FCA Permissions:
a) Services enabling cash placement on a payment account
b) Services enabling cash withdrawals from a payment account
c) Execution of payment transactions (not covered by a credit line)
d) Execution of payment transactions (covered by a credit line)
e) Issuing payment instruments or acquiring payment transactions
f) Money remittance
A ‘passport’ enables an authorised firm to provide financial products or services, set up a base, or run its permitted activities in another country in the European Economic Area (EEA). This includes where a firm regulated in another EEA country passports into the UK.
31 countries:
AUSTRIA | BELGIUM | BULGARIA | CROATIA | CYPRUS | CZECH REPUBLIC | DENMARK | ESTONIA | FINLAND | FRANCE | GERMANY | GIBRALTAR | GREECE | HUNGARY | ICELAND | IRELAND | ITALY | LATVIA | LIECHTENSTEIN | LITHUANIA | LUXEMBOURG | MALTA | NETHERLANDS | NORWAY | POLAND | PORTUGAL | ROMANIA | SLOVAKIA | SLOVENIA | SPAIN | SWEDEN |
Details of this transaction
Incorporation between 6-9 Years
Capital Requirement: Minimum EUR 125k (some addition may be required to convince that aforementioned firm is well-capitalised)
Client Types: Eligible Counterparty, Professional, Retail
Bank accounts: 2 in Italy, 1 in Germany, 2 in progress (UK, Latvia)
Business with Gateways
Amount of Clients: 40,000
Positive Financials
Currently has passporting to Europe
Firm has a clean record, no open or unresolved legal issues
Operating Costs – to be given if there is firm interest
Note: Proof of funds required as well as KYC of the potential entity or beneficial owner interested in purchasing this firm.
