Czech Republic Payment Service Provider 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 a payment service provider license. A Czech Republic payment service provider license grants the operator wide latitude to offer an array of services, including money remittance and payments. The Czech Republic offers two tiers of its payment service provider license in order to accommodate both established entities and startups.
Advantages of a Czech Republic Payment Service Provider 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 Payment Service Provider License at a Glance
| License | Payment Service Provider |
| Time to License | 3 to 4 Months |
| Capital Requirement | Varies |
| Tax Structure | Zero (0%) Tax on Offshore Profits |
| Lorem Ipsum | Lorem Ipsum |
| Lorem Ipsum | Lorem Ipsum |
| Lorem Ipsum | Lorem Ipsum |
| Lorem Ipsum | Lorem Ipsum |
Resources
| Description | QR code | Download |
|---|---|---|
| Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type. |  |
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| Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type. | |
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| Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type. | |
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Czech Republic Payment Service Provider License
- Incorporation of Czech Republic Corporation or comparable offshore corporation
- Arrange for local registered officer and local directors, if required
- Draft corporate bylaws, minutes and owner share issuances
- Establishment of corporate bank account suitable for forex operations
- Establishment of merchant service account for accepting credit and debit cards
- Draft requisite business plan, financial statements and financial projections
- Draft requisite Anti-Money Laundering & Know-Your-Customer policies
- Arrange for requisite surety bond
- Prepare and process application for Czech Republic Payment Service Provider License
- Representation before licensing regulatory authority, banks and liquidity providers
Contact the Czech Republic Payment Service Provider License
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 Payment Service Provider License today. Our knowledgeable and skilled professionals are pleased to answer any of your questions.
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