Licensed forex brokerage – Polish FX Brokerage

Interested in setting up an EU brokerage within a jurisdiction with good reputation, highly skilled personnel and relatively business friendly conditions where banks are more open to cooperation? Then Poland might be that jurisdiction you are looking for!

Advantages of a forex brokerage in Poland:

  1. European Union – it’s simply the fact that European Union regulation brings uplifts the reputation of such companies to a higher level, and to being among the most popular globally, by following rules of MiFID, MiFIR, MAR etc.
  2. Passporting – once you setup a brokerage in any EU country, you can passport it to other EU countries by simple notification. This means that if a company is authorised to undertake certain activities by the regulator of one EU member state, it can apply for a ‘passport’ to do business throughout the EU without needing further authorization. Now that’s a significant advantage as you get to cover multiple markets under a single license.
  3. Cooperating local banks – local Polish banks are more open to providing omnibus accounts to local licensed entities.
  4. Skilled personnel – Poland is a big country with a high standard of education which provides you with adequate human resources to serve your brokerages needs including personnel for running your administrative back office too.
  5. Experienced supervisory body – in Poland, the supervisory body (KNF – Komisja Nadzoru Finansowego) is an experienced authority, having already garnered years of regulating well known brokerages such as XTB, Admiral Markets, FXCM, Alpari, Plus500 etc. Therefore, you know you will be answering to a well experienced regulator who has extensive oversight knowledge.

Mandatory requirements follow the MiFID II regulation, which is relatively similar with the requirements in other EU jurisdictions. To setup this Polish FX brokerage, be ready to set aside a minimum capital of between €125,000 or €730,000, have experienced staff including management (local) and compliance officer as well as a proper dealing desk, among others.

Interested in this location? Contact Aniva Consulting and sit back and let us lead you through the process to successfully obtaining a full brokerage solution in Poland.

Licensed Electronic Money Institution

Do you need to provide SEPA payments or are you willing to take advantage of a reputable EU jurisdiction to provide payment services? Then Poland’s Electronic Money Institution (EMI) license is the right choice for you.

Don’t hesitate to contact Aniva Consulting who will help you prepare the application and obtain this fintech license.

What are the requirements for e-money license:

  1. Shareholders setting up the Polish EMI must be screened by the KNF in parallel with licensing procedure.
  2. Number of employees:

Three (3) employees are needed at minimum, namely:

  1. local director (executive);
  2. AML compliance officer (or sometimes called money laundering compliance officer);
  3. Regulatory compliance officer (taking care of EMI reporting requirements)
  1. Office – local office space is needed.
  2. Outsourcing – as most of our clients handle their operations from outside Lithuania, or are planning to use outsourced service providers, outsourcing agreements will need to be put in place and need to be drafted precisely to meet Bank of Lithuania’s requirements. Don’t fret, our team of experienced consultants will be here to help you with this problematic task including drafting and provide you with consultation on the structure.
  3. Minimum capital requirements – based on the EMI directive from the European Union, the minimum capital requirement is €350,000. However, this isn’t showing you the entire picture and is rather misleading. This is because, KNF requires a buffer on the capital requirement for a full EMI (small EMIs, are thankfully not subjected to this strict requirement). We therefore would recommend setting aside at least €400,00 or even more as the minimum capital for a full EMI.

Why Obtain an EMI License in Poland:

  • EU reputable payment institution
  • Access to labour force in a country with skilled employees
  • Passporting to other EU countries
  • Easy access to SEPA
  • Relatively friendly banks to open an omnibus account in

If you are still hesitating or are you unsure on how to proceed – let your trusted partners at Aniva Consulting not only walk you through the process but complete it for you too.

Licensed payment institution

Is the European Union (EU) payment license the right one for your clients?

Do you need a reputable license for card acquiring?

Want to be in SEPA area?

Then the Poland Payment institution (PI) license is the one that can meet your demands!

What can I do with a Payment Institution license in Poland?

Here’s a summary:

  1. cash payments acceptance or cash withdrawals
  2. performing payment transactions via payment orders, transfer orders or payment cards
  3. payment transactions can be initiated by the utilization of your own funds (payment credit)
  4. issuance of payment instruments (e.g., credit cards)
  5. card acquiring
  6. money orders
  7. payment transactions can be initiated by telecom / digital / IT means and transferred to providers of these telecom / digital / IT services, acting as intermediaries between payers and ultimate beneficiaries

Minimum capital requirement is €125,000.

Further, you can take advantage of the PI also for card issuing or card acquiring and benefit from card transactions of your merchants.

Advantages of PI or small PI in Poland:

  1. Fintech-friendly environment
  2. EU reputation
  3. Skilled manpower
  4. EU passporting
  5. Fast and cost-effective authorization process
  6. Good standing banks
  7. Banks are relatively welcoming when opening an omnibus account for local PIs

Let Aniva Consulting be your trusted partner and we will make it happen!

Licensed small payment institution (PI)

Want to start with a smaller payment institution and in a reputable jurisdiction? Then Poland might the best choice for you. A Small Payment Institution allows you to perform remittances and become a card acquirer.

It is a comfortable solution for those businesses that would like to try it in practice but lack previous experience in running a payment institution. The Polish Supervisory Body, KNF, refers to this small PI as a regulatory sandbox which is recommended primarily for all kinds of start-ups in Poland, especially from the FinTech industry.

So, what can you do with a Small PI in Poland?

  1. Deposit cash to a payment account as well as all the operations required for operating a payment account.
  2. Withdraw from a payment account as well as all the operations required for operating a payment account.
  3. Execution of payment transactions, including transfers of funds on a payment account with the user’s payment service provider or with another payment service provider:

(a) execution of direct debits, including one-off direct debits;

(b) execution of payment transactions through a payment card or a similar device;

(c) execution of credit transfers, including standing orders.

  1. Execution of payment transactions if such funds are covered by a credit line by a payment service user.
  2. Issuing of payment instruments and/or acquiring of payment transactions.

Of course, as this is a Small Payment Institution, there are some limits. The average total amount of payment transactions from the previous 12 months carried out by the Small Payment Institution cannot exceed an amount equivalent to EUR 1 500 000 per month.

In the event such limit is exceeded, the Small Payment Institution has two options: either (1) reduce the extent of operations or (2) apply for the status of full Payment Institution.

The other limitation is that it may store users’ funds on payment accounts, which total amount cannot exceed the equivalent of €2000 in Polish currency.

Also as is the case with limited institutions in other jurisdictions, it may operate only within Poland.

Nevertheless, the advantages of this institution are clear, and the legal procedure is relatively easy.

Therefore, in case you decided to opt for a Small Payment Institution in Poland, contact Aniva Consulting and we will help you complete the process and take care of the rest for you!

Bank account in or outside of Poland

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 Polish 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!

Get a personal consultation.

We will take care of your business setup requirements.