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An English-speaking, common-law EU base for e-money issuers that want one authorisation passported across the EU and EEA, with the owners assessed at a pre-application stage before the formal file.
Selected engagements from more than 250 licences obtained since 2013, for payment, e-money and cryptoasset firms.
Volkswagen
Payment InstitutionObtained Nexpay’s FCA Authorised Payment Institution licence.
Electronic Money InstitutionObtained Dzing Finance’s FCA Authorised Electronic Money Institution licence.
Obtained Orbital’s FCA Authorised Payment Institution licence.
Our realistic timeline from submission to decision.
Safeguarding, operating and settlement accounts opened alongside the application, so you trade on authorisation.
We assemble your team: independent directors and senior managers.
The licence, the requirements, the cost and the timing for your business.
You will need a board with enough independent directors, and senior managers in the key roles, each assessed by the Central Bank under its 2025 suitability rules.
One programme, from scoping to launch. Speak to an expert about this licence.
Requirements, capital, timing, fees and common questions, drawn from the regulator’s own publications.
A business issuing stored value to customers in Cyprus or, through passporting, anywhere in the EU and EEA needs authorisation from the Central Bank of Cyprus. Cyprus is a common-law, English-speaking EU jurisdiction with an established payments and investment firm sector, and since August 2026 its licensing process begins with a preliminary assessment of the owners and the project before the formal application. An EMI may provide every payment service in the Payment Services Law under the same authorisation.
| Requirement | Amount |
|---|---|
| Initial capital | €350,000 |
| Ongoing own funds | E-money calculation plus payment services calculation; never below €350,000 |
| E-money element | Set by Central Bank directive; the EU floor is 2% of average outstanding e-money |
| Unrelated payment services | Method A, B or C as the Central Bank directs |
The Electronic Money Laws permit a directive for issuers below an average outstanding limit, but the Central Bank publishes no small EMI regime; every issuer holds the full authorisation.
| Figure | Value | Source |
|---|---|---|
| Statutory decision period | 3 months from a complete application | Payment Services Law, section 12, applied to EMIs by section 4A of the Electronic Money Laws |
| Regulator’s published figure | Preliminary assessment within 30 working days of the Pre-Application Document, or 50 working days with an enhanced due diligence report, about 1.5 to 2.5 months, before the formal application | Central Bank of Cyprus, pre-application exploratory stage |
| Application preparation | 6 to 8 weeks | From instruction to submission, including banking in parallel |
| Our realistic timeline | 6 to 8 months after submission | Our own figure, from the regulator’s published data and our applications |
Regulator figures are quoted as published and converted to months. Our realistic timeline assumes a complete, well-prepared application.
| Item | Amount | Notes |
|---|---|---|
| Pre-application fee | €5,000 | Non-refundable; paid before the Pre-Application Document is submitted |
| Application fee | €10,000 | Receipt attached to the application |
| Enhanced due diligence report | At cost | Where the Central Bank commissions a third-party report on the beneficial owners |
| Annual supervisory fee | Not published | The law allows the Central Bank to charge its supervision expenses; no amount is published |
| Initial capital | €350,000 | Held before authorisation |
| Professional fees | Fixed | Quoted after scoping |
A Cyprus EMI passports throughout the EU and EEA under the right of establishment and the freedom to provide services, by branch, agent or distributor, with notifications under Delegated Regulation (EU) 2017/2055. The Central Bank publishes a register of authorised EMIs with their branches, agents, distributors and passported states.
The Central Bank of Cyprus publishes the errors it sees most often in applications, and in 2026 introduced the pre-application stage to settle questions of good repute before the formal file is submitted.
An EMI needs a safeguarding account, an operating account and settlement accounts in the currencies it serves. We open each alongside the application, so you trade from authorisation. See banking and payment processing.
Three months from a complete application by statute, after the pre-application stage of 30 or 50 working days. We plan for six to eight months after submission.
A mandatory first step since 3 August 2026: a €5,000 fee, a Pre-Application Document, a preliminary assessment by the Central Bank within 30 working days (50 with an enhanced due diligence report) and a meeting with the beneficial owners. It settles questions of good repute before the formal application.
€5,000 at pre-application and €10,000 on application, plus the cost of any due diligence report the Central Bank commissions. The Central Bank publishes no annual supervisory fee.
No. The law permits one by directive but the Central Bank publishes none; every issuer holds the full authorisation.
The company is incorporated in Cyprus with its registered and head office there and carries out at least part of its business in Cyprus. Every board member and key function holder is assessed for suitability, and the Central Bank looks for an adequate number of independent directors.
A regulatory advisory firm to payment, e-money and cryptoasset companies since 2013, with more than 250 licences obtained in more than 60 countries. The firm builds licensed payment, e-money, crypto and stablecoin businesses: the licence, the team, the technology, the bank accounts and card issuing.
This guide is general information, not legal advice. Requirements and fees change, and the regulator’s own publications take precedence.
The licence, your team, banking and technology, delivered as one programme.