EMI license in Portugal

August 15, 2023
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The commerce domain is swiftly evolving with the upsurge of digital cash and virtual remittance systems. In this era of monetary innovation, EMI licenses have emerged as a pivotal enabler for offering electronic monetary alternatives. Portugal, with its progressive regulatory foundation, has positioned itself as an enticing location for commerces looking to get an EMI license in Portugal and tap into the flourishing digital finance trade.

EMI and its Benefits

An EMI is a category of financial institution that holds a special authorization permitting it to provide an array of automated monetary solutions. These solutions may encompass the establishment of digital wallets and online banks, although EMIs are not allowed to extend loans. Additionally, EMI permit holders enjoy the privilege of issuing either physical or virtual payment cards.

Advantages of EMI Portugal Licensing

Companies possessing an Electronic Money Institution license in Portugal enjoy akin rights to other monetary foundations and, in some instances, even broader opportunities. For example, legitimate entities with EMI licenses can securely hold clients’ assets for an extended period and can suggest remittance mechanisms that facilitate the effortless handling of clients’ funds, enabling transactions for labor and goods.

E-money Issuers

E-money issuers, who hold a Portugal Electronic money institution license, can carry out operations using virtual currency, which they have issued in exchange for customers’ conventional cash. These guarantors can likewise lead installments to different clients ready to acknowledge the e-cash. Critically, the backer is committed to recover the computerized  assets from the clients at any second upon their solicitation. Such computerized reserves are put away on both actual mediums, similar to shrewd cards, and in computerized media, like installment framework servers.

Acquiring authorization

The issuance of Portugal’s Electronic Money Institution permission is controlled by the EU Directive, which outlines the principles and regulations for firms granted EMI approvals. The primary regulatory body overseeing permit allocation in the region is the Bank of Portugal (Banco de Portugal, BP). Companies interested in applying for this coveted permission must meet specific demands to ensure conformity:

  • Firm Enrollment: The applicant must have an enrolled firm in Portugal.
  • Domestic Office: An operational office within Portugal’s borders is mandatory.
  • Competent Operations: The individuals in operating and controlling roles must possess relevant qualifications and experience.
  • Clean Commerce Standing: A pristine commerce reputation and verification of a lawful source of profit for the firm creators are indispensable.
  • Inner Mechanisms: Implementing inner controls, risk operation, anti-money laundering, and counter-terrorism monetary measures, together with other policies and methods.
  • Authorized Capital Transfer: Proof that authorized capital transfers meet the required lowest standards is obligatory.

Permit acquisition process

The process of getting an EMI permit in Portugal involves few steps:

  • Clearance Appeal: The applicant submits the necessary papers, involving a comprehensive 3-year commerce plan, to the Bank of Portugal.
  • Appeal Review: The controller conducts a thorough evaluation of the applicant’s capabilities and may need more papers during that phase.
  • Decision on Permit Grant: Based on the assessment, the Bank of Portugal decides whether to grant or deny the approval.
  • Preliminary Conformity Check: Once the permit is granted, the controller inspects the company’s office to ensure adherence to the demands.
  • Permit Issuance: Upon successful completion of all stages, the EMI permit is conferred to the firm.

Professional Support for EMI Licensing in Portugal

To navigate the permitting process and maximize the likelihood of success, our expert assistance comes highly recommended. We possess extensive experience in Portuguese EMI licensing and can provide comprehensive support with the preparation and submission of required papers. With our guidance, customers can expect full support and guidance throughout the entire authorization process.


The EMI permission in Portugal presents a significant opportunity for commerces looking to venture into the realm of electronic monetary services. As the world witnesses the ever-increasing importance of digital currencies and payment systems, Portugal has emerged as a forward-thinking destination, embracing EMI licensing to foster monetary growth and inclusion.

By getting an EMI permission in Portugal, firms gain proximity to a robust and dynamic market with the potential to address a growing demand for digital financial services. The permit empowers them to participate in the digital currency ecosystem, engage in transactions, and enhance financial inclusion.

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