SPI payment license in the UK, how to obtain
SPI payment license in UK gives the opportunity to do business in the country. In the UK there are good conditions for entrepreneurship. The government supports foreign investors who plan to invest in business. To clarify the nuances of obtaining a business license, contact our specialists at IT-OFFSHORE.
Documenting in Great Britain
The currency exchange market in the country is regulated by the FCA. All companies that provide currency exchange services are required to obtain an SPI license in the UK in 2021. Different types of documentation imply different opportunities to operate, determine the requirements for activities and specifics of doing business.
The main requirements are:
- Compliance of the form with existing supervisory guidelines;
- Presence of a positive reputation and experience in the financial sphere;
- The volume of operations per month does not exceed €3,000,000 on average;
- Managers must not have charges of money laundering or other crimes;
- Must have an office in the territory.
At least one resident is required in the management structure, a physical office is required. If these requirements are not met, it is not possible to obtain an SPI payment license in the UK.
Pros of processing
The license allows you to legally conduct business in the UK. The permit is suitable for establishments with a monthly turnover not exceeding 3 million Euros.
The document, issued in Britain, means the legalization of work in any European country. It is possible to conduct operations with cryptocurrency, the process of obtaining it is relatively quick and takes an average of 3 months. There are no restrictions on the types of financial work.
What documents are needed
Permit can be obtained, if firm's turnover does not exceed 3 million euros per month. Otherwise, it is necessary to apply for API. Office of the financial organization must be located within the country, additional representation is required.
The managers must be residents of the UK. The reputation of all founders is carefully examined - the presence of offenses prevents the execution of the document.
You will need to prepare a number of documents - an application for a document, a certificate with data about the work of the organization. Data on the founders, a confirmation of the share of the authorized capital of each of them. A fee is charged for the application.