UK A-EMI license electronic money institution license sales information introduction

Introduction to the Sale of UK A-EMI (Authorized Electronic Money Institution) Licenses

Basic Information

License plate type
A-EMI License
Issued Area
United Kingdom
s
FCA UK Financial Conduct Authority
Validity period
Continuously valid (annual review required)
price range
bargain

Licence Details

类别 details
Basic Information
Country of registration 英国
License Type A-EMI (Authorized Electronic Money Institution)
Date of approval May, 2021
Licensed Areas 英国
Official website UK domain name, in operation
License and Service Scope
Payment Services – Allow cash deposit/withdrawal into payment account
– Execute payment transactions (with or without credit line)
– Issuing payment instruments or acquiring transactions
Other financial services – Remittance services
– Issuance of electronic currency
– Visa/Mastercard membership
– International payments (SWIFT BIC connection)
Company Management and Employees
Management – MLRO (may remain in office)
– Directors must have experience and qualifications in the payment/electronic money industry
Employee situation 6 outsourced employees (some can be retained)
GLOBAL PARTNER Outsourcing Partner: XOALA – Steven AB
Services and Products
Current Services Provide IBAN and foreign exchange services
Target customers Companies and individuals
Supported Currencies GBP, EUR, multi-currency (including USD accounts)
Compliance and Regulation
Anti-Money Laundering/KYC Integration with Comply Advantage
Regulatory Records No fines/warnings
Cooperative Bank Bank of London, Griffin Bank, Bond CB, European Commercial Bank, LHV Bank (SEPA connection in progress)
IT Systems
Core Systems Integrated Finance
CRM System Hubspot
Forex system Currency Cloud
2FA Authentication Twilio Platform
Maintenance cost Need to be provided after signing NDA
Financial status
Current operating status No business
Office Rental Use of offices of other companies within the group
Monthly expenses 45K GBP (including fixed costs such as software rental)
other information
Shareholder requirements – No region restrictions
– Proof of identity and funds (legal source) is required
– Shareholders must have a total of £200 million in operating capital
License transfer time 1.5-3 months (fast track) or 3-12 months (regular)
system status All connected and can continue to use (provided by third party)

Summary of key points

  1. License value: covers a wide range of services including electronic money issuance, international payments, Visa/Mastercard membership, etc.
  2. Compliance: No record of regulatory penalties, and a sound anti-money laundering system.
  3. Transfer flexibility: supports shareholder changes, escrow transactions, and the system is ready to use.
  4. Cost considerations: Current average monthly expenses are 45K GBP, and proof of funds of 200 million GBP is required.
More information about EMI license

FAQs

  • The FCA is cautious about license transfers and the buyer needs to prove that it has sufficient funds, compliance capabilities and business plans.

  • Key Points:

    • The buyer needs to submit a detailed business plan, proof of funding source and management qualifications (such as payment industry experience).

    • The FCA may require interviews with the buy-side team or background checks on its controlling shareholders.

Yes, the FCA will regard it as a “Change of Control” and a new application (such as Form OSUP) will need to be submitted, but the process is faster than a new application (1.5-12 months).

Yes, the buyer needs to prove:

  • Initial capital: At least €35 (or equivalent in GBP).

  • Ongoing capital: Meet the FCA’s ‘ongoing capital requirements’ (based on the size of the business).

  • Shareholders' capital proof: The £200 million mentioned by the seller is additional working capital, which is not a mandatory requirement of the FCA but may be used to enhance the buyer's creditworthiness.

Yes, but please note:

  • If the buyer is a foreign entity, the FCA may require it to set up a branch or local directors in the UK.

  • Clear shareholding structure and ultimate beneficial owner information (UBO) must be provided.

The buyer should review:

  • FCA Registration Information: Confirm license status (no restrictions or penalties).

  • Historical Audit Reports: Review past compliance issues (e.g., AML vulnerabilities).

  • Partner Bank Records: Confirm whether the bank relationship is stable (for example, the LHV bank docking progress mentioned by the seller).

Due diligence is required to confirm:

  • Require the seller to provide FCA correspondence and internal compliance reports.

  • Use a third-party service, such as Regulatory DataCorp, to screen regulatory records.

Depends on buyer needs:

  • If you continue to use an existing system (such as Integrated Finance), you need to confirm whether the third-party service contract is transferable.

  • If you change the system, you need to evaluate the migration costs (such as API connection and data migration).

The transaction agreement must specify:

  • Are customer contracts automatically transferred?

  • Is it necessary to re-KYC? For example, if the buyer changes its business model (such as adding cryptocurrency services), it may trigger a new compliance review.

Yes, but please note:

  • A share acquisition may trigger the FCA’s review of a ‘change of control’ (similar to the direct transfer process).

  • If the company has debts or legal disputes, equity acquisitions are more risky (full due diligence is required).

Phased timetable:

stage Time estimate
due diligence 2-4 weeks
FCA pre-application consultation 1-2 months (optional)
FCA formal approval 1.5-3 months (fast)
Bank account migration 1-6 months (depending on the bank)

  • FCA application fee: Approximately £5,000-25,000 (depending on the complexity of the business).

  • Compliance Advisory Fees: Assist with FCA communications (usually £1-5).

  • System migration cost: Replacing a core banking system could cost more than £10.

The transaction agreement must specify:

  • Usually the deposit is paid in stages (e.g. 30% when signing the agreement and the balance after FCA approval).

  • A clause of “full refund if supervision fails” can be agreed upon.

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