Eternity Law International — News — SEMI license in Portugal

SEMI license in Portugal

Published:
February 6, 2024

The investment industry is constantly evolving with the growth of cryptocurrencies and online payment systems. In this era of financial innovation, SEMI licenses are becoming the primary way to store and exchange alternative electronic money. With an excellent regulatory framework, Portugal stands out as a favorable location for companies looking to obtain a SEMI license in the country and take advantage of opportunities in the growing digital asset industry.

Our company is ready to become your reliable ally on the path of your commercial development. We will provide you with SEMI license in Portugal for sale, as well as comprehensive advice on any issues regarding SEMI licenses in the Czech Republic, Poland, Latvia and other countries.

Advantages of a SEMI license in Portugal

Firms that are so licensed in a given jurisdiction receive the same rights as payment institutions, as well as additional capabilities. Companies with a SEMI license can manage client funds for a long time and create payment instruments with the ability to store client funds. This provides convenience for customers when carrying out payment transactions, such as paying for goods and services.

An e-money organization holding small electronic money issuer license in Portugal transacts using virtual currency issued by the issuer itself in exchange for customer cash. They have the ability to make payments to other clients of the issuer who are ready to accept electronic money, with the obligation to redeem electronic money from the holder upon his request. Digital funds can exist both on physical media, such as smart cards, and in virtual form, located on the payment system server.

How to get SEMI license in Portugal

The process of issue to obtain SEMI license in Portugal is regulated by the relevant EU Directive, which sets standards for the activities of companies. The main regulator is the Bank of Portugal. A business wishing to get small electronic money issuer license in Portugal must meet the following requirements:

  • registration of a company in the state;
  • presence of a local office;
  • qualifications and experience of the relevant management – members of management and control bodies must have high qualifications, experience and good business reputation;
  • confirmation of the immaculate business reputation and source of income of the founders;
  • development of internal control mechanisms, risk management, anti-money laundering and countering the financing of terrorism, as well as other policies and procedures;
  • payment of the authorized capital in an amount not less than the established minimum.

To obtain SEMI license in Portugal you must also provide constituent documents, a business plan, financial forecast, and a description of the organizational structure.

We will accompany you every step of the way. Our company is also ready to offer you the option of sale of small electronic money issuer license in Portugal. We have options for ready-made SEMI licenses with a bank account in the UK, Denmark, Lithuania and other countries.

Get SEMI license in Portugal: licensing process

  1. Submitting an application for authorization, including providing a package of documents such as a business plan for a three-year period and other necessary documents.
  2. Review of the application, during which the regulator conducts a full check of the applicant, with a possible request for additional documents.
  3. Making a decision to grant a license or refuse authorization.
  4. Preliminary compliance check carried out after the permit is issued, including an inspection of the company’s office.
  5. Obtaining a license.

Process for obtaining a SEMI license in Portugal

Let’s look at all the steps in the process of getting SEMI license in Portugal.

  1. Submitting an application: The applicant submits the necessary documents, including a detailed business plan for a three-year period, to the Bank of Portugal.
  2. Application review: The regulator conducts a thorough assessment of the applicant’s competencies and may request additional documents at this stage.
  3. Making a decision on issuing a license: based on the assessment, the BP makes a decision on issuing a license or refusing to issue it.
  4. Preliminary Compliance check: After obtaining a license, the regulator inspects the firm’s office to ensure compliance with the established requirements.
  5. Issuance of work permit: When all checks are passed, the enterprise is granted a SEMI license.

Get small electronic money issuer license in Portugal: our professional support

To effectively navigate the licensing process and increase your chances of successful completion, it is recommended that you take advantage of our expert support.

  1. Extensive experience and high professionalism: the company offers its clients a wealth of experience and a high level of qualifications. This includes a thorough understanding of the licensing process, the specific requirements of Banco de Portugal and other regulatory aspects.
  2. Individual approach to clients: the company is aimed at providing clients with unique solutions, taking into account the characteristics and individual needs of each. A personal approach covers the analysis of the client’s business model, the formation of personalized strategies and support at all stages of licensing.
  3. Wide range of services: we provide a comprehensive service covering all stages of obtaining a permit. This includes preparing the necessary documents, developing business plans, advising on regulatory compliance and assisting the client at all stages. We also offer Portugal SEMI licensed company for sale as a ready option.
  4. Effective interaction with the regulator: the company ensures effective interaction with the BP in the process of obtaining a SEMI license. This includes representing the client’s interests, promptly responding to regulatory requests and complying with all necessary regulations.
  5. Constantly updating knowledge and tracking trends: our lawyers regularly monitor changes in legislation and requirements in the field of financial regulation. This provides clients with up-to-date information, prompt response to changes in legislation and business compliance with all current requirements.
  6. Excellent knowledge of the financial market. This not only provides clients with a ready-made Portugal SEMI licensed company, but also provides valuable strategic advice based on a thorough analysis of the current financial environment.

By collaborating with our company, you not only receive a ready-made SEMI license in Portugal for sale, but also a reliable partner with experience, deep understanding of the financial market and expertise in the field of technology. We guarantee a personalized approach, proactive compliance and comprehensive support at all stages of your successful interaction with the financial regulator.

We provide comprehensive assistance in preparing and submitting the necessary documents. Our clients can count on competitive offers for SEMI licenses for sale in the UK, Latvia, Poland and other countries, as well as our full support and guidance throughout the approval process.

Businesses for sale

SEMI license in the UK for sale

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SEMI license in the UK with bank accounts for sale SEMI license in the UK incorporated in 2019. The company is not yet operating. License applied 2020 it is in process, expect approval from FCA within a few weeks. The office located in London. What is included in the price? 1 Safeguarding Bank account; 2...

SEMI licenses in the Czech Republic

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Use and conditions for obtaining a SEMI license in the Czech Republic The Czech Republic positions itself as a country capable of providing a wide range of conditions for those who want to open their company in Europe. It is also popular for issuing permits for the transfer of electronic money. There are two types...

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Below you can see the basic information regarding the SEMI company with bank accounts for sale SEMI licensed company – whats included: Year of company: 2019; SEMI license obtained in 2019; Opened bank accounts in LPB Bank Latvia and Clear Bank; Authorized activities: issuance of electronic money; placing cash to a payment account; withdrawing cash...

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