A license for a Liechtenstein Electronic Money Institute (EMI) is issued by the Financial Market Authority under the Liechtenstein E-Money Act of 17 March 2011. It enables a licensee to issue a license to issue e-money in exchange for funds and use the e-money as an online payment mechanism.

Liechtenstein Electronic Money Institute (EMI) License


How can I get a Liechtenstein EMI License?

An application for a Liechtenstein Electronic Money Institute has to be made to the Financial Market Authority (FMA). The licenses for a Liechtenstein Electronic Money Institute (EMI) will be granted subject to the applicant fulfilling the requirements set by the FMA.

What are Liechtenstein EMI License Requirements?

An application for a Liechtenstein EMI License is a well drawn out process and it is highly recommended that you obtain the services of a Liechtenstein EMI attorney for the process. The process of application is designed to evaluate if you are competent to carry on the financial service business mentioned in your application based on your resources and can meet obligations.

The basic requirements which have to be fulfilled by an applicant are as follows:

  1. The applicant must establish the registered office and the head office of the institution in Liechtenstein
  2. The applicant must have well-defined practices for identification of customers, management of information, monitoring and reporting of risks and clear accounting and record-keeping practices
  3. Capital: An applicant must have a minimum initial capital of EUR 350,000. The company’s own funds must be at least 2% of the e-money under circulation
  4. The E-money institution must retain all records for 10 years
  5. The accounting has to be carried under strict regulations and the business activities must be audited by independent auditors recognized by the FMA
  6. The shareholders must fulfill the guidelines of EU Regulation No. 575/2013

The procedure for licensing has been specified as follows:

  1. Informal preliminary application: Prior to the actual submission of the application, a draft application may be submitted without original documents to evaluate the possibility of approval of the application. The key parameters which are evaluated in this process are the scope of the qualifying holdings, the source of funds, business plan, the structure of the group holding along with voting rights.
  2. Application: The application must be submitted with the following information:
  • Details of identification of the applicants
  • Business model and budget for the first three years
  • Information about the applicant’s financial structure
  • Information about corporate governance and internal practices of the applicant
  • Data security information
  • The identity of key persons and directors of the applicant
  • The identity of statutory auditors and audit firms

Liechtenstein EMI License Costs

The license fee for a Liechtenstein EMI License is CHF 30,000. Additional fees will be required to be paid for registration in the Commercial Register. A license is generally granted within 3 months of submission of a fully completed application.

Empire Global has a team of experienced professionals who will assist you through the entire process of Liechtenstein EMI License application including assistance in the preparation of documents, submission of application and responding to any queries from the FMA. We request you to get in touch with Empire Global at the earliest to understand the entire process in detail and apply for a Liechtenstein EMI License.

Liechtenstein EMI License