Small Electronic Money Institution (sEMI)

Requirements
for small Electronic Money Institution (sEMI):

  • Legal form: legal entity with legal and administrative office in the Czech Republic or its legal and administrative office in other Member State, in which it actually does business and a registered branch in the Czech Republic
  • Turnover limitations: the average amount of electronic money issued by sEMI in circulation in the Czech Republic does not exceed the amount corresponding to 5,000,000 euros
  • sPI is authorized to provide payment services that do not relate to electronic money, only if the monthly average of the amounts of payment transactions carried out by it that do not relate to electronic money in the Czech Republic, including payment transactions carried out through its authorized representatives, for the last 12 months will not exceed the amount corresponding to 3,000,000 euros

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