Authorised EMoney Institution (AEMI) License

Authorised EMoney Institutions, or AEMI’s, are types of financial institutions that are authorised to issue EMoney and authorise EMoney Transactions.
Find out how Madeira Company can manage your AEMI License Application

Madeira Company specializes in the acquisition of Authorized EMoney Licenses for companies based in the United Kingdom.

Businesses based in the United Kingdom that want to issue EMoney require authorisation from the Financial Conduct Authority, under the Electronic Money Regulations (2011) and the Payment Services Register (2017).

Businesses that generate more than €5 million in EMoney on average, or conduct more than an average of €3 million per month in unrelated payment services are required to apply for a AEMI License.

Requirements for UK AEMI License Holders include:
- A minimum initial capital of €350,000 EUR

- UK Based Company

- Business Plan and 3-year Financial Forecast, including:
1. Evidence that the business can generate EMoney with a forecast monthly average.
2. Thorough detail on how the business will protect user funds.
3. Internal policies and procedures governing safe and effective management of an EMoney business.
4. Detailed Business Plan outlining the scope of the business and the reason the license is required.
5. Local (United Kingdom based) AddressLocal (United Kingdom based) Director

With an AMEI Licenses appointed in the United Kingdom, the list of permitted activities are as follows:
- Services enable cash to be deposited into a payment account and the operations required for operating a payment account.

- Services enabling cash withdrawals from a payment account as well as all the operations required for operating a payment account.

- Completion of payment transactions, including transfers of funds from a payment account with the user’s payment service provider or with another payment service provider:
1. Completion of payment transactions through a payment card or a similar device.
2. Completion of credit transfers, including standing orders.
3. Completion of direct debits, including one-off direct debits.

- Completion of payment transactions where the funds are covered by a credit line for a payment service user:
1. Completion of direct debits, including one-off direct debits
2. Completion of credit transfers, including standing orders.
3. Completion of payment transactions through a payment card or a similar device.

- Issuing of payment instruments and/or acquiring of payment transactions.

- Money remittance.

- Payment initiation services.

- Account information services.

- Issuing e-money, provision of operational services and closely related ancillary services or the provision of payment services.

- Operation of payment systems.

- Business activities other than issuance of electronic money, having regard to the applicable Community and national law, etc.

The Package includes:

- UK Company Formation, including a physical address and a local secretary

- AEMI License – *Subject to FCA Approval

- Business Plan Anti-Money Laundering and KYC policies and procedures

- SWIFT and LEI Code Registration

AEMI License Application Process

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