An Electronic Money Institution (EMI) licence allows companies to issue digital wallets, prepaid cards, and e-money—powering secure transactions while safeguarding customer funds. Below, we break down key requirements, costs, and timelines across major jurisdictions.
📌 Quick Comparison: EMI Licensing at a Glance
(Ideal for executives short on time)
| Feature | UK (FCA) | UAE (DFSA/ADGM) | EU/EEA |
| Licence Authority | FCA | DFSA, FSRA, or CBUAE | National (e.g., BaFin) |
| Passporting Rights | ❌ (Post-Brexit) | ❌ (GCC access possible) | ✅ (Full EEA under PSD2) |
| Minimum Capital | €350K (AEMI) or 2% float | $200K–$700K | €350K or 2% of volume |
| Application Fee | £5K–£15K | Varies by regulator | €5K–€25K |
| Approval Time | 9–15 months | 3–12 months | 9–12 months |
| Local Staff Required? | Yes (5+ key roles) | Yes (resident directors) | Yes (local office) |
🔍 Key Takeaway:
- UK = Stability but no EU access.
- UAE = Faster but fragmented regulation.
- EU = Best for EEA-wide expansion.
💰 Capital Requirements Breakdown
| Licence Type | Minimum Capital | Where It Applies |
| Small EMI (SEMI) | €50K–€100K | UK, EU (2% of float) |
| Authorised EMI (AEMI) | €350K | UK, EU (fixed) |
| UAE SVF Issuer | $200K–$700K | DFSA/ADGM/CBUAE |
⚠️ Reality Check: Regulators often expect higher capital for complex business models.
🌍 Market Access Heatmap
(Where should you license?)
| Factor | UK 🇬🇧 | UAE 🇦🇪 | EU 🇪🇺 |
| Fintech Ecosystem | ⭐⭐⭐⭐ | ⭐⭐⭐ | ⭐⭐⭐⭐ |
| Speed to Licence | ⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐ |
| Passporting Power | ❌ | ❌ | ⭐⭐⭐⭐⭐ |
| Regulatory Clarity | ⭐⭐⭐⭐⭐ | ⭐⭐⭐ | ⭐⭐⭐⭐ |
⭐ = Rating (1–5)
- EU wins for scalability, UAE for speed, UK for credibility.
🚀 Future Trends Impacting EMIs
- PSD3 & MiCA (2025–26): Tighter EU crypto/e-money rules.
- AI Compliance Tools: Automating AML/KYC for faster approvals.
- CBDCs: Central banks may require EMI integration.
🎯 FTN.money’s Recommendation
- Targeting Europe? Get an EU licence (Lithuania/Portugal are popular).
- Focusing on MENA? UAE’s ADGM offers the fastest path.
- UK-Only? Strong brand but prepare for Brexit hurdles.
Need help? Book a consultation with our fintech licensing experts → Contact FTN.money.
(Sources: FCA, DFSA, ADGM, ECB, FTN.money research)
