Czech Republic Electronic Money License
The Czech Republic is a rapidly developing, Central European member of the European Union. With one of the highest per capita incomes in the European Union, the Czech Republic ranks higher than the United States with respect to the ease and cost of doing business. Czech Republic corporations face an effective tax rate of twenty percent while non-Czech Republic corporations are not taxed on foreign sourced income.
As part of the government of the Czech Republic’s efforts to grow its burgeoning financial services sector, it has passed a plethora of legislation modernizing its nascent banking and payments industries. The move has largely been successful, as a myriad of both electronic money and payment service providers have relocated to the Czech Republic to leverage its business-friendly environment. The streamlined, cost effective licensure process remains one of the most attractive across the globe today.
The Czech Republic is an ideal location for obtaining an electronic money license. A Czech Republic e-money license grants the operator wide latitude to offer an array of services, including stored value and payments. The Czech Republic offers two tiers of electronic money license in order to accommodate both established entities and startups.
Advantages of a Czech Republic Electronic Money License
In recent years, payment service providers based in traditional financial hubs such as the United States and European Union have faced near untenable amounts of regulatory scrutiny. In reaction to this, payment service providers have become increasingly limited in the industries they serve, foregoing not only traditional high-risk markets but also more traditional, conservative businesses. An offshore payment service provider license provides a respected platform for operating a payments-related business free from the encumbrances faced by operators in larger jurisdictions.
Czech Republic Electronic Money License at a Glance
|License||Electronic Money License|
|Time to License||3 to 4 Months|
|Tax Structure||Nineteen (19%) Percent Tax on Offshore Profits|
Czech Republic Electronic Money License Package
- Formation of Czech Limited Liability Company
- Preparation and drafting of shareholder & officer agreements.
- Preparation and drafting of narrative business plan (req.)
- Prepare five year financial projections (req.).
- Preparation and drafting of current financial statements (req.)
- Preparation and drafting of personal financial statements for owners (req)
- Identification and draft letters naming principal representative and auditor in Mauritius (req.)
- Preparation and drafting application with Mauritius regulators (req)
- Preparation and drafting of customer agreements and disclosures.
- Respond and draft responses to Regulator application inquiries(req.)
- Facilitate and consummate bankcard relationship with Visa & Mastercard
- Preparation and drafting of policy agreements and related documents(req.)
- Facilitate and consummate IBAN and correspondent bank relationship
- Preparation and review of bank deposit, loan and related agreements.
Contact the Czech Republic Electronic Money License Experts
Trust our over fifty year’s combined experience in creating innovative solutions for our clients. Contact the securities licensing experts at FinLaw to begin the process of obtaining your Czech Republic Electronic Money License today. Our knowledgeable and skilled professionals are pleased to answer any of your questions.