Eternity Law International — News — SEMI license in Spain

SEMI license in Spain

Published:
February 6, 2024

Spain stands out as one of the most dynamic fintech ecosystems in Europe, with extensive experience in registering payment institutions and e-money institutions. The country provides tax breaks and other privileges, which makes it attractive to entrepreneurs compared to other jurisdictions. The Spanish market is developing rapidly in the payments sector, opening up significant opportunities.

Our company specializes in establishing and licensing commercial structures in various fields. We have the option of SEMI license in Spain for sale and offer extensive professional advice on issues related to SEMI licenses in Poland, Latvia, UK, Denmark and other countries.

Companies with SEMI license in Spain

According to European Central Bank data for 2019, Spain issued 50 payment institution licenses, leading in Europe and ahead of the UK regulator FCA by 2 licenses. In terms of electronic money licenses, Spain ranks fourth, ahead of the UK, Lithuania and Ireland. In 2020, the country holds fifth place for both types of licenses. According to Findexable’s Global Fintech Index 2020, Spain ranks 13th in global fintech innovation.

Entrepreneurs in this jurisdiction can benefit from favorable tax treatment for new companies and various tax incentives for research and development expenses.

The general corporate tax rate is 25% and applies to profits and capital growth of resident companies worldwide. New companies can benefit from a reduced tax rate of 15% in the first tax period if they have a positive tax base, and then meet certain requirements in the next period.

Primary requirements for small electronic money issuer license in Spain

  1. Requirements for personnel and office for SEMI license in Spain. It is necessary that the director or other authorized representative of the company is a resident of Spain. There is no set number of local employees for the remaining staff.
  2. Initial capital requirements for those intending to get SEMI license in Spain. The initial capital varies from 25 thousand to 125 thousand euros for a payment institution, depending on the type of payment service provided. To establish electronic money, an initial capital of 350 thousand euros is required. Electronic money issuers and payment institutions with low turnover (small licenses) are exempt from the obligation to comply with initial capital requirements.
  3. Storing client funds. Companies have the opportunity to open accounts for storing client funds both in Spanish banks and in banks registered in the European Union.

We provide highly qualified assistance in preparing for licensing, in particular, obtaining a SEMI license in Lithuania, Belgium, Portugal and other countries. Our company also has the service as sale of small electronic money issuer license in Spain.

Benefits of applying for small electronic money issuer license in Spain

  1. Free registration. In the jurisdiction, you do not pay for the creation of SEMI, unlike some other states.
  2. Easy application. The form has all the recommendations of regulators, so it can be easily filled out. Applications may be submitted online or by mail.
  3. The review process for your application will take only 20 days if all required documentation is completed correctly.

Regulatory authorities

These are the main authorities responsible for control in the field of banking and financial activities in Spain.

  1. Central Bank of Spain, as the central national bank, in cooperation with the European Central Bank, supervises the country’s banking system.
  2. The Spanish Securities Market Commission regulates and supervises the securities markets in Spain, as well as the activities of all participants in this market.
  3. The Executive Service of the Bank of Spain Commission for the Prevention of Money Laundering and Currency Abuses is responsible for the prevention of money laundering and currency irregularities.

Documents required to obtain SEMI license in Spain

  1. Official company details, including office address.
  2. To get small electronic money issuer license in Spain you need detailed description of the services provided.
  3. Developed business plan with marketing strategy.
  4. Organizational structure overview.
  5. Confirmation of availability of funds for initial capital.
  6. Methods for ensuring the safety of client funds.
  7. Management processes, internal control, risk management and accounting.
  8. Security systems.
  9. Procedures for processing confidential information.
  10. Mechanisms to ensure the continuity of the company’s work.
  11. To get SEMI license in Spain you need detailed overview of the principles and definitions for collecting performance, transaction and fraud prevention statistics.
  12. Security policy with detailed risk assessment.
  13. Full details of procedures, internal controls to prevent money laundering and terrorist financing.
  14. Official documents confirming the company’s signature authority.
  15. Approved documents confirming the compliance of management personnel and directors.
  16. Details about the auditor.
  17. Information about customer service procedures and responsible persons/organizations.
  18. Liability insurance or similar form of insurance.

If you turned to the option of ready-made SEMI license in Spain for sale you can avoid all the documentation preparation phases.

Navigating the SEMI license process in Spain: detailed guide

A guide to the process of the option to get small electronic money issuer license in Spain includes a number of important steps, each of which requires careful attention to detail:

  • the first step is to establish a registered company in Spain, which must comply with regulatory requirements and also provide the necessary level of capital;
  • Next, you must submit a properly completed application, including a detailed business plan, a description of anti-money laundering procedures and strategies for compliance with relevant financial laws and regulations. The application is submitted to the regulatory authority;
  • regulators conduct thorough checks of your company, directors and shareholders to ensure the financial stability and impeccable reputation of all involved;
  • it is important to emphasize compliance with all requirements throughout the application process and after approval. Failure to comply with the established rules may lead to refusal to issue a license or its revocation;
  • once your application is approved, you receive a SEMI license. Now your company has the right to legally operate in Spain and throughout the EU.

Interested capital-holders may also turn to the option of Spain SEMI licensed company for sale. It’s completely ready-to-use structure.

Comprehensive support in getting ready-made Spain SEMI licensed company

Given the complexity of this process, it is highly recommended that you seek our professional support.

  1. Our team of experts provides detailed advice on the requirements and procedures for obtaining a SEMI license in Spain.
  2. We provide comprehensive support in preparing and submitting your license application. Our goal is to ensure that all necessary documents and information are available in perfect order.
  3. Compliance with regulatory parameters is an ongoing commitment. We provide ongoing assistance, ensuring long-term performance and maintaining customer trust.

If you are interested in developing a business in this direction, consider offers of ready-made SEMI licenses for sale. We will provide you with full support.

Businesses for sale

SEMI license in the UK for sale

Europe, UK EMI License
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 in the Czech Republic for sale

Europe, Czech Republic EMI License
SEMI in the Czech Republic obtained in 2017 Description SEMI license in the Czech Republic:  the share capital is 170,000 EUR;  corporate, safeguarding and payment account in Lithuania;  Internet acquiring solution;  solution for issuing direct IBAN accounts for clients – SEPA / SWIFT payments; payment software + software for acquiring; further service of the AML...

Semi license with soft and bank accounts in UK for sale

Europe, UK EMI License
For sale SEMI license in UK – whats included: Company with SEMI license in UK for sale was incorporated in 2019 Segregated client accounts: • Safeguarding: Industra Bank (LV – EUR, USD, Other); • Segregated: Industra Bank (LV– EUR, USD, Other), ClearJunction (UK – EUR), IFX (UK – all currencies), WesternUnion (UK – all currencies); Own...

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