Gibraltar Electronic Money Issuer License

Application Submission

Submit a detailed application to the GFSC outlining your business model, ownership structure, and the electronic money services you intend to offer.

Fit and Proper Assessment

Demonstrate that your company's directors and senior management meet the GFSC's fit and proper requirements, showing relevant experience and good standing.

Business Plan and Risk Documentation

Provide a comprehensive business plan along with financial projections, risk management policies, and details of your operational infrastructure.

GFSC Review and Approval

Undergo the GFSC's review and assessment process, which may include further documentation requests before final authorization is granted.

Full EMI License

Allows companies to issue electronic money without any restrictions on transaction volume, suitable for larger fintech operations.

Small EMI License

Designed for smaller businesses with limited monthly transaction volumes, offering a lighter regulatory burden while still permitting e-money issuance.

Agent of an EMI

Allows a business to distribute or redeem electronic money on behalf of an already licensed EMI, without needing a full license of its own.

Hybrid Payment and E-Money Providers

Entities offering both payment services and e-money issuance under a combined authorization, ideal for businesses with diverse financial service offerings.

Full EMI License Capital

Full EMI license holders must maintain a minimum initial capital of EUR 350,000 to ensure financial stability.

Small EMI License Capital

Small EMI license holders benefit from significantly lower capital requirements, making it accessible for smaller fintech businesses.

Capital Aligned with E-Money Volume

Ongoing capital must be maintained in line with the volume of electronic money issued and outstanding at any given time.

Additional Risk-Based Buffers

Additional capital buffers may be required based on the risk profile and scale of the business's operations.

Separation of Customer Funds

Customer funds received in exchange for electronic money must be safeguarded separately from the company's own operational funds at all times.

Secure Fund Placement

Safeguarded funds must be held in a segregated account with an approved credit institution or invested in secure, low-risk assets.

Internal Reconciliation Procedures

EMIs must implement clear internal procedures to ensure safeguarded funds are reconciled regularly and remain available to customers on demand.

Ongoing Reporting to GFSC

Regular reporting to the GFSC is required to demonstrate that safeguarding measures are being properly maintained and funds remain protected at all times.