Obtaining a financial license in the Czech Republic

The work of a financial organization in Europe requires compliance with the requirements established in the European Union, as well as obtaining a permit from the Czech National Bank.

Obtaining a financial license in the Czech Republic is carried out once, at the very beginning of work, since the permit itself is issued on an indefinite basis. An entrepreneur who receives such a license immediately after registration will be able to perform all operations specified in the list of permitted activities.

Employees of the E-COMMERCE BROKER Company will help prepare documentation for applying for a license to the National Bank of the Czech Republic and will explain the nuances of conducting financial activities in the country.

Requirements for a licensed business

Before contacting the National Bank of the Czech Republic, an entrepreneur should check compliance with the requirements, and first of all, with respect to the authorized capital as a guarantee of covering any risks. The minimum allowable amount of capital is calculated using a special formula and does not have a single value.

The initial authorized capital refers to the paid-up capital after deducting repurchased shares, including forward contracts and options thereon. The authorized capital includes reserve funds and retained earnings less accumulated losses.

Availability of the required amount as authorized capital is the key to successful licensing. E-COMMERCE BROKER employees will help you correctly calculate the amount of capital for a new organization that has not yet accumulated sufficient reporting to determine the minimum allowable amount.

For a starting business, the amount of authorized capital is calculated as a tenth of overhead costs for the reporting period. Since there is no fixed value for capital, you need to be prepared for possible adjustments according to the requirements of the National Bank of the Czech Republic.

Additional requirements for a business to obtain a financial license from the Czech National Bank include:

  1. Accounting and risk management.
  2. Transformation of the management system so that the license covers all areas of activity.
  3. The management system must include measures to combat money laundering and terrorist financing.
  4. Availability of an up-to-date, currently adjusted business strategy.

Documentation for issuing a license

With application for a license A fairly long list of documentation is submitted to the National Bank:

  • general information about the company;
  • document confirming the registration of the enterprise (certificate);
  • confirmation of the origin of the first capital and financial assets;
  • certificate of contribution of authorized capital (from the bank);
  • financial statements (if any);
  • business plan;
  • information on company management regarding transaction security;
  • explanations about the individual payment service;
  • information about hired employees;
  • description of the technical execution of certain actions;
  • parameters of the accounting system, financial reporting, control system.

Additionally, questionnaire No. 2, a certificate of qualification degree, a document confirming the professional suitability of the manager and other forms as required by the Czech National Bank are prepared for managers.

Features of financial licensing in the Czech Republic

Procedure issuing a license in the Czech Republic quite complicated. When preparing documents, you need to be well versed in the legal nuances of the Czech Republic and know the standards for preparing documents.

E-COMMERCE BROKER employees will help you collect the necessary documentation in a short time and explain the nuances of interaction with the Czech regulatory authority.

In addition to individual consulting, E-COMMERCE BROKER specialists will help prepare a company business plan, draw up an AML policy, describe the structure of the organization, collect all the necessary certificates in strict accordance with the requirements of the Czech regulator when obtaining a financial license.


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