Regulators：Luxembourg Financial Institutions
Regulatory region：Luxembourg
License Type：EMI
Application price (USD)：****
Application frequency：12 months
Maintenance costs (USD)：****
Company summary：
To obtain an e-money license in Luxembourg, issuers of electronic money and payment system operators (merchant accounts, purses) must create in the dukedom a legal entity with a “physical” real head office and a minimum capital of 350,000 euros. The most attractive and convenient organizational form for the electronic money issuer is SICAR in the form of SeCS, a limited partnership (like Russian LLC). As a partner it can be a foreign, offshore company, nominal shareholders and directors are allowed.
Product details：
The electronic money license in Luxembourg is issued to the company if the following conditions are met: at least three directors, one of whom is a resident of the dukedom (an individual person), and the rest may be non-residents or legal entities; an account with a local bank for business transactions performing; accounting; the number of shareholders is from one (it is not necessary to identify real beneficiaries in the official structures); hiring employees, renting a real office.
