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Licensing

Obtaining a license for a financial institution in Poland or any other member state of the European Union or European Economic Area opens up avenues for business expansion, allowing the provision of services across the entire EU. Leveraging the advantages of the EU’s largest Common Market, 3DOTS specializes in licensing financial institutions and Fintech companies offering financial services within Poland and throughout the EU.

Our service involves a structured approach, consisting of the following steps:

1. Analyzing your current situation to understand any potential risks and opportunities.

2. Developing a detailed action plan, including decisions on jurisdiction and the type of license required.

3. Gathering and organizing all necessary documents and forms needed for the licensing process.

4. Representing you before state authorities and licensing committees, ensuring smooth interactions and addressing any inquiries or concerns.

5. Providing continuous guidance and assistance throughout the entire process of obtaining the license, offering advice even after its completion to ensure your ongoing compliance and success.

Licenses for regulated activities

Financial Services

A banking license serves as a formal confirmation that a bank has diligently fulfilled all legal obligations concerning the safeguarding of customers’ funds and information. It provides reassurance that the chosen institution prioritizes safety and security.
Obtaining a banking license signifies that a financial entity complies with stringent government regulations. Only entities possessing this license are entitled to be referred to as banks.

To acquire a banking license, an institution must satisfy a rigorous set of criteria. This includes maintaining sufficient financial reserves and implementing strict data security measures.

Obtaining a banking license is challenging, but our support guarantees a smooth process tailored to your business needs.

  • A VASP license, granted by a regulatory authority, authorizes a Virtual Asset Service Provider (VASP) to offer services related to virtual assets. This license ensures that the VASP operates in adherence to legal and regulatory standards, including measures against money laundering and terrorism financing.
  • VASPs are usually mandated to implement robust Know Your Customer (KYC) procedures and transaction monitoring protocols, alongside conducting regular audits and maintaining comprehensive transaction records.

Beyond regulatory adherence, securing a VASP license can bolster a provider’s credibility and integrity in the eyes of customers and investors. It signifies a commitment to transparency, security, and adherence to legal and ethical norms.

  • The Second Payment Services Directive (PSD2), an EU Regulation, seeks to standardize payment services within the European Economic Area (EEA). It aims to foster competition by establishing equal opportunities for banks and non-banks. PSD2 eliminates banks’ exclusive access to customer data, permitting other entities to utilize it with customer consent.
  • PSD2 mandates stricter customer authentication for various online transactions, including high-value and recurring payments.

Gambling Industry

  • An online gambling license is an official authorization granted by relevant legislative authorities or jurisdictions, allowing operators to legally offer and earn commissions from online gambling activities. This license confers legal status upon gambling companies, subjecting them to regulatory oversight and industry standards.
  • Obtaining a gambling license is mandatory for operators to operate lawfully. It serves as a hallmark of reputation and credibility, facilitating partnerships with B2B providers and players, mitigating legal risks, and opening doors for collaboration with software developers.

Financial Technologies

  • The European guidelines for European collective funding service providers (ECSP) aim to establish a unified framework across the European Union. Covering operational standards, authorization, supervision, and safeguarding investor interests, these regulations seek to ensure a strong level of investor protection. Additionally, they aim to simplify the process for collective funding platforms to expand their services seamlessly across the EU.
  • The regulation of collective funding prospects depends on the jurisdiction and the nature of social funding involved. Oversight may include determining eligibility criteria for seeking funds, contributor qualifications, fundraising limits, and the permissible use of raised funds. It is crucial to have a thorough understanding of location-specific regulations before embarking on any collective funding initiative.
  • Licensing e-commerce platforms, under regulations like the Digital Markets Act (DMA), Digital Services Act (DSA), and Digital Governance Act (DGA), is essential for ensuring compliance with evolving legal frameworks. These regulations aim to address issues such as market dominance, consumer protection, and data privacy in the digital sphere. Obtaining licenses under these acts allows e-commerce platforms to operate legally while upholding standards of fairness, transparency, and accountability in their services. Compliance with DMA, DSA, and DGA requirements is crucial for fostering a trustworthy and competitive digital market environment.

Other Financial Services

  • The KIP license is the standard for conducting non-banking payment operations in Poland, while the KIPE license offers broader business opportunities but requires more significant capital investment. Our Legal’s expertise in licensing procedures ensures efficient navigation through the complex application process, minimizing errors and maximizing the chances of success. Despite its advantages, obtaining a KIPE license in Poland is often challenging due to regulatory constraints, leading many non-banking payment entities to opt for the more accessible KIP license.
  • Licensing MIP serves as the initial step in the payment sector, offering a versatile license for regulated payment businesses with minimal regulatory requirements and swift KNF processing. We provide reliable solutions, ensuring a smooth licensing process, while MIP allows operation within Poland, with the possibility of transitioning into a KIP after exceeding transaction limits.

Artificial Intelligence and Cryptocurrencies

  • The emergence of regulated institutions engaging in the issuance, trading, and services related to crypto-assets is becoming a reality. The Markets in Crypto-Assets Regulation (MiCA) aims to address regulatory challenges and establish mechanisms for legal activities in the crypto space. Compliance with MiCA regulations will necessitate obtaining permits for public offerings and approval for trading asset-referenced tokens (ART) and for Crypto-Asset Service Providers (CASP). We offer advisory services for obtaining licenses for ART issuers and CASP service providers, covering essential details such as offered services, transaction limits, cross-border operations, and capital requirements.

If you are interested in our licencing service, tailored to your business needs, don’t hesitate to

contact us!
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