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EMI license in Portugal

Published:
September 13, 2023

Introduction

Portugal, known for its picturesque landscapes and rich cultural heritage, has also emerged as a hotspot for businesses, especially in the fintech sector. One key aspect that has contributed to this trend is the availability of EMI (Electronic Money Institution) licenses in the country. In this article, we will delve into the requirements, services, companies, advantages, procedures, taxation, and costs associated with obtaining an EMI license in Portugal without issues.

Portugal EMI License Requirements

Before embarking on the journey of establishing an Electronic Money License in Portugal, it is crucial to understand the necessary requirements. The Portuguese regulatory authorities, under the supervision of the Bank of Portugal, have set specific conditions for EMI license applicants. These typically include stringent financial stability, robust internal controls, and competent management teams. 

Advantages of EMI Licenses in Portugal

Portugal offers a favorable environment for E-Money license holders, making it an attractive destination for businesses in the fintech industry. Some of the advantages of obtaining an EMI license in Portugal include:

EU Access: Portugal is a member of the European Union (EU), which allows EMI license holders to conduct business across the EU member states without needing additional licenses.

Fintech Hub: Portugal has witnessed substantial growth in its fintech ecosystem, providing ample opportunities for EMI license holders to tap into a thriving market.

Stable Economy: Portugal boasts a stable economic environment, making it a secure location for financial institutions to operate, a bank account to own and secured capital to work with.

Strategic Location: Its strategic location in Europe bridges the gap between Europe, Africa, and the Americas, facilitating international business transactions.

Procedure for Obtaining an EMI License in Portugal

The process of obtaining an EMI license in Portugal involves several steps:

Preparation: Understand the regulatory requirements, assess your business model, and ensure your organization meets all prerequisites.

Application: Submit a comprehensive application to the Bank of Portugal, including detailed information about your business, capital, financial stability, and compliance measures.

Due Diligence: Undergo a thorough due diligence process conducted by the regulatory authorities.

Approval: Once your application is approved, you will be granted an E–Money license, allowing you to maintain a bank account and to make transactions and payments in Portugal and throughout the EU.

What is Included in Our Services

Navigating the intricacies of obtaining an EMI license in Portugal can be a daunting task. Our services include:

Consultation: Expert guidance to ensure your business model aligns with regulatory requirements.

Application Support: Assisting you in preparing and submitting a robust application to the Bank of Portugal.

Due Diligence Assistance: Helping you navigate the due diligence process without issues.

Compliance: Ongoing support to ensure your EMI remains compliant with evolving regulations.

Taxation of EMI Companies in Portugal

When considering the taxation law of EMI companies in Portugal, it becomes evident that the country’s competitive tax rates offer a significant advantage for license holders. Here, we delve deeper into the tax implications and advantages that EMI companies can enjoy in Portugal:

1. Competitive Corporate Tax Rate: Portugal’s corporate tax rate of 21% is notably lower than the average tax rates in many other European countries. This favorable rate can substantially reduce the tax burden on registered companies, leading to increased profitability.

2. Participation Exemption: Portugal also offers a participation exemption regime, which means that income derived from qualifying subsidiaries or investments may be exempt from taxation. This can be particularly advantageous for EMI companies with international transactions and sales.

3. Tax Treaties: Portugal has an extensive network of double taxation treaties with numerous countries. These treaties aim to prevent double taxation on income and provide tax relief or credits in cases of cross-border transactions and sales. EMI companies can benefit from reduced withholding tax rates on dividends, interest, and royalties when conducting business with treaty countries.

How Much Does an EMI License in Portugal Cost?

The price of obtaining an EMI license in Portugal can vary depending on various factors, including the complexity of your business model and the extent of assistance required. It is advisable to consult with experts who can provide a tailored price estimate based on your specific needs.

Our Advantages

Choosing the right partner for your EMI license journey is paramount. We offer several advantages to ensure a seamless and successful application process:

Expertise: Our team comprises experienced professionals well-versed in the intricacies of obtaining Electronic Money licenses in Portugal.

Regulatory Compliance: We stay updated with the latest law changes to ensure your EMI remains compliant at all times.

Efficiency: Our streamlined processes save you time and effort, allowing you to focus on growing your business.

In conclusion

Obtaining an EMI license in Portugal opens the door to a world of financial opportunities within the EU and beyond. With the right guidance and support, you can navigate the regulatory landscape and establish a successful  registered company  in this thriving fintech hub. Contact us today to embark on your journey towards financial innovation and success in Portugal.

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