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Small Payment Institutions (SPIs) in Poland are a promising business venture due to their unique position within the financial landscape. While they have fewer powers and capital requirements than fully licensed institutions, they still play a vital role in the payment services sector.
SPIs are registered service providers and issuers of e-money, engaging in various activities such as:
Notably, SPIs cannot initiate transactions or provide access to account data, limiting their scope compared to traditional financial institutions.
While there are no strict regulations for staffing, having a team of two local directors and four resident employees is advisable. The management should include individuals responsible for AML policies, compliance, financial reporting, cybersecurity, and marketing. Additionally, a minimum initial capital of €125,000 is required. Once the license is granted, the SPI has six months to establish its infrastructure and commence operations.
Acquiring an existing SPI license is a viable option, eliminating the need to navigate the licensing process. The required documentation for a license application includes:
Purchasing an SPI with an existing license streamlines the process, as the documentation is already prepared.
Poland offers attractive conditions for SPIs, including:
These factors make Poland an appealing destination for establishing and operating an SPI.
If you’re considering entering the Polish payment services market, acquiring or establishing an SPI could be a lucrative and strategic move. With careful planning and execution, you can capitalize on this growing sector and establish a successful business venture in Poland.
International Fintech Business (IFB) can help you enter the fintech industry. We can help you incorporate a company with an SPI license in Poland. IFB also provides a diverse selection of ready-made companies with these licenses for sale. Our experts can help answer any questions you may have. Contact us today!