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The article explains the Registration process for companies in DIFC and ADGM in UAE. In the first part, the reader is introduced to the free zones and their benefits. For more detailed information on legal support, please visit Eternity Law. The United Arab Emirates offers two prominent financial free zones. Both DIFC and ADGM provide…
The United Arab Emirates has become a magnet for international businesses, startups, and economic institutions. Among the many incentives offered by the country, two free zones stand out for those in money, legal favors, fintech, and professional industries: Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM). The two countries offer favorable regulations,…
International commercial arbitration at the DIFC in UAE is a contemporary and efficacious modality for settling commercial contentions. It combines innovative legal practices with established international protocols. This discourse elucidates the infrastructural underpinnings and procedural methodologies of arbitration at the DIFC. For further insights, please visit Eternity Law. The DIFC’s juridical ecosystem in the UAE…
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A fully licensed Payment Service Provider (PSP) company in Mauritius is available for acquisition, offering a strong foundation for financial service expansion. Key Details of this Mauritius PSP Incorporation Date: December 2024 License Date: December 2024 License Scope: Authorized as a payment intermediary with services that include: Payment processing via credit cards, bank transfers, and…
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+1 (888) 647 05 40Latvia is in a leading position as one of the leading countries in attracting fintech companies. Unlike other lawfull ment, the Central Bank demonstrates its loyalty by regularly issuing licenses and offering various initiatives aimed at developing the FinTech sector. Following the UK’s exit from the EU, Latvia has become one of the best jurisdictions with the great number of FinTech licenses issued.SEMI – is a Latvia small electronic money issuer license, and such a financial business-company is created in order to provide all the needed banking operations on accounts. Based on the current situation in the world, such institutions are in great demand, as they greatly simplify the conduct of international activities for every modern businessman. Entrepreneurs might also take their look at the ready option of sale of small electronic money issuer license in Latvia.
You may offer payment services and certain other financial services with an e-money license, but you may not act as a bank or use the word “bank” in your name or marketing materials.
Institutions that work with virtual money and possesses small electronic money issuer license in Latvia can usually:
The option to get small electronic money issuer license in Latvia is very popular in Latvia. Despite the decrease in the total number of payments made, the cost of non-cash payments is generally increasing. The Financial and Capital Market Commission supervises all electronic market institutions licensed by the Small e-money license in Latvia, all of which are subject to the rules set out in the Law on Payment Services and Electronic Money. The EU e-money directive is also aligned with Latvian regulations governing electronic payment institutions (EMDs).
First of all, it is important to understand that this activity is carefully checked by the state. Therefore, in order to get small electronic money issuer license in Latvia , you will need a properly prepared set of documents that will fully comply with all the requirements of the jurisdiction. In addition, you need to enroll a company in the country.
Main demands, that you need to note and follow for getting small electronic money issuer license in Latvia:
In order to obtain an e-money license in Latvia, you need to go through several stages. The first step is to prepare for the application. At this stage, you should have a ready business plan, a description of the planned business, a description of the structure of the shareholders (participants) of the commercial company, confirmation of the initial capital, information about the members of the board and council. , important shareholders and the person who is directly responsible for the management of the institution’s activities, a description of the mechanisms of continuity of the institution’s commercial activity, PMK and other necessary documents in accordance with the Regulations of the KRFC No. 138.
The next step in the way to obtain small electronic money issuer license in Latvia is to submit all the necessary documents to the Financial and Capital Market Commission (FCMC). If there are gaps in the submitted documents, the Commission may ask the corporation to fill them in or provide additional information. If the application is completed, the FCMC sends a letter to the entrepreneur informing them that the review of the application for authorization has begun.
Within a month from the moment of receipt of the application, the KRFC begins its consideration. If the information in the application is not sufficient to resolve the issue of the permit, the term of consideration of the application may be extended. By the way, the ready variant of sale of small electronic money issuer license in Latvia is more efficient in terms of time-spending and expenses needed for starting business-activities.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.