SPI license in Poland and Czech Republic

The SPI license is a strong tool to facilitate the development of a large-scale payment business. A reliable solution for providers of a wide range of payment services The SPI license covers small pa

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A company with an SPI license can provide most types of payment services, namely

Maintenance of payment accounts
Making transfers from the account
Making transfers from cards / other instruments (including mobile application)
Implementation of direct debit
Issuance of payment instruments
Enquiring
Provision of money transfer services

Requirements for SPI registration in Poland

01
Authorized capital: for a limited liability company - PLN 5,000, for a joint-stock company - PLN 100,000, for a limited partnership - PLN 50,000.
02
Region: implementation of activities in Poland.
03
Turnover limits: the average monthly value of all payment transactions performed in Poland in the last 12 months does not exceed the amount of EUR 1,500,000 (including transactions performed through agents). If this amount is exceeded, the company must, within 30 days, change the size of its business to comply with the established limit or apply for a national payment institution license.
04
The amount of funds that can be kept by the client on all payment accounts must not exceed EUR 2,000.
05
Participant Requirements:
- Shareholders and beneficial owners may be residents of Poland and other countries, except Russia and Belarus
- Board: no criminal record
- AML/CFT Compliance Officer: relevant AML/CFT skills and experience, including knowledge of the current AML/CFT regulatory framework and AML/CFT policies, controls and procedures, and sufficient years of experience to perform their duties effectively, independently and autonomously.
- Availability of a person responsible for internal control

Requirements for SPI registration in the Czech Republic

01
Share capital: no requirement
02
Legal form: a sole proprietor or a legal entity with a legal and administrative office in the Czech Republic or a legal and administrative office in the EU Member State in which it conducts business and a registered branch in the Czech Republic.
03
Region: conducting business in the Czech Republic and residence / stay of key employees in the Czech Republic.
04
Turnover restrictions: the average monthly value of all payment transactions performed in the Czech Republic in the last 12 months does not exceed the amount of EUR 3,000,000 (including transactions performed through agents).

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Procedure for obtaining an SPI license in Poland

01
Obtaining a PESEL (analogous to a TIN)
02
Obtaining an ePUAP (digital signature)
03
Online registration of a company in Poland with authorized capital of 100,000 PLN
04
Opening a bank account in a Polish bank and depositing the authorized capital of the company (company business account)
05
Registration of the company with the Polish tax authorities (NIP)
06
Renting an office for the company and employing employees
07
Business Plan Development
08
Development of legal, financial and IT documents (AML/KYC, security policies, IT, RODO)
09
Preparation of the company's operational documentation (internal policies, risk management policy)
10
Preparation of the application, communication with the local regulator - Polish Commission for Financial Supervision (KNF)
11
Receive confirmation of registration with KNF
12
Opening an account for client funds

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