How to obtain a Georgia Electronic Money Institution License
A Georgia Electronic Money Institution License will enable you to provide electronic payment services online or through a mobile device. The Licenses are issued by the National Bank of Georgia under the provisions of the Law of Georgia on Payment Systems and Payment Services.
The company applying for a Georgia EMI license has to be registered in the country and can be either a Limited Company or a Joint Stock Company
The next step is the preparation of documents such as Operating Manuals, Anti Money Laundering, and Anti Terrorist Financing guidelines, Business plans, and any other documents sought by the National Bank of Georgia. It is recommended that these documents are prepared in consultation with a Georgia Electronic Money Institute Consultant.
The entire process of obtaining a Georgia EMI License takes about 2-3 months after the submission of the completed application and during this time, there may be queried from the National Bank of Georgia which are required to be answered. After obtaining the Georgia EMI License, the Licensee will need to make regular submissions of accounts and records to the NBG.
To commence your business, in addition to the Georgia EMI License, you will require bank accounts and the services of auditors, company secretaries or other service providers which may be arranged by Empire Global if required. If you are interested in learning more about a Georgia Electronic Money Institution License and how it can help your business, complete the form here and our dedicated team of experienced professionals will assist you through the entire process of obtaining a Georgia Electronic Money Institution License.