Learn what conditions you must meet to become an electronic money (e-money) institution (EMI), and what to include in your application to be authorised or registered.
This page provides extra information if you're applying to be:
- authorised as an authorised electronic money institution (AEMI), or
- registered as a small electronic money institution (SEMI)
Supporting material
Follow our guidance on how to prepare your application before submitting it on our Connect system.
Make sure you also include the supporting material listed below. We'll reject your submission without assessing it if you don't provide the minimum information we ask for.
Registering people to manage your EMI or SEMI
You must register all of the:
- members of your management board – ie the directors if you're a limited company or the members if you're a limited liability partnership (LLP)
- management staff – usually this will include your Head of Compliance and/or Money Laundering Reporting Officer (MLRO)
- other people who are responsible for managing your firm's regulated/registered activities
- you don't need to register staff that aren't directly responsible for these activities
You must also notify us in advance of any changes in the people responsible for your regulated/registered services.
Registering people with qualifying holdings
You must complete a form on Connect for each person or firm with a ‘qualifying holding’ in your firm. This is when the person or firm represents:
- 10% or more of the capital or voting rights, or
- less than 10% of the capital or voting rights, but can exercise significant influence
Use the relevant form below depending on whether the person or firm with a qualifying holding is an individual, incorporated company, partnership or trust.
You also need to tell us if there's a change in your qualifying holding, for example if a person or company ceases to have a qualifying holding.
There's more information about qualifying holdings in Chapter 3 of our approach document.
Registering agents
Once your firm is authorised or registered, you must register with us any agents which will provide payment services on your behalf.
If you indicated during the authorisation process that your firm intended to use agents, you should submit an application to register any agent(s) via Connect.
Where you didn’t indicate during the authorisation process that you intended to use agents, before you submit an agent application to us, you must either:
- Submit a notification to us under SUP 15 in line with your obligations under PRIN 11, and receive our confirmation that we have no material concerns with your framework for overseeing agents.
Or
- If your conditions of authorisation include a restriction on onboarding agents, you must submit an application to vary your permissions. Once the restriction has been removed, you may submit an agent notification to us.
