A company wishing to obtain an e-money or payment institution license must apply for a license from the Danish Financial Supervisory Authority (FSA). The application process for an e-money license (EMI license) or payment institution license (PI license) involves several essential requirements.

Among other things, the company must implement a number of policies and procedures and the management must undergo a fit and proper assessment. In addition, the company must meet certain capital requirements to ensure that it has sufficient financial resources to cover its liabilities and operate its business in a stable and secure manner. The Danish FSA also requires the company to prepare a detailed business plan. This plan must include a description of the company's business model, goals and strategies, as well as an assessment of the risks the company faces and how these will be managed.

The rules in this sector can be complex, and the above is just a sample of the requirements that must be met when applying for an EMI or PI license.

Samar Law can assist with the following tasks, among others:

• Applying for permits and licenses: We help prepare and submit applications for permits and licenses to the Danish FSA and manage the project from start to finish.
• Policy creation: We assist in creating the necessary policies and procedures required for the application. This ensures that the company meets regulatory requirements and is ready for inspections and assessments.
• Correspondence with authorities: We handle all correspondence with the Danish FSA and other relevant authorities. This includes answering questions, providing additional documentation, and handling any issues that may arise in the process.
• Handling complaints and disputes: We assist in handling complaints and disputes that may arise, as well as any inspections by authorities.
• Regulatory updates: We keep you updated on upcoming regulations and legislative changes that may affect your situation, so your company is always prepared for new requirements.

If you have any questions or are looking for advice, you are welcome to contact lawyer Payam Samarghandi by email at payam@samarlaw.dk or by phone on +45 60 79 37 77.