Firms whose main market is the United Kingdom choose Gibraltar for its English law, English-language regulation, published service standards and access to the UK market.
Selected engagements from more than 250 licences obtained since 2013, for payment, e-money, cryptoasset and consumer credit firms.
Volkswagen
Payment InstitutionObtained Nexpay’s FCA Authorised Payment Institution licence.
Electronic Money InstitutionObtained Dzing Finance’s FCA Authorised Electronic Money Institution licence.
Obtained Orbital’s FCA Authorised Payment Institution licence.
Our realistic timeline from submission, set against the regulator’s own published figures.
Safeguarding, operating and settlement accounts opened alongside the application, so you trade on authorisation.
Candidates introduced for senior managers and non-executive directors, each assessed against the regulator’s standard.
A reply within three business hours and a written proposal the same day: the licence, the requirements, the cost and the timing.
You will need senior managers and non-executive directors, each approved by the GFSC as fit and proper, which takes 30 working days where it holds an interview.
One engagement and one timetable, from scoping to launch. Speak to an expert about the people, the banking and the technology for this licence.
The regulator’s requirements, capital, timing, fees and the questions firms ask, from the regulator’s own publications.
Any firm issuing e-money, the E-Money Issuer permission, or providing payment services, the Payment Service Provider permission, in or from Gibraltar needs authorisation under Part 7 of the Financial Services Act 2019 and the payment services and e-money regulations made under it. Credit institutions and e-money issuers do not need a separate payment institution licence but obtain permission to carry on payment services; agents of a payment service provider are registered with the GFSC. Gibraltar is chosen by firms whose market is the United Kingdom: a Gibraltar authorisation gives access to the UK under the transitional arrangements and, in due course, the Gibraltar Authorisation Regime, from a jurisdiction with English law, English-language regulation and published service standards.
| Permission | Scope | Initial capital | Passporting |
|---|---|---|---|
| Authorised e-money issuer | Issuing e-money and providing payment services | Higher of €350,000 and 2.2% of average outstanding e-money | UK under transitional arrangements |
| Small (registered) e-money issuer | Issuing e-money within the small regime | 2.2% of average outstanding e-money | None |
| Payment institution, Class A | Money remittance | €20,000 | UK under transitional arrangements |
| Payment institution, Class B | Payment initiation and account information | €50,000 | UK under transitional arrangements |
| Payment institution, Class C | Cash placement and withdrawal, payment execution including direct debits, cards and credit transfers, credit-backed execution, issuing and acquiring | €125,000 | UK under transitional arrangements |
| Registered (small) payment institution | Payment services within the small regime | Not published | None |
| Requirement | Amount |
|---|---|
| Authorised e-money issuer | Higher of €350,000 and 2.2% of average outstanding e-money, projected at application |
| Small (registered) e-money issuer | 2.2% of average outstanding e-money |
| Payment institution, Class A (money remittance) | €20,000 |
| Payment institution, Class B (payment initiation and account information) | €50,000 |
| Payment institution, Class C (execution, issuing and acquiring) | €125,000 |
| Ongoing own funds | Method under the Payment Services Regulations agreed with the GFSC before final approval |
A firm holding several permissions may need the aggregate of the amounts.
| Figure | Value | Source |
|---|---|---|
| Statutory decision period | Up to 12 months to determine an incomplete application plus 3 months for e-money and payment services, 15 months in total | GFSC Service Level Standards under the Financial Services Act 2019 |
| Regulator’s published figure | 9 months maximum for e-money across three stages (5, 2 and 2 months) and 6 months for payment services (3, 2 and 1); the clock starts once the fee is paid and the application is complete and pauses while information is awaited | GFSC Service Level Standards |
| Application preparation | 6 to 8 weeks | From instruction to submission, including banking in parallel |
| Our realistic timeline | 6 to 9 months after submission | The firm’s own figure, from the regulator’s published data and its own applications |
Figures published by the regulator are quoted as published and converted to months. The realistic timeline is the firm’s own, for a complete, well-prepared application.
| Item | Amount | Notes |
|---|---|---|
| EMI application fee | £45,000 | Fee Block A1; paid in full with the Stage 1 submission |
| EMI annual fee | £26,262 base plus e-money fee | E-money fee of £0 to £45,959 by average outstanding e-money, plus £262 per agent and £133 per distributor, plus the passporting fee |
| Payment institution application fee | £11,250 Class A; £22,500 Class B; £45,000 Class C | Fee Block B1; registered payment institution £4,331 |
| Payment institution annual fee | £9,192 base plus additional fees | Additional Fee 1 by class: £9,192 Class A, £13,167 Class B, £17,070 Class C, £6,568 registered; a turnover-based Additional Fee 2; £262 per agent; the passporting fee |
| Agent appointment | £250 | Per agent |
| Passporting annual fee | £1,030 services; £5,150 establishment | Payable with the annual fee |
| UK passport application | £3,000 services; £3,500, £11,000 or £40,000 establishment | Establishment fee by complexity: non-complex, moderately complex, complex; agent passport notification £3,000; the FCA charges no notification fee |
| Professional fees | Fixed, in writing | Quoted after scoping |
A small, registered e-money issuer holds capital of 2.2% of average outstanding e-money and may not passport; a registered payment institution applies for £4,331 and pays a reduced annual fee. The GFSC’s pages state no thresholds for either regime.
| Stage | Content | E-money | Payment services |
|---|---|---|---|
| Pre-application | Introductory meeting, abridged business plan, follow-up meeting with written feedback | Within 4 weeks | Within 4 weeks |
| Stage 1 | Business model, capital, key individuals: application form, Stage 1 of the comprehensive business plan, controller forms, transfer pricing evidence; fee paid in full; supervisor assigned | 5 months | 3 months |
| Stage 2 | Risk, IT and cyber, governance, business continuity, outsourcing, financial crime and AML/CFT, risk framework and register, disaster recovery | 2 months | 2 months |
| Stage 3 | Conduct, compliance structure, remuneration, conflicts, liquidity and solvency, internal audit, complaints, Consumer Duty and operational resilience where applicable; signed Regulated Individual and non-executive director forms; professional indemnity insurance; mobilisation plan | 2 months | 1 month |
| Total service standard | Clock starts after the fee is paid and a complete application is received; pauses while information is awaited | 9 months | 6 months |
Regulated Individual approvals take 30 working days with an interview and 10 without. The GFSC gives monthly progress updates and publishes quarterly authorisation statistics: in the second quarter of 2026 the e-money sector recorded 3 Regulated Individual applications, all approved within the 30-day standard, and in the first quarter 2 applications, both approved within 30 days.
EU passporting ended with Brexit. A Gibraltar-authorised firm may carry on its permitted activities in the United Kingdom by branch or cross-border services under Gibraltar’s Financial Services (Passport Rights and Transitional Provisions) (EU Exit) Regulations 2020 and the UK’s Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019, which have effect until 31 December 2026 and are expected to be renewed until the Gibraltar Authorisation Regime comes into effect; the FCA confirms the arrangement runs until 31 December 2026 and may be extended, and the deadline was extended on 11 December 2023, 10 January 2025 and 19 December 2025. The regime itself is in section 22 and Schedule 6 of the Financial Services Act 2021, inserting Schedule 2A into FSMA 2000; the insertion came into force on 1 September 2023 for specified purposes only and full commencement is phased, so at October 2026 the transitional arrangements continue. A UK passport is a material change needing section 83A consent, then a notification to the GFSC, which notifies the FCA; the FCA processes it within one month under regulation 27(3) of the Payment Services Regulations 2017 and charges no fee. Passporting services is classed non-complex; passporting a branch is complex. Registered e-money issuers may not passport.
The GFSC publishes how its standards operate. The service-level clock starts only once the fee is paid and the application is complete, and pauses while the GFSC awaits requested information; progression between stages depends on the GFSC being satisfied with each stage; a rejection or conditions add one month to variation and change of control timelines; and pre-application feedback is not an indicator of the final decision. The points settled before Stage 1 are the class, the capital and its source, the controllers and Regulated Individuals, and the safeguarding arrangement.
An EMI needs a safeguarding account that satisfies the GFSC’s requirements, an operating account and settlement accounts in the currencies it serves; a payment institution needs the same without the e-money float. The firm arranges each through institutions that serve regulated firms in Gibraltar and the United Kingdom, during the application, so the firm trades on authorisation. See banking and payment processing.
The statutory maximum is 15 months. The GFSC’s service standard is 9 months for e-money across three stages and 6 months for payment services, with the clock paused while it awaits information. The firm plans for six to nine months after submission.
£45,000 on application for an EMI and £11,250, £22,500 or £45,000 for a payment institution by class, with annual base fees of £26,262 and £9,192 plus additional fees by e-money outstanding, class, turnover and agents.
Yes, by branch or cross-border services under transitional arrangements in effect until 31 December 2026 and expected to be renewed until the Gibraltar Authorisation Regime takes effect. The passport is a material change needing GFSC consent and a notification to the FCA.
No. EU passporting ended with Brexit; groups serving the EU hold an EU authorisation alongside, which the firm obtains.
Yes: a registered e-money issuer at 2.2% of average outstanding e-money and a registered payment institution with a £4,331 application fee, neither of which may passport; the GFSC’s pages state no thresholds for either.
A regulatory advisory firm to payment, e-money and cryptoasset companies since 2013, with more than 250 licences obtained in more than 60 countries. The firm advises on authorisation, compliance, safeguarding, banking and transactions, and builds the white-label payment and card technology its clients launch on.
A written proposal on cost, timing and requirements, the same day: speak to an expert.
This guide is general information for firms considering authorisation and is reviewed against the regulator’s published requirements. It is not legal advice; requirements and fees change, and the regulator’s current publications take precedence.
The requirements, the cost and the timing for your business, in a written proposal the same day.