Company formation in GB includes:
- Legal address for a year
- Сontact person for obtaining documents from the register for a year (company
secretary)
- Power of attorney (translation, notarization)
- The act of registering the company at the notary
- State duties
- Minimum 1 founder – no residency requirements
- Minimum 1 director (Can be the same person as the founder) – no residency
requirements
Payment Institution, Electronic Money Institution License
Based on the legislation, the following services are subject to licensing:
1. Opening, holding and management of payment accounts;
2. Enabling cash payments to and from payment accounts;
3. Execution of payment transactions;
4. Issue of payment instruments;
5. Money remittance;
6. Payment initiation services;
7. Account information services;
8. Operation of payment systems;
9. Issuance of electronic money.
In addition to the payment services, a payment institution has a right to provide
additional services that are closely related to provided services (i.e. ancillary services),
e.g. currency exchange.