License for money transfer

Transfer of funds in accordance with Art. 4 of the Law "On financial services and state regulation of the financial services market" is a financial service that can become one of the most promising today and in the near future. Only those companies that are registered in the register of financial companies of Ukraine and have a license can provide this service. Therefore, the first thing to do is to register a financial company. For this, the optimal solution will be to ask for help.

Our law firm will provide quality assistance in the matter of obtaining a license for money transfer. Experienced specialists with extensive knowledge will be able to quickly and efficiently prepare and submit the necessary documents for licensing. And also to represent and protect your interests at every stage of the licensing procedure.

The license for money transfer is issued by the National Bank of Ukraine (NBU).

Before proceeding to licensing, it is necessary to register a financial company in accordance with all norms of current legislation. It is important that the statutory fund of the company is at least 5 million hryvnias and is formed only by cash.

If this requirement is met, you can proceed to the following:

• the financial company must develop rules for conducting money transactions (transfers) in accordance with current legislation;
• the director, as well as the chief accountant, must also meet the requirements established for these positions;
• the company must be registered in a non-residential premises;
• the staff of the financial company must consist of competent specialists and have the position of specialist in financial monitoring.

After fulfilling all the requirements, it is necessary to prepare a weighty package of documents, which includes: an application, a copy of the company's charter, a certificate of registration of a legal entity, financial statements for the selected period, a receipt for payment for the licensing service, internal rules for transferring funds, etc. You will learn more about all the necessary documents from our specialists.

After submitting the necessary package of documents, the licensing body - NBU examines the documents and must make a decision on issuance or refusal within 2 months from the moment of receipt of the documents. If the decision is positive, then the financial company can legally carry out its financial activities.

Obtaining a money transfer license is a rather difficult and specific process that requires knowledge and time. Therefore, in order for everything to go quickly and successfully, it is best to enlist the support of competent specialists who will be able to prepare all the documents, submit them to the licensing authority and obtain a license for the successful operation of your financial company.