Slovenia has developed a vibrant FinTech community. Slovenian fintech companies already have a word to say on the global bitcoin market. Our specialists in company formation in Slovenia can help investors to set up such a company in this country, by explaining to them the commercial legislation of this state.
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What are the steps to open a fintech company in Slovenia?
Here are the steps to follow for the successful setup of a fintech company in Slovenia:
- business form selection: the private limited liability company is the recommended structure for such activities;
- documents drafting: the Articles of Association are the main papers related to the registration of the company;
- Trade Register incorporation: the purpose is to obtain the Registration Certificate;
- tax registration: this is also a standard step when starting a company in Slovenia;
- licensing: this a specific procedure applicable to companies that operate in designated sectors.
Before anything, you should choose a name for your fintech enterprise and open a bank account in this country. One of our consultants can assist you with these preliminary steps in the registration of your company in Slovenia, so that you can focus on more important aspects, and keep up with the last changes in the fintech domain.
What are the licenses available for the fintech sector in Slovenia?
There are 3 main types of licenses that can be obtained when opening a Slovenian fintech business, as follows:
- the Electronic Money Institution (EMI) license, under which a company can issue electronic money, administer payments, and complete transactions;
- the Payment Institution License, which can be used for payment and account information services;
- the crypto license, which can be used for operating trading platforms, offering custodial solutions, and managing crypto exchanges.
What is the authority issuing fintech licenses in Slovenia?
Most fintech activities are regulated by the National Bank, which is also the authority issuing the available licenses. However, EMI licenses are issued by the Financial Supervisory Authority. Additionally, if a company wants to operate outside the Slovenian borders, an approval from the European Banking Authority. In consequence, you need to pay attention to multiple factors when applying for a fintech license in Slovenia.
What are the documents to file with the National Bank to obtain a fintech license in Slovenia?
Here is a list of the documents to gather when filing for one of the fintech permits available in Slovenia:
- the company’s Certificate of Registration;
- a detailed business plan (for certain licenses, the plan must include 3 years of financial projections);
- a brochure showing the organizational structure of the company;
- proof of the minimum capital (specific requirements apply based on the activities or value of the assets managed);
- the anti-money laundering regulations;
- the know-your-client rules.
What are the capital requirements to obtain a fintech license in Slovenia?
For an EMI company, the minimum capital is EUR 350, 000. For a crypto business, there is no specific amount required, however, it must have minimum operating amounts ranging from EUR 50,000 to EUR 150,000, depending on the services they offer.
How long does it take for a fintech license to be issued?
Fintech licenses are issued in a minimum period of 40 days in the case of EMI permits; however, for crypto licenses, the timeframe is more extended, reaching several months.
Why set up a fintech business in Slovenia?
The opening of a company in such a new field as fintech is one of the rare opportunities that entrepreneurs still have in an already very diversified and specialized global scene. The Slovenian business climate is also another reason why you may choose this country in order to set up a fintech enterprise. The low taxes have already attracted entrepreneurs from all over the world, leading to a steady growth of the Slovenian economy in recent years.
The fact that the Slovenian government makes clear that foreign and local investors are treated equally under the Company Law in this country adds another reason for which you may decide to set up a fintech company in Slovenia.
To the attractiveness of the Slovenian business environment, a cheap workforce is doubled by talented, specialized people who can be a precious resource when opening a fintech company in Slovenia.
Don’t hesitate to contact our specialists in company formation in Slovenia, in order to ask for more details concerning the types of legal structures in which you could organize your fintech company in this country.