Luxembourg is a country famous for its steady local market and opportunities for entrepreneurs. The supervisory establishment which is in charge of ruling the fiscal sector, as well as the holders of PSP permit, is CSSF. Concerning enrolled PSPs, the regulatory body has various rights regarding providers. Among these are demanding any information concerning the company, performing examinations of individuals being overseed, closing down any business that contravene the laws, etc.
This guide will cover the key information related to the subject and address any questions you might have.
The PSP license in Luxembourg requirements
To get the PSP permit, it is obligatory to give all mandatory papers to the supervisory body. Their list encompasses:
- Business-strategy for the next 3 years;
- An overview of the services to be offered and the schemes that will be implemented to deliver them;
- Details about every owner and chief;
- An outline of AML/KYC strategies;
- A profile of the shareholders, encompassing the top 20;
- Details about management team
Programs which businesses utilize have to abide by contemporary technology standards. An amount of capital usually based on the kinds of offerings provided (basically €50000).
Advantages of PSP license in Luxembourg
There are a great deal of pros from that kind of permission. Among them are:
- Strategic position amidst the key retail European centers;
- A well-developed and stable economic landscape;
- Adaptability of the local market;
- A business-friendly atmosphere and welcoming attitude to international partnerships;
- The absence of restrictions concerning oversea investment;
- Strong encouragement for startups;
- Attractive tax incentives.
Procedure for obtaining PSP license in Luxembourg
The main stages of the acquisition process are presented below:
- Arrangement of meeting between the supervisory body and the person who applies;
- Filing the request whether online or in paper form (it must encompass all necessary documentation and details);
In case of positive decision of the supervisory body, the validity of the document will not be finite.
What is included in our services
Our company provides a diversity of services to help you steer the procedure. They include:
- Establishment and authorization of enterprises globally;
- Assistance in gathering papers and sending them to the supervisory body;
- Getting all complementary permits;
- Provision of liaison with regulatory bodies;
- Support in creating accounts and integrating with payment platforms;
- Advisory services for all inquiries;
- A wide range of corporate solutions;
- Available pre-established companies and permits for purchase.
We completely understand the importance of having the proper accompaniment during the whole procedure of purchasing. This is why our team is always ready to assist you.
Taxation of PSP companies in Luxembourg
Key points concerning tax implications of PSP firms in the country:
- Obligation of reporting transaction data for payments exceeding 25 transactions;
- CESOP System collects transaction data from national tax authorities to enhance VAT compliance;
- The European Commission has provided draft FAQs, and local VAT authorities will hold information sessions to assist providers.
These aspects aim to improve oversight and reduce VAT fraud in digital payments.
How much does a PSP license cost in Luxembourg?
The price for getting a document is calculated for every customer and contingent on diverse factors, such as kind of enterprise, initial investment, and count of extra services.
Our knowledgeable specialists will give you a comprehensive cost estimate prior to beginning any work. We prioritize our customers and attempt to reduce cost as far as possible.
Our advantages
If your choice fell upon our company, you will get a diversity of pros, among which are:
- Consultation with skilled specialists;
- Streamlined process for obtaining necessary approvals;
- Provision of services aimed at personal needs of your business;
- Comprehensive assistance from document acquisition to ensuring abidance by regulatory demands;
By selecting our team, you are making a strategic decision to enhance the growth of your business. Let us help you achieve your goals with expertise and devotion.
