EMI license in Spain

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The Spanish market is developing rapidly, promising significant prospects for the fintech business. The country is considered one of the most dynamic fintech ecosystems in Europe. It is here that there is extensive experience in the successful registration of payment institutions of electronic money, as well as the provision of tax benefits and other advantages, which makes it attractive compared to other jurisdictions.

The main advantages of obtaining an EMI license in Spain:

  1. Stable Economy and Political System: Spain is known for its stable economy and predictable political system, creating a favorable environment for fintech companies.
  2. Access to the European and Latin American Markets: Spain’s location provides easy access to the European market, a key factor for many companies aiming to reach a customer base in Europe. Due to the linguistic and cultural identity of Spain and Latin American countries, companies with payment licenses in Spain also have the opportunity to enter these markets.
  3. Progressive Legislation: Spanish legislation in the fintech sector is constantly evolving, offering innovative companies transparent and flexible norms.
  4. Timely Licensing Process: The process of obtaining a payment license in Spain is relatively quick, enabling faster implementation of business objectives.
  5. Developed Banking System: The Spanish banking system is considered one of the most developed in the world, providing support and convenience for fintech companies.
  6. Tax Advantages: Spain offers competitive tax rates and incentive programs to attract financial technologies.

Requirements for obtaining an EMI in Spain

To obtain an EMI (Electronic Money Institution) license in Spain, your company needs to meet the requirements set by Spanish regulators:

  • The company must be registered in Spain and have a relevant legal form, such as Sociedad Anónima (SA) or Sociedad Limitada (SL).
  • The share capital is from 350,000 euros;
  • The director or another authorized representative of the company is a resident of Spain, as well as a local Compliance officer, but depending on the number of payment services, other local employees may also be required;
  • Providing a detailed business plan and financial plan for 3 years, including the company’s strategy, expansion plans, marketing and operational approaches.
  • Having an account for storing client funds in any of the EU banks.

The regulator also needs to be provided with the company’s charter documents, details about the organizational and financial structure, management, shareholders, management and control policies, measures for preventing money laundering, risk management, description of software, and security measures.

The lawyers at SBSB have the necessary expertise to provide comprehensive legal support for obtaining a payment license in Spain.

Process and timelines for obtaining an EMI in Spain

The procedure for obtaining an EMI  in Spain is as follows:

  1. Application Submission. This can be done through the Electronic Registry of the Bank of Spain, in person, or by mail;
  2. Application Review. The regulator has 3 months to review the application and respond to the applicant, but in practice, the first list of questions usually arrives only after 3 months. There can be several rounds of questions and answers. On average, there are 3 rounds. For Small PI & Small EMI – about 20 days;
  3. License Issuance – not less than 6 months.

On average, the entire procedure for issuing an EMI license in Spain takes 12-18 months.

How to Obtain an EMI in Spain

If you want to obtain an EMI license in Spain, you will need the assistance of professional lawyers. The specialists at SBSB will help you comply with regulatory requirements and optimize the entire license acquisition process. We provide comprehensive client support, helping to avoid mistakes and ensuring a quick and high-quality license acquisition for the successful launch of your business.


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