Small Payment Institution (SPI) Licence in Poland
To run a small and medium-sized business in the field of payment services in Poland, it is required to obtain an SPIlicense in Poland. With this licensed form of business, it will be possible to provide almost all possible types of payment services in the chosen country. However, it is also required to adhere to the established restrictions. The most important condition is to comply with the maximum amount on the client’s account and the maximum average monthly payment amount.
Requirements for Obtaining an SPI Licence in Poland
To apply for an SPI license in Poland, it is first necessary to study all the requirements. The most important of them is that the company must comply with the rules of the local financial regulator. In addition to the amounts, the person managing the SPI has not been finally convicted of an offense against the administration of justice, an offense against economic turnover, an offense against money and securities turnover, an offense referred to in Article 165a of the Criminal Code, an offense committed to obtaining a financial or personal benefit or a fiscal offense, etc. One cannot have ties with the Russian Federation or Belarus. At the same time, not only Polish citizens but also foreigners (except for citizens of Belarus and the Russian Federation) can act as beneficiaries and shareholders.
It is also worth paying attention to other Poland SPI license requirements:
- The average amount of monthly payment transactions that were carried out within 1 year should be no more than 1, 500, 000 EUR (this also includes payments that were made through agents);
- The account of one small payment organization of the client must contain up to 2,000 EUR.
Please, note that the SPA shall report to the PFSA in the following cases:
- Exceeding the level of 1,500,000 EUR:
- a) the total amount of payment transactions in a given month, including those executed by agents through which the small payment institution provides payment services,
- b) the average monthly amount of payment transactions for each period of the last 3 months and the last 12 months, including those executed by agents through which the SPI provides payment services;
- initiation of criminal proceedings in a case of an offense referred to the legislation or proceedings in a case of a fiscal offense against a managing person.
Please, take into account that if the above limits are exceeded, the SPI will have to apply for an official NPI license (this must be done within 30 days of the first exceeded limit). The SPI can then continue to operate as a full-fledged NPI, exceeding the limits even though it does not yet have a license.
SPI Licence Application Process in Poland
The SPI license Poland application process consists of several important steps that must be followed:
- Prepare a well-thought-out business plan. Firstly, the applicant for this specific license clearly and legibly, and most importantly – correctly fill out the FSA application form. It is also worth submitting full information about the applicant (full name, address, and number in the register in the National Court Register (Krajowym Rejestrze Sądowym) ) a list of payment services that the entrepreneur intends to provide as an SPI; data concerning SPI agents (if the activity will be conducted through agents), including:
- first name and surname or the name (company) of the agent,
- place of residence and address or registered office and address of the agent and the address of the main place of business;
- data concerning individual MIP branches (if the activity will be conducted through branches), including:
- name (company) of the branch,
- address of the branch.
- You must also submit a package of additional documents: a business and financial plan for one year, an anti-money laundering (AML) plan, etc.
- Set up internal workflows. Submit a list of payment services with detailed descriptions description of the method of protecting funds received from users to execute payment transactions and an obligation to immediately inform the PFSA of any changes thereto and graphics of the payment services that the entrepreneur intends to provide as SPI with a description of these services and an indication of which of the types of services on payment services (APS) these services belong to (the graphical diagram and description of payment services should indicate the entities participating in the process of providing each service, characterize the flows of funds and information in the process of providing a given service and use terminology in this respect consistent with the provisions of the APS); a description of the method of protecting funds received from users to execute payment transactions and an obligation to immediately inform the PFSA of any changes thereto;
- Make a fixed stamp duty payment.
- You can apply to the PFSA by any convenient means: personal application, postal submission, or ePUAP (via electronic form).
You can handle all the processes and paperwork yourself or entrust it to real professionals. SPI license experts in Polandwill answer all your questions and make your registration take as little time as possible.
Our awards
Costs and Fees for SPI Licence in Poland
SPI license Poland cost is fixed. You will have to pay a stamp duty to the state authority for submitting a package of documents and registration. It amounts to PLN 616. At the same time, if you need a Poland SPI license legal services, registering a small payment institution will require a large investment. But the qualified support of specialists will allow you to avoid problems with correctly filling out the application and other important points. This way, you can complete everything much faster and at the first time.
How to Purchase an Existing SPI Licence in Poland
It is quite easy to purchase an SPI license in Poland, as it offers excellent flexibility in providing hybrid services: you can provide both payment and non-payment services. There are also no legal form requirements so that financial services can be provided by:
- S.A;
- LLC;
- IE.
The registration process’s formal requirements have been simplified, making this institution easier and more accessible for many entities.
Why Choose Professional Consultancy for SPI Licence in Poland
SPI license consultancy Poland is the best way to get everything done quickly and in compliance with all the current requirements of the financial regulator. Qualified Fintech Harbor Consulting LTD specialists are always ready to help with this issue. We provide full legal support in process-related SPI licenses. , so you can rest assured that everything will be done correctly.
Secure SPI license Poland requires the submission of a large number of documents and the correct completion of the application (otherwise, it may be returned to be supplemented with information). If you contact the experts in your field, you can save yourself from additional worries.
Rated by our clients
FAQ
What are the key requirements to obtain an SPI license in Poland?
To obtain a license, you must not have a criminal record, Russian Federation or Belarus citizenship, or ties to these countries. However, not only Polish citizens but also foreigners can apply. It is also worth observing the sum limits.
How long does it take to obtain an SPI license in Poland?
It can take a maximum of 3 months to register a small payment institution in Poland, provided that a correctly completed application has already been submitted. If the document needs to be supplemented, the 3 months start to run from the moment the application is corrected and put in the correct format for consideration.
How much will I pay to get an SPI license in Poland?
SPI license Poland fees are fixed. You will need to pay a state fee of PLN 616.
