Small Electronic Money Institution (SEMI) Registration (United Kingdom)
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.
At a glance
| Official name | Small Electronic Money Institution (SEMI) Registration1 |
|---|---|
| Also known as | SEMI · Small EMI · Small e-money institution registration · UK SEMI · FCA SEMI registration · UK small EMI registration |
| Market names to check | SEMI licence: A SEMI is a registration with the FCA under the Electronic Money Regulations 2011, not a full authorisation |
| Issued by | Financial Conduct Authority |
| Jurisdiction | United Kingdom |
| Licence family | Electronic money institution (EMI) |
| Legal basis | Electronic Money Regulations 2011 (SI 2011/99)2 |
| Passporting | Domestic only |
| Application fee | GBP 1,130 (Pricing Category 3)1 |
| Annual fee | GBP 1,418 extra fee for small electronic money institutions (Fee-block G.11)3 |
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
Buying a company that already holds it
Prior approval required. 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.4
Ready-made companies holding this licence: see verified positions.
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.
Laws behind it
- The Electronic Money Regulations 2011: S.I. 2011/99
Sources
- fca.org.uk: fees · retrieved 2026-09-24
- legislation.gov.uk: contents · retrieved 2026-09-24
- fca.org.uk: how we calculate annual fees · retrieved 2026-09-24
- fca.org.uk: control thresholds bands · retrieved 2026-09-24
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