SMALL-SCALE PAYMENT SERVICE PROVIDER
REGISTRATION IN THE CZECH REPUBLIC
Registration and obtaining licenses of the Small-scale payment service provider in the Czech Republic
SMALL-SCALE PAYMENT SERVICE PROVIDER
If you plan to organize a payment system and start a payment service business, then you will need an appropriate license.
And if you are just starting, and your planned turnover will not exceed 3 million euros per month, we advise you to pay attention to the license “Small-scale payment service providers”, which you can get in the Czech Republic.
Czech Republic is the best solution for organizing your payment system. Since the Czech license “Small-scale payment service providers” is a European license, and you as founders and directors can be residents of any other country, including Russia, Ukraine, Kazakhstan, etc. What is more, you will not be limited in attracting customers from around the world. And your employees can work remotely from anywhere in the world.
By registering the company as a “Small-scale payment service providers” in the Czech Republic, you can significantly save on starting your business, set up all business processes, and in case of need, you can switch to a full license of a Payment Institution.
We provide a full service for registration Small-scale payment service providers in the Czech Republic.
Below are answers to the basic questions on registration and licensing application “Small-scale payment service providers” in the Czech Republic.
And if you are just starting, and your planned turnover will not exceed 3 million euros per month, we advise you to pay attention to the license “Small-scale payment service providers”, which you can get in the Czech Republic.
Czech Republic is the best solution for organizing your payment system. Since the Czech license “Small-scale payment service providers” is a European license, and you as founders and directors can be residents of any other country, including Russia, Ukraine, Kazakhstan, etc. What is more, you will not be limited in attracting customers from around the world. And your employees can work remotely from anywhere in the world.
By registering the company as a “Small-scale payment service providers” in the Czech Republic, you can significantly save on starting your business, set up all business processes, and in case of need, you can switch to a full license of a Payment Institution.
We provide a full service for registration Small-scale payment service providers in the Czech Republic.
Below are answers to the basic questions on registration and licensing application “Small-scale payment service providers” in the Czech Republic.
- This is the 1st item
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FAQ
- Small-scale payment service provider - what is it?
- What services can be provided by small-scale payment services providers?
- List of documents that we will prepare and submit to the CNB.
- What are the special conditions for obtaining a license of a Small-scale payment service provider in the Czech Republic?
- What documents must be provided by the founders?
- A list of services that are included in the scope of our services for registering a Small-scale payment service provider.
- Payment procedure for our services
- Price and terms of obtaining a license.
- Our contacts
FREQUENTLY ASKED QUESTIONS
Companies that will provide payment services are required to register and obtain permission to operate a payment service provider.
In the Czech Republic, as well as throughout the European Union, there are 2 types of licenses for payment service providers:
In the Czech Republic, as well as throughout the European Union, there are 2 types of licenses for payment service providers:
- Payment institution
- Small-scale payment services providers.
- The maximum average monthly turnover of 3 million euros at the rate of the last 12 months. Those must not exceed 36 million euros for 12 months.
- Can provide services only in the Czech Republic. However, this does not prohibit customers from all over the world. And company employees can work remotely.
A small-scale payment service provider can provide all payment services specified in § 8 of Act No. 284/2009 Sb., as well as the Payment institution, but with the limitations described above.
- Provide payment services specified in its registration as a Small-scale payment service provider.
- To carry out activities related to the provision of payment services specified in its registration with the Small-scale payment service provider, including the provision of loans under certain conditions.
- Provide payment systems, with the exception of a payment system with an irrevocable payment system.
- Application for registration in the register of small-scale payment service providers.
- A document on the authorization of commercial activities.
- Extract from the penalty register in the Czech Republic to the founders and directors.
- Extract from the penalty register from the countries of residence of the founders and the director.
- Questionnaire for each manager, with information about work experience and education.
- Business plan and financial plan.
- A description of how to implement various payment services.
- Description of methods of protection of funds trusted for payment transactions.
What are the special conditions for obtaining a license of a Small-scale payment service provider in the Czech Republic?
Questions? Contact us
- 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.
- It is necessary to take into account that the license of a small-scale payment service provider implies the conduct of activities in the Czech Republic. Therefore, the business plan should mainly be focused on attracting customers from the Czech Republic. Of course it does not limit in attracting customers from other countries.
- 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.
- 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.
A list of services that are included in the scope of our services for registering a Small-scale payment service provider.
Questions? Contact us
- 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 of our services for registration of a Small-scale payment service provider (Small-scale payment service providers) is made in 3 stages (1/3 + 1/3 + 1/3)
- 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.
- 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.
- 1/3 after obtaining license.
PRICE
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TERMS
Cost, terms of registration and creation a Small-scale payment service provider in the Czech Republic
CONTACT US
EKATERINA CHALKINA
EKATERINA CHALKINA
Prague, Czech Republic
ALEXANDER YAKIMENKA
ALEXANDER YAKIMENKA
Prague, Czech Republic
