Electronic money institution licence (Vergunning elektronischgeldinstelling) (Netherlands)
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.
At a glance
| Official name | Electronic money institution licence (Vergunning elektronischgeldinstelling)1 |
|---|---|
| Also known as | EMI · Elektronischgeldinstelling · Dutch EMI licence · DNB EMI licence · Netherlands e-money institution licence |
| Issued by | De Nederlandsche Bank |
| Jurisdiction | Netherlands |
| Licence family | Electronic money institution (EMI) |
| Legal basis | Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EMD2)2 |
| Passporting | EU/EEA passport available |
| Application fee | EUR 6,8003 |
| Statutory decision time | 3 months from receipt of a complete application4 |
What it lets you do
| Issuing electronic money | Issuing monetary value stored electronically against funds received, redeemable at par and accepted by third parties as payment. |
|---|---|
| Execution of payment transactions | Executing direct debits, card payments and credit transfers, including standing orders, from a payment account. |
| Money remittance | Receiving funds from a payer solely to transfer them to a payee or another provider, without opening payment accounts. |
| Issuing payment instruments and acquiring payment transactions | Issuing cards or other payment instruments to payers, and acquiring card and other payment transactions for merchants. |
| Payment initiation services | Initiating a payment order at the user's request from an account held with another provider, as in open banking. |
| Account information services | Providing consolidated online information on one or more payment accounts the user holds with other providers. |
Where it is valid
Cost
How long it takes
Statutory: 3 months from receipt of a complete application4. Observed: not published. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Prior approval required. 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.5
EMI in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Czech Republic | Small-scale Electronic Money Issuer authorisation | CNB | n/a | CZK 10,000 | ~1 mo |
| Czech Republic | Electronic Money Institution licence | CNB | n/a | CZK 50,000 | ~3 mo |
| Estonia | Electronic money institution operating with an exception | FI | n/a | n/a | n/a |
| Estonia | Operating licence as an electronic money institution | FI | n/a | n/a | ~3 mo |
| Germany | Electronic money institution licence | BaFin | n/a | n/a | ~3 mo |
| Ireland | Electronic Money Institution Authorisation | CBI | n/a | n/a | n/a |
| Latvia | Registered electronic money institution | LB | n/a | EUR 2,500 | ~1.7 mo |
| Latvia | Authorised electronic money institution licence | LB | n/a | EUR 5,000 | ~3.7 mo |
| Lithuania | Electronic money institution licence for restricted activity | LB | n/a | n/a | n/a |
| Lithuania | Electronic money institution licence for non-limited activity | LB | EUR 350,000 | EUR 1,463 | ~3 mo |
| Luxembourg | Electronic money institution authorisation | CSSF | n/a | EUR 30,000 | ~3 mo |
| Malta | Electronic money institution licence | MFSA | n/a | EUR 15,000 | ~3 mo |
| Netherlands | Electronic money institution licenceElectronic money institution licence (Vergunning elektronischgeldinstelling) | DNB | n/a | EUR 6,800 | ~3 mo |
| Poland | Electronic Money Institution licence | KNF | n/a | EUR 1,250 | ~3 mo |
| Slovakia | Electronic money institution licence | NBS | n/a | n/a | n/a |
| Spain | Electronic money institution authorization | BdE | n/a | n/a | ~3 mo |
| United Kingdom | Small Electronic Money Institution (SEMI) Registration | FCA | n/a | GBP 1,130 | n/a |
| United Kingdom | Authorised Electronic Money Institution (AEMI) | FCA | n/a | GBP 5,640 | ~3 mo |
Values come from each licence's page, where every figure has its source.
Variants of this licence
Laws behind it
Sources
- dnb.nl: authorisation as an electronic money institution overview · retrieved 2026-09-24
- EUR-Lex: CELEX 32009L0110 · retrieved 2026-09-24
- wetten.overheid.nl: 2024 12 30 · retrieved 2026-09-24
- dnb.nl: how long will it take to consider my application for authori · retrieved 2026-09-24
- dnb.nl: dno application time frame · retrieved 2026-09-24
- dnb.nl: exemption from the authorisation requirement · retrieved 2026-09-24
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