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Registration and obtaining Electronic Money Institution - EMI licenses in the Czech Republic

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In the case you plan to run a business of providing payment services, electronic wallets and to issue electronic money, you will need an Electronic Money Institution - EMI license.

The Czech Electronic Money Institution (EMI) license is a European license and gives you the right to work throughout the European Union and in no way restricts attracting customers from all over the world. And your employees can be where you decide.

In the Czech Republic, we provide a full service for obtaining the Electronic Money Institution – EMI license.

The Czech Republic regulates the activities of persons authorized to provide payment services and issue electronic money, according to the Act number 284/2009 Sb. and directive number 141/2011 Sb. Czech legislation and regulations regarding Electronic Money Institutions (EMI) fully comply with all EU directives.

Below are answers to the main questions on registration and licensing in the Czech Republic license Electronic Money Institution (EMI).


Electronic Money Institution License is the most complete license of all types of payment system licenses.

The license of the E-Money Institution - EMI or the Electronic Money Issuer includes all the capabilities of the Payment Institution. The main difference between the two types of payment service providers is that electronic institutions can issue electronic money. Electronic money is the digital equivalent of cash stored on an electronic device or remotely on a server.

Unlike the Payment Institution, the Electronic Money Institution (EMI), issuing electronic money in exchange for money, provides financial services that are unlimited in time, without known payment directions, with the possibility of crushing and accumulating funds. The issuer undertakes the obligation to pay money in exchange for electronic money at any time. More opportunities are provided only by a banking license. Simply put, the EMI license is a license for E-Wallet and gives the right to provide the full range of services, which are implied by the term E-Wallet.

It can also be said that the Electronic Money Institution (EMI) is practically a bank, but without the right to provide bank lending services. At the same time, the cost of creating and owning a payment company is orders of magnitude less than a full-fledged bank!


The Electronic Money Institution or in other words, the Issuer of electronic money can provide a full range of services that the Payment Institution can provide, plus the following:

  • issue electronic money,
  • provide payment services related to electronic money,
  • provide non-electronic payment services specified in the authorization of the electronic money institution;


The Czech National Bank (CNB) may grant permission to operate an electronic money institution to a Czech legal entity. However, the founders and directors of a Czech legal entity may be individuals and legal entities that are residents of any other country.

When applying to the CNB for an Electronic Money Institution (EMI) license the applicant must:

  • be a legal entity,
  • have a head office in the Czech Republic,
  • have an initial capital of at least 350,000 EUR,
  • have a business plan and a financial plan for the first 3 reporting periods, which are based on realistic economic calculations,
  • have a sufficient material, technical, personnel and organizational base of suitable prudent e-money issuance and payment services,
  • have a management system that meets the requirements established by law,
  • provide the protection of funds received from the issuance of electronic money or that were entrusted to it by users for payment transactions,
  • any other business of the applicant, other than issuing electronic money and providing payment services, should not represent a significant threat to financial stability and cannot impede the effective supervision of the electronic money institution’s activities,
  • in which only persons who are credible and capable of ensuring the proper and reasonable management of the electronic money institution manage the management,
  • close ties with others should not impede the effective supervision of an electronic money institution,
  • The director must effectively manage electronic money and payment services, be professionally competent and have sufficient experience in terms of the proper and reasonable issuance of electronic money and the provision of payment services.


  • The business plan provided by the customer is an integral part of the set of documents that are submitted to the Czech National Bank (CNB). By and large, the success or non-success of licensing application depends on the business plan.
  • The CNB focuses with particular attention on firms whose founders and directors are persons from CIS countries. And in this case, the degree of elaboration of the business plan becomes even more significant.
  • Please note that the Electronic Money Institution (EMI) license issued by the CNB grants the right to provide services throughout the European Union. Of course, this does not limit you in attracting customers from other countries. However, the license itself assumes that the activity will be conducted in the EU. Therefore, the business plan should mainly be focused on attracting customers from the EU and the Czech Republic. A business plan and a financial plan must be made for a period of at least 3 years.
  • For our part, to facilitate the preparation of a business plan by our clients, we have prepared business plan and financial plan templates, which we transfer to clients after signing an agreement with us. Also, after the transfer of the business plan and financial plan to us, we will make a thorough analysis and give specific recommendations for finalizing the plans based on our experience with the CNB on this issue.
  • We offer our services in creating a business plan and a financial plan, but this service is not part of this price offer and is negotiated separately.
  • The cost of translating a business plan and a financial plan into Czech is not included in the cost of our services and is paid separately, since at this stage we do not know the volume of these documents.


  1. Application for authorization of an electronic money institution.
  2. A document on the authorization of commercial activities.
  3. Proof of the origin of funds to be contributed as share capital.
  4. Questionnaire for each manager, with information about work experience and education.
  5. Extract from the penalty registrar in the Czech Republic to the founders and directors.
  6. Extract from the penalty registrar from the countries of residence of the founders and the director.
  7. Business plan for 3 years.
  8. Financial plan for 3 years.
  9. Description of the management and control system (proposal of the organizational structure, risk management principles and requirements related to the AML warning).
  10. Description of methods of protection of funds trusted for payment transactions.
  11. Description of how to implement various services.
  12. Description of staffing, organizational and technical support for certain types of activities.
  13. Description of the types, volumes and methods of performing other economic activities, if the electronic money institution performs other activities than the activity for which a license is required in accordance with the law.
  14. A description of the method that an electronic money institution will use when calculating capital adequacy.
  15. Share capital of at least 350,000 euros.


  • Passport.
  • Address Verification. For example, a utility bill. - Requires a certified translation.
  • Certified copy of birth certificate.
  • Extract from the penalty registrar from the country of citizenship.
  • Police Clearance from the Czech Republic - we do.
  • Proof of the origin of the funds to be contributed as a share capital. It may just be an income certificate.


  • company registration,
  • preparation of statutory documents and regulations in accordance with Czech legislation and bank requirements,
  • full support of the translator in the process of licensing,
  • full legal service during the process of licensing,
  • filling all documents and applications for licensing application,
  • representation of the company on the basis of a power of attorney in the Czech National Bank (all communication in the process of licensing),
  • providing templates for preparing a business plan and financial plan,
  • adjustment of the business plan and financial plan provided by the customer.

The list of services for registration of the payment system does NOT include the following:

- Development of documentation for customers of the payment system.

- Development of a business plan and development of a financial plan.

- Opening accounts in the acquiring banks of the system with which the system will work.

- Opening an office.

We provide these services, but we stipulate their volume and price separately.


Payment for our services of registration and licensing of a Electronic Money Institution - EMI in the Czech Republic is made in 3 stages (1/3 + 1/3 + 1/3):

  1. 1/3 is paid as a prepayment. From practice, we know that the only thing the CNB can find fault with is the business plan, since the law does not specify the requirements for it. Therefore, at the first stage, we are very scrupulous about the preparation of a business plan. Also at this stage we register a company and prepare all documents for submission to the Czech National Bank.
  2. 1/3 is paid after all the documents are ready and before submitting them to the CNB. At this stage, the dense work with the CNB on licensing application begins.
  3. 1/3 after obtaining license.


Electronic Money Institution (EMI)

Do you want to obtain an Electronic Money Institution license to conduct a business that provides payment services? We will help you solve such a task!

Our specialization is financial consulting, which our FinCzech team performs to a high professional level. We have worked in the Czech market since 1999 and are direct registrars.

The Czech Republic is the best jurisdiction for your international investment business in the EU.

We provide a full range of services for the registration and obtaining of an EMI license in the Czech Republic, which will allow you to:

  • operate in the territory of the European Union;
  • attract customers from different countries around the world;
  • provide financial services using electronic money and the ability to split and accumulate funds.

Contact us now to get answers to all of your thematic questions. If necessary, we will help you prepare the documents for submission to the Czech National Bank. Throughout the cooperation period, our specialists will provide complete consulting and legal support.

For a separate fee, we are ready to develop a financial and business plan.

By interacting with us, you can develop your business, providing payment services in Europe within 3-6 months (these are the terms for obtaining the appropriate license). We would be delighted to hear from you soon.


Cost, terms of registration and creation a Electronic Money Institution - EMI in the Czech Republic

Ekaterina 5

Prague, Czech Republic

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Alexsander 4

Prague, Czech Republic

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