Authorised Electronic Money Institution (AEMI) License in Latvia
Latvia’s Authorised Electronic Money Institution (AEMI) licence, issued by the Financial and Capital Market Commission (FCMC), enables firms to issue e-money, hold client funds, and provide payment services across the EU via EEA passporting. The framework operates under the Payment Services and Electronic Money Law, aligned with PSD2 and AMLD5 — established, well-documented, and recognised across all EEA member states.
Key parameters: €350,000 minimum capital (fully deposited, not available for operations), at least one EEA-resident board member, and a compliance infrastructure in Latvia. The tax structure is notably flexible — corporate tax of 20% applies only to distributed profits, with retained earnings untaxed. From scratch, the process takes 5–7 months; acquiring a ready-made entity can compress the timeline to 4–8 weeks, subject to FCMC review and ownership approval.
This page covers Latvian AEMI entities currently available for transfer, alongside a full breakdown of regulatory requirements, capital thresholds, and post-acquisition obligations.
Legasset’s tailored support covers both paths — ready-made acquisition and new licence application — including capital planning, board structuring, and FCMC liaison.
Our Ready to Buy AEMI Licenses in Latvia
AEMI License for Sale #1
- This established financial services provider currently operates with a business model focused on serving merchants in the FX brokerage, gaming, and e-commerce industries.
- The company is affiliated with CentroLink and holds SWIFT membership, enhancing its capabilities in financial transactions and communications.
- It maintains one correspondent bank for EUR transactions, which is essential for seamless international financial operations.
- The business offers IBAN services to both private and corporate customers, enabling a wide range of financial transactions.
- Additionally, it provides a white-label payment gateway, catering to clients seeking customized payment solutions.
- The company's dedicated professional team who contribute to its operations.
- Robust Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) measures are firmly in place, ensuring compliance with regulatory requirements.
- The business presently serves private customers and corporate customers, with ongoing efforts to attract potential clients.
- Notably, the company possesses permissions for Account Information Services (AIS) and Payment Initiation Services (PIS), which add value to its service offerings.
- This opportunity presents a platform for a buyer to acquire an established financial services provider with a broad range of capabilities and permissions, and explore strategies to address its financial challenges and potentially turn the business around.
Latvian EMI for Sale #2
- Ideal for fintech founders & investors seeking fast EU market entry with regulated infrastructure.
- Fully licensed EMI (since June 2024) with EU passporting potential.
- Tech stack: proprietary core banking (PuffopOS), online banking, KYC/KYB/AML tools.
- Payments: live SEPA via Magnetic & Industra; direct EKS SEPA (go-live Sep 2025) — ultra-low fees (~€0.006/transfer).
- Card issuing: VISA Principal roadmap in place.
- Network: 300+ retail points, prepaid cards & vouchers.
- Experienced C-level.
Latvia EMI License with SEPA & Core Banking System for Sale #3
- Regulated by the Latvian Central Bank
- Live EUR SEPA transactions
- Own core banking system (TSP CORE)
- Fully built client dashboard
- Integrated SumSub for KYC/KYB & AML
- Operational & safeguarded accounts at Magnetic Bank and Industra Bank
- SEPA Own Rails via EKS — €0.006 per transaction (ultra-low cost)
- VISA Principal Membership in progress (card issuing potential)
- Full team of 6, incl. CEO, COO, CTO, CCO — available to stay
Related e-money licences available for transfer
Key Takeaways for AEMI License in Latvia
- Passporting across the EEA. This license lets firms operate in all EU/EEA countries under PSD2 without needing local approval.
- €350,000 minimum capital required. This sum must be fully deposited and cannot be used for operations.
- Corporate tax applies only to distributions. Latvia taxes profits at 20% only when they’re paid out, allowing reinvestment flexibility.
- Realistic setup time is 5–7 months. Buying a ready-made licensed company cuts this to 4-8 weeks for ownership transfer.
- MiCA does not apply. This is an e-money license, not a crypto license, so CASP transition rules are irrelevant.
- Banking access is still limited. Direct SEPA connection is rare for new AEMIs – many rely on EMI intermediaries or third-party PSPs.
- Post-license costs exceed €15,000 annually. Firms must appoint resident directors, maintain AML compliance, and submit regular FCMC filings.
- Legasset offers full-scope assistance. We help acquire or apply for an AEMI license, covering structure, staffing, compliance, and FCMC engagement.
What You Need to Know About the AEMI License in Latvia
Table of Contents
An Authorised Electronic Money Institution (AEMI) license in Latvia allows companies to issue electronic money and offer payment services across the European Economic Area. It’s a powerful license under Directive 2009/110/EC and Directive (EU) 2015/2366, enabling services such as e-wallets, prepaid card infrastructure, account issuance, and domestic or cross-border money remittance.
This license is suited for businesses that:
- Want to operate in the EU under full passporting rights
- Provide fiat-based services with no crypto involvement
- Require a cost-effective, lightly taxed operational base
Latvia’s AEMI regime comes with real obligations. Companies must implement full AML/CFT policies, appoint experienced resident management, maintain €350,000 in capital, and safeguard client funds via segregated accounts.
Key limitations include:
- Crypto activities require separate registration as a CASP under MiCA
- Regulatory oversight is intense – particularly around compliance, governance, and financial reporting
- Direct banking access may be limited without a proven compliance history
With MiCA enforced from June 2024, fiat-only EMIs remain under PSD2/EMD2. This makes the Latvian AEMI license an attractive route for firms focusing strictly on e-money and payment services, without needing immediate MiCA onboarding.
Regulatory Framework and Governing Body
The Latvian Financial and Capital Market Commission (FCMC) supervises e-money institutions. It enforces national legislation aligned with EU directives, including:
- the Electronic Money Law
- the Payment Services Law
- the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing
You can verify requirements and laws via the FCMC official site.
Latvia’s tax regime remains competitive: 20% corporate tax is paid only on distributed profits, while retained earnings are untaxed. No specific e-money tax applies, and Latvia holds over 60 active double taxation treaties.
Legasset assists clients with both options: acquiring a ready-made AEMI in Latvia or applying from scratch. We guide you through capital planning, compliance setup, board structuring, and regulator communication.
MiCA and Crypto Services
MiCA does not affect standard AEMI operations in Latvia. However, if a licensed AEMI intends to offer crypto-asset services – such as custody, exchange, or token issuance – it must obtain separate CASP authorization under MiCA. Latvia’s FCMC has introduced a fast-track process to support this transition, but dual licensing is required.
Eligibility Requirements for Obtaining an AEMI License in Latvia
To obtain an Authorised Electronic Money Institution (AEMI) license in Latvia, applicants must meet strict regulatory, financial, and governance standards set by the Financial and Capital Market Commission (FCMC). The process is designed to assess not only structural readiness but also long-term compliance capability.
Who Can Apply and Business Structure Requirements
Applicants must establish a Latvian private limited company (SIA) or a joint-stock company (AS). The entity must have a clear, transparent ownership structure, with all Ultimate Beneficial Owners (UBOs) fully disclosed. There are no restrictions on foreign ownership, but at least one board member must be a Latvian or EEA resident.
Key personnel, including directors and compliance officers, must have documented experience in financial services, payments, or e-money. The FCMC conducts fit-and-proper checks covering professional qualifications, financial history, and criminal records.
Capital and Financial Obligations
AEMI applicants must deposit a minimum capital of €350,000 before applying. The funds must remain unencumbered and fully available at all times, with proof submitted to the FCMC. These funds cannot be used for operational expenses and must be held in a segregated account.
Beyond initial capital, firms must budget for:
- Ongoing audit and reporting costs
- Mandatory AML/KYC systems
- Local staffing and office expenses
Local Presence and Compliance Oversight
Applicants must:
- Maintain a physical office in Latvia
- Appoint a resident board member
- Hire a qualified AML officer, resident in Latvia or another EEA jurisdiction
Regular audits and filings with the FCMC and the Financial Intelligence Unit (FIU) are required. Companies must also demonstrate readiness to implement safeguarding measures, including ring-fencing of client funds.
Required Documentation and Application Timeline
The application must include:
- Company incorporation documents
- Shareholder and UBO register
- AML/CFT policies and internal controls
- Financial projections (3 years)
- Proof of capital deposit
- Resumes and certificates of directors and key personnel
All documents must be in Latvian or accompanied by official translations. Some materials require notarization and apostille depending on country of origin.
Approval typically takes 5 to 7 months. However, delays can occur due to incomplete submissions or AML vetting issues.
Common Challenges and Practical Solutions
Many applicants struggle with:
- Banking access: Latvian banks require strong internal controls and clear business models. Firms often start with EU-based EMI accounts until local onboarding is feasible.
- Compliance staffing: The FCMC expects experienced compliance personnel – Legasset assists in recruiting locally qualified directors and AML officers.
Documentation gaps: Missing or poorly translated documents can delay approval – our team provides full application review and localization support.
Pros & Cons of Acquiring a Latvian AEMI License
+ EU-wide payment access. The Latvian AEMI license grants full passporting rights across the European Economic Area under PSD2.
+ Reasonable capital threshold. The €350,000 initial capital requirement is lower than Ireland (€500,000) or France (€500,000), easing entry barriers.
+ Strong regulatory reputation. Latvia is supervised by the Financial and Capital Market Commission (FCMC), an established EEA authority recognized across the EU.
+ Fast-track licensing for experienced firms. Companies with prior EMI or PSP licensing history may qualify for accelerated FCMC approval timelines.
+ Low corporate tax rate. Latvia applies a 0% tax on reinvested profits and 20% only when dividends are distributed.
+ Legasset’s ready-made companies include verified compliance staff. This reduces recruitment risk and speeds up launch timelines.
– Strict AML scrutiny. Latvia applies enhanced due diligence and transaction monitoring, especially for firms serving non-EU clients.
– Banking remains challenging. Traditional Latvian banks rarely onboard EMIs – firms often rely on EMI settlement partners or EU-wide fintech institutions.
– FCMC demands local presence. Firms must maintain a Latvian office and appoint at least one resident director or MLRO.
– Limited crypto tolerance. The AEMI license does not cover crypto services – firms must apply separately for CASP registration under MiCA.
How to Get an AEMI License in Latvia
Businesses can either purchase a ready-made AEMI-licensed company or apply for a new license from scratch. Legasset supports both options – whether you need fast market entry through acquisition or full-cycle assistance with regulatory filings, staffing, and compliance structuring for a new application.
For those seeking quicker deployment, a ready-made Latvian AEMI company offers an operational shortcut. These entities come with a valid license and corporate structure, but still require ownership updates, MLRO changes, and regulator re-approval before operations can begin – typically adding 1.5 to 2 months. We assist with due diligence, director onboarding, and regulatory liaison throughout.
Step-by-Step AEMI Licensing Process in Latvia
- Step 1: Entity registration and pre-licensing setup 2-3 weeks
Establish a Latvian SIA (LLC) and open a temporary account for share capital. Corporate documents must be aligned with Financial and Capital Market Commission (FCMC) standards.
Key Documents: articles of association, UBO declarations, director CVs, AML policies (draft).
Estimated Cost: €7,000–€10,000. - Step 2: AML and governance appointments 2-4 weeks
Appoint a local MLRO and key management personnel. All directors must meet fit-and-proper criteria and show relevant financial or compliance experience.
Key Documents: proof of experience, diplomas, background checks.
Estimated Cost: €3,000–€7,000+ (depends on candidate sourcing). - Step 3: Bank account and capital deposit 3-6 weeks
Deposit the €350,000 minimum capital with a Latvian credit institution. Capital must remain untouched and verifiable during licensing.
Key Documents: bank confirmation, capital source declaration.
Estimated Cost: €350,000 (not an expense, remains on company account). - Step 4: License application submission 6–8 months
Submit the complete application to the FCMC, including business plan, internal control procedures, AML program, and IT security framework.
Key Documents: AML manual, risk assessment, financial forecasts.
Estimated Cost: €10,000–€15,000 (legal, translation, advisory fees). - Step 5: Post-approval setup and reporting Ongoing
After approval, activate business operations, onboard technical providers (e.g. core banking, KYC), and submit recurring reports to the FCMC.
Key Documents: onboarding logs, monthly reports, audit preparation.
Estimated Cost: €5,000–€15,000 annually (compliance and audit fees).
Timeframes at a Glance
- Total estimated cost (excluding capital): €25,000–€47,000
- Realistic licensing timeline (new application): 8–10 months from initiation to final approval
- Ready-made license transfer timeframe: ~6–9 weeks, depending on FCMC review and director change approvals
Post-Licensing Compliance Obligations for AEMI License Holders in Latvia
Obtaining an AEMI license in Latvia is only the first step – ongoing regulatory compliance is mandatory to maintain operational status and avoid enforcement action. The Financial and Capital Market Commission (FCMC) applies strict oversight to all AEMI institutions, with regular audits, filings, and inspections.
Failure to meet these obligations may result in fines, license suspension, or full revocation. While Latvia does not currently apply MiCA to e-money institutions, indirect exposure may occur if crypto services are introduced under the AEMI structure.
Key Ongoing Requirements for Latvian AEMIs
- AML and KYC Compliance: Firms must conduct enhanced customer due diligence, screen transactions, monitor for suspicious activity, and report to the Financial Intelligence Unit (FIU Latvia). Policies must be updated regularly to align with evolving FATF and EU AML standards.
- Audits and Reporting: Annual financial audits by an independent certified auditor are mandatory. Quarterly reports on operational performance, governance, and safeguarding of client funds must be filed with the FCMC.
- Taxation and Accounting: AEMIs are subject to Latvia’s 20% corporate tax on distributed profits and must maintain a licensed accountant or firm to handle VAT, payroll, and statutory filings. All records must be stored and accessible in Latvia.
- Renewal and Structural Changes: While the license itself does not expire, any changes to shareholders, directors, UBO structure, or business scope must be approved by the FCMC. Failure to notify can trigger compliance audits or sanctions.
How Legasset Helps You Stay Compliant
Legasset provides continuous support for Latvian AEMIs, including:
- Ongoing compliance audits and AML/KYC updates
- Coordination of financial reporting and auditor communication
- Management of FCMC notifications for governance or business changes
- Post-license advisory for firms adding crypto or MiCA-relevant services
We don’t just help you get licensed – we help ensure you stay that way.
Common Pitfalls and Challenges of Operating Under an AEMI License in Latvia
Latvia’s Authorised Electronic Money Institution (AEMI) license offers clear advantages: low corporate tax, EU-wide passporting, and a streamlined licensing framework. But real-world operations come with challenges that, if ignored, can stall launches, drain resources, or limit strategic growth.
1. Limited Banking Access
Even with full EU authorization, many banks remain cautious toward AEMIs, especially those handling crypto or cross-border flows. Latvian AEMIs often rely on:
- SEPA partners in more crypto-friendly EU states.
- EMI corridors and PI (Payment Institution) accounts outside Latvia.
✔ Legasset’s Solution: we help secure trusted banking partners, optimize settlement structures, and navigate cross-border payment routes to avoid service bottlenecks.
2. Heavy Ongoing Compliance
The Financial and Capital Market Commission (FCMC) demands:
- Quarterly financial and operational reports.
- Full annual audits.
- Stringent AML/CTF reviews and director-level accountability.
Firms without local compliance teams often depend on consultants, driving up annual costs.
✔ Legasset’s Solution: we set up internal compliance frameworks, recruit vetted Latvian specialists, and manage recurring regulatory obligations to keep operations smooth.
3. Resident Board Member Requirement
At least one Latvian-resident director with financial experience is mandatory. Identifying, vetting, and onboarding qualified individuals can delay launch timelines and increase initial payroll commitments.
✔ Legasset’s Solution: we source eligible local directors, handle all fit-and-proper documentation, and integrate them seamlessly into your governance structure.
4. Crypto Activities Trigger MiCA Obligations
While AEMIs can handle fiat payments, adding crypto services (e.g., token issuance, wallet custody) requires separate CASP authorization under MiCA:
- €125,000–€150,000 capital minimum.
- Dedicated local compliance and AML teams.
- Separate licensing and reporting under EU law.
✔ Legasset’s Solution: we map out crypto expansion strategies, prepare CASP applications, and align your business for seamless multi-license operations.
Frequently Asked Questions About Purchasing an AEMI License in Latvia
What does a Latvian AEMI license allow you to do?
A licensed Authorised Electronic Money Institution (AEMI) in Latvia can issue e-money, provide fiat payment services, and offer SEPA accounts across the EU. The license grants passporting rights under PSD2, allowing operations in all EEA countries. However, crypto-related activities are excluded unless the firm also secures CASP authorization under MiCA.
What are the capital and staffing requirements?
Applicants must maintain €350,000 in initial capital and appoint at least two board members, one of whom must be a Latvian resident with proven financial or regulatory experience. The company must also have a physical office in Latvia and hire a qualified compliance officer.
How long does it take to obtain the AEMI license in Latvia or transfer ownership of a ready-made AEMI?
New license applications take around 6 to 8 months from submission to approval. Ready-made AEMI transfers (if available) can be completed faster – typically within 4 to 6 weeks – but still require regulatory approval and board reappointments.
Can I offer crypto services with this license?
Not by default. The AEMI license does not cover crypto custody, exchange, or token issuance. For that, you must apply separately for CASP authorization under MiCA. The MiCA deadline for CASP registration is 30 June 2025, and Latvia’s regulator – the Financial and Capital Market Commission (FCMC) – handles both processes.
What are the ongoing compliance obligations?
Licensed AEMIs must submit quarterly reports, undergo annual audits, and implement demanding AML/KYC systems. Regulatory filings with the FCMC and FIU Latvia are mandatory, and non-compliance can lead to license suspension or fines.
How can Legasset help me acquire and use a Latvian AEMI license?
We assist with both acquiring ready-made AEMIs and applying from scratch. Our support includes entity setup, capitalization planning, board member recruitment, and regulatory communication. If your business plans include crypto, we also handle MiCA-compliant CASP applications, helping clients secure both licenses in parallel or in stages.
Additional Links and Resources for AEMI License in Latvia
The FCMC is Latvia’s financial regulator overseeing AEMI licensing, ongoing supervision, and enforcement actions. This site provides up-to-date regulatory requirements, licensing criteria, and official publications.
II. Law on Payment Services and Electronic Money
The official legal framework governing e-money institutions in Latvia, including capital requirements, permitted services, and supervisory powers.
III. EU MiCA Regulation (2023/1114)
This regulation sets out licensing and compliance requirements for crypto-asset service providers across the EU. Applicable to firms seeking CASP status in Latvia post-June 2025.
IV. State Revenue Service of Latvia (VID)
The VID handles corporate tax, VAT, and e-reporting obligations for Latvian companies, including AEMIs. Visit this site to understand financial reporting and tax compliance responsibilities.
