All You Need to Know About Payment Service Provider Licensing in Cyprus, Regulated as an Electronic Money Institution by the Central Bank of Cyprus

Simon Zenios & Co LLC, a leading law firm in Cyprus specializing in financial and corporate law, is delighted to offer comprehensive guidance and support for businesses seeking Payment Service Provider (PSP) Licensing, regulated as an Electronic Money Institution (EMI) by the Central Bank of Cyprus.

In an era where digital transactions are becoming the norm, the need for reliable and secure payment service providers is more crucial than ever. Cyprus, with its strategic location and favorable regulatory environment, presents a promising opportunity for businesses looking to establish themselves as EMIs.


🌐 A Gateway to Digital Finance in Cyprus

Cyprus is rapidly emerging as a hub for digital finance, attracting international fintech companies. The Central Bank of Cyprus regulates EMIs, ensuring a robust framework for Payment Service Providers that contributes to the country’s growing reputation as a fintech-friendly destination.


🚀 The Path to Becoming a Licensed Payment Service Provider

Our team at Simon Zenios & Co LLC offers expert assistance throughout the licensing process:

  1. Understanding Regulatory Requirements: We guide clients through the intricate requirements set by the Central Bank of Cyprus, ensuring full compliance with the legal standards.
  2. Application Preparation and Submission: Our team aids in preparing and submitting a thorough application, ensuring all criteria are meticulously met.
  3. Ongoing Compliance Support: Beyond the licensing process, we provide continuous support to ensure ongoing compliance with all regulatory changes and obligations.

🔍 Why Choose Cyprus for Your PSP Licensing?

  • Strategic Location: Situated at the crossroads of Europe, Asia, and Africa.
  • Favorable Regulatory Environment: A balanced approach to regulation encourages innovation while ensuring security and consumer protection.
  • EU Membership: Licensed EMIs in Cyprus can enjoy the benefits of passporting their services across the European Economic Area.

💡 Simon Zenios & Co LLC: Your Partner in Financial Innovation

“At Simon Zenios & Co LLC, we are committed to supporting our clients in navigating the complex process of obtaining a PSP license. Our deep understanding of the regulatory landscape in Cyprus, combined with our expertise in financial law, makes us a trusted partner for businesses looking to venture into the world of digital finance,” says Simon Zenios, Director of Simon Zenios & Co LLC.


🔗 About Simon Zenios & Co LLC

Simon Zenios & Co LLC is a full-service law firm based in Cyprus, offering a wide range of legal services with a particular focus on corporate and financial law. The firm is renowned for its expertise in guiding international clients through the legal intricacies of doing business in Cyprus and the broader EU region.

For more information about PSP Licensing and EMI regulations in Cyprus, or to schedule a consultation with Simon Zenios & Co LLC, visit https://www.advocatescyprus.com/ or contact +357 24023370.


End of Release


This press release is structured to provide comprehensive information on PSP Licensing in Cyprus and positions Simon Zenios & Co LLC as an expert in this field, offering valuable legal services to potential clients.

Published on: 04/12/23