The main feature of crypto license in Czech Republic
Limited licenses for both types of institutions are available for payment systems whose turnover does not exceed 3 million euros per year – for payment institutions. The amount of electronic money – 5 million euros for six months – for the issuer of electronic money. However, this license will be valid only on the territory of the Czech Republic. Therefore, if you want to operate on the territory of the entire European Union, not just the Czech Republic, you should immediately get a normal license suitable for you payment system.
Requirements for obtaining a crypto license in the Czech Republic
In order to get a license of the payment system in the Czech Republic you need to meet some requirements:
- Authorized capital, which constitutes
- 20 thousand. Euro – for ordinary activities;
- 125 thousand. Euro – if the applicant plans to carry out the collection and withdrawal of cash;
- 350 thousand. Euro – for the issuer of electronic money.
- Corporate Structure.
- Fintech project must have at least 2 directors, only individuals allowed
- Half of employees must have Czech citizenship
- Payment system must have an office in the Czech Republic.