An electronic payment license in Gibraltar is used by companies that offer financial services and related products, but do not operate as a bank (and do not include the word “bank” in their name).
Our company formation agents in Gibraltar assist investors both with company incorporation matters and with licensing issues. We can help those interested apply for a license that allows them to engage in payment services.
The electronic payment license is only required for businesses engaging in certain types of activities. If you are unsure of the licensing requirements for your company, you can discuss specific aspects with one of our agents.
A company that will engage in the processing of payments, or in other words, a payment business. This means that the company will be able to accept funds and convert them into e-money, but it will not manage them. The electronic payment license holder would also be able to offer a number of other digital financial services, focused on facilitating electronic money transactions or transfers.
A cryptocurrency company will not fall under the scope of an e-money company that offers payment processing services and other financial solutions, nor will it need such a license to launch an ICO. The distributed ledger technology (DLT) license is needed by companies in this field, and it is applied for separately by the crypto company.
If you would like to know more about Gibraltar company formation, our team can walk you through the main steps.
The license for electronic money institutions, issued by the Gibraltar Financial Services Commission is the one that allows companies to engage in e-money activities. Gibraltar allows for two such licenses: the authorized e-money institution, and the registered e-money institution.
The company (in this case, named the e-money institution) can issue and redeem e-money and make electronic payments via an establishment, an agent or a distributor.
As for any type of license, companies applying for an e-money institution license will need to meet a set of criteria:
Companies that apply for this type of license will need to observe two types of financial obligations:
For more details about the electronic money institution license, used as an e electronic payment license in Gibraltar, please reach out to our team.
Our partner lawyers in Gibraltar can also answer your questions about the relevant acts and regulations that govern electronic money institutions.