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- FCA fully licensed and authorized E-Money Institution (Full EMI) for sale.
- The company has not yet started operations.
- Safeguarding account has been opened.
- Initial capital required by FCA regulations has been contributed in the amount of €350,000. The buyer will have to replace this amount with their own funds.
Deployed core banking platform to start operations including:
- integrated AML / KYC / KYB modules
- gateways SWIFT / SEPA / Target 2 / CHAPS / FPS
- internet (web) banking
- mobile banking (iOS, Android)
Permissions to provide regulated products and services:
- Services enabling cash placement on a payment account
- Services enabling cash withdrawals from a payment account
- Execution of payment transactions (not covered by a credit line)
- Execution of payment transactions (covered by a credit line)
- Issuing payment instruments or acquiring payment transactions
- Money remittance
- Issuing Electronic Money
- Merchant Acquirer / Payment Facilitator (credit / debit cards)
- Payment Account operator
Further business development:
- Opening business accounts across the UK and EEA
- Application for passporting out services in the EEA and further business development in the EEA after the transition period
- Step-by step change of control (company management)
- Existing Directors may continue doing business with the new shareholders
- Developing contractual arrangements with EU Banks for SEPA / SWIFT / TARGET 2 integration
- Obtaining SWIFT and SEPA memberships, issuing of IBANs
- Developing contractual arrangements with British Banks for CHAPS / FPS / BACS integration
- Opening safeguarding accounts across the UK and EEA
- Launching card issuing programmes
Permissions to conduct other regulated activities can be added:
- Account Information Service Provider (RAISP, Open Banking)
- Payment Initiation Service Provider (PIS, Open Banking)
- Credit broker
- Consumer hire
- Insurance intermediary
- Mortgage and general insurance
- IFA / Independent Financial Advisor
- Investment services / management
- Claims management
- Passporting to EU
We have owners who might be interested in selling their Small E-money (EMI) and Payment Institutions (SPI) that do not require initial own capital of €350,000 such as in this case of a Full EMI as well as other types of FCA authorized companies.
If you own an FCA-authorized company of any type and permissions and wish to sell it, feel free to contact us, we can help you with that. We specialize in obtaining FCA authorizations and sales of existing already authorized companies.
We are a skilled team of specialist advisers guiding independent distributors of financial services through the pitfalls of regulation compliance and obtaining authorizations from the Financial Conduct Authority (FCA) to conduct regulated business. We have a particular expertise of benefit to Authorized Payment Institutions (API), Small Payment Institutions (SPI, money remittance), Consumer Credit Firms (loan brokers and lenders), Electronic Money Institutions (EMI, e-money, cryptocurrency), financial advisers (IFA), mortgage consultants, insurance brokers, and investment fund managers. A vital component of our activity is assistance to companies seeking FCA authorization to conduct regulated financial business. We also act as a broker for owners of authorized financial businesses interested in finding buyers or investors for their companies. Additionally, we represent investors and business buyers in their search to buy or invest in regulated FCA-authorized financial businesses. Google "Hirett" to find more information about us.
We at Hirett specialize in FCA authorizations to conduct regulated financial activities and representation for sellers, buyers and investors of Authorized Payment Institutions (API), Small Payment Institutions (SPI, money remittance), Consumer Credit Firms (loan brokers and lenders), Electronic Money Institutions (EMI, e-money, cryptocurrency), financial advisers (IFA), mortgage consultants, insurance brokers, and investment fund managers. Google "Hirett" to find more information about us.
Currently the company is registered in London but it can be easily relocated and operated from any other place.
Using the existing FCA authorisation the company can easily expand and add any other permissions for regulated financial products and services.
Corporate and personal internet banking is still not developed sufficiently and this niche is available. There's some competition from conventional banks but their policies and long onboarding times make it difficult for start-ups or non-UK legal entities to open an account. Current regulations together with the conventional banking approach opened a new potential to the FinTech industry that lead to the new companies’ arrival on the market that create serious competition to conventional banks.
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