Money services license in UK

Published:
June 6, 2023
london eye with river thames

The global economy must be able to assign money`s abroad. Such services have permanently been popular, but they are particularly in demand in countrysides with stable economies and good earning opportunities. This includes the UK, where billions of dollars are transferred abroad every year.

To furnish such money-transactions, you ought services that will furnish such opportunities. They ought a Money-Services Business License to make transfers legally. Without such a license, the actual transfers will be assessed money-laundering.

Getting a Money services license in UK is not very easy. But many entrepreneurs strive to occupy a niche in this market and develop their money transfer system. There are many further kinds of licenses in the UK legislation and co-founders of corporations need to apprehend which permissions are suitable for the operations they ought.

What operations require an MSB license in UK

Before launching the Money Services Business registration in UK, corporate representatives actively study the market and find out what conditions need to be met to start their work. They assess the risks of setting up such a business, the opportunities that can be obtained through MSB in UK, and the costs of the process. But it is extremely important to understand the local legislation and know what kind`s of permission to apply for.

MSB license is most often issued for legal entities that are engaged in:

  • exchange of foreign currencies;
  • providing money transfers;
  • cashing checks that are payable to consumers.

The above-mentioned services can be provided exactly with this appointment. In this case, it is not necessary to obtain the status of more highly-rated and expensive licenses such as EMI or PI. However, for more complex transactions or if you want to work with expenditure for goods or assistance in e-commerce, companies will have to buy licenses with broader credentials.

System for acquiring a license

Only an already registered company can get an MSB license in UK. Therefore, representatives of new corporations ought to prepare in advance and collect a package of documents for the registration of a legal entity. Once the data about your company appears in the state registers, you can start the procedure of obtaining this permission. This process takes place in several stages:

  • a preparatory stage, during which the potential licensee is consulted by representatives of the regulator and informed of what documents he will furnish (to collect the necessary documents, you can use both your employees, or contact our experts);
  • creation of bank accounts with minimum funds to start up and cover all necessary expenses;
  • enrollment on the platform FCA Connect (this is a unified UK portal, where you can follow the processing of all your license applications online and communicate with representatives of the regulator through a special chat room);
  • filling out the application for the selected license (in addition to the app`s potential licensees need to attach all the docs that they were told at the meeting by representatives of the regulator (including information about the owners and leaders of the company, info about the current financial situation, etc.);
  • payment of the application fee (from £500) and providing a bank statement as proof of payment.

After the corporation has sent all the necessary documents and paid the appropriate fees, the process of checking the application by representatives of the regulator. These officials can reject the application, approve it, or send it back for revision. The first stage of verification can take place in a time frame of 3 months to a year. If adjustments need to be made, the process can take longer.

Who can help with processing

The process of Obtaining an MSB license in UK can vary greatly in timing for different companies. You can miss out on millions of pounds during the paperwork process. That is why corporations must put together the right package of documents and get their license as quickly as possible.

We can help you achieve this goal. Our employees specialize in legal issues that may arise during the execution of documentation. Each of our managers has created such applications many times, so we know exactly what a perfect application for a British regulator should look like.

We can also tell you right away what kind of license you will implement for your corporation, and you will immediately apprehend what documents you will need to submit to the regulator. We also support our client’s applications up to the stage of full confirmation of the license issuance by the regulator.

With us, you will be several months ahead of your competitors because while they will be fixing the documents, you will already be making money thanks to the earlier receipt of the permit. You can contact our specialist in any way convenient for you.

How do I register a money service business in the UK?

It is critical to register a new legal-entity and acquire permission from the local regulator.

What is the money services business UK?

This is an interchange in the interaction of furnishing money-transfer kindnesses between individuals, companies, and mixed operations. To operate fully in the UK, you need to obtain the appropriate license from the local regulator and only then will you be able to make money.

Related insights

How to Choose the Right Country for Commercial Real Estate Investment

Overseas real estate investments are very profitable. However, the earnings from such investments depend on many factors. You need a complete comprehension of the local market, from economic trends and rental earnings to legal red tape and long-term development potential. This is a breakdown of what really counts before plunging in. Comprehending the Economy and…

Read more 14.07.2025

Top 5 Countries with the Highest Rental Yields for Property Investors

Being an investor in the real estate sphere, the rental yield would be one of the key parameters in defining the best of the lot. It indicates a property’s ability in earning an income for one fiscal year in relation to its value. In 2025, there are some countries that have super impressive rental yields,…

Read more 14.07.2025

Why Investing in Overseas Real Estate Still Makes Sense in 2025

Diversifying assets overseas through real estate acquisition still seems like a fantastic strategy for the future, even in today’s world full of fluctuating economies and global uncertainty. Apart from probably good financial returns, it delivers a couple of lifestyle benefits and global security that other investments fail to meet. Here is why it is still…

Read more 11.07.2025

Buying a Hotel Business: Pros, Cons, and Pitfalls

Investing in a hotel can be a fascinating chance to start a new business. Hotels aren’t just places to stay—they’re where people make special memories. But buying a hotel for sale isn’t just about signing papers. There are many things to think about to make sure it’s a good decision. In this article, you’ll learn…

Read more 07.07.2025

Checklist: How to Safely Buy Property Abroad

Are you dreaming about acquiring new real estate? It is a very responsible step which requires a lot of careful stages. Sometimes it can be really complex, but the result you get is always pleasing. Purchasing housing in another country can be a more complicated process than in your home nation. That’s what we’ll discuss…

Read more 07.07.2025

Which Types of Commercial Properties Are the Easiest to Rent Out?

If you’re mulling over putting your money into real estate, one of the first things to take into account is how easy it will be to find tenants. Some types of properties rent out faster because more businesses need those kinds of spaces. Here, we’ll look at some of the property types that usually lease…

Read more 07.07.2025

Top 10 Gambling Friendly Countries in 2025

It is 2025 and wagering is mainstream, cross-continental, and more supervised than ever. Whether you’re launching a new casino brand, scaling your sportsbook, or acquiring an iGaming start-up, location still matters. The following nations are leading the way — balancing opportunity and oversight, innovation and accountability. That’s where the legal money’s heading. This year, interest…

Read more 07.07.2025

Hotel chains: recognizable brands, guaranteed income

Investing in hotel brands is an investment in stability. Well-known chains guarantee quality of service and recognition. Wherever the hotel is located, the standards of service will remain at the top. For regular guests it means bonuses and privileges, and for the investor it means stable income. Hotel rooms with guaranteed rent in Izmir This…

Read more 24.06.2025

Gambling license on the Isle of Man

Fewer than 60 active entities presently run through valid Isle of Man gambling license credential. The scarcity stems due to territory’s tight supervisory approach. Still, using evolving measures rolled out by Isle of Man Isle of Man Gambling Control Board, cross-border expansion now appears more achievable for international gaming operators. “Reliability has long anchored this…

Read more 24.06.2025

Investment opportunities in Dubai 2025

The scene presents you in Dubai with the massive Burj Khalifa standing tall in front of you while its lights shine bright against the dark nighttime background. I traveled there before and the city delivered a strong positive impact on me. Through the 2033 Economic Agenda D33 aims to expand Dubai’s economy to twice its…

Read more 19.06.2025

Kahnawake Gambling license

Not so big share of gamble firms keeps Kahnawake gambling license, partly because the jurisdiction hasn’t always drawn the spotlight like Curacao or Malta. But recent shifts by local Commission are starting to alter it, with specific professional consultants mentioning clearer terms, lower practical burdens, and growing interest from digital casino platforms. “It’s tailored more…

Read more 17.06.2025

Malta Gambling License

The gamble market is booming, and picking the right permit can make or break your venture. Some operators choose speed and low upfront costs, while others value long-term trust and reach. The Malta permit stands out for its solid reputation and comprehensive market access. Submission rate barely 30 for Malta gaming license 2025, despite Malta…

Read more 17.06.2025