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Groups serving both the UK and the EU most often pair an FCA authorisation with an Irish EMI, for an English-speaking, common-law base and a regulator that publishes its expectations in detail.
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: an independent director and Irish compliance and risk heads.
The licence, the requirements, the cost and the timing for your business.
You will need senior managers approved by the Central Bank, at least one independent non-executive director, and compliance and risk heads working in Ireland.
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 that issues stored value to customers in Ireland or, through passporting, anywhere in the EU and EEA, needs authorisation under the Irish electronic money regulations. Ireland is the EU licence most often paired with a UK FCA authorisation by groups serving both markets: English-speaking, common-law, with a regulator that publishes its expectations in detail. An EMI may provide every payment service under the same authorisation.
| Requirement | Amount |
|---|---|
| Initial capital | €350,000 |
| Ongoing own funds (Method D) | At least 2% of average outstanding e-money |
| Unrelated payment services | Method A, B or C as the Central Bank directs |
| Small EMI | €125,000 under the Central Bank’s guidance; average outstanding e-money not above €1 million |
The Central Bank may require up to 20% more, or permit 20% less, than the method produces.
| Figure | Value | Source |
|---|---|---|
| Statutory decision period | 3 months from a complete application | Electronic Money Regulations 2011, regulation 12 |
| Regulator’s published figure | 90% of assessments within 90 business days, about 4 months, with the clock stopped during information requests | Central Bank of Ireland authorisation service standards |
| 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 |
|---|---|---|
| Application fee | None | No fee or deposit |
| Annual industry funding levy | From €5,000 | Category N: minimum €5,000 plus a variable element by share of sector transaction value; a further €375,000 flat fee applies to firms rated ultra-high for money-laundering risk |
| Initial capital | €350,000 | Held before authorisation |
| Professional fees | Fixed | Quoted after scoping |
A firm whose average outstanding e-money stays below €1 million and whose monthly payment transactions stay below €3 million may register as a small EMI. The registration is valid in Ireland only: no issuance in other Member States and no payment initiation or account information services. Capital under the Central Bank’s guidance is €125,000.
An Irish EMI passports throughout the EU and EEA by branch, agent or distributor, or on a cross-border services basis. Notifications are submitted after authorisation and forwarded by the Central Bank within one month. The authorisation covers e-money issuance and every payment service.
The Central Bank publishes the reasons applications take longer than they should.
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. The Central Bank’s service standard is 90% of assessments within 90 business days, about four months; we plan for six to eight months after submission.
No. The cost is the annual industry funding levy, from €5,000, and the capital.
Board and committee decisions taken in Ireland; financial control, legal, compliance and risk based in Ireland; a significant senior management presence; and at least one independent non-executive director.
Not under the Irish licence. Groups serving both markets hold an FCA authorisation and an Irish authorisation; we obtain both.
A Central Bank questionnaire on the applicant’s money-laundering and terrorist-financing risk, which feeds the levy category and the supervisory approach.
Yes, with the Central Bank’s approval of the acquiring controller. Our marketplace lists authorised companies, and we run the change of control.
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.