Liaising with the regulator and revision of documents (if necessary) is done based on the applicable hourly rate.
Services Magrat
Investment firm licence
Obtain the licence for providing investment services in Estonia. Provide discretionary portfolio management and investment advisory services as a licensed Estonian investment firm.
- coordination of work with specialised legal partners for obtaining the licence
- please refer to the table below to find requirements for different types of financial licences and related costs:
Investment firm | Payment service provider | E-money institution | Provider of virtual currency services | |
Regulator | Financial Supervision Authority | Financial Supervision Authority | Financial Supervision Authority | Financial Intelligence Unit |
Possibility of EU passporting | Yes | Yes | Yes | No |
Mandatory location of seat and head office | Estonia | Estonia | Estonia | Estonia |
Minimum number of directors | Two | Two | Two | One |
Fit & Proper requirements for directors | Yes | Yes | Yes | Yes |
Fit & Proper requirements for shareholders over 10% | Yes | Yes | Yes | Yes |
Need for internal auditor | Yes | Yes | Yes | Yes |
Requirements for internal rules | Yes | Yes | Yes | Yes |
Requirements for outsourcing | Yes | Yes | Yes | No |
Minimum share capital (EUR) | 50,000–730,000 | 125 | 350 | 100,000–250,000 |
Requirements for own funds | Yes | Yes | Yes | Yes |
Requirements for safekeeping of assets | Yes | Yes | Yes | No |
Regular reporting to FSA | Yes | Yes | Yes | No |
Requirements for recording of communications | Yes | No | No | No |
FSA processing time | 2–6 months | 3–6 months | 3–6 months | 60–120 business days |
FSA processing fee (EUR) | 1 | 1 | 1 | 10 |
Indicative cost: drafting of documents other than commercial and technical documents (business plan, description of services, IT policies, etc.) and assisting in execution and filing (EUR) | 50,000–70,000 | 25,000–30,000 | 25,000–30,000 | 15,000–20,000 |
- hourly fee is charged for additional consultations over 20 minutes NB!
The decision on the licence provision is issued within 2 to 6 months.
Available for an extra fee
Liaising with the regulator and revision of documents (if necessary) is done based on the applicable hourly rate.
Included
- coordination of work with specialised legal partners for obtaining the licence
- please refer to the table below to find requirements for different types of financial licences and related costs:
Investment firm | Payment service provider | E-money institution | Provider of virtual currency services | |
Regulator | Financial Supervision Authority | Financial Supervision Authority | Financial Supervision Authority | Financial Intelligence Unit |
Possibility of EU passporting | Yes | Yes | Yes | No |
Mandatory location of seat and head office | Estonia | Estonia | Estonia | Estonia |
Minimum number of directors | Two | Two | Two | One |
Fit & Proper requirements for directors | Yes | Yes | Yes | Yes |
Fit & Proper requirements for shareholders over 10% | Yes | Yes | Yes | Yes |
Need for internal auditor | Yes | Yes | Yes | Yes |
Requirements for internal rules | Yes | Yes | Yes | Yes |
Requirements for outsourcing | Yes | Yes | Yes | No |
Minimum share capital (EUR) | 50,000–730,000 | 125 | 350 | 100,000–250,000 |
Requirements for own funds | Yes | Yes | Yes | Yes |
Requirements for safekeeping of assets | Yes | Yes | Yes | No |
Regular reporting to FSA | Yes | Yes | Yes | No |
Requirements for recording of communications | Yes | No | No | No |
FSA processing time | 2–6 months | 3–6 months | 3–6 months | 60–120 business days |
FSA processing fee (EUR) | 1 | 1 | 1 | 10 |
Indicative cost: drafting of documents other than commercial and technical documents (business plan, description of services, IT policies, etc.) and assisting in execution and filing (EUR) | 50,000–70,000 | 25,000–30,000 | 25,000–30,000 | 15,000–20,000 |
- hourly fee is charged for additional consultations over 20 minutes NB!
Timing
The decision on the licence provision is issued within 2 to 6 months.