EMI express – A EU EMI in France in 4 to 6 months.

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Investing in the EMI business has posed a challenge for many due to the limited options available. Previously, potential investors could either create a new EMI business, which took 12 to 18 months on average in most EU countries or purchase an existing license at high prices.

However, we are pleased to announce that we can now offer EMI licenses in France in just 4 to 6 months. For further information, please don’t hesitate to contact us at connect@swissfintechpro.com

Our Scope of Services

We shall assist you with the preparation and the filling of an application for an Electronic Money Institution (EMI) license with the Autorité de Contrôle Prudentiel et de Resolution (ACPR) in order to operate in France.

We shall provide all the deliverable documents including

A business plan outlining the objectives of the institution, the services it will offer, and the strategies it will use to achieve its goals.
An Anti-Money Laundering (AML) Manual which outlines the procedures, processes, and controls the institution will use to comply with AML regulations.
A Risk Management Manual which outlines the institution’s risk management framework, including its risk appetite, risk assessment and monitoring processes.
An Information Security Manual which outlines the institution’s security policies and procedures.
A Governance Manual which outlines the institution’s corporate governance framework, including its internal control and audit processes.
A Financial Plan which outlines the institution’s financial objectives and strategies.
A Business Continuity Plan which outlines the institution’s plans for responding to and recovering from unexpected events.
A Customer Service Manual which outlines the institution’s customer service policies and procedures.
A Legal Opinion from a qualified lawyer outlining the institution’s legal status and the regulatory framework it will operate within.
A copy of the institution’s Articles of Association.
A copy of the institution’s Certificate of Incorporation.
A copy of the institution’s Bank Account Agreement.
A copy of the institution’s Payment Services Agreement.
A copy of the institution’s Data Protection Policy.
A copy of the institution’s Privacy Policy.

Other Requirements

Capital Requirements: An EMI must have a minimum capital of €350,000 and must be held in the form of cash or liquid assets.

Fit and Proper Test: All directors, shareholders, and senior management of an EMI must pass a fit and proper test conducted by the ACPR. At minima we need 2 directors with master’s degree in finance and experience in the financial service business.

Compliance: An EMI must comply with all applicable French laws and regulations, including those related to customer protection, anti-money laundering, and counter-terrorist financing.

Reporting Requirements: An EMI must submit periodic reports to the ACPR, including financial statements and reports on its activities.

Services that can be licensed

	1) services enabling cash to be placed on a payment account as well as all the operations required for operating a payment account;
	2) services enabling cash withdrawals from a payment account as well as all the operations required for operating a payment account;
	3) execution of payment transactions, including transfers of funds on a payment account with the payment service provider of the payment service user or with another payment service provider: execution of direct debits, including one- off direct debits, execution of payment transactions through a payment card or a similar device and/or execution of credit transfers, including standing orders;
	4) execution of payment transactions where the funds are covered by a credit line for a payment service user: execution of direct debits, including one-off direct debits, execution of payment transactions through a payment card or a similar device and/or execution of credit transfers, including standing orders;
	5) issuing and/or acquiring of payment instruments;
	6) money transfers;
	7) execution of payment transactions where the consent of the payer to execute a payment transaction is given by means of any telecommunications terminal equipment, digital or IT device and the payment is made to the telecommunications network or IT system operator, acting only as an intermediary between the supplier of the goods or services and the payment service user.
	8) Issuing Electronic Money
Money Exchange	Money exchanged forex is included when for money remittance (for example client give Euros and want to transfer in USD)
Holding Client Funds	It can hold client funds
Passporting	Yes, can be passported in all EU
Monthly transaction limits	None

For further information, please don’t hesitate to contact us at connect@swissfintechpro.com