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Payment institutions with genuine operations in Estonia choose it for portal-only filing, a statutory decision deadline and exemptions that let low-volume firms start without the full licence.
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: directors and an internal auditor.
The licence, the requirements, the cost and the timing for your business.
You will need board directors whose education, experience and reliability the regulator checks, and an internal auditor named in the application.
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 providing a payment service in Estonia or, through passporting, in the EU and EEA needs an operating licence from the Finantsinspektsioon. A business that will also hold customer balances applies for an EMI licence instead.
| Requirement | Amount |
|---|---|
| Account, card and other services (1–5) | €125,000 |
| Payment initiation only | €50,000 |
| Money remittance only | €20,000 |
| Exempt institutions | Thresholds below |
Own funds are maintained at or above the initial capital at all times.
| Figure | Value | Source |
|---|---|---|
| Statutory decision period | 3 months from complete documents; no later than 6 months from the application | Payment Institutions and E-money Institutions Act |
| Application preparation | 6 to 8 weeks | From instruction to submission, including banking in parallel |
| Our realistic timeline | 4 to 6 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 |
|---|---|---|
| Annual supervisory fee | Capital part plus volume part | Volume part on payment transaction volume, set annually; 0.5% of operating income for exempt and account-information-only providers |
| Initial capital | €20,000 to €125,000 | By the highest service |
| Professional fees | Fixed | Quoted after scoping |
A remittance-only firm below €1 million a month, or a firm providing account and card services below €3 million a month with less than half its income from payment transactions, may operate under an exemption. Account-information-only providers are exempt from the capital, safeguarding and prudential chapters. Exempt institutions may not open branches or passport.
An Estonian payment institution holding the full licence passports throughout the EU and EEA; exempt institutions may not.
The Finantsinspektsioon publishes the statutory grounds for refusal rather than a list of delays: non-compliance with the act, capital that is not paid up, insufficient resources or experience, own funds below the minimum, unfit managers or owners, close links that impede supervision, an intention to operate mainly elsewhere, imprecise internal rules and criminal convictions. Its 2025 yearbook flags liability insurance sized incorrectly as a recurring finding.
A payment institution 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 complete documents and no later than six months from application. We plan for four to six months after submission.
The regulator publishes no application fee for payment institutions; the annual supervisory fee applies from the first year.
Yes, founded in Estonia with its head office there, and with real operations in Estonia rather than mainly elsewhere.
Remittance only below €1 million a month; other services below €3 million a month with less than half of income from payment transactions; account information only.
No. Only full licence holders passport.
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.