What can you do with an Financial Institution license?
- Central contact point designated by an e-money institution or a payment service provider
- Management company
- Savings and loan association
- Provision of advice to clients
- Borrowing and lending operations
- Leasing transactions
- Money broking
- Guarantees and commitments
- Currency exchange
What are the general requirements?
- Minimum share capital: EUR 2.500
- The shareholders and members of the board must have an impeccable business reputation
- Permanent establishment in Estonia
- Compliance with the anti-money laundering and counter-terrorist financing law and regulations
- GDPR Compliance
What is the timeframe?
The decision on the application for a financial institution license is made in no more than 60 working days, that can be extended to up to 4 months. In our experience, the decision can be expected in 4/6 weeks.
