regulator_name":"CNB","regulator_url":"/licensing/regulators/cnb-czechia/","family_short":"PI","capital_eur":null,"months":1},{"id":"payment-institution--CZ","family":"payment-institution","jurisdiction":"CZ","regulator_id":"cnb-czechia","official_name":{"value":"Payment Institution licence (povolení k činnosti platební instituce)","source":"https://www.cnb.cz/en/supervision-financial-market/conduct-of-supervision/licensing-and-approval-proceedings/licensing-and-approval-proceedings-payment-institutions/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Application for authorisation to operate as a payment institution"},"legal_basis":[{"value":"Act No. 370/2017 Coll. on Payment Systems","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["cz-payment-systems-act-2017","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"CZK 50,000","source":"https://www.zakonyprolidi.cz/cs/2004-634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"k činnosti platební instituce Kč 50000"}},"timelines":{"statutory":{"value":"3 months from commencement of proceedings / complete application","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Rozhodnutí o žádosti podle odstavce 1 Česká národní banka vydá do 3 měsíců"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Under Section 18 of the Payment Systems Act (Act No. 370/2017 Coll.), any person or persons acting in concert intending to acquire, dispose of, or increase a qualifying holding in a payment institution or electronic money institution reaching or exceeding 20%, 30%, or 50% of voting rights or capital, or become the controlling person, must notify the CNB in advance via electronic filing. The CNB assesses the trustworthiness and suitability of the proposed acquirer within a statutory 60-working-day window and may initiate proceedings to issue a formal objection (vyslovení nesouhlasu). In the absence of an objection or upon affirmative notification, the acquisition may proceed. Acquiring qualifying holdings in breach of notification or objection leads to statutory forfeiture of voting rights. In contrast, for banks and investment firms under Act No. 21/1992 Coll. and Act No. 256/2004 Coll., prior approval (předchozí souhlas) is required subject to a CZK 20,000 fee under Item 66 of Act No. 634/2004 Coll. Small-scale providers (PPSMR/VEPMR) are exempt from change-of-control clearance.","source":"https://www.zakonyprolidi.cz/cs/2017-370","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Osoba nebo osoby jednající ve shodě oznámí předem České národní bance svůj záměr"}},"register_url":{"value":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":26,"source":"https://www.cnb.cz/export/sites/cnb/en/supervision-financial-market/.galleries/aggregate_information_financial_sector/financial_market_supervision_reports/download/fms_2024.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Payment institutions 22 23 26"},"answer":"The Payment Institution licence (povolení k činnosti platební instituce) is issued by Czech National Bank (CNB) under Act No. 370/2017 Coll. on Payment Systems. It can be passported to the other EU/EEA states by notification. The official register lists 26 current holders. The legal decision period is 3 months from commencement of proceedings / complete application. The application fee is CZK 50,000. Ownership changes need the regulator's approval before completion.","derived_from":"cnb-czechia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/czech-republic/","jurisdiction_name":"Czech Republic","region":"eu-eea","regulator_name":"CNB","regulator_url":"/licensing/regulators/cnb-czechia/","family_short":"PI","capital_eur":null,"months":3},{"id":"payment-institution--DE--aisp","family":"payment-institution","jurisdiction":"DE","regulator_id":"bafin-germany","official_name":{"value":"Account information service provider registration (Registrierung als Kontoinformationsdienstleister nach § 34 ZAG)","source":"https://www.gesetze-im-internet.de/zag_2018/__34.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Registrierung als Kontoinformationsdienstleister"},"legal_basis":[{"value":"Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz - ZAG)","source":"https://www.gesetze-im-internet.de/zag_2018/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["de-payment-services-supervision-act","eu-psd2-2015-2366"],"activity_ids":["account-information"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining control of a credit institution, payment institution, or investment firm, requires prior written notification to BaFin and the Deutsche Bundesbank. BaFin conducts an assessment of acquirer reliability, professional competence, financial soundness, and money laundering risks within 60 working days from receipt of a complete filing, interruptible once by up to 20 working days (or 30 working days if non-EEA) to request additional information, under Section 2c KWG, applied mutatis mutandis to payment and e-money institutions via Section 14 ZAG and to investment firms via Section 24 WpIG.","source":"https://www.gesetze-im-internet.de/kredwg/__2c.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"innerhalb von 60 Arbeitstagen ab dem Datum des Schreibens ... zu beurteilen"}},"register_url":{"value":"https://portal.mvp.bafin.de/database/ZahlInstInfo/","source":"https://portal.mvp.bafin.de/database/ZahlInstInfo/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":13,"source":"https://portal.mvp.bafin.de/database/ZahlInstInfo/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Kontoinformationsdienstleistungsinstitut"},"answer":"The Account information service provider registration (Registrierung als Kontoinformationsdienstleister nach § 34 ZAG) is issued by Federal Financial Supervisory Authority (BaFin) under Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz - ZAG). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 13 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"bafin-germany","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/germany-aisp/","jurisdiction_name":"Germany","region":"eu-eea","regulator_name":"BaFin","regulator_url":"/licensing/regulators/bafin-germany/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--DE","family":"payment-institution","jurisdiction":"DE","regulator_id":"bafin-germany","official_name":{"value":"Payment institution licence (Erlaubnis zur Erbringung von Zahlungsdiensten nach § 10 ZAG)","source":"https://www.gesetze-im-internet.de/zag_2018/__10.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Erlaubnis für Zahlungsinstitute (1) Wer im Inland gewerbsmäßig oder in einem Umfang"},"legal_basis":[{"value":"Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz - ZAG)","source":"https://www.gesetze-im-internet.de/zag_2018/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["de-payment-services-supervision-act","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 13,523 or time spent","source":"https://www.gesetze-im-internet.de/findagebv/anlage.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Erbringung mehrerer oder sämtlicher Zahlungsdienste ... 13 523"},"annual":{"value":"Annual cost allocation levy (Umlage) based on transaction volume","source":"https://www.bafin.de/DE/die-bafin/ueber-die-bafin/organisation/finanzierung/finanzierung_node.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Kosten der Bundesanstalt ... sind sie anteilig auf die beaufsichtigten Unternehmen umzulegen"}},"timelines":{"statutory":{"value":"3 months from receipt of complete application, maximum 12 months overall","source":"https://www.gesetze-im-internet.de/zag_2018/__10.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"binnen drei Monaten nach Übermittlung aller für die Entscheidung erforderlichen Angaben"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining control of a credit institution, payment institution, or investment firm, requires prior written notification to BaFin and the Deutsche Bundesbank. BaFin conducts an assessment of acquirer reliability, professional competence, financial soundness, and money laundering risks within 60 working days from receipt of a complete filing, interruptible once by up to 20 working days (or 30 working days if non-EEA) to request additional information, under Section 2c KWG, applied mutatis mutandis to payment and e-money institutions via Section 14 ZAG and to investment firms via Section 24 WpIG.","source":"https://www.gesetze-im-internet.de/kredwg/__2c.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"innerhalb von 60 Arbeitstagen ab dem Datum des Schreibens ... zu beurteilen"}},"register_url":{"value":"https://portal.mvp.bafin.de/database/ZahlInstInfo/","source":"https://portal.mvp.bafin.de/database/ZahlInstInfo/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":102,"source":"https://portal.mvp.bafin.de/database/ZahlInstInfo/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"102 Elemente gefunden"},"answer":"The Payment institution licence (Erlaubnis zur Erbringung von Zahlungsdiensten nach § 10 ZAG) is issued by Federal Financial Supervisory Authority (BaFin) under Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz - ZAG). It can be passported to the other EU/EEA states by notification. The official register lists 102 current holders. The legal decision period is 3 months from receipt of complete application, maximum 12 months overall. The application fee is EUR 13,523 or time spent.","derived_from":"bafin-germany","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/germany/","jurisdiction_name":"Germany","region":"eu-eea","regulator_name":"BaFin","regulator_url":"/licensing/regulators/bafin-germany/","family_short":"PI","capital_eur":null,"months":3},{"id":"payment-institution--EE--exception","family":"payment-institution","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Payment institution operating with an exception","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[48]=48","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Estonian payment institutions with an exception"},"legal_basis":[{"value":"Payment Institutions and E-money Institutions Act","source":"https://www.riigiteataja.ee/en/akt/515032024001","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ee-payment-institutions-and-e-money-institutions-act","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/supervised-entities?closed=1&st[48]=48","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[48]=48","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":2,"source":"https://www.fi.ee/en/supervised-entities?closed=1&st[48]=48","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Estonian payment institutions with an exception"},"answer":"The Payment institution operating with an exception is issued by Finantsinspektsioon (FI) under Payment Institutions and E-money Institutions Act. It can be passported to the other EU/EEA states by notification. The official register lists 2 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/estonia-exception/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--EE","family":"payment-institution","jurisdiction":"EE","regulator_id":"finantsinspektsioon-estonia","official_name":{"value":"Operating licence as a payment institution","source":"https://www.fi.ee/en/payment-and-e-money-services/applying-operating-licence-payment-services/operating-licences-payment-institutions-and-e-money-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Applying for an operating licence as a payment institution"},"legal_basis":[{"value":"Payment Institutions and E-money Institutions Act","source":"https://www.riigiteataja.ee/en/akt/515032024001","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ee-payment-institutions-and-e-money-institutions-act","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 3,000","source":"https://www.riigiteataja.ee/en/akt/529072025004","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"Within 3 months after all necessary documentation is received, and not later than 6 months after initial receipt","source":"https://www.fi.ee/en/payment-and-e-money-services/applying-operating-licence-payment-services/operating-licences-payment-institutions-and-e-money-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within three months after all the necessary documentation and data have been received"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of share capital or voting rights in an Estonian bank, payment institution, EMI, investment firm, or CASP requires prior notification and approval from Finantsinspektsioon. Filings are submitted electronically through the FI Application Portal (or via the ECB SSM portal for credit institutions). The statutory assessment period is 60 working days from receipt of complete documentation, interruptible once by up to 20 or 30 working days to request additional information, evaluating acquirer reputation, financial solidity, and AML/CFT compliance.","source":"https://taotlus.fi.ee/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"notifications on acquisitions of qualifying holdings of subjects of financial supervision"}},"register_url":{"value":"https://www.fi.ee/en/supervised-entities?closed=1&st[48]=48","source":"https://www.fi.ee/en/supervised-entities?closed=1&st[48]=48","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":9,"source":"https://www.fi.ee/en/supervised-entities?closed=1&st[48]=48","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Estonian payment institutions"},"answer":"The Operating licence as a payment institution is issued by Finantsinspektsioon (FI) under Payment Institutions and E-money Institutions Act. It can be passported to the other EU/EEA states by notification. The official register lists 9 current holders. The legal decision period is Within 3 months after all necessary documentation is received, and not later than 6 months after initial receipt. The application fee is EUR 3,000. Ownership changes need the regulator's approval before completion.","derived_from":"finantsinspektsioon-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/estonia/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FI","regulator_url":"/licensing/regulators/finantsinspektsioon-estonia/","family_short":"PI","capital_eur":null,"months":3},{"id":"payment-institution--ES","family":"payment-institution","jurisdiction":"ES","regulator_id":"banco-de-espana","official_name":{"value":"Entidad de pago (EP) / Payment institution authorization","source":"https://sedeelectronica.bde.es/sede/es/tramites/autorizacion-entidades-pago-p212.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Autorización de entidades de pago"},"legal_basis":[{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 0 (The application and licensing procedure does not accrue any statutory fee)","source":"https://sedeelectronica.bde.es/sede/es/tramites/autorizacion-entidades-pago-p212.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"annual":{"value":"EUR 0 (Banco de España does not levy annual supervisory fees on domestic PIs)","source":"https://sedeelectronica.bde.es/sede/es/tramites/autorizacion-entidades-pago-p212.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application (maximum 12 months from initial filing; silence implies rejection)","source":"https://sedeelectronica.bde.es/sede/es/tramites/autorizacion-entidades-pago-p212.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"3 meses desde que se considere completa la documentación presentada"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person intending to acquire or increase, directly or indirectly, a qualifying holding reaching or exceeding 10%, 20%, 30%, or 50% of the share capital or voting rights, or to acquire control of an electronic money institution, payment institution, or credit financial establishment, must submit prior notification to Banco de España under Procedure ES_BDE_C056_P247 (or ES_BDE_C056_P114 for banks). Banco de España assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory maximum period of 60 working days from written acknowledgement of receipt. Closing without non-opposition suspends voting rights and triggers administrative penalties under Ley 10/2014 and Real Decreto 736/2019.","source":"https://sedeelectronica.bde.es/sede/es/tramites/adquisicion-participaciones-significativas-establecimientos-p247.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"60 días hábiles, a contar desde la fecha en que el Banco de España haya"}},"register_url":{"value":"https://www.bde.es/f/webbe/SGE/regis/ficheros/es/Registro_ServicioPagos.xlsx","source":"https://www.bde.es/f/webbe/SGE/regis/ficheros/es/Registro_ServicioPagos.xlsx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":55,"source":"https://www.bde.es/f/webbe/SGE/regis/ficheros/es/Registro_ServicioPagos.xlsx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Entidad de pago"},"answer":"The Entidad de pago (EP) / Payment institution authorization is issued by Bank of Spain (BdE) under Directive (EU) 2015/2366 on payment services in the internal market (PSD2). It can be passported to the other EU/EEA states by notification. The official register lists 55 current holders. The legal decision period is 3 months from receipt of a complete application (maximum 12 months from initial filing; silence implies rejection).","derived_from":"banco-de-espana","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/spain/","jurisdiction_name":"Spain","region":"eu-eea","regulator_name":"BdE","regulator_url":"/licensing/regulators/banco-de-espana/","family_short":"PI","capital_eur":null,"months":3},{"id":"payment-institution--GB--raisp","family":"payment-institution","jurisdiction":"GB","regulator_id":"fca-uk","official_name":{"value":"Registered Account Information Service Provider (RAISP)","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Registered account information service provider (RAISP)"},"legal_basis":[{"value":"Payment Services Regulations 2017 (SI 2017/752)","source":"https://www.legislation.gov.uk/uksi/2017/752/contents","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["gb-payment-services-regulations-2017"],"activity_ids":["account-information"],"passporting":"none","fees":{"application":{"value":"GBP 1,130 (Pricing Category 3)","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Registered account information service provider (RAISP) The fee is Category 3."},"annual":{"value":"GBP 646 extra periodic fee for registered account information service providers (Fee-block G.3)","source":"https://www.fca.org.uk/firms/fees/how-we-calculate-annual-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"payment services provider (£646)"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested.","source":"https://www.fca.org.uk/firms/change-control/control-thresholds-bands","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Thresholds for control of Directive firms are defined in the following bands: 10% or more"}},"answer":"The Registered Account Information Service Provider (RAISP) is issued by Financial Conduct Authority (FCA) under Payment Services Regulations 2017 (SI 2017/752). The application fee is GBP 1,130 (Pricing Category 3). Ownership changes need the regulator's approval before completion.","derived_from":"fca-uk","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/united-kingdom-raisp/","jurisdiction_name":"United Kingdom","region":"europe-non-eu","regulator_name":"FCA","regulator_url":"/licensing/regulators/fca-uk/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--GB--spi","family":"payment-institution","jurisdiction":"GB","regulator_id":"fca-uk","official_name":{"value":"Small Payment Institution (SPI) Registration","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The fee for a small PI is Category 3"},"legal_basis":[{"value":"Payment Services Regulations 2017 (SI 2017/752)","source":"https://www.legislation.gov.uk/uksi/2017/752/contents","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["gb-payment-services-regulations-2017"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","fees":{"application":{"value":"GBP 1,130 (Pricing Category 3)","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"fee for a small PI is Category 3"},"annual":{"value":"GBP 646 extra periodic fee for small payment institutions (Fee-block G.3)","source":"https://www.fca.org.uk/firms/fees/how-we-calculate-annual-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"payment services provider (£646)"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested.","source":"https://www.fca.org.uk/firms/change-control/control-thresholds-bands","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Thresholds for control of Directive firms are defined in the following bands: 10% or more"}},"answer":"The Small Payment Institution (SPI) Registration is issued by Financial Conduct Authority (FCA) under Payment Services Regulations 2017 (SI 2017/752). The application fee is GBP 1,130 (Pricing Category 3). Ownership changes need the regulator's approval before completion.","derived_from":"fca-uk","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/united-kingdom-spi/","jurisdiction_name":"United Kingdom","region":"europe-non-eu","regulator_name":"FCA","regulator_url":"/licensing/regulators/fca-uk/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--GB","family":"payment-institution","jurisdiction":"GB","regulator_id":"fca-uk","official_name":{"value":"Authorised Payment Institution (API)","source":"https://www.fca.org.uk/firms/authorisation/pre-application-support-service","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"payment institution applicants"},"legal_basis":[{"value":"Payment Services Regulations 2017 (SI 2017/752)","source":"https://www.legislation.gov.uk/uksi/2017/752/contents","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["gb-payment-services-regulations-2017"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","fees":{"application":{"value":"GBP 5,640 (Pricing Category 5 for payment services a-e) or GBP 2,820 (Pricing Category 4 for payment services f-h)","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Category 4 or 5 if you're an authorised PI"},"annual":{"value":"GBP 2,000 standard minimum fee (Fee-block A.0) plus GBP 646 extra fee for payment services providers (Fee-block G.3) plus variable levy based on relevant payment turnover","source":"https://www.fca.org.uk/firms/fees/how-we-calculate-annual-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"payment services provider (£646)"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Regulation 9 of PSRs 2017","source":"https://www.legislation.gov.uk/uksi/2017/752/contents","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Determination of application for authorisation"},"observed":{"value":"Median elapsed determination time of 207 calendar days (Lower Quartile: 124 days, Upper Quartile: 269 days) across 44 cases (PS1-4 Payment Services & E-Money Authorisations) determined in Q4 2025/26","source":"https://www.fca.org.uk/data/fca-authorisations-operating-service-metrics-2025-26-q4","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Payment Services/E-Money Authorisations and Variations"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested.","source":"https://www.fca.org.uk/firms/change-control/control-thresholds-bands","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Thresholds for control of Directive firms are defined in the following bands: 10% or more"}},"answer":"The Authorised Payment Institution (API) is issued by Financial Conduct Authority (FCA) under Payment Services Regulations 2017 (SI 2017/752). The legal decision period is 3 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Regulation 9 of PSRs 2017. The application fee is GBP 5,640 (Pricing Category 5 for payment services a-e) or GBP 2,820 (Pricing Category 4 for payment services f-h).","derived_from":"fca-uk","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/united-kingdom/","jurisdiction_name":"United Kingdom","region":"europe-non-eu","regulator_name":"FCA","regulator_url":"/licensing/regulators/fca-uk/","family_short":"PI","capital_eur":null,"months":3},{"id":"payment-institution--GE","family":"payment-institution","jurisdiction":"GE","regulator_id":"nbg-georgia","official_name":{"value":"Registration as a Payment Service Provider (PSP) with the National Bank of Georgia","source":"https://nbg.gov.ge/en/page/law-on-payment-services","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"legal_basis":[{"value":"Law of Georgia on Payment System and Payment Services","source":"https://matsne.gov.ge/en/document/view/1673253","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["ge-law-on-payment-systems-and-services"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","fees":{"application":{"value":"GEL 5,000 application review fee","source":"https://ge.andersen.com/payment-services-georgia/","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude","quote":"GEL 5,000 application review fee"}},"timelines":{"observed":{"value":"A law firm reports NBG allows 30 calendar days to fix incomplete documentation, then reviews a compliant application within 60 calendar days","source":"https://ge.andersen.com/payment-services-georgia/","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude","quote":"reviews materials within 60 calendar days"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"For commercial banks, acquiring or crossing 10%, 20%, 30% or 50% of capital or voting shares, or otherwise gaining significant influence, requires notifying the National Bank; anyone holding more than 10% is a significant shareholder subject to the NBG's fit-and-proper assessment (Law on Commercial Bank Activities, Art. 81 and Art. 1(z5)). For payment service providers, changes of significant shareholders and beneficial owners must be notified to the NBG under its PSP registration order (Order No. 77/04 of 1 May 2023).","source":"https://matsne.gov.ge/en/document/view/32962","source_type":"primary","as_of":"2026-09-24","checked_by":"claude","quote":"10%, 20%, 30% or 50%"}},"answer":"The Registration as a Payment Service Provider (PSP) with the National Bank of Georgia is issued by National Bank of Georgia (NBG) under Law of Georgia on Payment System and Payment Services. The application fee is GEL 5,000 application review fee. Ownership changes need the regulator's approval before completion.","derived_from":"nbg-georgia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/georgia/","jurisdiction_name":"Georgia","region":"europe-non-eu","regulator_name":"NBG","regulator_url":"/licensing/regulators/nbg-georgia/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--IE--aisp","family":"payment-institution","jurisdiction":"IE","regulator_id":"central-bank-of-ireland","official_name":{"value":"Account Information Service Provider Registration","source":"https://www.centralbank.ie/regulation/how-we-regulate/authorisation/payment-authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Registration of Account Information Service Providers"},"legal_basis":[{"value":"European Union (Payment Services) Regulations 2018 (S.I. No. 6/2018)","source":"https://www.irishstatutebook.ie/eli/2018/si/6/made/en/print","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ie-payment-services-regulations-2018","eu-psd2-2015-2366"],"activity_ids":["account-information"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.","source":"https://www.centralbank.ie/regulation/industry-market-sectors/payment-institutions/notification-process-for-proposed-acquisitions-of-qualifying-holdings","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"complete its assessment of the Notification within 60 working days"}},"answer":"The Account Information Service Provider Registration is issued by Central Bank of Ireland (CBI) under European Union (Payment Services) Regulations 2018 (S.I. No. 6/2018). It is a national licence: it does not give a passport to other EU/EEA states. Ownership changes need the regulator's approval before completion.","derived_from":"central-bank-of-ireland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/ireland-aisp/","jurisdiction_name":"Ireland","region":"eu-eea","regulator_name":"CBI","regulator_url":"/licensing/regulators/central-bank-of-ireland/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--IE","family":"payment-institution","jurisdiction":"IE","regulator_id":"central-bank-of-ireland","official_name":{"value":"Payment Institution Authorisation","source":"https://www.centralbank.ie/regulation/how-we-regulate/authorisation/payment-authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Authorisation as a Payment Institution"},"legal_basis":[{"value":"European Union (Payment Services) Regulations 2018 (S.I. No. 6/2018)","source":"https://www.irishstatutebook.ie/eli/2018/si/6/made/en/print","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ie-payment-services-regulations-2018","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 0 (No application fee)","source":"https://www.centralbank.ie/regulation/how-we-regulate/authorisation/payment-authorisation","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"annual":{"value":"Minimum levy of EUR 6,625 plus a variable levy based on the firm's share of all transactions processed (Category N, S.I. No. 348/2026)","source":"https://www.irishstatutebook.ie/eli/2026/si/348/made/en/print","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.","source":"https://www.centralbank.ie/regulation/industry-market-sectors/payment-institutions/notification-process-for-proposed-acquisitions-of-qualifying-holdings","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"complete its assessment of the Notification within 60 working days"}},"answer":"The Payment Institution Authorisation is issued by Central Bank of Ireland (CBI) under European Union (Payment Services) Regulations 2018 (S.I. No. 6/2018). It can be passported to the other EU/EEA states by notification. The application fee is EUR 0 (No application fee). Ownership changes need the regulator's approval before completion.","derived_from":"central-bank-of-ireland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/ireland/","jurisdiction_name":"Ireland","region":"eu-eea","regulator_name":"CBI","regulator_url":"/licensing/regulators/central-bank-of-ireland/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--LT--restricted","family":"payment-institution","jurisdiction":"LT","regulator_id":"bank-of-lithuania","official_name":{"value":"Payment institution licence for restricted activity","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=28&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Payment institutions holding a licence for restricted activity"},"legal_basis":[{"value":"Republic of Lithuania Law on Payment Institutions No XI-549","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/0b531920890111eb998483d0ae31615c/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lt-law-on-payment-institutions","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or becoming controlled, requires prior written notification to the Bank of Lithuania. The supervisory authority assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory 60 working days period (interruptible once by up to 20 working days for additional information) under Law on Banks Arts 24-25, applied mutatis mutandis to EMIs (EMI Law Art. 17) and PIs (PI Law Art. 10).","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person ... who have taken a decision on the acquisition of a qualifying holding"}},"register_url":{"value":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=28&market=1","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=28&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":11,"source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=28&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"All results 11"},"answer":"The Payment institution licence for restricted activity is issued by Bank of Lithuania (LB) under Republic of Lithuania Law on Payment Institutions No XI-549. It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 11 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"bank-of-lithuania","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/lithuania-restricted/","jurisdiction_name":"Lithuania","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/bank-of-lithuania/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--LT","family":"payment-institution","jurisdiction":"LT","regulator_id":"bank-of-lithuania","official_name":{"value":"Payment institution licence","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=27&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Payment institutions holding a payment institution licence"},"legal_basis":[{"value":"Republic of Lithuania Law on Payment Institutions No XI-549","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/0b531920890111eb998483d0ae31615c/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lt-law-on-payment-institutions","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 898","source":"https://web.archive.org/web/20251024053402/https://www.lb.lt/en/authorisation-of-payment-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"annual":{"value":"max 0.65% of income (proposed 1% from 2027, min EUR 5,000 full / EUR 3,000 limited)","source":"https://www.15min.lt/verslas/naujiena/finansai/vyriausybe-mokejimo-ir-e-pinigu-istaigos-lietuvos-bankui-uz-prieziura-turetu-moketi-daugiau-662-2770050","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/0b531920890111eb998483d0ae31615c/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within three months of receipt of the application"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or becoming controlled, requires prior written notification to the Bank of Lithuania. The supervisory authority assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory 60 working days period (interruptible once by up to 20 working days for additional information) under Law on Banks Arts 24-25, applied mutatis mutandis to EMIs (EMI Law Art. 17) and PIs (PI Law Art. 10).","source":"https://e-seimas.lrs.lt/rs/legalact/TAD/9ba20892227e11e6acbed8d454428fb7/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A person ... who have taken a decision on the acquisition of a qualifying holding"}},"register_url":{"value":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=27&market=1","source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=27&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":27,"source":"https://www.lb.lt/en/sfi-financial-market-participants?business_form=27&market=1","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"All results 27"},"answer":"The Payment institution licence is issued by Bank of Lithuania (LB) under Republic of Lithuania Law on Payment Institutions No XI-549. It can be passported to the other EU/EEA states by notification. The official register lists 27 current holders. The legal decision period is 3 months from receipt of a complete application. The application fee is EUR 898. Ownership changes need the regulator's approval before completion.","derived_from":"bank-of-lithuania","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/lithuania/","jurisdiction_name":"Lithuania","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/bank-of-lithuania/","family_short":"PI","capital_eur":null,"months":3},{"id":"payment-institution--LU","family":"payment-institution","jurisdiction":"LU","regulator_id":"cssf-luxembourg","official_name":{"value":"Payment institution authorisation","source":"https://www.cssf.lu/en/authorisation-procedure-payment-institution-or-electronic-money-institution-registration-aisp/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"holding a written authorisation as PI or EMI by the CSSF"},"legal_basis":[{"value":"Law of 10 November 2009 on payment services","source":"https://www.cssf.lu/en/Document/law-of-10-november-2009/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lu-law-on-payment-services-2009","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 30,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A single lump sum of EUR 30,000 for the examination of each authorisation request"},"annual":{"value":"EUR 30,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Up to 1,000 million EUR 30,000"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application, maximum 12 months overall","source":"https://www.cssf.lu/en/Document/law-of-10-november-2009/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"dans les trois mois suivant la réception de la demande"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or causing an entity to become a subsidiary, requires prior written notification to the CSSF. The CSSF conducts a prudential assessment of acquirer suitability, reputation, financial soundness, and AML risk within 60 working days (interruptible once by up to 20 working days, or 30 working days for non-EU acquirers) under Articles 18 and 18-1 of the Law of 5 April 1993, Article 12 of the Law of 10 November 2009, Article 83 of Regulation (EU) 2023/1114 (MiCA), and Circular CSSF 17/669 adopting the Joint ESA Guidelines.","source":"https://www.cssf.lu/en/Document/circular-cssf-17-669/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Adoption of the Joint Guidelines of ESMA, EBA and EIOPA on the prudential assessment"}},"register_url":{"value":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=PI","source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=PI","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":29,"source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=PI","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"totalElements: 29"},"answer":"The Payment institution authorisation is issued by Commission de Surveillance du Secteur Financier (CSSF) under Law of 10 November 2009 on payment services. It can be passported to the other EU/EEA states by notification. The official register lists 29 current holders. The legal decision period is 3 months from receipt of a complete application, maximum 12 months overall. The application fee is EUR 30,000. Ownership changes need the regulator's approval before completion.","derived_from":"cssf-luxembourg","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/luxembourg/","jurisdiction_name":"Luxembourg","region":"eu-eea","regulator_name":"CSSF","regulator_url":"/licensing/regulators/cssf-luxembourg/","family_short":"PI","capital_eur":null,"months":3},{"id":"payment-institution--LV--registered","family":"payment-institution","jurisdiction":"LV","regulator_id":"latvijas-banka","official_name":{"value":"Registered payment institution","source":"https://www.bank.lv/en/operational-areas/licensing/payment-institution/registered-payment-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Registered payment institution"},"legal_basis":[{"value":"Law on Payment Services and Electronic Money","source":"https://likumi.lv/ta/en/en/id/206634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lv-law-on-payment-services-and-electronic-money","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 2,500 (standard) or EUR 450 (innovative PSP)","source":"https://www.bank.lv/en/operational-areas/licensing/payment-institution/registered-payment-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"EUR 2 500 for the examination of an application for registration"},"annual":{"value":"EUR 1,000 plus up to 1.4% of gross revenue","source":"https://www.bank.lv/en/operational-areas/licensing/payment-institution/registered-payment-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"EUR 1 000 per calendar year and up to 1.4% (inclusive)"}},"timelines":{"statutory":{"value":"15 working days completeness check, followed by 1 month decision period from receipt of complete application","source":"https://www.bank.lv/en/operational-areas/licensing/payment-institution/registered-payment-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"take a decision on registration ... within one month of receiving"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 33%, or 50% of capital or voting rights, or causing the entity to become a subsidiary, requires prior notification and approval from Latvijas Banka. Under Latvijas Banka Regulation No. 241 and the Credit Institution Law, the assessment period is 60 working days from receipt of a complete notification, interruptible once by up to 20 or 30 working days to request supplementary documents; Latvijas Banka evaluates reputation, financial soundness, and AML/CFT compliance before issuing approval.","source":"https://www.bank.lv/en/operational-areas/licensing/credit-institution/procedure-for-the-evaluation-of-qualifying-holding","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"takes a decision to approve or prohibit the acquisition ... within 60 working days"}},"register_url":{"value":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=102-registered-payment-institutions","source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=102-registered-payment-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":0,"source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=102-registered-payment-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Total results: 0"},"answer":"The Registered payment institution is issued by Latvijas Banka (LB) under Law on Payment Services and Electronic Money. It can be passported to the other EU/EEA states by notification. The official register lists 0 current holders. The legal decision period is 15 working days completeness check, followed by 1 month decision period from receipt of complete application. The application fee is EUR 2,500 (standard) or EUR 450 (innovative PSP).","derived_from":"latvijas-banka","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/latvia-registered/","jurisdiction_name":"Latvia","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/latvijas-banka/","family_short":"PI","capital_eur":null,"months":0.7},{"id":"payment-institution--LV","family":"payment-institution","jurisdiction":"LV","regulator_id":"latvijas-banka","official_name":{"value":"Authorised payment institution licence","source":"https://www.bank.lv/en/operational-areas/licensing/payment-institution/licensed-payment-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed payment institution"},"legal_basis":[{"value":"Law on Payment Services and Electronic Money","source":"https://likumi.lv/ta/en/en/id/206634","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["lv-law-on-payment-services-and-electronic-money","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 5,000 (standard) or EUR 450 (innovative PSP)","source":"https://www.bank.lv/en/operational-areas/licensing/payment-institution/licensed-payment-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"EUR 5 000 for the examination of an application for a licence"},"annual":{"value":"EUR 7,000 (or EUR 3,000 for AIS/PIS) plus up to 1.4% of gross revenue (or EUR 1,000 fixed for innovative PSPs in first 3 years)","source":"https://www.bank.lv/en/operational-areas/licensing/payment-institution/licensed-payment-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"EUR 7 000 per calendar year and up to 1.4% (inclusive)"}},"timelines":{"statutory":{"value":"15 working days completeness check, followed by 3 months decision period from receipt of complete application","source":"https://www.bank.lv/en/operational-areas/licensing/payment-institution/licensed-payment-institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"take a decision on granting a licence ... within three months of receiving"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 33%, or 50% of capital or voting rights, or causing the entity to become a subsidiary, requires prior notification and approval from Latvijas Banka. Under Latvijas Banka Regulation No. 241 and the Credit Institution Law, the assessment period is 60 working days from receipt of a complete notification, interruptible once by up to 20 or 30 working days to request supplementary documents; Latvijas Banka evaluates reputation, financial soundness, and AML/CFT compliance before issuing approval.","source":"https://www.bank.lv/en/operational-areas/licensing/credit-institution/procedure-for-the-evaluation-of-qualifying-holding","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"takes a decision to approve or prohibit the acquisition ... within 60 working days"}},"register_url":{"value":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=97-authorized-payment-institutions","source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=97-authorized-payment-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":11,"source":"https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=97-authorized-payment-institutions","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Total results: 11"},"answer":"The Authorised payment institution licence is issued by Latvijas Banka (LB) under Law on Payment Services and Electronic Money. It can be passported to the other EU/EEA states by notification. The official register lists 11 current holders. The legal decision period is 15 working days completeness check, followed by 3 months decision period from receipt of complete application. The application fee is EUR 5,000 (standard) or EUR 450 (innovative PSP).","derived_from":"latvijas-banka","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/latvia/","jurisdiction_name":"Latvia","region":"eu-eea","regulator_name":"LB","regulator_url":"/licensing/regulators/latvijas-banka/","family_short":"PI","capital_eur":null,"months":0.7},{"id":"payment-institution--MT--aisp","family":"payment-institution","jurisdiction":"MT","regulator_id":"mfsa-malta","official_name":{"value":"Account information service provider registration","source":"https://legislation.mt/getpdf/678e17bf0dba9f09507842db","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"account information service provider"},"legal_basis":[{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-psd2-2015-2366"],"activity_ids":["account-information"],"passporting":"none","fees":{"application":{"value":"EUR 1,000","source":"https://legislation.mt/getpdf/678e17bf0dba9f09507842db","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"application fee of one thousand euro (€1,000)"},"annual":{"value":"EUR 5,000 (on registration and each year)","source":"https://legislation.mt/getpdf/678e17bf0dba9f09507842db","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding needs the MFSA's prior approval. For payment and e-money institutions the Financial Institutions Act sets the thresholds at 20%, 30% and 50%; for banks the Banking Act adds a 60-working-day assessment period that can be extended.","source":"https://legislation.mt/getpdf/683418610db9942428cf9d49","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://euclid.eba.europa.eu/register/downloads/PSDMD/20260924/download-PSDMD-202609240000.zip","source":"https://euclid.eba.europa.eu/register/downloads/PSDMD/20260924/download-PSDMD-202609240000.zip","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":1,"source":"https://euclid.eba.europa.eu/register/downloads/PSDMD/20260924/download-PSDMD-202609240000.zip","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"1 account information service provider registered under Malta Financial Services Authority in EBA PSDMD register"},"answer":"The Account information service provider registration is issued by Malta Financial Services Authority (MFSA) under Directive (EU) 2015/2366 on payment services in the internal market (PSD2). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 1 current holder. The application fee is EUR 1,000. Ownership changes need the regulator's approval before completion.","derived_from":"mfsa-malta","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/malta-aisp/","jurisdiction_name":"Malta","region":"eu-eea","regulator_name":"MFSA","regulator_url":"/licensing/regulators/mfsa-malta/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--MT","family":"payment-institution","jurisdiction":"MT","regulator_id":"mfsa-malta","official_name":{"value":"Payment institution licence","source":"https://legislation.mt/getpdf/683418610db9942428cf9d49","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"licence to provide payment services"},"legal_basis":[{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 10,000","source":"https://legislation.mt/getpdf/678e17bf0dba9f09507842db","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"ten thousand euro (€10,000)"},"annual":{"value":"EUR 15,000 + 0.02% of total assets (max EUR 250,000) for payment services only; EUR 25,000 base where e-money-related activity is added","source":"https://legislation.mt/getpdf/678e17bf0dba9f09507842db","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application","source":"https://legislation.mt/getpdf/683418610db9942428cf9d49","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within three months of receipt of the application"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding needs the MFSA's prior approval. For payment and e-money institutions the Financial Institutions Act sets the thresholds at 20%, 30% and 50%; for banks the Banking Act adds a 60-working-day assessment period that can be extended.","source":"https://legislation.mt/getpdf/683418610db9942428cf9d49","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://euclid.eba.europa.eu/register/downloads/PSDMD/20260924/download-PSDMD-202609240000.zip","source":"https://euclid.eba.europa.eu/register/downloads/PSDMD/20260924/download-PSDMD-202609240000.zip","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":50,"source":"https://euclid.eba.europa.eu/register/downloads/PSDMD/20260924/download-PSDMD-202609240000.zip","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"50 payment institutions registered under Malta Financial Services Authority in EBA PSDMD register"},"answer":"The Payment institution licence is issued by Malta Financial Services Authority (MFSA) under Directive (EU) 2015/2366 on payment services in the internal market (PSD2). It can be passported to the other EU/EEA states by notification. The official register lists 50 current holders. The legal decision period is 3 months from receipt of a complete application. The application fee is EUR 10,000. Ownership changes need the regulator's approval before completion.","derived_from":"mfsa-malta","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/malta/","jurisdiction_name":"Malta","region":"eu-eea","regulator_name":"MFSA","regulator_url":"/licensing/regulators/mfsa-malta/","family_short":"PI","capital_eur":null,"months":3},{"id":"payment-institution--NL--exempt","family":"payment-institution","jurisdiction":"NL","regulator_id":"dnb-netherlands","official_name":{"value":"Exempt payment service provider registration (Vrijstelling betaaldienstverlener)","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-sectors/payment-institutions/licensing-requirement-for-payment-service-providers-overview/exemption-from-the-authorisation-requirement/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Exemption from the authorisation requirement"},"legal_basis":[{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 3:95 Wft and MiCA Articles 41 and 83, acquiring, increasing, or disposing of a qualifying holding (direct or indirect holding of 10% or more of voting rights or shares, or exercising significant influence) in a payment institution, EMI, or ART issuer requires a prior Declaration of No-Objection (DNO / VVGB) from DNB (the ECB assesses banks). Threshold bandwidth upper limits are set at 20%, 30/33%, 50%, or 100%. The statutory decision period is 60 working days from receipt of a complete application, extendable once by up to 30 working days for RFIs, governed by lex silencio positivo.","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-themes/declaration-of-no-objection/dno-application-time-frame/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The statutory decision period for a DNO application is 60 working days"}},"answer":"The Exempt payment service provider registration (Vrijstelling betaaldienstverlener) is issued by De Nederlandsche Bank (DNB) under Directive (EU) 2015/2366 on payment services in the internal market (PSD2). It is a national licence: it does not give a passport to other EU/EEA states. Ownership changes need the regulator's approval before completion.","derived_from":"dnb-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/netherlands-exempt/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"DNB","regulator_url":"/licensing/regulators/dnb-netherlands/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--NL","family":"payment-institution","jurisdiction":"NL","regulator_id":"dnb-netherlands","official_name":{"value":"Payment institution licence (Vergunning betaalinstelling)","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-sectors/payment-institutions/licensing-requirement-for-payment-service-providers-overview/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensing requirement for payment service providers"},"legal_basis":[{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 6,800","source":"https://wetten.overheid.nl/BWBR0041647/2024-12-30","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Wft.D1.01 ... € 6.800"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-sectors/payment-institutions/licensing-requirement-for-payment-service-providers-overview/application-process-timeline/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The statutory consideration period for a licence application for payment service providers is three months."}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 3:95 Wft and MiCA Articles 41 and 83, acquiring, increasing, or disposing of a qualifying holding (direct or indirect holding of 10% or more of voting rights or shares, or exercising significant influence) in a payment institution, EMI, or ART issuer requires a prior Declaration of No-Objection (DNO / VVGB) from DNB (the ECB assesses banks). Threshold bandwidth upper limits are set at 20%, 30/33%, 50%, or 100%. The statutory decision period is 60 working days from receipt of a complete application, extendable once by up to 30 working days for RFIs, governed by lex silencio positivo.","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-themes/declaration-of-no-objection/dno-application-time-frame/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The statutory decision period for a DNO application is 60 working days"}},"answer":"The Payment institution licence (Vergunning betaalinstelling) is issued by De Nederlandsche Bank (DNB) under Directive (EU) 2015/2366 on payment services in the internal market (PSD2). It can be passported to the other EU/EEA states by notification. The legal decision period is 3 months from receipt of a complete application. The application fee is EUR 6,800. Ownership changes need the regulator's approval before completion.","derived_from":"dnb-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/netherlands/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"DNB","regulator_url":"/licensing/regulators/dnb-netherlands/","family_short":"PI","capital_eur":null,"months":3},{"id":"payment-institution--PL--aisp","family":"payment-institution","jurisdiction":"PL","regulator_id":"knf-poland","official_name":{"value":"Account Information Service Provider registration (dostawca świadczący wyłącznie usługę dostępu do informacji o rachunku - AISP)","source":"https://e-rup.knf.gov.pl/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Rejestr dostawców świadczących wyłącznie usługę dostępu do informacji o rachunku"},"legal_basis":[{"value":"Act on Payment Services of 19 August 2011","source":"https://dziennikustaw.gov.pl/DU/2024/30","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["pl-payment-services-act-2011","eu-psd2-2015-2366"],"activity_ids":["account-information"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding needs prior notification to the KNF, which can object within 60 working days (extendable by up to 20 working days while it waits for information). For national payment institutions the thresholds are 20%, 30% and 50% (Payment Services Act, Art. 72a); for banks they are 10%, 20%, one third and 50% (Banking Law, Art. 25). Shares acquired in breach carry no voting rights.","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The Account Information Service Provider registration (dostawca świadczący wyłącznie usługę dostępu do informacji o rachunku - AISP) is issued by Polish Financial Supervision Authority (KNF) under Act on Payment Services of 19 August 2011. It is a national licence: it does not give a passport to other EU/EEA states. Ownership changes need the regulator's approval before completion.","derived_from":"knf-poland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/poland-aisp/","jurisdiction_name":"Poland","region":"eu-eea","regulator_name":"KNF","regulator_url":"/licensing/regulators/knf-poland/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--PL--kip","family":"payment-institution","jurisdiction":"PL","regulator_id":"knf-poland","official_name":{"value":"National Payment Institution licence (krajowa instytucja płatnicza - KIP)","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/wstep","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"zezwolenie na świadczenie usług płatniczych w charakterze krajowej instytucji płatniczej"},"legal_basis":[{"value":"Act on Payment Services of 19 August 2011","source":"https://dziennikustaw.gov.pl/DU/2024/30","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["pl-payment-services-act-2011","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","fees":{"application":{"value":"EUR 1,250 equivalent in PLN","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/oplaty_i_koszty","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"równowartości w złotych kwoty 1250 euro"}},"timelines":{"statutory":{"value":"3 months from a complete application","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"terminie 3 miesięcy od dnia otrzymania wniosku lub jego uzupełnienia"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding needs prior notification to the KNF, which can object within 60 working days (extendable by up to 20 working days while it waits for information). For national payment institutions the thresholds are 20%, 30% and 50% (Payment Services Act, Art. 72a); for banks they are 10%, 20%, one third and 50% (Banking Law, Art. 25). Shares acquired in breach carry no voting rights.","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The National Payment Institution licence (krajowa instytucja płatnicza - KIP) is issued by Polish Financial Supervision Authority (KNF) under Act on Payment Services of 19 August 2011. It is a national licence: it does not give a passport to other EU/EEA states. The legal decision period is 3 months from a complete application. The application fee is EUR 1,250 equivalent in PLN. Ownership changes need the regulator's approval before completion.","derived_from":"knf-poland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/poland-kip/","jurisdiction_name":"Poland","region":"eu-eea","regulator_name":"KNF","regulator_url":"/licensing/regulators/knf-poland/","family_short":"PI","capital_eur":null,"months":3},{"id":"payment-institution--PL--mip","family":"payment-institution","jurisdiction":"PL","regulator_id":"knf-poland","official_name":{"value":"Small Payment Institution registration (mała instytucja płatnicza - MIP)","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/MIP/Rejestracja_MIP","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Wpis do rejestru małych instytucji płatniczych"},"legal_basis":[{"value":"Act on Payment Services of 19 August 2011","source":"https://dziennikustaw.gov.pl/DU/2024/30","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["pl-payment-services-act-2011","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","fees":{"application":{"value":"PLN 616","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/MIP/Rejestracja_MIP","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"opłata skarbowa w wysokości 616 zł"}},"timelines":{"statutory":{"value":"3 months from a complete application","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/MIP/Rejestracja_MIP","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"terminie 3 miesięcy od dnia wpływu wniosku lub jego uzupełnienia"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding needs prior notification to the KNF, which can object within 60 working days (extendable by up to 20 working days while it waits for information). For national payment institutions the thresholds are 20%, 30% and 50% (Payment Services Act, Art. 72a); for banks they are 10%, 20%, one third and 50% (Banking Law, Art. 25). Shares acquired in breach carry no voting rights.","source":"https://www.knf.gov.pl/dla_rynku/procesy_licencyjne/platniczy/krajowe_instytucje_platnicze/zezwolenie_rozpatrywanie_wniosku","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The Small Payment Institution registration (mała instytucja płatnicza - MIP) is issued by Polish Financial Supervision Authority (KNF) under Act on Payment Services of 19 August 2011. It is a national licence: it does not give a passport to other EU/EEA states. The legal decision period is 3 months from a complete application. The application fee is PLN 616. Ownership changes need the regulator's approval before completion.","derived_from":"knf-poland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/poland-mip/","jurisdiction_name":"Poland","region":"eu-eea","regulator_name":"KNF","regulator_url":"/licensing/regulators/knf-poland/","family_short":"PI","capital_eur":null,"months":3},{"id":"payment-institution--SG--mpi","family":"payment-institution","jurisdiction":"SG","regulator_id":"mas-singapore","official_name":{"value":"Major Payment Institution Licence","source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Major Payment Institution 244"},"legal_basis":[{"value":"Payment Services Act 2019","source":"https://sso.agc.gov.sg/Act/PSA2019","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Payment Services Regulations 2019","source":"https://sso.agc.gov.sg/SL/PSA2019-RG2","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sg-payment-services-act-2019","sg-payment-services-regulations-2019"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","fees":{"application":{"value":"SGD 1,500","source":"https://sso.agc.gov.sg/SL/PSA2019-RG2","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Major payment institution licence"},"annual":{"value":"SGD 10,000","source":"https://sso.agc.gov.sg/SL/PSA2019-RG2","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"annual fee"}},"timelines":{"statutory":{"value":"None stated in the Act (determined upon completion of assessment)","source":"https://sso.agc.gov.sg/Act/PSA2019","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 28 of the Payment Services Act 2019, prior written approval from MAS is required before a person becomes a 20% controller of a licensee (holding 20% or more of shares or voting power, or exercising effective control / power to determine policy). Under Section 97A of the Securities and Futures Act 2001 (as amended by Act 12 of 2024 effective 24 January 2025), prior written approval is required before obtaining effective control of a CMS licensee (20% share capital or voting power, or power to direct policy). Applications are submitted online via MAS-Tx (Form 3A for PSA, Form under SFA s.97A). Incurring control without MAS prior approval constitutes a criminal offence punishable by fine up to SGD 150,000 and/or imprisonment.","source":"https://sso.agc.gov.sg/Act/PSA2019","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Control of shareholding in licensee"}},"register_url":{"value":"https://eservices.mas.gov.sg/fid/institution","source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":244,"source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Major Payment Institution 244"},"answer":"The Major Payment Institution Licence is issued by Monetary Authority of Singapore (MAS) under Payment Services Act 2019. The official register lists 244 current holders. The legal decision period is None stated in the Act (determined upon completion of assessment). The application fee is SGD 1,500. Ownership changes need the regulator's approval before completion.","derived_from":"mas-singapore","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/singapore-mpi/","jurisdiction_name":"Singapore","region":"apac","regulator_name":"MAS","regulator_url":"/licensing/regulators/mas-singapore/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--SG--spi","family":"payment-institution","jurisdiction":"SG","regulator_id":"mas-singapore","official_name":{"value":"Standard Payment Institution Licence","source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Standard Payment Institution 13"},"legal_basis":[{"value":"Payment Services Act 2019","source":"https://sso.agc.gov.sg/Act/PSA2019","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Payment Services Regulations 2019","source":"https://sso.agc.gov.sg/SL/PSA2019-RG2","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sg-payment-services-act-2019","sg-payment-services-regulations-2019"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"none","fees":{"application":{"value":"SGD 1,000","source":"https://sso.agc.gov.sg/SL/PSA2019-RG2","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Standard payment institution licence"},"annual":{"value":"SGD 5,000","source":"https://sso.agc.gov.sg/SL/PSA2019-RG2","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"timelines":{"statutory":{"value":"None stated in the Act (determined upon completion of assessment)","source":"https://sso.agc.gov.sg/Act/PSA2019","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 28 of the Payment Services Act 2019, prior written approval from MAS is required before a person becomes a 20% controller of a licensee (holding 20% or more of shares or voting power, or exercising effective control / power to determine policy). Under Section 97A of the Securities and Futures Act 2001 (as amended by Act 12 of 2024 effective 24 January 2025), prior written approval is required before obtaining effective control of a CMS licensee (20% share capital or voting power, or power to direct policy). Applications are submitted online via MAS-Tx (Form 3A for PSA, Form under SFA s.97A). Incurring control without MAS prior approval constitutes a criminal offence punishable by fine up to SGD 150,000 and/or imprisonment.","source":"https://sso.agc.gov.sg/Act/PSA2019","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Control of shareholding in licensee"}},"register_url":{"value":"https://eservices.mas.gov.sg/fid/institution","source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":13,"source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Standard Payment Institution 13"},"answer":"The Standard Payment Institution Licence is issued by Monetary Authority of Singapore (MAS) under Payment Services Act 2019. The official register lists 13 current holders. The legal decision period is None stated in the Act (determined upon completion of assessment). The application fee is SGD 1,000. Ownership changes need the regulator's approval before completion.","derived_from":"mas-singapore","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/singapore-spi/","jurisdiction_name":"Singapore","region":"apac","regulator_name":"MAS","regulator_url":"/licensing/regulators/mas-singapore/","family_short":"PI","capital_eur":null,"months":null},{"id":"payment-institution--SK","family":"payment-institution","jurisdiction":"SK","regulator_id":"nbs-slovakia","official_name":{"value":"Payment institution licence (povolenie na poskytovanie platobných služieb bez obmedzenia rozsahu)","source":"https://subjekty.nbs.sk/?c=938","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Platobné inštitúcie"},"legal_basis":[{"value":"Act No 492/2009 on payment services (and amending certain laws)","source":"https://www.slov-lex.sk/pravne-predpisy/SK/ZZ/2009/492/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/2366 on payment services in the internal market (PSD2)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sk-act-492-2009","eu-psd2-2015-2366"],"activity_ids":["payment-execution","money-remittance","card-issuing-acquiring","payment-initiation","account-information"],"passporting":"eu-eea","timelines":{"statutory":{"value":"3 months from receipt of a complete application, extendable by 1 month (Act No. 492/2009 Coll. on payment services, § 67(3))","source":"https://www.slov-lex.sk/pravne-predpisy/SK/ZZ/2009/492/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":null},"answer":"The Payment institution licence (povolenie na poskytovanie platobných služieb bez obmedzenia rozsahu) is issued by National Bank of Slovakia (NBS) under Act No 492/2009 on payment services (and amending certain laws). It can be passported to the other EU/EEA states by notification. The legal decision period is 3 months from receipt of a complete application, extendable by 1 month (Act No. 492/2009 Coll. on payment services, § 67(3)).","derived_from":"nbs-slovakia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/payment-institution/slovakia/","jurisdiction_name":"Slovakia","region":"eu-eea","regulator_name":"NBS","regulator_url":"/licensing/regulators/nbs-slovakia/","family_short":"PI","capital_eur":null,"months":3},{"id":"stablecoin-issuer--AE","family":"stablecoin-issuer","jurisdiction":"AE","regulator_id":"cbuae","official_name":{"value":"Payment Token Issuer Licence (Dirham Payment Tokens)","source":"https://rulebook.centralbank.ae/en/entiresection/5731","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Payment Token Issuer Licensing Criteria"},"legal_basis":[{"value":"Payment Token Services Regulation (Circular No. 2/2024)","source":"https://rulebook.centralbank.ae/en/entiresection/5731","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-cbuae-ptsr-2-2024"],"activity_ids":["emt-issuance","art-issuance"],"passporting":"none","timelines":{"statutory":{"value":"60 working days from the date of meeting all licensing conditions and requirements","source":"https://rulebook.centralbank.ae/en/entiresection/6185","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within a period not exceeding sixty (60) working days from the date of meeting"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Article 120 of Federal Decree-Law No. (6) of 2025, no person may acquire, transfer, or increase a controlling interest in a Licensed Financial Institution without obtaining prior written approval from the CBUAE. Controlling interest thresholds are established at 10% of shares or voting rights for Payment Token Service Providers (PTSR Circular 2/2024 Art. 1.17) and 20% for Retail Payment Service Providers (RPSCS Circular 15/2021 Art. 1 and Art. 8), or any holding conferring de facto control or board appointment rights. Unauthorised acquisitions are legally void, empowering the CBUAE to revoke voting rights and mandate the forced disposal of excess shares.","source":"https://rulebook.centralbank.ae/en/entiresection/6185","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No person may acquire or transfer any Controlling Interest in a Licensed Financial Institution"}},"register_url":{"value":"https://centralbank.ae/media/1z4gwagt/cb-register-june-2025.pdf","source":"https://centralbank.ae/media/1z4gwagt/cb-register-june-2025.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":"1 (June 2025 CBUAE register)","source":"https://centralbank.ae/media/1z4gwagt/cb-register-june-2025.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Payment Token Issuer Licence (Dirham Payment Tokens) is issued by Central Bank of the UAE (CBUAE) under Payment Token Services Regulation (Circular No. 2/2024). The official CBUAE register listed 1 holder in June 2025. The legal decision period is 60 working days from the date of meeting all licensing conditions and requirements. Ownership changes need the regulator's approval before completion.","derived_from":"cbuae","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/stablecoin-issuer/uae/","jurisdiction_name":"United Arab Emirates","region":"middle-east","regulator_name":"CBUAE","regulator_url":"/licensing/regulators/cbuae/","family_short":"EMT/ART","capital_eur":null,"months":2.8},{"id":"stablecoin-issuer--ES","family":"stablecoin-issuer","jurisdiction":"ES","regulator_id":"banco-de-espana","official_name":{"value":"Emisor de fichas de dinero electrónico (EMT) y de fichas referenciadas a activos (ART) bajo MiCA / MiCA EMT and ART token issuer authorization","source":"https://sedeelectronica.bde.es/sede/es/tablon/aplicacion-del-reglamento-relativo-a-los-mercados-de-criptoactiv.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"emisores de ART y EMT"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["emt-issuance","art-issuance"],"passporting":"eu-eea","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person intending to acquire or increase, directly or indirectly, a qualifying holding reaching or exceeding 10%, 20%, 30%, or 50% of the share capital or voting rights, or to acquire control of an electronic money institution, payment institution, or credit financial establishment, must submit prior notification to Banco de España under Procedure ES_BDE_C056_P247 (or ES_BDE_C056_P114 for banks). Banco de España assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory maximum period of 60 working days from written acknowledgement of receipt. Closing without non-opposition suspends voting rights and triggers administrative penalties under Ley 10/2014 and Real Decreto 736/2019.","source":"https://sedeelectronica.bde.es/sede/es/tramites/adquisicion-participaciones-significativas-establecimientos-p247.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"60 días hábiles, a contar desde la fecha en que el Banco de España haya"}},"answer":"The Emisor de fichas de dinero electrónico (EMT) y de fichas referenciadas a activos (ART) bajo MiCA / MiCA EMT and ART token issuer authorization is issued by Bank of Spain (BdE) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. Ownership changes need the regulator's approval before completion.","derived_from":"banco-de-espana","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/stablecoin-issuer/spain/","jurisdiction_name":"Spain","region":"eu-eea","regulator_name":"BdE","regulator_url":"/licensing/regulators/banco-de-espana/","family_short":"EMT/ART","capital_eur":null,"months":null},{"id":"stablecoin-issuer--LU","family":"stablecoin-issuer","jurisdiction":"LU","regulator_id":"cssf-luxembourg","official_name":{"value":"Electronic money token issuer authorisation / notification under MiCA Regulation","source":"https://www.cssf.lu/en/markets-in-crypto-assets-mica-micar/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Markets in Crypto-Assets Regulation (MiCA)"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["emt-issuance","art-issuance"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 5,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"A fee of EUR 5,000 shall be paid upon the official notification"},"annual":{"value":"EUR 15,000","source":"https://www.cssf.lu/wp-content/uploads/GDR_231222_CSSF_fees.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"an annual lump sum of EUR 15,000 to be paid by each electronic money"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or causing an entity to become a subsidiary, requires prior written notification to the CSSF. The CSSF conducts a prudential assessment of acquirer suitability, reputation, financial soundness, and AML risk within 60 working days (interruptible once by up to 20 working days, or 30 working days for non-EU acquirers) under Articles 18 and 18-1 of the Law of 5 April 1993, Article 12 of the Law of 10 November 2009, Article 83 of Regulation (EU) 2023/1114 (MiCA), and Circular CSSF 17/669 adopting the Joint ESA Guidelines.","source":"https://www.cssf.lu/en/Document/circular-cssf-17-669/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Adoption of the Joint Guidelines of ESMA, EBA and EIOPA on the prudential assessment"}},"register_url":{"value":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=EMONEY_TOKEN","source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=EMONEY_TOKEN","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":3,"source":"https://searchentities.apps.cssf.lu/search-entities-api/api/v1/entite?page=0&size=5&st=advanced&entType=EMONEY_TOKEN","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"totalElements: 3"},"answer":"The Electronic money token issuer authorisation / notification under MiCA Regulation is issued by Commission de Surveillance du Secteur Financier (CSSF) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The official register lists 3 current holders. The application fee is EUR 5,000. Ownership changes need the regulator's approval before completion.","derived_from":"cssf-luxembourg","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/stablecoin-issuer/luxembourg/","jurisdiction_name":"Luxembourg","region":"eu-eea","regulator_name":"CSSF","regulator_url":"/licensing/regulators/cssf-luxembourg/","family_short":"EMT/ART","capital_eur":null,"months":null},{"id":"stablecoin-issuer--NL--art","family":"stablecoin-issuer","jurisdiction":"NL","regulator_id":"dnb-netherlands","official_name":{"value":"Asset-referenced token (ART) issuer licence under EU MiCA","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"authorisation of asset-referenced tokens"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["emt-issuance","art-issuance"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 10,000","source":"https://wetten.overheid.nl/BWBR0041647/2024-12-30","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"EU.D1.02 ... € 10.000"}},"timelines":{"statutory":{"value":"25 working days to assess completeness, then 60 working days to draft assessment for EBA/ECB, total statutory decision within 4 months","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 25 working days of receipt of the application"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 3:95 Wft and MiCA Articles 41 and 83, acquiring, increasing, or disposing of a qualifying holding (direct or indirect holding of 10% or more of voting rights or shares, or exercising significant influence) in a payment institution, EMI, or ART issuer requires a prior Declaration of No-Objection (DNO / VVGB) from DNB (the ECB assesses banks). Threshold bandwidth upper limits are set at 20%, 30/33%, 50%, or 100%. The statutory decision period is 60 working days from receipt of a complete application, extendable once by up to 30 working days for RFIs, governed by lex silencio positivo.","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-themes/declaration-of-no-objection/dno-application-time-frame/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The statutory decision period for a DNO application is 60 working days"}},"answer":"The Asset-referenced token (ART) issuer licence under EU MiCA is issued by De Nederlandsche Bank (DNB) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The legal decision period is 25 working days to assess completeness, then 60 working days to draft assessment for EBA/ECB, total statutory decision within 4 months. The application fee is EUR 10,000.","derived_from":"dnb-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/stablecoin-issuer/netherlands-art/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"DNB","regulator_url":"/licensing/regulators/dnb-netherlands/","family_short":"EMT/ART","capital_eur":null,"months":1.2},{"id":"stablecoin-issuer--NL--emt","family":"stablecoin-issuer","jurisdiction":"NL","regulator_id":"dnb-netherlands","official_name":{"value":"E-money token (EMT) issuer notification under EU MiCA","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"issuance of e-money tokens"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114"],"activity_ids":["emt-issuance","art-issuance"],"passporting":"eu-eea","fees":{"application":{"value":"EUR 3,200","source":"https://wetten.overheid.nl/BWBR0041647/2024-12-30","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"EU.D1.03 ... € 3.200"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 3:95 Wft and MiCA Articles 41 and 83, acquiring, increasing, or disposing of a qualifying holding (direct or indirect holding of 10% or more of voting rights or shares, or exercising significant influence) in a payment institution, EMI, or ART issuer requires a prior Declaration of No-Objection (DNO / VVGB) from DNB (the ECB assesses banks). Threshold bandwidth upper limits are set at 20%, 30/33%, 50%, or 100%. The statutory decision period is 60 working days from receipt of a complete application, extendable once by up to 30 working days for RFIs, governed by lex silencio positivo.","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-themes/declaration-of-no-objection/dno-application-time-frame/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The statutory decision period for a DNO application is 60 working days"}},"answer":"The E-money token (EMT) issuer notification under EU MiCA is issued by De Nederlandsche Bank (DNB) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. The application fee is EUR 3,200. Ownership changes need the regulator's approval before completion.","derived_from":"dnb-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/stablecoin-issuer/netherlands-emt/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"DNB","regulator_url":"/licensing/regulators/dnb-netherlands/","family_short":"EMT/ART","capital_eur":null,"months":null},{"id":"trust-company--CH","family":"trust-company","jurisdiction":"CH","regulator_id":"finma-switzerland","official_name":{"value":"Trustee licence (Trustee nach Art. 17 FINIG)","source":"https://www.finma.ch/en/authorisation/portfolio-managers-and-trustees/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Trustees"},"legal_basis":[{"value":"Federal Act on Financial Institutions (Financial Institutions Act, FinIA, SR 954.1)","source":"https://www.fedlex.admin.ch/eli/cc/2018/801/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ch-financial-institutions-act"],"activity_ids":["trust-corporate-services"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"A qualifying participation is defined as directly or indirectly holding at least 10% of the capital or voting rights, or otherwise exerting a significant influence over the company (BankA Art. 3 para. 2 let. c; FinIA Art. 11 para. 1). Notification to FINMA is mandatory prior to acquiring, disposing of, or reaching, exceeding, or falling below the statutory thresholds of 10%, 20%, 33%, or 50% (BankA Art. 3 para. 5; BankO Art. 8a; FinIA Art. 11 para. 4). For FinTech licence holders (Art. 1b BankA), FINMA's FinTech Licensing Guidelines explicitly mandate prior formal approval before completing any change in qualified participations. Furthermore, when foreign control is established or modified in a Swiss bank or securities firm, a supplementary licence (Zusatzbewilligung) is mandatory under BankA Art. 3bis. For SRO-affiliated financial intermediaries, Art. 6 para. 2 of SRO regulations (e.g. VQF) mandates prior written notice and SRO approval before transferring qualified holdings.","source":"https://www.finma.ch/en/authorisation/fintech/fintech-bewilligung/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Changes to qualified participations require prior approval"}},"register_url":{"value":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/vvtr.pdf","source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/vvtr.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":159,"source":"https://www.finma.ch/de/~/media/finma/dokumente/bewilligungstraeger/pdf/vvtr.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Trustees"},"answer":"The Trustee licence (Trustee nach Art. 17 FINIG) is issued by Swiss Financial Market Supervisory Authority (FINMA) under Federal Act on Financial Institutions (Financial Institutions Act, FinIA, SR 954.1). The official register lists 159 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"finma-switzerland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/trust-company/switzerland/","jurisdiction_name":"Switzerland","region":"europe-non-eu","regulator_name":"FINMA","regulator_url":"/licensing/regulators/finma-switzerland/","family_short":"TCSP","capital_eur":null,"months":null},{"id":"trust-company--CY--asp","family":"trust-company","jurisdiction":"CY","regulator_id":"cysec-cyprus","official_name":{"value":"Administrative Services Provider (ASP) authorisation","source":"https://www.cysec.gov.cy/en-GB/entities/asp/list/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Approved ASP"},"legal_basis":[{"value":"The Regulating Companies Providing Administrative Services and Related Matters Law of 2012 (Law 196(I)/2012)","source":"https://www.cysec.gov.cy/en-GB/legislation/services-markets/asp/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["cy-asp-law-2012-196i"],"activity_ids":["trust-corporate-services"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Any natural or legal person proposing to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% in a CIF, AIFM, or CASP, or to achieve control making it a subsidiary, must submit prior written notification to CySEC under Sections 12 and 13 of Law 87(I)/2017 and MiCA Article 83. CySEC acknowledges receipt within two working days and has a statutory assessment period of 60 working days to oppose the acquisition based on reputation, financial soundness, AML risks, and fit-and-proper criteria. The assessment period may be interrupted once by up to 20 working days (or 30 working days for non-EU entities) to request additional information. If CySEC does not object in writing before expiry, the transaction is deemed approved. Closing without CySEC non-opposition suspends voting rights and risks statutory penalties.","source":"https://www.cylaw.org/nomoi/enop/non-ind/2017_1_87/full.html","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"register_url":{"value":"https://www.cysec.gov.cy/en-GB/entities/asp/list/","source":"https://www.cysec.gov.cy/en-GB/entities/asp/list/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":126,"source":"https://www.cysec.gov.cy/en-GB/entities/asp/list/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Approved ASP"},"answer":"The Administrative Services Provider (ASP) authorisation is issued by Cyprus Securities and Exchange Commission (CySEC) under The Regulating Companies Providing Administrative Services and Related Matters Law of 2012 (Law 196(I)/2012). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 126 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"cysec-cyprus","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/trust-company/cyprus-asp/","jurisdiction_name":"Cyprus","region":"eu-eea","regulator_name":"CySEC","regulator_url":"/licensing/regulators/cysec-cyprus/","family_short":"TCSP","capital_eur":null,"months":null},{"id":"trust-company--EE","family":"trust-company","jurisdiction":"EE","regulator_id":"fiu-estonia","official_name":{"value":"Authorisation for providing trust and company services (Tegevusluba usaldushaldusteenuse ja äriühinguteenuse osutamiseks)","source":"https://fiu.ee/en/authorisation-economic-activity/authorisation-economic-activity","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"providing trust and company services"},"legal_basis":[{"value":"Money Laundering and Terrorist Financing Prevention Act (Rahapesu ja terrorismi rahastamise tõkestamise seadus)","source":"https://www.riigiteataja.ee/en/eli/ee/524032022001/consolide/current","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AMLD IV)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L0849","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2024/1624 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AMLR)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32024R1624","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ee-money-laundering-and-terrorist-financing-prevention-act","eu-amld-2015-849","eu-amlr-2024-1624"],"activity_ids":["trust-corporate-services"],"passporting":"none","fees":{"application":{"value":"EUR 345","source":"https://fiu.ee/en/authorisation-economic-activity/state-fee","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"345 euros for other types of activity licence"},"annual":{"value":"EUR 0 (no annual supervisory fee; no state fee applies for licence amendment)","source":"https://fiu.ee/en/authorisation-economic-activity/state-fee","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No state fee will apply for the review of an application for amendment"}},"timelines":{"statutory":{"value":"60 working days as of the date of submission of the application","source":"https://fiu.ee/en/authorisation-economic-activity/process-application","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"within 60 working days as of the date of submission of the application"}},"change_of_control":{"approval_type":"notification","summary":{"value":"Under Section 30 of the General Part of the Economic Activities Code Act and Section 70 of the MLTFPA, licensees must notify changes in beneficial owners (>25% shareholding or control), management board members, procurators, or compliance officers via the Register of Economic Activities (MTR). The FIU conducts fit and proper checks on new owners and managers to ensure impeccable reputation and absence of criminal convictions; failure to satisfy requirements initiates licence revocation proceedings under MLTFPA Section 76.","source":"https://fiu.ee/en/authorisation-economic-activity/process-application","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Pursuant to subsection 30 (6) of the General Part of the Economic Activities Code Act"}},"answer":"The Authorisation for providing trust and company services (Tegevusluba usaldushaldusteenuse ja äriühinguteenuse osutamiseks) is issued by Estonian Financial Intelligence Unit (FIU) under Money Laundering and Terrorist Financing Prevention Act (Rahapesu ja terrorismi rahastamise tõkestamise seadus). It is a national licence: it does not give a passport to other EU/EEA states. The legal decision period is 60 working days as of the date of submission of the application. The application fee is EUR 345.","derived_from":"fiu-estonia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/trust-company/estonia/","jurisdiction_name":"Estonia","region":"eu-eea","regulator_name":"FIU","regulator_url":"/licensing/regulators/fiu-estonia/","family_short":"TCSP","capital_eur":null,"months":2.8},{"id":"trust-company--KY","family":"trust-company","jurisdiction":"KY","regulator_id":"cima-cayman","official_name":{"value":"Trust Licence / Nominee Trust Company Licence under the Banks and Trust Companies Act","source":"https://www.cima.ky/banking-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Banks and Trust Companies Act (2025 Revision)","source":"https://www.cima.ky/acts-and-regulations","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ky-banks-and-trust-companies-act"],"activity_ids":["trust-corporate-services"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under s.28(1) of the VASP Act, CIMA's prior approval is required before any issue or voluntary transfer of shares/interests reaching 10% or more of a VASP; the acquirer must file a Personal Questionnaire and fitness documentation. Acting without approval is an offence, and CIMA may also take action against the licence. Other CIMA-regulated entities (banks, trust companies, mutual fund administrators, securities licensees) face a stricter 0% threshold — any transfer needs prior approval.","source":"https://maples.com/knowledge/cima-change-of-control-process-a-guide-for-cayman-islands-regulated-entities","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Asset Service Providers require prior approval only when transfers exceed 10%"}},"register_url":{"value":"https://www.cima.ky/banking-statistics","source":"https://www.cima.ky/banking-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":11,"source":"https://www.cima.ky/banking-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Nominee Trust Companies: 11","open_question":"Figure covers nominee trust companies only; total trust licensee count (incl. general and restricted trust licences) not located."},"answer":"The Trust Licence / Nominee Trust Company Licence under the Banks and Trust Companies Act is issued by Cayman Islands Monetary Authority (CIMA) under Banks and Trust Companies Act (2025 Revision). The official register lists 11 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"cima-cayman","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/trust-company/cayman-islands/","jurisdiction_name":"Cayman Islands","region":"offshore","regulator_name":"CIMA","regulator_url":"/licensing/regulators/cima-cayman/","family_short":"TCSP","capital_eur":null,"months":null},{"id":"trust-company--MT--csp","family":"trust-company","jurisdiction":"MT","regulator_id":"mfsa-malta","official_name":{"value":"Company service provider authorisation (Class A, B, or C)","source":"https://legislation.mt/getpdf/68b0055122d5d3205815a69d","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Class A CSP or Class B CSP"},"legal_basis":[{"value":"Company Service Providers Act (Cap. 529)","source":"https://legislation.mt/getpdf/68b0055122d5d3205815a69d","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mt-company-service-providers-act"],"activity_ids":["trust-corporate-services"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquiring or increasing a qualifying holding needs the MFSA's prior approval. For payment and e-money institutions the Financial Institutions Act sets the thresholds at 20%, 30% and 50%; for banks the Banking Act adds a 60-working-day assessment period that can be extended.","source":"https://legislation.mt/getpdf/683418610db9942428cf9d49","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"answer":"The Company service provider authorisation (Class A, B, or C) is issued by Malta Financial Services Authority (MFSA) under Company Service Providers Act (Cap. 529). It is a national licence: it does not give a passport to other EU/EEA states. Ownership changes need the regulator's approval before completion.","derived_from":"mfsa-malta","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/trust-company/malta-csp/","jurisdiction_name":"Malta","region":"eu-eea","regulator_name":"MFSA","regulator_url":"/licensing/regulators/mfsa-malta/","family_short":"TCSP","capital_eur":null,"months":null},{"id":"trust-company--NL","family":"trust-company","jurisdiction":"NL","regulator_id":"dnb-netherlands","official_name":{"value":"Trust office licence (Vergunning trustkantoor)","source":"https://wetten.overheid.nl/BWBR0041583","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Wet toezicht trustkantoren 2018"},"legal_basis":[{"value":"Trust Offices Supervision Act 2018 (Wet toezicht trustkantoren 2018 - Wtt 2018)","source":"https://wetten.overheid.nl/BWBR0041583","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["nl-trust-offices-supervision-act-2018"],"activity_ids":["trust-corporate-services"],"passporting":"none","fees":{"application":{"value":"EUR 4,500","source":"https://wetten.overheid.nl/BWBR0041647/2024-12-30","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Wtt.D1.01 ... € 4.500"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 3:95 Wft and MiCA Articles 41 and 83, acquiring, increasing, or disposing of a qualifying holding (direct or indirect holding of 10% or more of voting rights or shares, or exercising significant influence) in a payment institution, EMI, or ART issuer requires a prior Declaration of No-Objection (DNO / VVGB) from DNB (the ECB assesses banks). Threshold bandwidth upper limits are set at 20%, 30/33%, 50%, or 100%. The statutory decision period is 60 working days from receipt of a complete application, extendable once by up to 30 working days for RFIs, governed by lex silencio positivo.","source":"https://www.dnb.nl/en/sector-information/open-book-supervision/open-book-supervision-themes/declaration-of-no-objection/dno-application-time-frame/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"The statutory decision period for a DNO application is 60 working days"}},"answer":"The Trust office licence (Vergunning trustkantoor) is issued by De Nederlandsche Bank (DNB) under Trust Offices Supervision Act 2018 (Wet toezicht trustkantoren 2018 - Wtt 2018). It is a national licence: it does not give a passport to other EU/EEA states. The application fee is EUR 4,500. Ownership changes need the regulator's approval before completion.","derived_from":"dnb-netherlands","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/trust-company/netherlands/","jurisdiction_name":"Netherlands","region":"eu-eea","regulator_name":"DNB","regulator_url":"/licensing/regulators/dnb-netherlands/","family_short":"TCSP","capital_eur":null,"months":null},{"id":"trust-company--SC","family":"trust-company","jurisdiction":"SC","regulator_id":"fsa-seychelles","official_name":{"value":"International Corporate Service Provider (ICSP) Licence under the International Corporate Service Providers Act 2003","source":"https://fsaseychelles.sc/regulated-entities/fiduciary","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"International Corporate Service Providers Act, 2003","source":"https://fsaseychelles.sc/legal-framework/legislations","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sc-international-corporate-service-providers-act-2003"],"activity_ids":["trust-corporate-services"],"passporting":"none","change_of_control":{"approval_type":null,"summary":null},"answer":"The International Corporate Service Provider (ICSP) Licence under the International Corporate Service Providers Act 2003 is issued by Financial Services Authority (Seychelles) (FSA) under International Corporate Service Providers Act, 2003. Ownership changes need the regulator's approval before completion.","derived_from":"fsa-seychelles","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/trust-company/seychelles/","jurisdiction_name":"Seychelles","region":"offshore","regulator_name":"FSA","regulator_url":"/licensing/regulators/fsa-seychelles/","family_short":"TCSP","capital_eur":null,"months":null},{"id":"trust-company--SG","family":"trust-company","jurisdiction":"SG","regulator_id":"mas-singapore","official_name":{"value":"Trust Company Licence","source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed Trust Company 67"},"legal_basis":[{"value":"Trust Companies Act 2005","source":"https://sso.agc.gov.sg/Act/TCA2005","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sg-trust-companies-act-2005"],"activity_ids":["trust-corporate-services"],"passporting":"none","fees":{"application":{"value":"SGD 1,000","source":"https://sso.agc.gov.sg/Act/TCA2005","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"annual":{"value":"SGD 4,000","source":"https://sso.agc.gov.sg/Act/TCA2005","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 28 of the Payment Services Act 2019, prior written approval from MAS is required before a person becomes a 20% controller of a licensee (holding 20% or more of shares or voting power, or exercising effective control / power to determine policy). Under Section 97A of the Securities and Futures Act 2001 (as amended by Act 12 of 2024 effective 24 January 2025), prior written approval is required before obtaining effective control of a CMS licensee (20% share capital or voting power, or power to direct policy). Applications are submitted online via MAS-Tx (Form 3A for PSA, Form under SFA s.97A). Incurring control without MAS prior approval constitutes a criminal offence punishable by fine up to SGD 150,000 and/or imprisonment.","source":"https://sso.agc.gov.sg/Act/PSA2019","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Control of shareholding in licensee"}},"register_url":{"value":"https://eservices.mas.gov.sg/fid/institution","source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":67,"source":"https://eservices.mas.gov.sg/fid/institution","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Licensed Trust Company 67"},"answer":"The Trust Company Licence is issued by Monetary Authority of Singapore (MAS) under Trust Companies Act 2005. The official register lists 67 current holders. The application fee is SGD 1,000. Ownership changes need the regulator's approval before completion.","derived_from":"mas-singapore","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/trust-company/singapore/","jurisdiction_name":"Singapore","region":"apac","regulator_name":"MAS","regulator_url":"/licensing/regulators/mas-singapore/","family_short":"TCSP","capital_eur":null,"months":null},{"id":"vasp--AE-ADGM","family":"vasp","jurisdiction":"AE-ADGM","regulator_id":"fsra-adgm","official_name":{"value":"Financial Services Permission with Virtual Asset Activities Endorsement","source":"https://en.adgm.thomsonreuters.com/entiresection/24820","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Financial Services and Markets Regulations 2015","source":"https://en.adgm.thomsonreuters.com/rulebook/financial-services-and-markets-regulations-2015-0","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"FSRA Anti-Money Laundering and Sanctions Rulebook (AML)","source":"https://en.adgm.thomsonreuters.com/rulebook/anti-money-laundering-and-sanctions-rulebook-aml-ver11210526","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-adgm-fsmr-2015","ae-adgm-aml-rules"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","fees":{"application":{"value":"USD 20,000","source":"https://en.adgm.thomsonreuters.com/entiresection/24820","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"carrying on any other Regulated Activity in relation to Virtual Assets is USD 20,000"},"annual":{"value":"USD 15,000","source":"https://en.adgm.thomsonreuters.com/entiresection/24820","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"annual supervision fee ... in relation to Virtual Assets is USD 15,000"}},"timelines":{"statutory":{"value":"Within a reasonable time from submission of a complete application","source":"https://en.adgm.thomsonreuters.com/entiresection/12521","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for a Financial Services Permission within a reasonable time"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under FSMR section 105 and GEN 8.8, prior written approval from the FSRA is required before a person becomes a controller or increases control across 20%, 30%, or 50% thresholds. A controller is defined as holding 10% or more of voting rights or capital, or exercising significant influence. The statutory determination period is 90 days from receipt of a complete notice, accompanied by a USD 1,000 application fee.","source":"https://en.adgm.thomsonreuters.com/entiresection/7993","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 8.8.4 within 90 days"}},"register_url":{"value":"https://www.adgm.com/public-registers/fsra/firms","source":"https://www.adgm.com/public-registers/fsra/firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":18,"source":"https://www.adgm.com/public-registers/fsra/firms","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Active firms with Virtual Asset endorsement"},"answer":"The Financial Services Permission with Virtual Asset Activities Endorsement is issued by Financial Services Regulatory Authority (FSRA) under the Financial Services and Markets Regulations 2015. The official register lists 18 current holders. The legal decision period is Within a reasonable time from submission of a complete application. The application fee is USD 20,000. Ownership changes need the regulator's approval before completion.","derived_from":"fsra-adgm","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/adgm/","jurisdiction_name":"Abu Dhabi Global Market (ADGM)","region":"middle-east","regulator_name":"FSRA","regulator_url":"/licensing/regulators/fsra-adgm/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--AE-DIFC","family":"vasp","jurisdiction":"AE-DIFC","regulator_id":"dfsa-difc","official_name":{"value":"Financial Services Permission with Crypto Token Activities Endorsement","source":"https://dfsaen.thomsonreuters.com/rulebook/12-january-2026-dfsa-implements-major-updates-crypto-token-regulatory-framework-enhancing","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"major updates to its Crypto Token regulatory framework"},"legal_basis":[{"value":"Regulatory Law","source":"https://dfsaen.thomsonreuters.com/rulebook/regulatory-law-1","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"DFSA Rulebook — Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML)","source":"https://dfsaen.thomsonreuters.com/rulebook/anti-money-laundering-counter-terrorist-financing-and-sanctions-module-aml-ver3004-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-difc-regulatory-law-2004","ae-difc-aml-rules"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","fees":{"application":{"value":"USD 10,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"in respect of Crypto Tokens: 10,000"},"annual":{"value":"USD 35,000","source":"https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Category 3A, 3B or 3C ... Crypto Tokens: 35,000"}},"timelines":{"statutory":{"value":"No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay","source":"https://dfsaen.thomsonreuters.com/rulebook/regulatory-law-1","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Regulatory Law 2004 Article 59 and DFSA Rulebook General Module (GEN) Section 11.8, prior written approval from the DFSA is required before any person becomes a Controller, or increases their holding across 30% or 50% thresholds. A Controller is defined as someone holding 10% or more of shares or voting rights, or exercising significant influence over management. Under GEN 11.8.6, the DFSA must determine an application for approval of a change of control within 90 days of receipt of a duly completed application.","source":"https://dfsaen.thomsonreuters.com/rulebook/general-module-gen-ver7207-26","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"determine an application for approval under Rule 11.8.4 within 90 days"}},"answer":"The Financial Services Permission with Crypto Token Activities Endorsement is issued by Dubai Financial Services Authority (DFSA) under the Regulatory Law. The legal decision period is No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay. The application fee is USD 10,000. Ownership changes need the regulator's approval before completion.","derived_from":"dfsa-difc","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/difc/","jurisdiction_name":"Dubai International Financial Centre (DIFC)","region":"middle-east","regulator_name":"DFSA","regulator_url":"/licensing/regulators/dfsa-difc/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--AE-DU--advisory","family":"vasp","jurisdiction":"AE-DU","regulator_id":"vara-dubai","official_name":{"value":"Virtual Asset Advisory Services Licence","source":"https://www.vara.ae/en/licenses-and-register/licensed-activities/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Assets Advisory Services"},"legal_basis":[{"value":"Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai","source":"https://rulebooks.vara.ae/rulebook/law-no-4-2022-regulating-virtual-assets-emirate-dubai","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 111/2022 on the Regulation of Virtual Assets and Their Service Providers","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1112022-regulation-virtual-assets-and-their-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 112/2022 on Delegating Certain Competencies related to the Regulation of Virtual Assets","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1122022-delegating-certain-competencies-related-regulation-virtual","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-du-law-4-2022","ae-cabinet-decision-111-2022","ae-cabinet-decision-112-2022","ae-du-vara-regulations-2023"],"activity_ids":["crypto-advice"],"passporting":"none","fees":{"application":{"value":"AED 40,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Advisory Services AED 40,000"},"annual":{"value":"AED 80,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"AED 80,000"}},"timelines":{"statutory":{"value":"No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.","source":"https://rulebooks.vara.ae/rulebook/b-varas-licensing-and-authorisation-powers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"VARA may, in its sole and absolute discretion, grant a Licence for a VASP"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Company Rulebook Part VIII.C, no action may be taken that may result in a change of Control of a VASP without VARA's prior written approval. Prior to any transaction, the VASP and acquirer must submit a joint written application. Control is presumed when an entity directly or indirectly owns or controls 25% or more of voting shares, possesses power to direct management/policies, or can appoint or dismiss the majority of the Board or Senior Management. The statutory assessment period is thirty (30) Working Days from deemed receipt of a complete application, extendable by VARA. Assessments consider public interest, investment vs controlling intent, board influence, and fit-and-proper standards.","source":"https://rulebooks.vara.ae/rulebook/c-change-control","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No action shall be taken, except with the prior written approval of VARA"}},"register_url":{"value":"https://www.vara.ae/en/licenses-and-register/public-register/","source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":3,"source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Advisory Services"},"answer":"The Virtual Asset Advisory Services Licence is issued by Virtual Assets Regulatory Authority (VARA) under Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai. The official register lists 3 current holders. The legal decision period is No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness. The application fee is AED 40,000.","derived_from":"vara-dubai","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/dubai-advisory/","jurisdiction_name":"Dubai (VARA)","region":"middle-east","regulator_name":"VARA","regulator_url":"/licensing/regulators/vara-dubai/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--AE-DU--broker-dealer","family":"vasp","jurisdiction":"AE-DU","regulator_id":"vara-dubai","official_name":{"value":"Virtual Asset Broker-Dealer Services Licence","source":"https://www.vara.ae/en/licenses-and-register/licensed-activities/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Assets Broker-Dealer Services"},"legal_basis":[{"value":"Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai","source":"https://rulebooks.vara.ae/rulebook/law-no-4-2022-regulating-virtual-assets-emirate-dubai","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 111/2022 on the Regulation of Virtual Assets and Their Service Providers","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1112022-regulation-virtual-assets-and-their-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 112/2022 on Delegating Certain Competencies related to the Regulation of Virtual Assets","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1122022-delegating-certain-competencies-related-regulation-virtual","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-du-law-4-2022","ae-cabinet-decision-111-2022","ae-cabinet-decision-112-2022","ae-du-vara-regulations-2023"],"activity_ids":["crypto-order-execution","crypto-fiat-exchange","crypto-crypto-exchange"],"passporting":"none","fees":{"application":{"value":"AED 100,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Broker-Dealer Services AED 100,000"},"annual":{"value":"AED 200,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"AED 200,000"}},"timelines":{"statutory":{"value":"No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.","source":"https://rulebooks.vara.ae/rulebook/b-varas-licensing-and-authorisation-powers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"VARA may, in its sole and absolute discretion, grant a Licence for a VASP"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Company Rulebook Part VIII.C, no action may be taken that may result in a change of Control of a VASP without VARA's prior written approval. Prior to any transaction, the VASP and acquirer must submit a joint written application. Control is presumed when an entity directly or indirectly owns or controls 25% or more of voting shares, possesses power to direct management/policies, or can appoint or dismiss the majority of the Board or Senior Management. The statutory assessment period is thirty (30) Working Days from deemed receipt of a complete application, extendable by VARA. Assessments consider public interest, investment vs controlling intent, board influence, and fit-and-proper standards.","source":"https://rulebooks.vara.ae/rulebook/c-change-control","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No action shall be taken, except with the prior written approval of VARA"}},"register_url":{"value":"https://www.vara.ae/en/licenses-and-register/public-register/","source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":41,"source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Broker-Dealer Services"},"answer":"The Virtual Asset Broker-Dealer Services Licence is issued by Virtual Assets Regulatory Authority (VARA) under Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai. The official register lists 41 current holders. The legal decision period is No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness. The application fee is AED 100,000.","derived_from":"vara-dubai","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/dubai-broker-dealer/","jurisdiction_name":"Dubai (VARA)","region":"middle-east","regulator_name":"VARA","regulator_url":"/licensing/regulators/vara-dubai/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--AE-DU--custody","family":"vasp","jurisdiction":"AE-DU","regulator_id":"vara-dubai","official_name":{"value":"Virtual Asset Custody Services Licence","source":"https://www.vara.ae/en/licenses-and-register/licensed-activities/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Assets Custody Services"},"legal_basis":[{"value":"Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai","source":"https://rulebooks.vara.ae/rulebook/law-no-4-2022-regulating-virtual-assets-emirate-dubai","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 111/2022 on the Regulation of Virtual Assets and Their Service Providers","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1112022-regulation-virtual-assets-and-their-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 112/2022 on Delegating Certain Competencies related to the Regulation of Virtual Assets","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1122022-delegating-certain-competencies-related-regulation-virtual","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-du-law-4-2022","ae-cabinet-decision-111-2022","ae-cabinet-decision-112-2022","ae-du-vara-regulations-2023"],"activity_ids":["crypto-custody","vasp-custody"],"passporting":"none","fees":{"application":{"value":"AED 100,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Custody Services AED 100,000"},"annual":{"value":"AED 200,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"AED 200,000"}},"timelines":{"statutory":{"value":"No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.","source":"https://rulebooks.vara.ae/rulebook/b-varas-licensing-and-authorisation-powers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"VARA may, in its sole and absolute discretion, grant a Licence for a VASP"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Company Rulebook Part VIII.C, no action may be taken that may result in a change of Control of a VASP without VARA's prior written approval. Prior to any transaction, the VASP and acquirer must submit a joint written application. Control is presumed when an entity directly or indirectly owns or controls 25% or more of voting shares, possesses power to direct management/policies, or can appoint or dismiss the majority of the Board or Senior Management. The statutory assessment period is thirty (30) Working Days from deemed receipt of a complete application, extendable by VARA. Assessments consider public interest, investment vs controlling intent, board influence, and fit-and-proper standards.","source":"https://rulebooks.vara.ae/rulebook/c-change-control","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No action shall be taken, except with the prior written approval of VARA"}},"register_url":{"value":"https://www.vara.ae/en/licenses-and-register/public-register/","source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":6,"source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Custody Services"},"answer":"The Virtual Asset Custody Services Licence is issued by Virtual Assets Regulatory Authority (VARA) under Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai. The official register lists 6 current holders. The legal decision period is No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness. The application fee is AED 100,000.","derived_from":"vara-dubai","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/dubai-custody/","jurisdiction_name":"Dubai (VARA)","region":"middle-east","regulator_name":"VARA","regulator_url":"/licensing/regulators/vara-dubai/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--AE-DU--exchange","family":"vasp","jurisdiction":"AE-DU","regulator_id":"vara-dubai","official_name":{"value":"Virtual Asset Exchange Services Licence","source":"https://www.vara.ae/en/licenses-and-register/licensed-activities/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Assets Exchange Services"},"legal_basis":[{"value":"Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai","source":"https://rulebooks.vara.ae/rulebook/law-no-4-2022-regulating-virtual-assets-emirate-dubai","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 111/2022 on the Regulation of Virtual Assets and Their Service Providers","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1112022-regulation-virtual-assets-and-their-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 112/2022 on Delegating Certain Competencies related to the Regulation of Virtual Assets","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1122022-delegating-certain-competencies-related-regulation-virtual","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-du-law-4-2022","ae-cabinet-decision-111-2022","ae-cabinet-decision-112-2022","ae-du-vara-regulations-2023"],"activity_ids":["vasp-exchange","crypto-trading-platform"],"passporting":"none","fees":{"application":{"value":"AED 100,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Exchange Services AED 100,000"},"annual":{"value":"AED 200,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"AED 200,000"}},"timelines":{"statutory":{"value":"No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.","source":"https://rulebooks.vara.ae/rulebook/b-varas-licensing-and-authorisation-powers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"VARA may, in its sole and absolute discretion, grant a Licence for a VASP"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Company Rulebook Part VIII.C, no action may be taken that may result in a change of Control of a VASP without VARA's prior written approval. Prior to any transaction, the VASP and acquirer must submit a joint written application. Control is presumed when an entity directly or indirectly owns or controls 25% or more of voting shares, possesses power to direct management/policies, or can appoint or dismiss the majority of the Board or Senior Management. The statutory assessment period is thirty (30) Working Days from deemed receipt of a complete application, extendable by VARA. Assessments consider public interest, investment vs controlling intent, board influence, and fit-and-proper standards.","source":"https://rulebooks.vara.ae/rulebook/c-change-control","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No action shall be taken, except with the prior written approval of VARA"}},"register_url":{"value":"https://www.vara.ae/en/licenses-and-register/public-register/","source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":15,"source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Exchange Services"},"answer":"The Virtual Asset Exchange Services Licence is issued by Virtual Assets Regulatory Authority (VARA) under Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai. The official register lists 15 current holders. The legal decision period is No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness. The application fee is AED 100,000.","derived_from":"vara-dubai","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/dubai-exchange/","jurisdiction_name":"Dubai (VARA)","region":"middle-east","regulator_name":"VARA","regulator_url":"/licensing/regulators/vara-dubai/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--AE-DU--lending-borrowing","family":"vasp","jurisdiction":"AE-DU","regulator_id":"vara-dubai","official_name":{"value":"Virtual Asset Lending and Borrowing Services Licence","source":"https://www.vara.ae/en/licenses-and-register/licensed-activities/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Assets Lending and Borrowing Services"},"legal_basis":[{"value":"Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai","source":"https://rulebooks.vara.ae/rulebook/law-no-4-2022-regulating-virtual-assets-emirate-dubai","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 111/2022 on the Regulation of Virtual Assets and Their Service Providers","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1112022-regulation-virtual-assets-and-their-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 112/2022 on Delegating Certain Competencies related to the Regulation of Virtual Assets","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1122022-delegating-certain-competencies-related-regulation-virtual","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-du-law-4-2022","ae-cabinet-decision-111-2022","ae-cabinet-decision-112-2022","ae-du-vara-regulations-2023"],"activity_ids":["credit-granting"],"passporting":"none","fees":{"application":{"value":"AED 100,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Lending and Borrowing Services AED 100,000"},"annual":{"value":"AED 200,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"AED 200,000"}},"timelines":{"statutory":{"value":"No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.","source":"https://rulebooks.vara.ae/rulebook/b-varas-licensing-and-authorisation-powers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"VARA may, in its sole and absolute discretion, grant a Licence for a VASP"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Company Rulebook Part VIII.C, no action may be taken that may result in a change of Control of a VASP without VARA's prior written approval. Prior to any transaction, the VASP and acquirer must submit a joint written application. Control is presumed when an entity directly or indirectly owns or controls 25% or more of voting shares, possesses power to direct management/policies, or can appoint or dismiss the majority of the Board or Senior Management. The statutory assessment period is thirty (30) Working Days from deemed receipt of a complete application, extendable by VARA. Assessments consider public interest, investment vs controlling intent, board influence, and fit-and-proper standards.","source":"https://rulebooks.vara.ae/rulebook/c-change-control","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No action shall be taken, except with the prior written approval of VARA"}},"register_url":{"value":"https://www.vara.ae/en/licenses-and-register/public-register/","source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":5,"source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Lending and Borrowing Services"},"answer":"The Virtual Asset Lending and Borrowing Services Licence is issued by Virtual Assets Regulatory Authority (VARA) under Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai. The official register lists 5 current holders. The legal decision period is No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness. The application fee is AED 100,000.","derived_from":"vara-dubai","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/dubai-lending-borrowing/","jurisdiction_name":"Dubai (VARA)","region":"middle-east","regulator_name":"VARA","regulator_url":"/licensing/regulators/vara-dubai/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--AE-DU--management-investment","family":"vasp","jurisdiction":"AE-DU","regulator_id":"vara-dubai","official_name":{"value":"Virtual Asset Management and Investment Services Licence","source":"https://www.vara.ae/en/licenses-and-register/licensed-activities/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Assets Management and Investment Services"},"legal_basis":[{"value":"Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai","source":"https://rulebooks.vara.ae/rulebook/law-no-4-2022-regulating-virtual-assets-emirate-dubai","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 111/2022 on the Regulation of Virtual Assets and Their Service Providers","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1112022-regulation-virtual-assets-and-their-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 112/2022 on Delegating Certain Competencies related to the Regulation of Virtual Assets","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1122022-delegating-certain-competencies-related-regulation-virtual","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-du-law-4-2022","ae-cabinet-decision-111-2022","ae-cabinet-decision-112-2022","ae-du-vara-regulations-2023"],"activity_ids":["crypto-portfolio-management"],"passporting":"none","fees":{"application":{"value":"AED 100,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"VA Management and Investment Services AED 100,000"},"annual":{"value":"AED 200,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"AED 200,000"}},"timelines":{"statutory":{"value":"No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.","source":"https://rulebooks.vara.ae/rulebook/b-varas-licensing-and-authorisation-powers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"VARA may, in its sole and absolute discretion, grant a Licence for a VASP"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Company Rulebook Part VIII.C, no action may be taken that may result in a change of Control of a VASP without VARA's prior written approval. Prior to any transaction, the VASP and acquirer must submit a joint written application. Control is presumed when an entity directly or indirectly owns or controls 25% or more of voting shares, possesses power to direct management/policies, or can appoint or dismiss the majority of the Board or Senior Management. The statutory assessment period is thirty (30) Working Days from deemed receipt of a complete application, extendable by VARA. Assessments consider public interest, investment vs controlling intent, board influence, and fit-and-proper standards.","source":"https://rulebooks.vara.ae/rulebook/c-change-control","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No action shall be taken, except with the prior written approval of VARA"}},"register_url":{"value":"https://www.vara.ae/en/licenses-and-register/public-register/","source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":12,"source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Management and Investment Services"},"answer":"The Virtual Asset Management and Investment Services Licence is issued by Virtual Assets Regulatory Authority (VARA) under Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai. The official register lists 12 current holders. The legal decision period is No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness. The application fee is AED 100,000.","derived_from":"vara-dubai","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/dubai-management-investment/","jurisdiction_name":"Dubai (VARA)","region":"middle-east","regulator_name":"VARA","regulator_url":"/licensing/regulators/vara-dubai/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--AE-DU--transfer-settlement","family":"vasp","jurisdiction":"AE-DU","regulator_id":"vara-dubai","official_name":{"value":"Virtual Asset Transfer and Settlement Services Licence","source":"https://www.vara.ae/en/licenses-and-register/licensed-activities/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Assets Transfer and Settlement Services"},"legal_basis":[{"value":"Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai","source":"https://rulebooks.vara.ae/rulebook/law-no-4-2022-regulating-virtual-assets-emirate-dubai","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 111/2022 on the Regulation of Virtual Assets and Their Service Providers","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1112022-regulation-virtual-assets-and-their-service-providers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Cabinet Decision No. 112/2022 on Delegating Certain Competencies related to the Regulation of Virtual Assets","source":"https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1122022-delegating-certain-competencies-related-regulation-virtual","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ae-du-law-4-2022","ae-cabinet-decision-111-2022","ae-cabinet-decision-112-2022","ae-du-vara-regulations-2023"],"activity_ids":["vasp-transfer","crypto-transfer"],"passporting":"none","fees":{"application":{"value":"AED 40,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"VA Transfer and Settlement Services AED 40,000"},"annual":{"value":"AED 80,000","source":"https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"AED 80,000"}},"timelines":{"statutory":{"value":"No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.","source":"https://rulebooks.vara.ae/rulebook/b-varas-licensing-and-authorisation-powers","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"VARA may, in its sole and absolute discretion, grant a Licence for a VASP"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Company Rulebook Part VIII.C, no action may be taken that may result in a change of Control of a VASP without VARA's prior written approval. Prior to any transaction, the VASP and acquirer must submit a joint written application. Control is presumed when an entity directly or indirectly owns or controls 25% or more of voting shares, possesses power to direct management/policies, or can appoint or dismiss the majority of the Board or Senior Management. The statutory assessment period is thirty (30) Working Days from deemed receipt of a complete application, extendable by VARA. Assessments consider public interest, investment vs controlling intent, board influence, and fit-and-proper standards.","source":"https://rulebooks.vara.ae/rulebook/c-change-control","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"No action shall be taken, except with the prior written approval of VARA"}},"register_url":{"value":"https://www.vara.ae/en/licenses-and-register/public-register/","source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":0,"source":"https://www.vara.ae/en/licenses-and-register/public-register/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Transfer and Settlement Services"},"answer":"The Virtual Asset Transfer and Settlement Services Licence is issued by Virtual Assets Regulatory Authority (VARA) under Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai. The official register lists 0 current holders. The legal decision period is No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness. The application fee is AED 40,000.","derived_from":"vara-dubai","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/dubai-transfer-settlement/","jurisdiction_name":"Dubai (VARA)","region":"middle-east","regulator_name":"VARA","regulator_url":"/licensing/regulators/vara-dubai/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--AU","family":"vasp","jurisdiction":"AU","regulator_id":"austrac-australia","official_name":{"value":"Registration as a virtual asset service provider (VASP) on the AUSTRAC Virtual Asset Service Provider Register (formerly the Digital Currency Exchange Register)","source":"https://www.legislation.gov.au/C2006A00169/latest/text","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Part 6A covers \"The Virtual Asset Service Provider Register\""},"legal_basis":[{"value":"Anti-Money Laundering and Counter-Terrorism Financing Act 2006","source":"https://www.legislation.gov.au/C2006A00169/latest/text","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024","source":"https://www.legislation.gov.au/C2024A00110/latest/text","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["au-aml-ctf-act-2006","au-aml-ctf-amendment-act-2024"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","fees":{"application":{"value":"AUD 0 (no government application fee)","source":"https://moneytransferlicence.com.au/blog/is-austrac-registration-free-or-paid/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"AUSTRAC registration and enrolment do not attract an application fee"}},"change_of_control":{"approval_type":"notification","summary":{"value":"No percentage-based ownership threshold applies. Registered remittance providers and VASPs must notify AUSTRAC of any change to beneficial owners or key personnel — including new personnel's police checks and any criminal/civil enforcement history — within 14 days of the change, via AUSTRAC Online. This is post-completion notification, not prior approval; AUSTRAC can still suspend, cancel or impose conditions on the registration if it considers the new ownership or personnel pose a money-laundering, terrorism-financing or other serious-crime risk. Legal basis: AML/CTF Act 2006 (Cth).","source":"https://www.austrac.gov.au/industry-and-business/austrac-online/update-your-details","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"must tell AUSTRAC about changes within 14 days","blocked_reason":"austrac.gov.au times out on automated fetch; the 14-day figure is corroborated verbatim via WebSearch's indexed snippet of this exact URL, and independently by two secondary compliance-advisory sources (Bartier Perry, Click Legal)."}},"answer":"The Registration as a virtual asset service provider (VASP) on the AUSTRAC Virtual Asset Service Provider Register (formerly the Digital Currency Exchange Register) is issued by Australian Transaction Reports and Analysis Centre (AUSTRAC) under Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The application fee is AUD 0 (no government application fee). Ownership changes need the regulator's approval before completion.","derived_from":"austrac-australia","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/australia/","jurisdiction_name":"Australia","region":"apac","regulator_name":"AUSTRAC","regulator_url":"/licensing/regulators/austrac-australia/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--BM--f","family":"vasp","jurisdiction":"BM","regulator_id":"bma-bermuda","official_name":{"value":"Digital Asset Business Class F (Full) Licence","source":"https://www.bma.bm/digital-asset-business","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"companies seeking to provide any or all"},"legal_basis":[{"value":"Digital Asset Business Act 2018","source":"https://www.bermudalaws.bm/Laws/Consolidated%20Law/2018/Digital%20Asset%20Business%20Act%202018","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["bm-digital-asset-business-act-2018"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","timelines":{"observed":{"value":"No fixed statutory decision deadline found; the Assessment and Licensing Committee typically gives an initial decision roughly four weeks after a complete application is submitted, depending on completeness and complexity.","source":"https://salvusfunds.com/2026/07/10/establishing-a-digital-asset-business-in-bermuda-in-2026/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"provides its initial decision ... in approximately four weeks"}},"change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Anyone intending to become a 10% (or majority) shareholder controller of a BMA-licensed undertaking, including a digital asset business, must first give the Authority written notice; the acquisition can proceed once the BMA confirms no objection, or once a statutory review period elapses without a written objection. Bermuda's regime also recognises a majority-controller threshold as a second trigger point.","source":"https://charltonsquantum.com/bermuda-digital-assets-regulation/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"must serve a written notice to the BMA"}},"answer":"The Digital Asset Business Class F (Full) Licence is issued by Bermuda Monetary Authority (BMA) under Digital Asset Business Act 2018. It covers virtual asset exchange, virtual asset transfer and virtual asset safekeeping. It is valid in Bermuda only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.","derived_from":"bma-bermuda","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/bermuda-f/","jurisdiction_name":"Bermuda","region":"offshore","regulator_name":"BMA","regulator_url":"/licensing/regulators/bma-bermuda/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--BM--m","family":"vasp","jurisdiction":"BM","regulator_id":"bma-bermuda","official_name":{"value":"Digital Asset Business Class M (Modified) Licence","source":"https://www.bma.bm/digital-asset-business","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"expand operations for a limited period"},"legal_basis":[{"value":"Digital Asset Business Act 2018","source":"https://www.bermudalaws.bm/Laws/Consolidated%20Law/2018/Digital%20Asset%20Business%20Act%202018","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["bm-digital-asset-business-act-2018"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Anyone intending to become a 10% (or majority) shareholder controller of a BMA-licensed undertaking, including a digital asset business, must first give the Authority written notice; the acquisition can proceed once the BMA confirms no objection, or once a statutory review period elapses without a written objection. Bermuda's regime also recognises a majority-controller threshold as a second trigger point.","source":"https://charltonsquantum.com/bermuda-digital-assets-regulation/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"must serve a written notice to the BMA"}},"answer":"The Digital Asset Business Class M (Modified) Licence is issued by Bermuda Monetary Authority (BMA) under Digital Asset Business Act 2018. It covers virtual asset exchange, virtual asset transfer and virtual asset safekeeping. It is valid in Bermuda only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.","derived_from":"bma-bermuda","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/bermuda-m/","jurisdiction_name":"Bermuda","region":"offshore","regulator_name":"BMA","regulator_url":"/licensing/regulators/bma-bermuda/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--BM--t","family":"vasp","jurisdiction":"BM","regulator_id":"bma-bermuda","official_name":{"value":"Digital Asset Business Class T (Test) Licence","source":"https://www.bma.bm/digital-asset-business","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"test their proof of concept"},"legal_basis":[{"value":"Digital Asset Business Act 2018","source":"https://www.bermudalaws.bm/Laws/Consolidated%20Law/2018/Digital%20Asset%20Business%20Act%202018","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["bm-digital-asset-business-act-2018"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Anyone intending to become a 10% (or majority) shareholder controller of a BMA-licensed undertaking, including a digital asset business, must first give the Authority written notice; the acquisition can proceed once the BMA confirms no objection, or once a statutory review period elapses without a written objection. Bermuda's regime also recognises a majority-controller threshold as a second trigger point.","source":"https://charltonsquantum.com/bermuda-digital-assets-regulation/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"must serve a written notice to the BMA"}},"answer":"The Digital Asset Business Class T (Test) Licence is issued by Bermuda Monetary Authority (BMA) under Digital Asset Business Act 2018. It covers virtual asset exchange, virtual asset transfer and virtual asset safekeeping. It is valid in Bermuda only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.","derived_from":"bma-bermuda","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/bermuda-t/","jurisdiction_name":"Bermuda","region":"offshore","regulator_name":"BMA","regulator_url":"/licensing/regulators/bma-bermuda/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--CH","family":"vasp","jurisdiction":"CH","regulator_id":"finma-switzerland","official_name":{"value":"Financial intermediary / VASP SRO affiliation (Finanzintermediär nach Art. 2 Abs. 3 GwG / AMLA)","source":"https://www.finma.ch/en/authorisation/self-regulatory-organisations-sros/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Self-regulatory organisations (SROs)"},"legal_basis":[{"value":"Federal Act on Combating Money Laundering and Terrorist Financing (Anti-Money Laundering Act, AMLA, SR 955.0)","source":"https://www.fedlex.admin.ch/eli/cc/1998/892_892_892/en","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ch-anti-money-laundering-act"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","fees":{"application":{"value":"Admission fee set by the chosen SRO (VQF: CHF 2,000); FINMA charges the SRO itself CHF 9,000 to 20,000 for recognition","source":"https://goldblum.ch/de/wissensdatenbank/vqf-selbstregulierende-organisation-in-der-schweiz/","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"A qualifying participation is defined as directly or indirectly holding at least 10% of the capital or voting rights, or otherwise exerting a significant influence over the company (BankA Art. 3 para. 2 let. c; FinIA Art. 11 para. 1). Notification to FINMA is mandatory prior to acquiring, disposing of, or reaching, exceeding, or falling below the statutory thresholds of 10%, 20%, 33%, or 50% (BankA Art. 3 para. 5; BankO Art. 8a; FinIA Art. 11 para. 4). For FinTech licence holders (Art. 1b BankA), FINMA's FinTech Licensing Guidelines explicitly mandate prior formal approval before completing any change in qualified participations. Furthermore, when foreign control is established or modified in a Swiss bank or securities firm, a supplementary licence (Zusatzbewilligung) is mandatory under BankA Art. 3bis. For SRO-affiliated financial intermediaries, Art. 6 para. 2 of SRO regulations (e.g. VQF) mandates prior written notice and SRO approval before transferring qualified holdings.","source":"https://www.finma.ch/en/authorisation/fintech/fintech-bewilligung/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Changes to qualified participations require prior approval"}},"answer":"The Financial intermediary / VASP SRO affiliation (Finanzintermediär nach Art. 2 Abs. 3 GwG / AMLA) is issued by Swiss Financial Market Supervisory Authority (FINMA) under Federal Act on Combating Money Laundering and Terrorist Financing (Anti-Money Laundering Act, AMLA, SR 955.0). The application fee is Admission fee set by the chosen SRO (VQF: CHF 2,000); FINMA charges the SRO itself CHF 9,000 to 20,000 for recognition. Ownership changes need the regulator's approval before completion.","derived_from":"finma-switzerland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/switzerland/","jurisdiction_name":"Switzerland","region":"europe-non-eu","regulator_name":"FINMA","regulator_url":"/licensing/regulators/finma-switzerland/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--DE--custody","family":"vasp","jurisdiction":"DE","regulator_id":"bafin-germany","official_name":{"value":"Qualified crypto custody licence (Erlaubnis für das qualifizierte Kryptoverwahrgeschäft nach § 1 Absatz 1a Satz 2 Nummer 6 KWG)","source":"https://www.gesetze-im-internet.de/kredwg/__1.html","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"legal_basis":[{"value":"Crypto Markets Supervision Act (Kryptomärkteaufsichtsgesetz - KMAG)","source":"https://www.gesetze-im-internet.de/kmag/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},{"value":"Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32022R2554","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["de-crypto-markets-supervision-act","eu-mica-2023-1114","eu-dora-2022-2554"],"activity_ids":["crypto-custody","vasp-custody"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining control of a credit institution, payment institution, or investment firm, requires prior written notification to BaFin and the Deutsche Bundesbank. BaFin conducts an assessment of acquirer reliability, professional competence, financial soundness, and money laundering risks within 60 working days from receipt of a complete filing, interruptible once by up to 20 working days (or 30 working days if non-EEA) to request additional information, under Section 2c KWG, applied mutatis mutandis to payment and e-money institutions via Section 14 ZAG and to investment firms via Section 24 WpIG.","source":"https://www.gesetze-im-internet.de/kredwg/__2c.html","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"innerhalb von 60 Arbeitstagen ab dem Datum des Schreibens ... zu beurteilen"}},"register_url":{"value":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=170&sucheButtonInstitut=Suche","source":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=170&sucheButtonInstitut=Suche","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":15,"source":"https://portal.mvp.bafin.de/database/InstInfo/sucheForm.do?kategorieId=170&sucheButtonInstitut=Suche","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"V-Bank AG CRR-Kreditinstitut, Kreditinstitut, Kryptoverwahrer, Kryptowertedienstleister, SSM-Institut"},"answer":"The Qualified crypto custody licence (Erlaubnis für das qualifizierte Kryptoverwahrgeschäft nach § 1 Absatz 1a Satz 2 Nummer 6 KWG) is issued by Federal Financial Supervisory Authority (BaFin) under Crypto Markets Supervision Act (Kryptomärkteaufsichtsgesetz - KMAG). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 15 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"bafin-germany","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/germany-custody/","jurisdiction_name":"Germany","region":"eu-eea","regulator_name":"BaFin","regulator_url":"/licensing/regulators/bafin-germany/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--GB","family":"vasp","jurisdiction":"GB","regulator_id":"fca-uk","official_name":{"value":"Cryptoasset Business Registration (MLRs 2017)","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"register as a cryptoasset firm is Category 6"},"legal_basis":[{"value":"The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (SI 2026/102)","source":"https://www.legislation.gov.uk/uksi/2026/102/contents/made","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["gb-fsma-cryptoassets-regulations-2026"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","fees":{"application":{"value":"GBP 11,260 (Pricing Category 6 for MLRs cryptoasset registration)","source":"https://www.fca.org.uk/firms/authorisation/how-to-apply/fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"fee to register as a cryptoasset firm is Category 6."},"annual":{"value":"Periodic supervisory fee under Fee-block G (firms registered under MLRs 2017) based on cryptoasset revenue","source":"https://www.fca.org.uk/firms/fees/how-we-calculate-annual-fees","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"firms registered under Money Laundering"}},"timelines":{"statutory":{"value":"3 months from receipt of a complete application under Regulation 59(3A) of the Money Laundering Regulations 2017","source":"https://www.legislation.gov.uk/uksi/2017/692/contents","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Determination of applications for registration"},"observed":{"value":"Median elapsed determination time of 236 calendar days (Lower Quartile: 172 days, Upper Quartile: 302 days) across 7 cases closed in Q4 2025/26 (A1.3 5MLD registrations)","source":"https://www.fca.org.uk/data/fca-authorisations-operating-service-metrics-2025-26-q4","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"5MLD"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested.","source":"https://www.fca.org.uk/firms/change-control/control-thresholds-bands","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Thresholds for control of Directive firms are defined in the following bands: 10% or more"}},"answer":"The Cryptoasset Business Registration (MLRs 2017) is issued by Financial Conduct Authority (FCA) under The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (SI 2026/102). The legal decision period is 3 months from receipt of a complete application under Regulation 59(3A) of the Money Laundering Regulations 2017. The application fee is GBP 11,260 (Pricing Category 6 for MLRs cryptoasset registration). Ownership changes need the regulator's approval before completion.","derived_from":"fca-uk","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/united-kingdom/","jurisdiction_name":"United Kingdom","region":"europe-non-eu","regulator_name":"FCA","regulator_url":"/licensing/regulators/fca-uk/","family_short":"VASP","capital_eur":null,"months":3},{"id":"vasp--IE","family":"vasp","jurisdiction":"IE","regulator_id":"central-bank-of-ireland","official_name":{"value":"Virtual Asset Service Provider AML/CFT Registration","source":"https://www.centralbank.ie/regulation/anti-money-laundering-and-countering-the-financing-of-terrorism/virtual-asset-service-providers/impact-of-micar-on-vasp","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"registered by the Central Bank as a VASP"},"legal_basis":[{"value":"Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},{"value":"Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA)","source":"https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32022R2554","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["eu-mica-2023-1114","eu-dora-2022-2554"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","change_of_control":{"approval_type":"prior_notification_with_objection_period","summary":{"value":"Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.","source":"https://www.centralbank.ie/regulation/industry-market-sectors/payment-institutions/notification-process-for-proposed-acquisitions-of-qualifying-holdings","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"complete its assessment of the Notification within 60 working days"}},"register_url":{"value":"https://registers.centralbank.ie/DownloadsPage.aspx","source":"https://registers.centralbank.ie/DownloadsPage.aspx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":0,"source":"https://registers.centralbank.ie/DownloadsPage.aspx","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Total Number of Virtual Asset Service Providers: 0"},"answer":"The Virtual Asset Service Provider AML/CFT Registration is issued by Central Bank of Ireland (CBI) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 0 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"central-bank-of-ireland","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/ireland/","jurisdiction_name":"Ireland","region":"eu-eea","regulator_name":"CBI","regulator_url":"/licensing/regulators/central-bank-of-ireland/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--KY--licence","family":"vasp","jurisdiction":"KY","regulator_id":"cima-cayman","official_name":{"value":"Virtual Asset Service Provider Licence (custody or trading platform services, Phase 2)","source":"https://www.cima.ky/vasp-faq","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"licensing regime commences 1 April 2025"},"legal_basis":[{"value":"Virtual Asset (Service Providers) Act (2024 Revision)","source":"https://www.cima.ky/upimages/lawsregulations/VirtualAssetServiceProvidersAct2024Revision_1716397271.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ky-virtual-asset-service-providers-act"],"activity_ids":["crypto-custody"],"passporting":"none","fees":{"application":{"value":"KYD 5,000","source":"https://kpmg.com/ky/en/home/insights/2025/04/vasps.html","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"Application fee: KYD 5,000 for a virtual asset service license"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under s.28(1) of the VASP Act, CIMA's prior approval is required before any issue or voluntary transfer of shares/interests reaching 10% or more of a VASP; the acquirer must file a Personal Questionnaire and fitness documentation. Acting without approval is an offence, and CIMA may also take action against the licence. Other CIMA-regulated entities (banks, trust companies, mutual fund administrators, securities licensees) face a stricter 0% threshold — any transfer needs prior approval.","source":"https://maples.com/knowledge/cima-change-of-control-process-a-guide-for-cayman-islands-regulated-entities","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Asset Service Providers require prior approval only when transfers exceed 10%"}},"answer":"The Virtual Asset Service Provider Licence (custody or trading platform services, Phase 2) is issued by Cayman Islands Monetary Authority (CIMA) under Virtual Asset (Service Providers) Act (2024 Revision). The application fee is KYD 5,000. Ownership changes need the regulator's approval before completion.","derived_from":"cima-cayman","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/cayman-islands-licence/","jurisdiction_name":"Cayman Islands","region":"offshore","regulator_name":"CIMA","regulator_url":"/licensing/regulators/cima-cayman/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--KY--registration","family":"vasp","jurisdiction":"KY","regulator_id":"cima-cayman","official_name":{"value":"Virtual Asset Service Provider Registration","source":"https://www.cima.ky/registration-requirements","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Virtual Asset (Service Providers) Act (2024 Revision)","source":"https://www.cima.ky/upimages/lawsregulations/VirtualAssetServiceProvidersAct2024Revision_1716397271.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["ky-virtual-asset-service-providers-act"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","fees":{"application":{"value":"KYD 1,000 initial assessment fee","source":"https://www.cima.ky/vasp-faq","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Initial assessment fee is KYD 1,000.00 at application"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under s.28(1) of the VASP Act, CIMA's prior approval is required before any issue or voluntary transfer of shares/interests reaching 10% or more of a VASP; the acquirer must file a Personal Questionnaire and fitness documentation. Acting without approval is an offence, and CIMA may also take action against the licence. Other CIMA-regulated entities (banks, trust companies, mutual fund administrators, securities licensees) face a stricter 0% threshold — any transfer needs prior approval.","source":"https://maples.com/knowledge/cima-change-of-control-process-a-guide-for-cayman-islands-regulated-entities","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"Virtual Asset Service Providers require prior approval only when transfers exceed 10%"}},"register_url":{"value":"https://www.cima.ky/vasp-statistics","source":"https://www.cima.ky/vasp-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":18,"source":"https://www.cima.ky/vasp-statistics","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Registered Entities 18"},"answer":"The Virtual Asset Service Provider Registration is issued by Cayman Islands Monetary Authority (CIMA) under Virtual Asset (Service Providers) Act (2024 Revision). The official register lists 18 current holders. The application fee is KYD 1,000 initial assessment fee. Ownership changes need the regulator's approval before completion.","derived_from":"cima-cayman","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/cayman-islands-registration/","jurisdiction_name":"Cayman Islands","region":"offshore","regulator_name":"CIMA","regulator_url":"/licensing/regulators/cima-cayman/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--MU--class-i","family":"vasp","jurisdiction":"MU","regulator_id":"fsc-mauritius","official_name":{"value":"Virtual Asset Advisory Services (Class I)","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=VmlydHVhbCBBc3NldCBhbmQgSW5pdGlhbCBUb2tlbiBPZmZlcmluZyBTZXJ2aWNlcyBBY3QgMjAyMQ==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Class 'I' Virtual Asset Advisory Services"},"legal_basis":[{"value":"Virtual Asset and Initial Token Offering Services Act 2021","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=VmlydHVhbCBBc3NldCBhbmQgSW5pdGlhbCBUb2tlbiBPZmZlcmluZyBTZXJ2aWNlcyBBY3QgMjAyMQ==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mu-vaitos-act-2021"],"activity_ids":["vasp-issuer-services"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 23 of the Financial Services Act 2007 and Section 16 of the VAITOS Act 2021, any issue or transfer of shares or legal or beneficial interest in a licensee requires the prior approval of the FSC, and any unauthorized transfer is void. Prior approval is not required for transfers under 5% (unless resulting in an individual holding over 20% or a change of control) or transfers to existing shareholders that do not alter control, both of which require written notification to the Commission. A controller is defined as any person holding or controlling not less than 20% of shares or voting power, or able to exercise significant influence, or holding board appointment/removal powers. Controllers and beneficial owners are subject to fit and proper vetting.","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=RmluYW5jaWFsIFNlcnZpY2VzIEFjdA==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"except with the approval of the Commission"}},"answer":"The Virtual Asset Advisory Services (Class I) is issued by Financial Services Commission (FSC) under Virtual Asset and Initial Token Offering Services Act 2021. It covers services related to token offerings. It is valid in Mauritius only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.","derived_from":"fsc-mauritius","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/mauritius-class-i/","jurisdiction_name":"Mauritius","region":"offshore","regulator_name":"FSC","regulator_url":"/licensing/regulators/fsc-mauritius/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--MU--class-m","family":"vasp","jurisdiction":"MU","regulator_id":"fsc-mauritius","official_name":{"value":"Virtual Asset Broker-Dealer (Class M)","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=VmlydHVhbCBBc3NldCBhbmQgSW5pdGlhbCBUb2tlbiBPZmZlcmluZyBTZXJ2aWNlcyBBY3QgMjAyMQ==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Class 'M' Virtual Asset Broker-Dealer"},"legal_basis":[{"value":"Virtual Asset and Initial Token Offering Services Act 2021","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=VmlydHVhbCBBc3NldCBhbmQgSW5pdGlhbCBUb2tlbiBPZmZlcmluZyBTZXJ2aWNlcyBBY3QgMjAyMQ==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mu-vaitos-act-2021"],"activity_ids":["vasp-exchange"],"passporting":"none","fees":{"application":{"value":"MUR 2,000,000 minimum capital requirement","source":"https://salvusfunds.com/2026/03/18/establishing-a-vasp-under-the-vaitos-act-in-mauritius-in-2026/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"2,000,000 MUR or its equivalent in any other fiat currency"}},"timelines":{"statutory":{"value":"No fixed statutory deadline; Section 17C(2)(b) of the Financial Services Act 2007 explicitly exempts applications for licences under the Second Schedule to the VAITOS Act 2021 from the 10-working-day determination requirement in Section 17B","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=RmluYW5jaWFsIFNlcnZpY2VzIEFjdA==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Section 17B shall not apply to... Second Schedule to the Virtual Asset"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 23 of the Financial Services Act 2007 and Section 16 of the VAITOS Act 2021, any issue or transfer of shares or legal or beneficial interest in a licensee requires the prior approval of the FSC, and any unauthorized transfer is void. Prior approval is not required for transfers under 5% (unless resulting in an individual holding over 20% or a change of control) or transfers to existing shareholders that do not alter control, both of which require written notification to the Commission. A controller is defined as any person holding or controlling not less than 20% of shares or voting power, or able to exercise significant influence, or holding board appointment/removal powers. Controllers and beneficial owners are subject to fit and proper vetting.","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=RmluYW5jaWFsIFNlcnZpY2VzIEFjdA==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"except with the approval of the Commission"}},"answer":"The Virtual Asset Broker-Dealer (Class M) is issued by Financial Services Commission (FSC) under Virtual Asset and Initial Token Offering Services Act 2021. The legal decision period is No fixed statutory deadline; Section 17C(2)(b) of the Financial Services Act 2007 explicitly exempts applications for licences under the Second Schedule to the VAITOS Act 2021 from the 10-working-day determination requirement in Section 17B. The application fee is MUR 2,000,000 minimum capital requirement.","derived_from":"fsc-mauritius","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/mauritius-class-m/","jurisdiction_name":"Mauritius","region":"offshore","regulator_name":"FSC","regulator_url":"/licensing/regulators/fsc-mauritius/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--MU--class-o","family":"vasp","jurisdiction":"MU","regulator_id":"fsc-mauritius","official_name":{"value":"Virtual Asset Wallet Services (Class O)","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=VmlydHVhbCBBc3NldCBhbmQgSW5pdGlhbCBUb2tlbiBPZmZlcmluZyBTZXJ2aWNlcyBBY3QgMjAyMQ==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Class 'O' Virtual Asset Wallet Services"},"legal_basis":[{"value":"Virtual Asset and Initial Token Offering Services Act 2021","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=VmlydHVhbCBBc3NldCBhbmQgSW5pdGlhbCBUb2tlbiBPZmZlcmluZyBTZXJ2aWNlcyBBY3QgMjAyMQ==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mu-vaitos-act-2021"],"activity_ids":["vasp-transfer"],"passporting":"none","change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 23 of the Financial Services Act 2007 and Section 16 of the VAITOS Act 2021, any issue or transfer of shares or legal or beneficial interest in a licensee requires the prior approval of the FSC, and any unauthorized transfer is void. Prior approval is not required for transfers under 5% (unless resulting in an individual holding over 20% or a change of control) or transfers to existing shareholders that do not alter control, both of which require written notification to the Commission. A controller is defined as any person holding or controlling not less than 20% of shares or voting power, or able to exercise significant influence, or holding board appointment/removal powers. Controllers and beneficial owners are subject to fit and proper vetting.","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=RmluYW5jaWFsIFNlcnZpY2VzIEFjdA==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"except with the approval of the Commission"}},"answer":"The Virtual Asset Wallet Services (Class O) is issued by Financial Services Commission (FSC) under Virtual Asset and Initial Token Offering Services Act 2021. It covers virtual asset transfer. It is valid in Mauritius only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.","derived_from":"fsc-mauritius","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/mauritius-class-o/","jurisdiction_name":"Mauritius","region":"offshore","regulator_name":"FSC","regulator_url":"/licensing/regulators/fsc-mauritius/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--MU--class-r","family":"vasp","jurisdiction":"MU","regulator_id":"fsc-mauritius","official_name":{"value":"Virtual Asset Custodian (Class R)","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=VmlydHVhbCBBc3NldCBhbmQgSW5pdGlhbCBUb2tlbiBPZmZlcmluZyBTZXJ2aWNlcyBBY3QgMjAyMQ==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Class 'R' Virtual Asset Custodian"},"legal_basis":[{"value":"Virtual Asset and Initial Token Offering Services Act 2021","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=VmlydHVhbCBBc3NldCBhbmQgSW5pdGlhbCBUb2tlbiBPZmZlcmluZyBTZXJ2aWNlcyBBY3QgMjAyMQ==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mu-vaitos-act-2021"],"activity_ids":["vasp-custody"],"passporting":"none","fees":{"application":{"value":"MUR 5,000,000 minimum capital requirement","source":"https://salvusfunds.com/2026/03/18/establishing-a-vasp-under-the-vaitos-act-in-mauritius-in-2026/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"5,000,000 MUR or its equivalent in any other fiat currency"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 23 of the Financial Services Act 2007 and Section 16 of the VAITOS Act 2021, any issue or transfer of shares or legal or beneficial interest in a licensee requires the prior approval of the FSC, and any unauthorized transfer is void. Prior approval is not required for transfers under 5% (unless resulting in an individual holding over 20% or a change of control) or transfers to existing shareholders that do not alter control, both of which require written notification to the Commission. A controller is defined as any person holding or controlling not less than 20% of shares or voting power, or able to exercise significant influence, or holding board appointment/removal powers. Controllers and beneficial owners are subject to fit and proper vetting.","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=RmluYW5jaWFsIFNlcnZpY2VzIEFjdA==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"except with the approval of the Commission"}},"answer":"The Virtual Asset Custodian (Class R) is issued by Financial Services Commission (FSC) under Virtual Asset and Initial Token Offering Services Act 2021. The application fee is MUR 5,000,000 minimum capital requirement. Ownership changes need the regulator's approval before completion.","derived_from":"fsc-mauritius","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/mauritius-class-r/","jurisdiction_name":"Mauritius","region":"offshore","regulator_name":"FSC","regulator_url":"/licensing/regulators/fsc-mauritius/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--MU--class-s","family":"vasp","jurisdiction":"MU","regulator_id":"fsc-mauritius","official_name":{"value":"Virtual Asset Market Place (Class S)","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=VmlydHVhbCBBc3NldCBhbmQgSW5pdGlhbCBUb2tlbiBPZmZlcmluZyBTZXJ2aWNlcyBBY3QgMjAyMQ==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"Class 'S' Virtual Asset Market Place"},"legal_basis":[{"value":"Virtual Asset and Initial Token Offering Services Act 2021","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=VmlydHVhbCBBc3NldCBhbmQgSW5pdGlhbCBUb2tlbiBPZmZlcmluZyBTZXJ2aWNlcyBBY3QgMjAyMQ==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["mu-vaitos-act-2021"],"activity_ids":["vasp-exchange"],"passporting":"none","fees":{"application":{"value":"MUR 6,500,000 minimum capital requirement","source":"https://salvusfunds.com/2026/03/18/establishing-a-vasp-under-the-vaitos-act-in-mauritius-in-2026/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"6,500,000 MUR or its equivalent in any other fiat currency"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"Under Section 23 of the Financial Services Act 2007 and Section 16 of the VAITOS Act 2021, any issue or transfer of shares or legal or beneficial interest in a licensee requires the prior approval of the FSC, and any unauthorized transfer is void. Prior approval is not required for transfers under 5% (unless resulting in an individual holding over 20% or a change of control) or transfers to existing shareholders that do not alter control, both of which require written notification to the Commission. A controller is defined as any person holding or controlling not less than 20% of shares or voting power, or able to exercise significant influence, or holding board appointment/removal powers. Controllers and beneficial owners are subject to fit and proper vetting.","source":"https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=RmluYW5jaWFsIFNlcnZpY2VzIEFjdA==&docnumber=&doctype=act","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"except with the approval of the Commission"}},"answer":"The Virtual Asset Market Place (Class S) is issued by Financial Services Commission (FSC) under Virtual Asset and Initial Token Offering Services Act 2021. The application fee is MUR 6,500,000 minimum capital requirement. Ownership changes need the regulator's approval before completion.","derived_from":"fsc-mauritius","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/mauritius-class-s/","jurisdiction_name":"Mauritius","region":"offshore","regulator_name":"FSC","regulator_url":"/licensing/regulators/fsc-mauritius/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--SC","family":"vasp","jurisdiction":"SC","regulator_id":"fsa-seychelles","official_name":{"value":"Virtual Asset Service Provider Licence / Registration (Wallet Provider, Exchange, Broking, Investment Provider) under the Virtual Asset Service Providers Act 2024","source":"https://fsaseychelles.sc/vasp/faqs","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Virtual Asset Service Providers Act, 2024","source":"https://fsaseychelles.sc/vasp/legal-framework","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sc-virtual-asset-service-providers-act-2024"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","fees":{"application":{"value":"SCR 75,000 (licence application); SCR 22,500 (registration application)","source":"https://fsaseychelles.sc/vasp/faqs","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"annual":{"value":"SCR 75,000 base fee, plus an activity fee per licensed category: SCR 300,000 (Virtual Asset Wallet Provider), SCR 375,000 (Virtual Asset Exchange), SCR 150,000 (Virtual Asset Broking), SCR 75,000 (Virtual Asset Investment Provider); fees for multiple activities are additive","source":"https://fsaseychelles.sc/vasp/faqs","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}},"change_of_control":{"approval_type":null,"summary":null},"register_url":{"value":"https://fsaseychelles.sc/vasp/licensed-vasps","source":"https://fsaseychelles.sc/vasp/licensed-vasps","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"licensee_count":{"value":9,"source":"https://fsaseychelles.sc/vasp/licensed-vasps","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"successfully submitted a complete application to the Authority"},"answer":"The Virtual Asset Service Provider Licence / Registration (Wallet Provider, Exchange, Broking, Investment Provider) under the Virtual Asset Service Providers Act 2024 is issued by Financial Services Authority (Seychelles) (FSA) under Virtual Asset Service Providers Act, 2024. The official register lists 9 current holders. The application fee is SCR 75,000 (licence application); SCR 22,500 (registration application). Ownership changes need the regulator's approval before completion.","derived_from":"fsa-seychelles","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/seychelles/","jurisdiction_name":"Seychelles","region":"offshore","regulator_name":"FSA","regulator_url":"/licensing/regulators/fsa-seychelles/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--SV","family":"vasp","jurisdiction":"SV","regulator_id":"cnad-el-salvador","official_name":{"value":"Proveedor de Servicios de Activos Digitales (PSAD) registration","source":"https://cnad.gob.sv/how-to-register/register-as-digital-assets-service-provider-dasp/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"},"legal_basis":[{"value":"Ley de Emisión de Activos Digitales (Digital Assets Issuance Law), Decreto Legislativo No. 643","source":"https://cnad.gob.sv/wp-content/uploads/2024/08/1.-Ley-de-Emision-de-Activos-Digitales-DL-643.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["sv-digital-assets-issuance-law"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","fees":{"application":{"value":"USD 5,475","source":"https://cnad.gob.sv/how-to-register/register-as-digital-assets-service-provider-dasp/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"initial registration fee"}},"timelines":{"statutory":{"value":"20 business days for CNAD to evaluate a complete PSAD application","source":"https://cnad.gob.sv/how-to-register/register-as-digital-assets-service-provider-dasp/","source_type":"primary","as_of":"2026-09-24","checked_by":"agy","quote":"20 días hábiles"}},"change_of_control":{"approval_type":null,"summary":null},"register_url":{"value":"https://cnad.gob.sv/es/registro-publico/proveedores-de-servicio-de-activos-digitales/","source":"https://cnad.gob.sv/es/registro-publico/proveedores-de-servicio-de-activos-digitales/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"licensee_count":{"value":"At least 42 confirmed by registration numbers PSAD-0051 to PSAD-0097 visible on the live register on 2026-09-24 (the page does not render a stated total or earlier entries); a March 2026 Cointelegraph/TradingView report put the figure at 64 authorised companies","source":"https://cnad.gob.sv/es/registro-publico/proveedores-de-servicio-de-activos-digitales/","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"},"answer":"The Proveedor de Servicios de Activos Digitales (PSAD) registration is issued by National Commission of Digital Assets (CNAD) under Ley de Emisión de Activos Digitales (Digital Assets Issuance Law), Decreto Legislativo No. 643. The legal decision period is 20 business days for CNAD to evaluate a complete PSAD application. The application fee is USD 5,475. Ownership changes need the regulator's approval before completion.","derived_from":"cnad-el-salvador","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/el-salvador/","jurisdiction_name":"El Salvador","region":"americas","regulator_name":"CNAD","regulator_url":"/licensing/regulators/cnad-el-salvador/","family_short":"VASP","capital_eur":null,"months":0.9},{"id":"vasp--VG","family":"vasp","jurisdiction":"VG","regulator_id":"bvi-fsc","official_name":{"value":"Virtual Assets Service Provider Registration","source":"https://www.sterlingtonlaw.com/legal-update-new-british-virgin-islands-laws-for-virtual-asset-service-providers/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"came into force on 1 February 2023"},"legal_basis":[{"value":"Virtual Assets Service Providers Act, 2022","source":"https://www.bvifsc.vg/sites/default/files/virtual_assets_service_providers_act_2022.pdf","source_type":"primary","as_of":"2026-09-24","checked_by":"agy"}],"law_ids":["vg-virtual-assets-service-providers-act-2022"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody","vasp-issuer-services"],"passporting":"none","timelines":{"observed":{"value":"FSC aims to give initial feedback on a VASP registration application within six weeks, depending on submission quality","source":"https://www.vistra.com/insights/navigating-virtual-asset-service-provider-licensing-british-virgin-islands-guide","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"aims to provide initial feedback within six weeks"}},"change_of_control":{"approval_type":"prior_approval","summary":{"value":"For SIBA investment business licensees, acquiring, disposing of, or issuing shares that create or change a 'significant interest' - defined as 10% or more of voting rights, distributions, or the power to appoint/remove directors - needs prior written FSC consent; licensees separately notify the FSC within 14 days of certain interest transfers. For BVI-recognised mutual funds (not licensees), there is no ownership threshold trigger; instead the fund gives 7 days' prior notice of a new functionary (manager, administrator, custodian) and reports director/auditor/authorised-representative or offering-document changes within 14 days, per the Mutual Funds Regulations 2010 and the Incubator and Approved Funds Regulations.","source":"https://www.ogier.com/news-and-insights/insights/ongoing-regulatory-obligations-for-investment-business-licensees/","source_type":"secondary","as_of":"2026-09-24","checked_by":"agy","quote":"transferring significant interests (10% stake or ability to appoint/remove directors)"}},"answer":"The Virtual Assets Service Provider Registration is issued by British Virgin Islands Financial Services Commission (BVI FSC) under Virtual Assets Service Providers Act, 2022. It covers virtual asset exchange, virtual asset transfer and virtual asset safekeeping. It is valid in British Virgin Islands only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.","derived_from":"bvi-fsc","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/bvi/","jurisdiction_name":"British Virgin Islands","region":"offshore","regulator_name":"BVI FSC","regulator_url":"/licensing/regulators/bvi-fsc/","family_short":"VASP","capital_eur":null,"months":null},{"id":"vasp--ZA","family":"vasp","jurisdiction":"ZA","regulator_id":"fsca-south-africa","official_name":{"value":"Crypto Asset Service Provider licence (an FSP authorisation category under FAIS, not a MiCA-equivalent regime)","source":"https://www.fanews.co.za/article/compliance-regulatory/2/financial-sector-conduct-authority-fsca-was-fsb/1059/update-on-licensing-and-supervision-of-crypto-asset-service-providers/43764","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude"},"legal_basis":[{"value":"Financial Advisory and Intermediary Services Act 37 of 2002","source":"https://www.gov.za/documents/financial-advisory-and-intermediary-services-act","source_type":"primary","as_of":"2026-09-24","checked_by":"claude"}],"law_ids":["za-fais-act-2002"],"activity_ids":["vasp-exchange","vasp-transfer","vasp-custody"],"passporting":"none","change_of_control":{"approval_type":"notification","summary":{"value":"A 'significant owner' under FSR Act s157 is anyone able to control or materially influence an FSP's business or strategy, presumed at the power to appoint 15% of the governing body or holding a qualifying stake. For an ordinary FSP (not a bank, insurer, market infrastructure or CIS manager), FSR Act s158 prior-approval does not apply; the FSP must instead notify the FSCA of significant ownership. A new key individual, however, needs FSCA fit-and-proper approval (FAIS s8(4)(b), form FSP4D) before acting, and non-compliance must be notified within 30 days.","source":"https://www.moonstone.co.za/honesty-and-integrity-requirement-now-applies-to-the-significant-owners-of-fsps/","source_type":"secondary","as_of":"2026-09-24","checked_by":"claude","quote":"a person is a significant owner... can control or materially influence the institution's business or"}},"register_url":{"value":"https://www.fanews.co.za/article/compliance-regulatory/2/financial-sector-conduct-authority-fsca-was-fsb/1059/update-on-licensing-and-supervision-of-crypto-asset-service-providers/43764","source":"https://www.fanews.co.za/article/compliance-regulatory/2/financial-sector-conduct-authority-fsca-was-fsb/1059/update-on-licensing-and-supervision-of-crypto-asset-service-providers/43764","source_type":"primary","as_of":"2026-03-31","checked_by":"claude"},"licensee_count":{"value":310,"source":"https://www.fanews.co.za/article/compliance-regulatory/2/financial-sector-conduct-authority-fsca-was-fsb/1059/update-on-licensing-and-supervision-of-crypto-asset-service-providers/43764","source_type":"secondary","as_of":"2026-03-31","checked_by":"claude","quote":"the FSCA had received a total of 533 CASP licence applications, of which 310 have"},"answer":"The Crypto Asset Service Provider licence (an FSP authorisation category under FAIS, not a MiCA-equivalent regime) is issued by Financial Sector Conduct Authority (FSCA) under Financial Advisory and Intermediary Services Act 37 of 2002. The official register lists 310 current holders. Ownership changes need the regulator's approval before completion.","derived_from":"fsca-south-africa","editorial_note":"activity_ids and passporting are the Atlas mapping of this licence family onto the EU/FATF reference lists; the facts above are copied from the verified regulator dossier.","type":"licence","url":"/licensing/licences/vasp/south-africa/","jurisdiction_name":"South Africa","region":"africa","regulator_name":"FSCA","regulator_url":"/licensing/regulators/fsca-south-africa/","family_short":"VASP","capital_eur":null,"months":null}]