Electronic money institution (EMI)
An electronic money institution (EMI) licence authorises a company to issue electronic money and to provide payment services. In the EU and EEA it rests on the second E-Money Directive, carries minimum own funds of EUR 350,000 and can be passported to every member state. Outside Europe, comparable regimes exist under national payment and stored-value laws.
Where the EMI licence is available
Comparison by country
| Country | Regulator | Min. capital | Statutory time | Passport |
|---|---|---|---|---|
| Czech Republic | CNB | n/a | 1 mo | Domestic |
| Czech Republic | CNB | n/a | 3 mo | EU/EEA |
| Estonia | FI | n/a | n/a | EU/EEA |
| Estonia | FI | n/a | 3 mo | EU/EEA |
| Germany | BaFin | n/a | 3 mo | EU/EEA |
| Ireland | CBI | n/a | n/a | Domestic |
| Ireland | CBI | n/a | n/a | EU/EEA |
| Latvia | LB | n/a | 0.7 mo | EU/EEA |
| Latvia | LB | n/a | 0.7 mo | EU/EEA |
| Lithuania | LB | n/a | n/a | Domestic |
| Lithuania | LB | EUR 350,000 | 3 mo | EU/EEA |
| Luxembourg | CSSF | n/a | 3 mo | EU/EEA |
| Malta | MFSA | n/a | 3 mo | EU/EEA |
| Netherlands | DNB | n/a | n/a | Domestic |
| Netherlands | DNB | n/a | 3 mo | EU/EEA |
| Poland | KNF | n/a | 3 mo | EU/EEA |
| Slovakia | NBS | n/a | n/a | EU/EEA |
| Spain | BdE | n/a | 3 mo | EU/EEA |
| United Kingdom | FCA | n/a | n/a | Domestic |
| United Kingdom | FCA | n/a | 3 mo | Domestic |
Values come from each country's page, where every figure has its source.
Activities this family typically covers
- Issuing e-money tokens
- Cash placement on a payment account
- Cash withdrawal from a payment account
- Execution of payment transactions
- Execution of payment transactions covered by a credit line
- Issuing payment instruments and acquiring payment transactions
- Money remittance
- Payment initiation services
- Account information services
- Issuing electronic money
All licences in this family
- EMI · Czech Republic
Small-scale Electronic Money Issuer authorisation (povolení k činnosti malého vydavatele elektronických peněz - VEPMR)
CNB
- EMI · Czech Republic
Electronic Money Institution licence (povolení k činnosti instituce elektronických peněz)
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 (Erlaubnis für das E-Geld-Geschäft nach § 11 ZAG)
BaFin
- EMI · Ireland
Small Electronic Money Institution Registration
CBI
- 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
Exempt electronic money institution registration (Vrijstelling elektronischgeldinstelling)
DNB
- EMI · Netherlands
Electronic money institution licence (Vergunning elektronischgeldinstelling)
DNB
- EMI · Poland
Electronic Money Institution licence (krajowa instytucja pieniądza elektronicznego - KIO)
KNF
- EMI · Slovakia
Electronic money institution licence (povolenie na vydávanie a správu elektronických peňazí bez obmedzenia rozsahu)
NBS
- EMI · Spain
Entidad de dinero electrónico (EDE) / Electronic money institution authorization
BdE
- EMI · United Kingdom
Small Electronic Money Institution (SEMI) Registration
FCA
- EMI · United Kingdom
Authorised Electronic Money Institution (AEMI)
FCA
Sources
- EMD2 Directive 2009/110/EC, Art. 4 (initial capital EUR 350,000) · retrieved 2026-09-24
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