If you choose to adopt the Small EMI business model the following requirements will apply:
- Particulars of the electronic money or payment services business you will carry out
- Governance arrangements and internal procedures
- Information regarding how capital requirements, if any, will be met (for further information, see the FSA website)
- If applicable, details of the persons accountable for the administration of the electronic money and/or payment services business
- Proof/confirmation that your total business activities, directly prior to registration, produce an average outstanding electronic money that does not surpass €5 million
- Proof that the monthly average of the total amount of payment service transactions (non e-money related) in the 12 months prior to the application, does not exceed €3 million
- A description of how electronic money holders’ funds will be safeguard