How to create Institution Payments England (API) license I (minimum 20 GBP capital) London England quickly simply License Institution Payments England How to Create Institution Payments England London

As a financial entrepreneur, you have the possibility of creating your own Payment Institution (API) license I (minimum € 20 in capital) in London, England. Experience is required in the Finance industry.

Fidulink Agents offers several solutions, according to the needs of each of our clients.

In this article, you will discover our different formulas to obtain your payment institution license (API) license I (minimum € 20 in capital) in London, England.

What is a payment establishment license, license I (minimum € 20 in capital)?
Options to create your payment institution (API) license I (minimum € 20 in capital) in London, England
The LTD package in London, England incorporation by FIDULINK
The deadline for obtaining the license I (minimum € 20 in capital) as a payment institution (API) in London, England

What is a payment institution license (API) license I (minimum € 20 capital) in London, England?

A payment institution license I license (minimum € 20 capital) registered in London, England, means that a market participant is authorized by the Bank of England to issue electronic money and provide payment services which are indicated in the license. This means that the participant can make remittances, payment transactions, withdrawals or transfers, etc.

The provision of payment services with license I (minimum € 20 in capital) is an authorized activity in London, England. Therefore, persons who undertake economic, commercial, financial or professional activities in the form of a business without holding a license to exercise such activities may be subject to criminal proceedings.

There are several types of licenses, but another interesting key license may be the Institutional Electronic Money License in London, England.

Authorization of a payment institution in London, England to exercise restricted activities

New payment institution program in England

New Programs for new financial investors, creator of FINTECH in London, England.

The objective of this approval is to allow financial investors in London, England, to evolve as they develop. Obtaining a license I (with at least € 20 of share capital), allows you to engage in the creation of a payment institution (API), with restricted activities, to later access the institution license of electronic money and get activities with unlimited exercise caps. Facilitate access to this new English market in Vogue.

London, England, the place to BE

A license from a payment institution (API) is only valid in England. The LTD company registered in London, England, holder of this license, will have the right to provide restricted activities, only payment services specified in Article 5 of the Payments Act.

If you start with a Payment Institution (API) license I (with minimum € 20 capital) in England to achieve the EMI (Electronic Money Institution License) license:

Payment Institution License I (API) of not less than EUR 20 is issued when the payment institution intends to provide money transfer services only;
Bank of England

Find out more about the Payment Institution License (API) II (minimum € 50 in capital)
Find out more about the Payment Institution License (API) III (minimum € 125 in capital)
Find out more about the Electronic Money Institution License (minimum € 350 capital)

The minimum initial capital requirement of a license I payment institution

The initial capital of a payment institution must at all times be at least equal to the greater of the following amounts:

not less than 20 EUR when the payment institution intends to provide only money transfer services;

A payment institution cannot accept deposits from non-professional market players or issue electronic money. This means that he cannot withhold funds. The License I payment institution cannot offer an escrow account, as for the capital deposit.

Requirements for the protection of client funds

A payment institution that receives funds directly from customers must save them in one of the following ways:

by holding them in a separate account opened with a credit institution in the Republic of England (including a branch of a foreign credit institution established in the Republic of England), with a credit institution in another Member state, the Bank of England or a central bank of another member state, or invest these funds in safe and liquid low risk assets
by covering these funds with an insurance contract or by obtaining a guarantee or surety
A payment institution that holds an authorization for a payment institution providing only the account information service and / or a payment institution that holds an authorization to provide payment initiation services must hold professional liability insurance or other comparable liability coverage.
To provide Payment Services in the UK market, including payment accounts, payment processing, merchant acquisition and money transfer services.

In compliance with Article 2 (1) of the Payment Services Regulations, the one of the following persons when performing a payment service:

(a) an authorized payment institution;

(b) a small payment institution;

(b.ii) a registered account information service provider;

(c.ii) an account information service provider registered in the EEA,

(d) a credit institution;

(e) an issuer of electronic money;

(f) Limited Post;

g) the Bank of England, the European Central Bank and the national central banks of EEA States other than the United Kingdom, except when acting in their capacity as monetary authority or performing other functions of a nature public and;

(h) government departments and local authorities, except in the exercise of public functions.

Operational limits Payment institution (API)

The average amount of payment transactions executed during the last 12 months by a payment institution holding a restricted activity license, including the agents for which they assume full responsibility, must not exceed 3 EUR per month. Such a license is valid only within the Republic of England and permits the provision of the payment services specified in Section 5 (1) to (6) of the Republic of England Payments Act.

What are the advantages of a payment establishment license (API) (minimum € 20 in capital) in London, England?

There are some fundamental advantages to payment processors licensed in London, England:

Fifth economic power
Strong reputation for financial services
The English regulatory approach is much more flexible and business-oriented compared to other European jurisdictions.
Strong growth in fintech investments
The costs of maintaining and operating licensed financial institutions are significantly lower than in other European countries, mainly because it is not mandatory to hire all local staff and the regulator allows non-European residents to '' be the principal officers of an approved financial institution with a minimum of local resources. staff in London, England.
corporate tax relief of up to 230% on research and development
A KYC procedure possible remotely to get to know your customers better
access to a highly qualified workforce
Flexibility of launching the first year; No fine and regulatory penalties for the first year of operation.
Low corporate tax
Low commercial costs

How to obtain a license I (minimum € 20 in capital) as a payment institution in London, England?

During the application process, the applicant must demonstrate the following to the Bank of England:

The applicant has a high reputation and reputation in the financial community (Experience required)
Anyone who is or will be a shareholder / director / head of the institution must be of good reputation and possess the relevant qualifications
The applicant will have appropriate systems in place to manage the risks
Must be able to demonstrate through the business plan that you plan to provide financial services in a safe and sound manner
The applicant must take adequate measures to protect user funds (Fidulink can help you open a backup account to meet this requirement.)

How to create my payment institution (API) license I (minimum € 20 capital) in London, England

Create your payment institution (API) license I (minimum € 20 in capital) in London, England simply thanks to FIDULINK services

Drafting of deeds of incorporation of a LTD company in London, England by Agent Fidulink
Deposit of capital of 2500 Euros in an escrow account in London, England by Agent Fidulink
Registered office address registration in London, England by Agent Fidulink
Signature of the statutes at the notary in London, England | Notary fees by Fidulink Agent
Registration of the company with the register in London, England by Agent Fidulink
Opening bank account in London, England by Agent Fidulink
Preparation of the complete license file Payment Institution (API) license I (minimum € 20 in capital) in London, England (by the customer or by the Fidulink agent according to customer choice)
Preparation and Implementation of the Showcase Platform with Wallet and / or E-banking (by the customer or by the Fidulink agent according to customer choice)
Business Model preparation of your LTD company in London, England (by the customer or by the Fidulink agent according to customer choice)
Preparation of your 3-year Financial Plan for your LTD company in London, England (by the client or by the Fidulink agent according to client choice)
Application License Payment Institution (API) license I (minimum € 20 capital) in London, England by Fidulink agent

FIDULINK agents, offers you the possibility to benefit from all the services below thanks to a complete range for payment institutions in London, England.

All of our services are done by a lawyer. We carry out all the procedures with a POA (Power of Attorney), a power of attorney for each service that we establish for our clients.

Fidulink Services to fully assist you in the creation of your Payment Institution (API) license I (minimum € 20 in capital) in London, England

Basic package LTD company formation (limited liability) in London, England

Consultation on the registration of your LTD
Drafting Power of attorney “Power of Attorney”
Training and verification of the necessary package of documents
Preparation and completion of all the necessary documents for the incorporation of the new LTD company in London, England
Selection of economic activities according to the register
Registered address 1 year (legal address) in London, England
Registration with the registry in London, England
Government incorporation fees
Bank introduction assistance without travel to London in England
Electronic incorporation documents in London, England (pdf)
A dedicated agent for 1 year

Option I License application with AML web platform compliance set (Basic Pack + Premium Pack) in London, England

Verification of the complete file provided by the customer
Web Platform Audit
E-banking audit
Payment Institution (API) license I license application fee (minimum € 20 capital) in London, England
Procedure from 7 months to 1 years
Full relationship with the Bank of England
Full appointments and customer representation travel
Complete procedure until obtaining the license

Order Basic Pack including LTD company in London in England + Application License Payment Institution (API) license I (minimum € 20 capital) in London in England;

I order the Basic package

The documents to be submitted by the client to obtain the Payment Institution (API) license I (minimum € 20 capital) in London, England | Fidulink can prepare the complete documentation for you with the PREMIUM package.

Company documents
Criminal record Team, shareholder, director
Passport and proof of address of less than three months team, shareholder, director
CV team, shareholder, director
Application Assistant for the license application with complete drafting of the file in accordance with the application for a Payment Institution (API) license I license (minimum € 20 in capital) in London, England
Business Model Presentation of the activity in accordance with the request for a license I (minimum € 20 capital) from a payment institution (API) in London, England (brochure)
Financial plan over 3 years in accordance with your project and the request for a license I (minimum € 20 in capital) from a Payment Institution (API) in London, England
Complete documentation with technical sheets, presenting the operation of the platform
Complete and precise documentation presenting the AL / FT risks and how to control them
Operations program
a description of the organizational structure of your company
measures to protect your users' funds
process for classifying, monitoring, tracking and restricting access to sensitive payment data
Complete technical and administrative documentation
Compliance and governance arrangements and internal controls
business continuity measures
- internal control mechanisms to comply with money laundering and terrorist financing obligations (AML / KYC).
procedure for monitoring, processing and following up on security incidents and security-related customer complaints
the principles and definitions applicable to the collection of statistical data on performance, transaction and fraud
security policy

We can carry out all the documentation on request or by opting for the Premium Package in accordance with your project in accordance with the license application in England.

Order Premium Pack Including LTD company in London in England - Application License Payment Institution (API) license I (minimum € 20 capital) in London in England - Complete Documentation

I order the PREMIUM PACK

Deadline for obtaining the procedure for obtaining a Payment Institution License (API) license I (minimum € 20 in capital) in London, England

Obtaining Process Payment Institution London England

Newcomer stage (pre-application): pre-application meetings and consultations with experts from the Bank of England to determine if their future projects comply with legislative requirements, discussion of the submitted documents and their content.
Preparation of complete file obtaining License Payment Institution (API) license I (minimum € 20 in capital) in London, England (Timeframe 000 and a half months)
Submission of an application: Within 5 working days, the Bank of England verifies whether all necessary documents have been submitted and, when no formal deficiencies are identified, accepts the application for review.
Assessment of an application: Within 2-3 months from the date of receipt of the application, the Bank of England may request the applicant to submit additional information or documents. In this case, the evaluation period is extended.
Decision on the issuance of a license: After evaluating the submitted documents, the Bank of England makes a decision on the issuance of a license.
Delay observed following feedback of 3-5 months.

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