Fintech Licenses
License
for Fintech
The European Union traditionally imposes high regulatory and risk management requirements on payment institutions, virtual currency exchanges, investment funds, forex brokers, banks, credit institutions, insurance companies and other financial institutions. Licensing a financial company in the European Union will provide a significant competitive advantage and open access to the entire European market.
Gofaizen & Sherle provides a gateway to the European market for the companies operating in the financial field. Our lawyers and consultants work directly (without intermediaries) with regulators from different EU member states (Central Banks, Financial Supervisory Authorities, etc.), which allows us to provide appropriate support in obtaining a license with lower founding and operating costs.
We offer licensing solutions in various jurisdictions of the European Union, such as Estonia, Ireland, Liechtenstein, Germany, Malta, Cyprus, Lithuania, Czech Republic, etc. Upon the company registration process and license acquisition completed, Gofaizen & Sherle provides full follow-up support: license renewal (if applicable), compliance support services, support in risk assessment, legal services, workshops and seminars within organizations, legal opinions, advice on general data protection provisions (DPO and GDPR).
Virtual Currency and Blockchain
Advising Clients wishing to engage in exchange, trading and investments in virtual values, including the formation of licensed virtual currency exchanges in Estonia, Germany, Gibraltar, Malta, Ireland and other virtual currency-friendly jurisdictions. Advising Clients wishing to run Virtual currency Fund (Alternative Investment Fund) including the formation of fund managing company and set up AIF. Advising Clients on Initial Coin Offering (ICO) or token issuance and guiding through this complex process end-to-end – Project research, Token solution consulting, recommendations on the choice of jurisdictions, roadmap development, legal supporting documents preparation (Token Purchase Agreement, Terms of Use, Privacy Policy etc.)
E-Money or Payment Institutions
Advising Clients and providing assistance in the acquisition of the licenses of SPI (Small-Scale Payment Institution), PSP (Payment Service Provider) or EMI (Electronic Money Institution) in the European Union. Electronic Money Institution license is an optimal solution for FinTech companies, as well as financial service providers and startups for providing such services as money remittance, payment orders, account information, emission of electronic money and exchange of emitted electronic money for fiat currency, allowing users to place and withdraw cash on a current account, assign existing payment bank cards to Client sub-accounts and issue cards of major vendors (VISA, MC).
Small Alternative Investment Fund
Advising Clients and providing assistance in the acquisition of the license of Small Alternative Investment Fund (AIF). Registration of AIF in the European Union allows capital management up to 500 million EUR with the ability to attract deposits from retail and professional investors. AIF can manage a portfolio of virtual currency, real estate, bonds, stocks, derivatives and other alternative types of investments. Depending on jurisdiction on average it takes only up to 2-3 months to set up full infrastructure (the management company, an alternative fund; obtain an operating license) with relatively low costs. An additional advantage – data anonymity of fund investors (list of investors is not public and stored within the fund manager).
Small Scale Financial Institution
Advising Clients and providing assistance in the acquisition of small-scale financial institution license for such operating activities as investment consulting, mediation in financial deals (factoring, leasing), issuance loans (B2B only), wholesale of precious metals, foreign currency exchange. Small scale financial institution license regulates side activities that fall under simplified regulation in comparison to large-scale financial institutions (such as Insurance companies, Investment funds, Credit Institutions, Payment Service Providers, etc.)
We are working directly with the following regulators
FSA
Financial Supervisory Authority of Estonia
FIU
Estonian Financial Intelligence Unit
CNB
Czech National Bank
LCB
Lithuanian Central Bank
BaFin
Federal Financial Supervisory Authority of Germany
CBI
Central Bank of Ireland
FCIS
Financial Crime Investigation Service
GFSC
Gibraltar Financial Services Commission
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