Small Payment Institution (sPI)

for small Payment Institution (sPI)
in the Czech Republic:

  • Authorized capital: not required by Law on Payment systems
  • Legal form: both individual entrepreneur or legal entity, which has its legal and administrative office in the Czech Republic or both legal and administrative office in the Member State in which it conducts business and a registered branch in the Czech Republic
  • The license presupposes regionality. Regionality presupposes the implementation of activities in the Czech Republic, and the residence/location in the Czech Republic of the key employees. 
  • Turnover limitations: sPI is authorized to provide payment services only if the monthly average of the amounts of payment transactions carried out by it in the Czech Republic, including payment transactions carried out through its authorized representatives, over the last 12 months does not exceed the amount corresponding to EUR 3,000,000. 

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