TPP license requirements

1. Organization
   • AIS + PIS and PIS only: Limited liability company or joint stock company
   • AIS only – any legal form
2. Capitals
   • AIS + PIS and PIS only: EUR 50,000 initial capital and own funds
   • AIS only – no requirements for initial capital and own funds
3. Board of Directors
   • no numerical requirements;
   • competence requirements (guarantee of prudent and stable management)
4. Supervisory Board
   • No obligation to have
5. Special positions in the organization and cooperating entities
   • internal controller,
   • AML inspector (in the case of AIS + PIS and PIS only)
   • auditor and auditing firm (in the case of AIS + PIS)

Milestones for obtaining a TPP license

1. Verification stage
   • Review the organization for eligibility to apply for a TPP PSD2 license
   • Implementation of any adjustments
2. Preparation
   • Legal qualification of services
3. Application
   • provision of model internal documentation as well as activity program and financial plan
   • joint determination of the final content of the internal documentation and the activity program and financial plan
   • collection of complete source documentation required from the Principal, board members and shareholders
   • submission of the application to the supervisory authority
4. Proceedings
   • periodic communication with the authority
   • Preparation of responses to the authority’s summons
5. Provision of services
   • commencement of service provision on the basis of the license obtained
   • passporting to other EEA countries