In the Czech Republic, the issuer of electronic money has the right to assign electronic money if the average amount of distributed electronic money in distribution in the Czech Republic does not surpass the cash equivalent of EUR 5 million.


Timeframe: approximately 3-6 months

Initial capital: £109000.00

To be authorized to issue electronic money and offer services connected with it, a legal body should obtain an Electronic Money License. An approved EMI exchanges virtual electronic money (issued by EMI) for the stocks of consumers in form of cash.

For the goal of obtaining an Electronic Money license, a business is required to have a bank account for capital security and operational requirements in the Czech National Bank.

CNB acts as an administrator of payment businesses and electronic money institutions, ruling on registration and license applications’ admissibility.


  • A convenient way to the European market
  • Opportunity to employ workers from outside the Czech Republic.
  •  You can outsource services locally and internationally with proper approval.
Notable features

General information

Company structure

  •    Atleast one shareholder (individual or legal entity)
  •    Atleast two Executive directors


Corporate income tax – 19%*

*Czech citizen companies are obligated to pay corporate income tax on income obtained from outside (non-Czech) sources.

Accounting requirements

The recorded EMI shall reveal in particular the following data on its financial situation:

– A quarterly balance sheet

– A quarterly profit and loss statement

– Data on the amount of capital and the capital necessary to cover risks

Registered office – Needed (local presence required)

Company Name

  •     Must show a legal form
  •     Names that are misleading or deceitful are banned
  •     Offensive names are forbidden

In order to get a license, the subsequent steps will be carried out:

  • Name reservation
  • Establishment of the company
  • Application to Czech National Bank
  • License application

In order to obtain license, we will be needing this documents

Due Diligence on all directors holding 10% of shares and more

  • Notarized copy of original passport
  • Notarized copy of verification of address
  • Certified Bank reference (of all Director)
  • Legal reference (of all Director and Shareholder)
  • CV (of each Director and Shareholder)
  • Notarized Criminal Records (of each Director and Shareholder)

Additional Due application procedures may be prescribed by the FMS:

  • Original records that proof of origin of capital
  • Shareholder – physical person – tax declarations
  • Corporate entity – reviewed financial reports for 3-5 years
  • Anti-Money Laundering Policy
  • Business Plan

In case If a corporate body is used as a Shareholder:

  • Passport of an Authorized Person of the authorized entity (to be verified true copy by Commissioner of Oath, Notary Public or Embassy)
  • Utility Bill as proof of residency of an Approved Person for the body Corporate (to be verified true copy by Commissioner of Oath, Notary Public or Embassy)
  • Latest CV showing the Educational background and Working Experiences of an Approved Person for the body Corporate
  • M&A to incorporate the requirement on the business of the Czech Republic Company or passing to do so
  • Two Recommendation letters for the Authorized Person that is to be published by an Acknowledged such as a Lawyer, Accountants, Company Secretary or Bank of an Authorized Person for the body Corporate
  • Registries of businesses listing down the names of Auditor, Director, Shareholder, Company Secretary needs to be certified true copy by the Company Secretary
  • Resolution of the Business to fund in the Czech Republic Company to be certified accurate copy by the Company Secretary
  •  Group corporate shareholding formation including the applicant
  • Verified true copy of the certificate of the license conferred by relevant authority(s) in its home country – (if applicable)
  • Authenticated true copy of cabinet resolution or minutes of the general meeting which endorsed the setting up of the applicant
  • Copies of three years audited financial statements/annual report