Regulatory Alerts2017-02-24
Added · Updated
Electronic money institutions having their registered offices in other member states
Non-resident electronic money institutions must complete the notification procedure with their home member state's supervisory authority before operating in the Netherlands under the European passport. These institutions are prohibited from issuing electronic money via an agent but are permitted to provide services through an authorized agent, provided they hold authorization from their home supervisory authority. Compliance with Dutch laws and regulations is mandatory for all such entities.
Factsheet
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Non-resident electronic money institutions must first complete the notification procedure of the supervisory authority in their member state of origin before they are permitted to operate in the Netherlands under their European passport. The relevant supervisory authority will then forward its notification to DNB.
Published: 24 February 2017
Non-resident electronic money institutions are required to comply with Dutch laws and regulations. The European passport is only valid in EEA countries. These are the European Union member states, Liechtenstein, Norway and Iceland.
Electronic money institutions having their registered offices in member states other than the Netherlands that want to provide services from a branch office in the Netherlands, or provide services to the Netherlands are not permitted to issue electronic money by way of an agent, but they are permitted to provide services by way of an authorised agent in the Netherlands. This requires authorisation from the supervisory authorities in the member state from which it operates.
General information
What is an electronic money institution?
Services not requiring authorisation
Exemption from the authorisation requirement
Applying for authorisation
Application form and notes
Application process (10 steps)
How long will it take to consider my application for authorisation?
Application fees
How to apply successfully
Background information
PSD2
Prohibition on operating as an electronic money institution without authorisation
Public register
Electronic money institutions having their registered offices in other member states
Legislation and regulations governing market access for electronic money institutions
Discover related articles
Factsheet
Market access
Electronic money institutions
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