Fintech licences
Fintech licences fall into 12 families: e-money, payments, money transmission, crypto under MiCA, crypto outside the EU, stablecoins, investment firms, fund managers, banks, lending, gaming and trust services. Start from a family to compare countries, or open a concrete licence for its regulator, capital, fees, timeline and change-of-control rules.
Licence families
- EMI · 18 countries
Electronic money institution (EMI)
An electronic money institution (EMI) licence lets a company issue electronic money and provide payment services.
- PI · 28 countries
Payment institution (PI)
A payment institution (PI) licence covers payment services: money remittance, executing transfers, card acquiring, payment initiation and account information.
- MSB · 6 countries
Money transmitter / money services business (MSB)
A money services business (MSB) or money transmitter authorisation covers transferring funds, exchanging currency and, in many regimes, dealing in virtual currency.
- CASP · 16 countries
Crypto-asset service provider (MiCA CASP)
A crypto-asset service provider (CASP) authorisation under the EU's Markets in Crypto-Assets Regulation (MiCA) lets a company offer crypto services: custody, exchange, trading platforms, transfers and advice.
- VASP · 28 countries
Virtual asset service provider (non-MiCA)
A virtual asset service provider (VASP) licence or registration is the non-EU equivalent of a crypto authorisation, built on the FATF definition of virtual asset activities.
- EMT/ART · 5 countries
Stablecoin / e-money token issuer
A stablecoin issuer authorisation lets a company issue tokens pegged to a currency or a basket of assets.
- IF · 42 countries
Investment firm / broker-dealer
An investment firm or broker-dealer licence covers investment services: receiving and executing client orders, dealing on own account, portfolio management and investment advice on financial instruments, CFDs and forex included.
- FM · 28 countries
Fund manager
A fund manager licence lets a company run collective investment schemes such as alternative investment funds or UCITS.
- Bank · 22 countries
Bank / credit institution
A banking licence lets a company take deposits from the public and grant credit on its own account.
- Credit · 23 countries
Lending / consumer credit
A lending or consumer credit licence lets a non-bank company grant loans, usually to consumers, funded from its own capital rather than customer deposits.
- Gaming · 5 countries
Gaming and betting
A gaming licence lets a company offer online casino games, betting or lotteries straight to players, that is B2C, or supply games and platforms to operators, B2B.
- TCSP · 8 countries
Trust and corporate service provider (TCSP)
A trust and corporate service provider (TCSP) licence covers company formation, directorship and nominee services, a registered office and trust administration.
All concrete licences
- Bank · Abu Dhabi Global Market (ADGM)
Financial Services Permission for Accepting Deposits
Financial Services Permission for Accepting Deposits (Category 1 Commercial Bank)FSRA
- Bank · Bermuda
Banking Licence / Deposit Company Licence / Restricted Banking Licence
Banking Licence / Deposit Company Licence / Restricted Banking Licence (Banks and Deposit Companies Act 1999)BMA
- Bank · Cayman Islands
Bank Licence
Bank Licence (Category A and Category B) under the Banks and Trust Companies ActCIMA
- Bank · Czech Republic
Commercial Bank licence
CNB
- Bank · Dubai International Financial Centre (DIFC)
Bank licence
Financial Services Permission for Accepting Deposits or Providing Credit (Category 1 Commercial Bank)DFSA
- Bank · Estonia
Credit institution authorisation (bank)
FI
- Bank · Georgia
Commercial bank licence
NBG
- Bank · Germany
CRR)
BaFin
- Bank · Ireland
Banking Licence
Banking Licence (Section 9 Central Bank Act 1971)CBI
- Bank · Latvia
Credit institution licence (bank)
LB
- Bank · Lithuania
Specialised bank licence
LB
- Bank · Lithuania
Bank licence
LB
- Bank · Luxembourg
Credit institution authorisation
CSSF
- Bank · Malta
Credit institution licence
MFSA
- Bank · Netherlands
Bank licence
Bank licence (Vergunning bank / kredietinstelling)DNB
- Bank · Poland
Commercial Bank licence
KNF
- Bank · Singapore
Banking Licence
Banking Licence (Full Bank, Wholesale Bank, Digital Bank)MAS
- Bank · Slovakia
Banking licence
NBS
- Bank · Spain
Commercial bank licence
BdE
- Bank · Switzerland
FinTech licence (Persons
FinTech licence (Persons pursuant to Article 1b Banking ActFINMA
- Bank · Switzerland
Banking licence
FINMA
- Bank · United Arab Emirates
Commercial Bank Licence
CBUAE
- CASP · Cyprus
Notification by financial entities providing crypto-asset services
Notification by financial entities providing crypto-asset services under MiCAR Article 60CySEC
- CASP · Cyprus
Crypto-Asset Service Provider (CASP) authorisation
Crypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63CySEC · capital EUR 50,000
- CASP · Czech Republic
Crypto-Asset Service Provider authorisation
Crypto-Asset Service Provider authorisation under MiCA and Act No. 31/2025 Coll.CNB · capital EUR 50,000
- CASP · Estonia
Authorisation to operate as a crypto-asset service provider
Authorisation to operate as a crypto-asset service provider under MiCAFI
- CASP · France
Crypto-asset service provider authorization
Crypto-asset service provider authorization under EU MiCA RegulationAMF
- CASP · Germany
Crypto-asset service provider licence
BaFin
- CASP · Ireland
Crypto-Asset Service Provider Authorisation
CBI
- CASP · Italy
Crypto-asset service provider (CASP) authorization
CONSOB
- CASP · Latvia
Crypto-asset service provider licence
Crypto-asset service provider licence under MiCALB · capital EUR 50,000
- CASP · Lithuania
Crypto-asset service provider licence
LB · capital EUR 50,000
- CASP · Luxembourg
Crypto-asset service provider authorisation
Crypto-asset service provider authorisation under MiCA RegulationCSSF
- CASP · Malta
Crypto-Asset Service Provider authorisation
Crypto-Asset Service Provider authorisation under Regulation (EU) 2023/1114MFSA · capital EUR 50,000
- CASP · Netherlands
Crypto-Asset Service Provider (CASP) authorisation
Crypto-Asset Service Provider (CASP) authorisation under Regulation (EU) 2023/1114 (MiCA)AFM · capital EUR 50,000
- CASP · Poland
Crypto-Asset Service Provider authorization
Crypto-Asset Service Provider authorization under MiCAKNF · capital EUR 50,000
- CASP · Slovakia
Crypto-asset service provider licence
Crypto-asset service provider licence under MiCANBS · capital EUR 50,000
- CASP · Spain
Crypto-asset service provider authorization
CNMV
- EMI · Czech Republic
Small-scale Electronic Money Issuer authorisation
CNB
- EMI · Czech Republic
Electronic Money Institution licence
CNB
- EMI · Estonia
Electronic money institution operating with an exception
FI
- EMI · Estonia
Operating licence as an electronic money institution
FI
- EMI · Germany
Electronic money institution licence
BaFin
- EMI · Ireland
Electronic Money Institution Authorisation
CBI
- EMI · Latvia
Registered electronic money institution
LB
- EMI · Latvia
Authorised electronic money institution licence
LB
- EMI · Lithuania
Electronic money institution licence for restricted activity
LB
- EMI · Lithuania
Electronic money institution licence for non-limited activity
LB · capital EUR 350,000
- EMI · Luxembourg
Electronic money institution authorisation
CSSF
- EMI · Malta
Electronic money institution licence
MFSA
- EMI · Netherlands
Electronic money institution licence
Electronic money institution licence (Vergunning elektronischgeldinstelling)DNB
- EMI · Poland
Electronic Money Institution licence
KNF
- EMI · Slovakia
Electronic money institution licence
NBS
- EMI · Spain
Electronic money institution authorization
BdE
- EMI · United Kingdom
Small Electronic Money Institution (SEMI) Registration
FCA
- EMI · United Kingdom
Authorised Electronic Money Institution (AEMI)
FCA
- FM · Abu Dhabi Global Market (ADGM)
Fund manager licence
Financial Services Permission for Managing a Collective Investment Fund (Category 3C)FSRA
- FM · Bermuda
Fund Administrator Licence
Fund Administrator Licence (Part III, Investment Funds Act 2006)BMA
- FM · British Virgin Islands
Fund manager licence
BVI mutual fund recognition (private/professional fund), registration (public fund) or approval (incubator/approved fund) - funds are recognised/registered/approved, not 'licensed'BVI FSC
- FM · Cayman Islands
Regulated Mutual Fund
Regulated Mutual Fund (registered, master, or administered fund under the Mutual Funds Act)CIMA
- FM · Cayman Islands
Registered Private Fund
Registered Private Fund under the Private Funds ActCIMA
- FM · Cyprus
Alternative Investment Fund Manager (AIFM) authorisation
CySEC
- FM · Cyprus
Sub-threshold Alternative Investment Fund Manager registration
CySEC
- FM · Cyprus
UCITS Management Company authorisation
CySEC
- FM · Czech Republic
Sub-threshold Alternative Investment Fund Manager registration
Sub-threshold Alternative Investment Fund Manager registration pursuant to Section 15 of AMCIFCNB
- FM · Czech Republic
Investment Company / Fund Manager licence
CNB
- FM · Dubai International Financial Centre (DIFC)
Fund manager licence
Financial Services Permission for Managing a Collective Investment Fund (Category 3C)DFSA
- FM · Estonia
Small fund manager registration without activity licence
FI
- FM · Estonia
Operating licence as a fund management company
FI
- FM · France
Portfolio management company authorisation
AMF
- FM · Germany
Investment management company licence
BaFin
- FM · Ireland
Alternative Investment Fund Manager (AIFM) Authorisation/Registration
CBI
- FM · Ireland
UCITS Management Company Authorisation
CBI
- FM · Luxembourg
Alternative investment fund manager (AIFM) authorisation
CSSF
- FM · Luxembourg
Management company authorised
Management company authorised under Chapter 15 of the Law of 17 December 2010CSSF
- FM · Netherlands
Alternative Investment Fund Manager (AIFM) licence
Alternative Investment Fund Manager (AIFM) licence under Wft Article 2:65 and Directive 2011/61/EUAFM
- FM · Netherlands
Fund manager licence
Undertakings for Collective Investment in Transferable Securities (UCITS / ICBE) registration under Wft and Directive 2009/65/ECAFM
- FM · Poland
Investment Fund Company licence
KNF
- FM · Poland
Alternative Investment Company Manager registration / licence
KNF
- FM · Seychelles
Fund Administrator's Licence
Fund Administrator's Licence (and Restricted Fund Administrator's Licence) under the Mutual Fund and Hedge Fund Act 2008FSA
- FM · Spain
Fund manager licence (SGIIC)
CNMV
- FM · Switzerland
Fund management company licence
FINMA
- FM · Switzerland
Manager of collective assets licence
FINMA
- FM · United Kingdom
Fund manager licence
Alternative Investment Fund Manager (AIFM) Authorisation / RegistrationFCA
- Gaming · Curaçao
Supplier Licence
Supplier Licence (B2B platform/software licence) under the LOKCGA
- Gaming · Curaçao
Online Gaming Licence (B2C operating licence)
Online Gaming Licence (B2C operating licence) under the LOKCGA
- Gaming · Malta
Critical Gaming Supply Licence
Critical Gaming Supply Licence (B2B Game Providers and Back Office)MGA
- Gaming · Malta
Gaming Service Licence
MGA
- Gaming · Malta
Recognition Notice Certificate
MGA
- IF · Abu Dhabi Global Market (ADGM)
Investment firm licence
Financial Services Permission for Dealing in Investments as Principal (Category 2)FSRA
- IF · Abu Dhabi Global Market (ADGM)
Investment firm licence
Financial Services Permission for Dealing in Investments as Agent or Matched Principal (Category 3A)FSRA
- IF · Abu Dhabi Global Market (ADGM)
Investment firm licence
Financial Services Permission for Advising on Investments or Arranging Deals in Investments (Category 4)FSRA
- IF · Australia
Australian financial services licence (AFSL)
ASIC
- IF · Bermuda
Investment Business Licence
Investment Business Licence (standard licence, under the Investment Business Act 2003)BMA
- IF · British Virgin Islands
Investment Business Licence
Investment Business Licence (Categories 1-4: dealing, managing, advising, custody/administration of investments)BVI FSC
- IF · Cayman Islands
Securities Investment Business Licence / Registered Person
CIMA
- IF · Cyprus
Cyprus Investment Firm (CIF) authorisation
CySEC
- IF · Czech Republic
Investment Firm licence
CNB
- IF · Dubai International Financial Centre (DIFC)
Investment firm licence
Financial Services Permission for Dealing in Investments as Principal (Category 2)DFSA
- IF · Dubai International Financial Centre (DIFC)
Investment firm licence
Financial Services Permission for Dealing in Investments as Agent or Operating an Alternative Trading System (Category 3A)DFSA
- IF · Dubai International Financial Centre (DIFC)
Investment firm licence
Financial Services Permission for Advising on Financial Products or Arranging Deals in Investments (Category 4)DFSA
- IF · Estonia
Authorisation as an investment firm
FI
- IF · France
Financial investment adviser status
AMF
- IF · Germany
Investment firm licence
BaFin
- IF · Hong Kong
Type 1 Licence for Dealing in Securities
SFC
- IF · Hong Kong
Type 2 Licence for Dealing in Futures Contracts
SFC
- IF · Hong Kong
Type 4 Licence for Advising on Securities
SFC
- IF · Hong Kong
Type 6 Licence for Advising on Corporate Finance
SFC
- IF · Hong Kong
Type 7 Licence for Providing Automated Trading Services
SFC
- IF · Ireland
Investment Firm Authorisation (MiFID II)
CBI
- IF · Italy
Investment firm licence (SIM)
CONSOB
- IF · Latvia
Investment firm licence
LB
- IF · Lithuania
Financial brokerage firm licence
LB
- IF · Luxembourg
Investment firm authorisation
CSSF
- IF · Malaysia (Labuan)
Securities Licensee licence
Securities Licensee licence (dealing in / advising on securities)Labuan FSA
- IF · Malta
Investment services licence (Category 1, 2, or 3)
MFSA
- IF · Mauritius
Investment Adviser Licence
FSC
- IF · Mauritius
Investment Dealer Licence
FSC
- IF · Netherlands
Investment firm licence
Investment firm licence (Vergunning beleggingsonderneming) under Wft Article 2:96 and MiFID IIAFM
- IF · Poland
Brokerage House licence (dom maklerski)
KNF
- IF · Seychelles
Securities Dealer's Licence
FSA
- IF · Singapore
Capital Markets Services (CMS) Licence
MAS
- IF · Slovakia
Investment firm licence
NBS
- IF · South Africa
Financial Services Provider licence - Category I
Financial Services Provider licence - Category I (advice and/or intermediary services, non-discretionary, incl. crypto assets)FSCA
- IF · South Africa
Financial Services Provider licence - Category II (discretionary FSP)
FSCA
- IF · South Africa
Over-the-Counter Derivative Provider (ODP) authorisation
Over-the-Counter Derivative Provider (ODP) authorisation under the Financial Markets ActFSCA
- IF · Spain
AV) investment firm licence
CNMV
- IF · Spain
Empresa de Asesoramiento Financiero (EAF) licence
CNMV
- IF · Switzerland
Portfolio manager licence
FINMA
- IF · Switzerland
Securities firm licence
FINMA
- IF · United Kingdom
MIFIDPRU Investment Firm Authorisation (Part 4A FSMA)
FCA
- Credit · Australia
Australian credit licence (ACL)
ASIC
- Credit · Cyprus
European Crowdfunding Service Provider authorisation
CySEC
- Credit · Czech Republic
Non-bank Consumer Credit Provider licence
CNB
- Credit · Czech Republic
Crowdfunding Service Provider authorization
Crowdfunding Service Provider authorization under ECSPRCNB
- Credit · Estonia
Operating licence as a credit servicer
FI
- Credit · Estonia
Operating licence as a creditor
FI
- Credit · Estonia
Authorisation as a crowdfunding service provider
Authorisation as a crowdfunding service provider under ECSPRFI
- Credit · Estonia
Authorisation for operating as a financial institution
FIU
- Credit · Estonia
Operating licence as a credit intermediary
FI
- Credit · France
European crowdfunding service provider authorization
AMF
- Credit · Ireland
Crowdfunding Service Provider Authorisation (ECSPR)
CBI
- Credit · Italy
European crowdfunding service provider authorization (ECSPR)
CONSOB
- Credit · Latvia
Crowdfunding service provider authorization
LB
- Credit · Lithuania
Crowdfunding service provider authorization
LB
- Credit · Lithuania
Peer-to-peer lending platform operator
LB
- Credit · Luxembourg
Crowdfunding service provider authorisation
CSSF
- Credit · Netherlands
European Crowdfunding Service Provider (ECSPR) authorisation
European Crowdfunding Service Provider (ECSPR) authorisation under Regulation (EU) 2020/1503AFM
- Credit · Poland
Crowdfunding Service Provider authorization
Crowdfunding Service Provider authorization under ECSPRKNF
- Credit · Poland
Lending Institution registration
KNF
- Credit · Slovakia
Crowdfunding service provider authorisation
Crowdfunding service provider authorisation under ECSPRNBS
- Credit · Spain
European crowdfunding service provider authorization
CNMV
- Credit · Spain
Specialized lending credit institution authorization
BdE
- Credit · United Kingdom
Consumer Credit Full Permission Authorisation (Part 4A FSMA)
FCA
- MSB · Australia
Registration as a remittance service provider
Registration as a remittance service provider (remittance network provider or independent remittance dealer)AUSTRAC
- MSB · British Virgin Islands
Money Services Business Licence, Class A or Class B
Money Services Business Licence, Class A (money/electronic/mobile money transmission) or Class B (money orders, traveller's cheques, cheque cashing, currency exchange)BVI FSC
- MSB · Canada
Money services business (MSB) registration
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)FINTRAC
- MSB · Dubai International Financial Centre (DIFC)
Money transmitter licence
Financial Services Permission for Providing Money Services restricted to Money Transmission only (Category 4)DFSA
- MSB · Netherlands
Exchange institution licence
Exchange institution licence (Vergunning wisselinstelling)DNB
- MSB · United States
Registration of Money Services Business (Form 107 / RMSB)
FinCEN
- PI · Czech Republic
Account Information Service Provider authorisation
CNB
- PI · Czech Republic
Small-scale Payment Service Provider authorisation
CNB
- PI · Czech Republic
Payment Institution licence
CNB
- PI · Estonia
Payment institution operating with an exception
FI
- PI · Estonia
Operating licence as a payment institution
FI
- PI · Georgia
Payment institution licence
Registration as a Payment Service Provider (PSP) with the National Bank of GeorgiaNBG
- PI · Germany
Account information service provider registration
BaFin
- PI · Germany
Payment institution licence
BaFin
- PI · Ireland
Payment Institution Authorisation
CBI
- PI · Latvia
Registered payment institution
LB
- PI · Latvia
Authorised payment institution licence
LB
- PI · Lithuania
Payment institution licence for restricted activity
LB
- PI · Lithuania
Payment institution licence
LB
- PI · Luxembourg
Payment institution authorisation
CSSF
- PI · Malta
Account information service provider registration
MFSA
- PI · Malta
Payment institution licence
MFSA
- PI · Netherlands
Payment institution licence
Payment institution licence (Vergunning betaalinstelling)DNB
- PI · Poland
Account Information Service Provider registration
KNF
- PI · Poland
National Payment Institution licence
KNF
- PI · Poland
Small Payment Institution registration
KNF
- PI · Singapore
Major Payment Institution Licence
MAS
- PI · Singapore
Standard Payment Institution Licence
MAS
- PI · Slovakia
Payment institution licence
NBS
- PI · Spain
Payment institution authorization
BdE
- PI · United Arab Emirates
Retail Payment Services Licence (Categories I to IV)
CBUAE
- PI · United Kingdom
Registered Account Information Service Provider (RAISP)
FCA
- PI · United Kingdom
Small Payment Institution (SPI) Registration
FCA
- PI · United Kingdom
Authorised Payment Institution (API)
FCA
- EMT/ART · Luxembourg
Electronic money token issuer authorisation / notification
Electronic money token issuer authorisation / notification under MiCA RegulationCSSF
- EMT/ART · Netherlands
Asset-referenced token (ART) issuer licence
Asset-referenced token (ART) issuer licence under EU MiCADNB
- EMT/ART · Netherlands
E-money token (EMT) issuer notification
E-money token (EMT) issuer notification under EU MiCADNB
- EMT/ART · Spain
MiCA EMT and ART token issuer authorization
BdE
- EMT/ART · United Arab Emirates
Payment Token Issuer Licence (Dirham Payment Tokens)
CBUAE
- TCSP · Cayman Islands
Trust Licence / Nominee Trust Company Licence
Trust Licence / Nominee Trust Company Licence under the Banks and Trust Companies ActCIMA
- TCSP · Cyprus
Administrative Services Provider (ASP) authorisation
CySEC
- TCSP · Estonia
Authorisation for providing trust and company services
FIU
- TCSP · Malta
Company service provider authorisation (Class A, B, or C)
MFSA
- TCSP · Netherlands
Trust office licence (Vergunning trustkantoor)
DNB
- TCSP · Seychelles
International Corporate Service Provider (ICSP) Licence
International Corporate Service Provider (ICSP) Licence under the International Corporate Service Providers Act 2003FSA
- TCSP · Singapore
Trust Company Licence
MAS
- TCSP · Switzerland
Trustee licence
FINMA
- VASP · Abu Dhabi Global Market (ADGM)
VASP licence
Financial Services Permission with Virtual Asset Activities EndorsementFSRA · capital USD 250,000
- VASP · Australia
VASP licence
Registration as a virtual asset service provider (VASP) on the AUSTRAC Virtual Asset Service Provider Register (formerly the Digital Currency Exchange Register)AUSTRAC
- VASP · Bermuda
Digital Asset Business Class F (Full) Licence
BMA
- VASP · Bermuda
Digital Asset Business Class M (Modified) Licence
BMA
- VASP · Bermuda
Digital Asset Business Class T (Test) Licence
BMA
- VASP · British Virgin Islands
Virtual Assets Service Provider Registration
BVI FSC
- VASP · Cayman Islands
Virtual Asset Service Provider Licence
CIMA
- VASP · Cayman Islands
Virtual Asset Service Provider Registration
CIMA
- VASP · Dubai (VARA)
Virtual Asset Advisory Services Licence
VARA · capital AED 100,000
- VASP · Dubai (VARA)
Virtual Asset Broker-Dealer Services Licence
VARA · capital AED 600,000
- VASP · Dubai (VARA)
Virtual Asset Custody Services Licence
VARA · capital AED 600,000
- VASP · Dubai (VARA)
Virtual Asset Exchange Services Licence
VARA · capital AED 1,500,000
- VASP · Dubai (VARA)
Virtual Asset Lending and Borrowing Services Licence
VARA · capital AED 500,000
- VASP · Dubai (VARA)
Virtual Asset Management and Investment Services Licence
VARA · capital AED 500,000
- VASP · Dubai (VARA)
Virtual Asset Transfer and Settlement Services Licence
VARA · capital AED 500,000
- VASP · Dubai International Financial Centre (DIFC)
Financial Services Permission with Crypto Token Activities Endorsement
DFSA · capital USD 1,000,000
- VASP · El Salvador
Proveedor de Servicios de Activos Digitales (PSAD) registration
CNAD · capital USD 2,000
- VASP · Germany
Qualified crypto custody licence
BaFin
- VASP · Ireland
Virtual Asset Service Provider AML/CFT Registration
CBI
- VASP · Mauritius
Virtual Asset Advisory Services (Class I)
FSC
- VASP · Mauritius
Virtual Asset Broker-Dealer (Class M)
FSC
- VASP · Mauritius
Virtual Asset Wallet Services (Class O)
FSC
- VASP · Mauritius
Virtual Asset Custodian (Class R)
FSC
- VASP · Mauritius
Virtual Asset Market Place (Class S)
FSC
- VASP · Seychelles
Virtual Asset Service Provider Licence / Registration
Virtual Asset Service Provider Licence / Registration (Wallet Provider, Exchange, Broking, Investment Provider) under the Virtual Asset Service Providers Act 2024FSA
- VASP · South Africa
Crypto Asset Service Provider licence
Crypto Asset Service Provider licence (an FSP authorisation category under FAIS, not a MiCA-equivalent regime)FSCA
- VASP · Switzerland
Financial intermediary / VASP SRO affiliation
FINMA · capital CHF 10,000,000
- VASP · United Kingdom
Cryptoasset Business Registration (MLRs 2017)
FCA
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