Financial Licenses

Comparative analysis: navigating the financial sea with EMI licenses in Spain and the UK after Brexit

7/25/2023 8:00:00 AM
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Running a business in the European Union is a great opportunity to expand your financial plan. As we explain in our Forever Free article, an operating company is the best money-generating machine that you can ever get. In other words, it's your best investment. 

For operating a company, the best license in Europe is the EMI license which allows you to provide digital money services. Since we've discussed both of these jurisdictions in different entries, today we're bringing this comparison that will help you see their differences at a glance.

Benefits of an EMI license: UK vs Spain, which one is better?

If you're wondering how to obtain a financial license or want to know the EMI license regulations, you're going to find this section interesting. It will certainly help the reader to create a mental picture of this economic climate: UK vs Spain.


  • Initial capital: 350,000 euros or 2% of your outstanding e-money, whichever sum is larger. 
  • Limit of monthly transactions: No limit
  • Countries where operations are allowed: Spain + EEA thanks to passporting rights
  • Application fees: No fees
  • AML fee: to be confirmed during your consultation
  • BoS fees: to be confirmed during your consultation 


  • Initial capital: 350,000 euros or 2% of your outstanding e-money, whichever sum is larger. 
  • Limit of monthly transactions: No limit
  • Countries where operations are allowed: UK and worldwide (no passporting rights)
  • Application fees: 5,000 pounds
  • AML fee: 100 pounds
  • BoS fees: 0.0049 pounds per account

Note: the prices don’t include legal fees or expenses 

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UK vs the EU, Spain: a comparison 

By looking at the two tables it's clear that there are practically no differences regarding fees, capital requirements, and monthly transaction limits. So where is the difference and where to look when choosing the best license in Europe? The answer is to be found in the countries where operations are allowed.

Although the UK allows you to operate globally, Spain, as a part of the European Union and the European Economic Area, allows you to operate in other European countries much more easily. Next, let's explore what passporting is and analyze why is this an advantage.

Post Brexit business landscape: what is passporting and why is it useful

The concept of “passporting rights” is a principle under which a company registered in the EEA can conduct business in any other EEA state without requesting a new license or authorization. If you get a financial license in any country, for example, Panama, you can't operate in other jurisdictions unless you go through the same process which is, in most cases, lengthy and expensive. With the famous passporting rights this doesn't happen within the economic European Area. In other words, the benefits of an EMI license in Spain include the possibility to operate easily and without any further process in other member states. Some of these are Latvia, Luxembourg, Greece, and non-EU countries like Norway or Iceland. By now, the reader can probably understand why they call it “passporting”: it's some sort of financial passport that allows you to operate freely in other jurisdictions. Thus, companies can either establish a branch or simply offer services within the chosen market.

However, it is possible for countries that are not within the EEA to establish a license here and then operate according to passporting rights.

While the UK used to be part of this deal, everything changed in the post-Brexit business landscape. This means that, if you choose the UK as your EMI license registration company, you won't have the possibility to operate in most European countries, at least not without applying for a new authorization.

Disclaimer: This entry presents general information and does not constitute legal advice. This article doesn’t intend to replace a professional consultation. 

UK vs Spain: where to obtain the best license in Europe

To sum up, there's no right or wrong. If there would be, everyone would choose the same jurisdiction. For businesspeople who want to operate in Europe (since most countries in this continent are part of the EEA) the decision is clear: don't waste time or money and choose Spain in the UK vs EU contest.

If you're wondering how to obtain a financial license to issue, redeem, and transfer digital money, in other words, if you want to provide these services, get in touch with Mundo Experts and ask for a personal consultation.

The financial world is too wide, and you can't afford to stay within your comfort zone. If you already reached a fair level of success in your home country or in your current business, it may be time to take the leap. Choose a historic financial center like the UK or choose Spain and operate across the European Union. The world is yours if you want it to be: contact your Mundo Expert and find out everything you need to know.

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