Austria EMI License

The EU directives are in effect in Austria. According to them, the financial-virtual instruments are divided according to the base of creation: hardware (in particular, digital wallets) and software products – “electronic cash”.

Requirements for the Company-License

If the applicant creates a business for which a payment license will be used, Austria requires:

to bring in the authorized capital – half of the whole necessary amount;
to have at least one shareholder;
to provide apostilled documentation (the decision of owners, the Memorandum of Association, the conclusion of the Board of Directors), as well as the protocol and the certificate of shares.

In the work process it is necessary to submit annual financial reports, pay taxes. Austria, as the EU-jurisdiction, opens opportunities for work throughout the European Union to e-money license holders. To access the markets of specific countries, it is necessary to undergo an additional procedure – certification.

N5Bank company will help in solving all issues related to permits obtaining and companies registering in Austria.

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Services of N5Bank Company

Our employees provide a full range of professional consultancy on the specifics of applying for a license, working with electronic payment instruments, as well as:

form the strategy of actions and help to choose the optimal from the taxation point of view form of business;
help in business plans drawing up, descriptions of policies and procedures;
help to form, legalize, apostilize the submitted package of documents, check its completeness, correctness of filling in;
if necessary, undertake the legal entity registration, opening bank accounts for it;
support the application for a license and track the documents movement.

Technical compliance:

Professional IT analysis to ensure that the software meets regulatory standards. There are proven software solutions such as BAAS or SAAS. We significantly often work with such platforms as SoftexLab, which is ready-made technical solutions for your future fintech business, which are audited by various regulators within the jurisdiction.

Card issuance:

We recommend a White Label solution with partners such as XBANKSY, which is aggregator of more than 30 different cards and BIN- sponsorship around the World. This is a faster and, most importantly, more profitable way than direct VISA or MasterCard membership.

Experts of N5Bank will help to comply with the European legislation requirements, pass through bureaucratic procedures. You can order a full package of services or get help in specific problems solving. We know the whole process in practice, so we take into account even the non-obvious nuances.

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