You need a special document for conducting business with cryptocurrencies and electronic payment systems in general. Close European states neighbors adapted legislation to the rapidly changing IT market and created a special type of licensing – Electronic Money Institution. A special light version of SEMI (Small Electronic Money Institution) allows you to bear less responsibility to regulators. A ready SEMI license for sale is an opportunity to start a business in the shortest possible time, without spending time and effort on the initial organization, selection of a location, office re-establishment, etc. Eternity Law offers not only highly qualified professional assistance in the implementation of transactions for the purchase of a business, but also has a large list of such licenses in different jurisdictions, which is constantly updated with new profitable offers.
What rights does SEMI give a company?
Only a legal entity can obtain this license. With it, you get the right to create electronic payment systems, make transfers between users, exchange money, issue loans, etc.
What are the restrictions of the SEMI license?
All jurisdictions where you can get it are as similar as possible in terms of conditions. SEMI reduces the permissible turnover to 3 million euros per month and 36 million euros for 12 months. In addition, its owner will not be able to carry out lending and issue his own currency in volumes above the limit – 5 million euros.
SEMI gives all the possibilities for unlimited imagination in the implementation of payment IT projects.
What are licensee requests?
For getting SEMI license, you need the following.
- Establish a company in the selected country and open a bank account.
- Confirm your capital and deposit it in the required amount on the balance sheet.
- Provide notarized copies of the passport of the founder, shareholders, and senior employees. With proof of their absence of convictions and fines in the territory of jurisdiction and at home.
- Formulate the business mission of the company.
- Provide a business plan for three future years, considering all models for managing the company in these cases.
- Draw up a plan and programmatic evidence of compliance with the principles of AML, KYC and CTF; be ready to provide a report to regulators upon request.
Contact the specialists of Eternity Law, and we will conduct a preliminary audit of your project. Our experts will help you choose the most convenient jurisdiction for you and collect a complete package of documents for filing. If necessary, we can also provide you with full support and assist you until the immediate delivery of the finished license. In addition, we have many offers of ready SEMI licenses for sale, among which you can choose the most optimal option for you, and we will comprehensively advise you.