Licensed forex broker – Czech FX brokerage

Starting up a forex business or extending your portfolio in Central Europe or looking for a reputable jurisdiction within the EU? That’s exactly what Czech Republic will give you! Just contact Aniva Consulting and you can sit back and let us make it happen!

All you need to do is decide if you want to open a STP (straight-through processing) type of brokerage (also called A-book) where the minimum capital requirement is €125,000 for a license or a market-making type of brokerage (commonly referred to as B-book broker) where the minimum capital is €730,000. With a B-book brokerage license your forex broker will be able to act as a counterparty to your client’s trades.

Unsure which to choose or require some advice? Contact us at Aniva Consulting, the experts in the industry. We’ll be glad to provide you with the needed advice and assist you to successfully obtain a Czech Forex Brokerage licence.

We offer packages for Czech FX Brokerage setup where you would like to take the full package, we’re open to very friendly discounts. Below are the steps involved in setting up a forex brokerage in Czech Republic:

1. Registration of a company;
2. Set-up a corporate bank account – necessary for the purpose of depositing the minimum capital and subsequently for operational use;
3. Local Office – rental may vary from €1,500 to €2,500. The size and cost of rental is entirely dependent on your intended business size and scale of operations;
4. Website – we are able to assist you with purchasing a domain name, server space, logo and design layout, SEO, etc. The cost of website development will vary depending on your requirements, zone and scope of service required;
5. Client zone – you may invest into your own zone or solve this problem efficiently with us through our providers (possible in a package with liquidity provision and trading platform for a discount)
6. Forex trading software – you may choose from a variety of software, however, the most popular remains MetaTrader, TradeStation, NinjaTrader etc. Also, the model plays a role, you have the option to have a direct contract with them or you might rather use a white label solution through an existing license (possible in a package with liquidity provision). We would recommend not to stick with only a single platform, although MetaTrader is seriously a must these days in order to be able to compete in the market.
7. Liquidity provision – we have already few tested and reliable liquidity providers that are prepared to assist with the provision of liquidity to ensure you can offer an extensive variety of instruments to your traders (this may come in a bundle together with client zone and trading platform(s))
8. Marketing – very useful option to order marketing services from professionals who can design a marketing strategy and program from the scratch. Services include an initial analysis, market research or setup of full strategy and approach. If you feel, you need to touch the market with professionals only for an initial period of time, it’s always possible to hire an existing team only for a certain period of time or maintain an outsourcing contract with us for an unlimited period of time (here, naturally, loyalty brings discounts)
9. Headhunting – in the event you need professionals in the area of forex trading, including finding those with certifications, forex trading license (e.g. portfolio managers) or education, or having sufficient experiences (regardless on education and formal demonstration of experience), our consultants are prepared to provide a helping hand in sourcing such professionals. Over the last decade, we have formed a network of known professionals, with the bandwidth available to assist you and these persons are from within and outside of the European Union.
10. Finance & accounting – Czech Republic (and the entire EU) is a region with good reputation, but also with rules you have to follow. In the event you feel safer with a local experienced accountant and tax advisor, we are happy to assist you with contracting a well reputed professional through our wide network of local advisors and professionals.
11. Payment solutions – client accounts play an important role in the operation of forex brokers and EU banks are always reluctant to onboard and work with high-risk clients. As we know of the challenges, we are prepared to work with you to help open relevant accounts for your brokerage so that it may function smoothly. Our consultants are able to introduce you to the right payment providers in the area, so you can open at least 2 client accounts for the purposes of having a primary and a backup client accounts.

Besides bank accounts, we offer also the possibility to introduce you to e-wallet solutions, crypto solutions and card acquirers, so your clients have the option to pay by card (from the main card associations, like Visa, MasterCard).

Contact Aniva Consulting now and you can rest assured you have the best in the industry to help you successfully obtain a Czech Forex Brokerage licence.

Licensed electronic money institution

Are you about to set up a payment institution in the European Union with as many options as possible? Maybe the electronic money institution (EMI) is the best option for you. Then why not obtain a fintech license in the Czech Republic? It’s practically in the center of Europe and this jurisdiction is highly reputed and well regarded.

With the ability to passport your license, this license covers the entire European Union and gives you the right to work throughout the European Union and there are no restrictions on attracting customers from all over the world.

The license of the EMI includes all the capabilities of a payment institution license. The main difference between the two types of payment service providers is that electronic money institutions can issue electronic money, meaning that they provide financial services that are unlimited in time, so by storing e-money in e-wallets. Electronic money is the digital equivalent of cash stored on an electronic device or remotely on a server.

In general, the EMI may:

1. issue electronic money;
2. provide payment services related to electronic money; and
3. provide non-electronic payment services specified in the authorization of the electronic money institution.

Application for the Electronic Money Institution (EMI) license shall contain the following or meet the following requirements:

1. company is a legal entity with its head office in the Czech Republic;
2. fulfils the criterium of minimum capital requirement of €350,000 (even more);
3. business plan including a financial plan for the first 3 reporting periods;
4. sufficient material, technical, personnel and organizational base of suitable prudent e-money issuance and payment services;
5. managing system meets the requirements established by law;
6. fulfils the safeguarding criteria (including safeguarding policy);
7. other commercial activities of the applicant are checked to avoid any significant threat to financial stability of the planned EMI;
8. proper and fit management for the performance of activities of the electronic money institution; and
9. The director must be professionally competent with adequate experiences from the industry.

Of course, all these requirements can be easily taken care of by our experienced consultants. You don’t have to worry, just ask Aniva Consulting and you’ll be in the right hands.

Licensed small electronic money institution (limited scale)

Want to take advantage of small EMI? Just starting in the industry but want a fintech license? Do you have a new product in the payments industry you would like to try out?

Then the small electronic money institution (“SEMI”) could be the right one for you!

A company registered as a SEMI has the right to provide a full range of services as the full-scale electronic money institution, just with territorial and volume limitations.

There are 3 main limitations:

1. right to issue electronic money only to limited extent, where the average amount of electronic money issued by it and being in circulation over the past 6 months does not exceed the amount corresponding to €5,000,000;
2. other payment services not related to electronic money, have the limit of maximum average monthly volume not exceeding €3,000,000 for the last 12 months. Those. must not exceed €36 million for 12 months; and
3. services may be provided only within the territory of the Czech Republic. However, this does not prohibit customers from all over the world.

What’s needed from your side? For sure, there will be the following requirements:

1. Business plan, which represents the main important document for the CNB in application;
2. Founders and directors and compliance officers are ideally residents of the Czech Republic, otherwise the approval rate drops;
3. Reasonable financial plan;
4. AML policy;
5. Risk management procedure;
6. Complaint procedure;
7. Promise of any EU bank to open omnibus account (under sec. 41f of the Act on Banks of the Czech Republic) – this is a critical point for majority of small EMIs.

Aniva Consulting is prepared to help you from the setup of new company to its obtaining the approval as a SEMI. Don’t hesitate and contact us!

Licensed payment institution

Are you focused on having a remittance business or are you interested in card acquiring? Interested I opening one in a well reputed jurisdiction? Then there’s Czech Republic for you! Don’t hesitate and contact us at Aniva Consulting!

What is a payment institution (PI) license? It is a European license and gives the PI the right to passport its license all over the EU which is applicable automatically once the license is approved in Czech Republic. In addition, foreign staff with work passes in the Czech Republic can also easily be deployed to another EU member state to work there. So, a Czech Republic license is very attractive and there is no limits on attracting clients from all around the world.

A Czech PI is allowed to provide the following services:

1. deposit of funds to the payment account or withdraw funds from it;
2. payment transactions, also within payment accounts of users of such PI, which includes execution of direct debits from user accounts, payment transactions via payment cards (or similar) or execution of credit transfers;
3. payment transactions covered by the credit line;
4. issuance or purchase of payment instruments;
5. money transfers;
6. payment transactions with payer’s consent through telecommunication, digital or IT device while payment is made to the telecommunications, IT system or network operator, acting only as an intermediary between the payer and the supplier of goods and services.

So, what are the requirements? Here you can find a summary of them:

1. company is a legal entity with its head office in the Czech Republic;
2. fulfils the criterium of minimum capital requirement between €20,000 to €125,000;
3. business plan including a financial plan for the first 3 reporting periods;
4. sufficient material, technical, personnel and organizational base of suitable prudent e-money issuance and payment services;
5. managing system meets the requirements established by law;
6. fulfils the safeguarding criteria (including safeguarding policy);
7. other commercial activities of the applicant are checked to avoid any significant threat to financial stability of the planned EMI;
8. proper and fit management for the performance of activities of the electronic money institution; and
9. The director must be professionally competent with adequate experiences from the industry.

While the above criteria might look a bit complex, there’s nothing to worry about. That’s what Aniva Consulting is here for. We are experts in this area with years of experience of having operated out of the Czech Republic. Let us help you with your payment institution license application and even after to ensure the entire procedure runs smoothly and efficiently.

Licensed small payment institution (limited scale)

Are you interested in providing payment institution services, but would like to do so within a limited budget? Not sure yet if you want to invest a large amount in the Czech market? It’s great then that the Czech Republic provides the perfect option for you to consider! There is a sandbox version small payment institution (small PI) for you to try your hands with.

Speak to us at Aniva Consulting and we will walk you through the requirements and together, we’ll make it happen!

What is a small PI? What are the limitations?

Czech Republic is an ideal place for operating your payment institution as a Czech “Small-scale payment service providers” license is a European license and it thus possesses a high quality reputation and allows you perform remittance services and process cards.

The Small PI is allowed to provide payment services identical to a full-scale PI with the exception of the following two limitations:

1. The maximum average monthly turnover of the PI must be no more than €3 million over the period of the last 12 months. This means, the turnover cannot exceed €36 million over 12 months.
2. Territorial limitation of clients to within the Czech Republic, nevertheless reverse solicitation allows foreign clients to become clients also of a Czech payment institution.

Small PI works on the basis of obtaining approval and permission from the Czech National Bank (CNB).

What do you need to prepared to present to the CNB? Here is the list:

1. Application for the small PI to be submitted to the CNB;
2. Extract from the criminal registry in the Czech Republic proving that the founders and directors have no criminal records (including from their countries of residence, where applicable);
3. Each managing person is obliged to fill a questionnaire with information about his/her experience and education in the payments industry;
4. Business plan and financial plan, including description of implementation of payment services;
5. Description of methods of safeguarding client funds.

Sounds suitable for your business purpose and intended budget? Then there’s no reason to waste a second more of your time – just drop us a line and we can make it happen!

Bank account in or outside of the Czech Republic

Struggling to open a bank account for your company? Or do you have problems with finding a specific currency account or omnibus account?

This is exactly what our experts from the payments industry at Aniva Consulting do. Just let us know your requirements and we will work with you to liaise with financial institutions and banks that would be interested in opening an account to meet your business scope.

Getting a bank account has become a struggle for many companies and even more for financial or payment institutions (but also others). As the AML/CFT legislation is evolving each year, impact of these changes is felt in financial industry, but also in any other areas, including standard accounts, alternative payment methods, but also correspondent banking (yes, even banks have problems with bank accounts!).

With Aniva Consulting, you can always be sure that our experts will ensure and care to have your account opened in a suitable institution to advance your business needs. You just have to express your needs and we will put our maximum efforts into finding the best suitable institutions to cover your business according to your wishes.

AML/CFT and regulatory compliance

Nowadays, there’s no doubt that each financial, payment institution or companies from other industries face compliance issues, that occur on a regular basis. Thus, the very real need for a proper compliance system set up within the company. This is related to both, anti-money laundering and counter-terrorism financing (AML/CFT) activities as well as to regulatory compliance.

But why struggle to set all this up on your own? Our team of AML/CFT experts at Aniva Consulting are here to help you create a robust and fully compliant AML/CFT system. Don’t hesitate to contact us!

The AML/CFT area has become one of the most focused areas among regulatory bodies in all developed countries and the main challenge for most payment and capital markets (or other financial) institutions. Nevertheless, our experienced team is ready to provide you the helping hand you need in this area, and we will assist you to set up your system properly in accordance with the expectations of your regulatory body, so you don’t have to be worried about significant deficiencies that might bring you trouble.

Our team of AML/CFT experts have extensive experience in preparing AML policies and procedures and rich experiences with the setup of AML/CFT systems in different types of payment and capital market institutions in various jurisdictions, you can feel more than safe with the quality of the AML/CFT system we will design for you and be assured it will be to a quality standard that more than meets our regulatory body’s requirements.

Moreover, regulatory compliance comprises the preparation of various different reports, which our team of experienced personnel will take care of for you instead of you having to create, train and supervise a team of your own. Ensure good relations with your regulatory body through a proper AML/CFT system – our consultants are here to share their experiences and help you to always remain compliant.

AML/CFT and payment services gap analysis

Each company has its own desired outcome in its business plan or in the minds of their founders or directors. However, the reality tends to be different or deviates to a certain extent from your business goals. While many will accept it as a natural and expected phenomenon, but what if you could achieve your desired company outcomes?

There’s often a gap between “where we are” and “where we want to be.” You’ll never get rid of it, however, let’s make it as narrow as possible!

Payment and financial institutions may face deficiencies in different areas, however, now the most important and business-crucial ones are the deficiencies in the AML/CFT and payments area. Struggling with account opening or onboarding a client due to AML/CFT issues might affect business adversely or even existentially, therefore, it is necessary to remove such obstacles to be able to move the company forward.

Our team is aware of this necessity and is ready to perform full-scale gap analysis of your company and activities using data and statistics from previous periods. We will then help you close the gap and remedy the situation with additional options of opening necessary accounts with the improvements implemented.

Don’t hesitate to reach your goals – with our assistance, you will be closer than ever before!

AML/CFT training

An effective AML/CFT system does not only consist of having a proper set of rules, rather it heavily relies on the people who make up your compliance team. And these people need to have proper experiences and updated knowledge – this can only be achieved through constant and timely AML/CFT training, done either in person or regularly online.

Consultants from Aniva Consulting possess multi-year experiences from payments and capital markets industry in the area of AML/CFT, and we are ready to share our knowledge and experiences with your staff and teams.

You can gain knowledge much faster and satisfy your regulatory / supervisory body with the level AMF/CFT compliance knowledge your internal teams and skilled personnel possess. All payments and financial institutions need to have their customer facing staff, operation personnel, compliance department, third line of defense (internal audit) staff and senior management with board of directors aware of potential AML/CFT issues.

As this area has become a serious concern in the eyes of supervisory bodies and banks, it’s necessary to prepare your infrastructure and know-how of your personnel.

Don’t waste your time and resources – you can increase the knowledge of your staff more effectively and in short-time, while developing high quality AML/CFT compliance know-how in-house! Contact us at Aniva Consulting and together, we’ll make it happen!

Corporate admin in relation to a Czech company

One of the most time-consuming part of every business is the incredible mountains of paperwork that inevitably needs to be handled to remain compliant with local company law requirements. This administrative work occupies and takes up your existing personnel resources and human resource funding which could be used towards increase sales or marketing personnel headcount. Or are you a new company looking to keep a low headcount while remaining statutorily compliant with local mandatory requirements?

Your time and that of your staff are precious – leave the corporate administration to Aniva Consulting and focus on your business and profit!

Not only licensed companies in the area of payments or capital markets, but also standard ones require hard work and dedicated corporate admin teams to meet all the mandatory requirements not only during their formation, but also on an ongoing basis. Setting up such teams takes time, money and multiple error corrections before an effective system can be set up. Why not solve this easily through the help of Aniva Consulting’s team of experienced personnel who will care for your company’s corporate admin needs as well as communication with relevant authorities.

Where you would like to have your own in-house teams, Aniva Consulting’s consultants are ready to provide you with consultancy assistance to help you with the storage of all relevant client documents, their preparations, certifications, reporting or warning you about mandatory deadlines. In this way, we will be your second line of defence and you don’t have to rely solely only on your employees. You can be sure then that you meet the expectations of your supervisory body.

Don’t waste time on paperwork – focus on your profit and Aniva Consulting will take care of the rest!

Obtaining legal, tax, accounting or audit assistance for clients

A natural part of each business is regular legal and tax advisory that’s necessary to properly run a business. This might be to purely consult on specific activities, a new type of business concern or certain issues have arisen in connection with your supervisory body. The same applies to taxes where prevention is always better that any kind of sanctions.

Feeling uncertain about any legal issues, accounting or tax questions? Do you require an AML/CFT compliance auditor? Ask Aniva Consulting for assistance!

It’s only natural that business expansion will result in new questions which will require additional and more specific consulting or advisory on. Our experts from both fields have a global network of advisors who are sound professionals in their own regard. We will assist you by sourcing the best suited advisors to match your needs and provide a list of carefully selected advisors who will assist to solve your specific issue.

Having solved various payments or capital market industry concerns and possibly similar issues to what you might have now, our consultants know exactly where to find the right answer and who to connect you with, thus providing you with a one-stop-solution, so you can save time finding the right lawyer or tax advisor. Our network already comprises expert in all the necessary areas for your business.

Avoid the long and costly search for the right person, ask our consultants – we will get you the right advice immediately!