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Aug 9, 2019 — We have for sale a UK registered FCA authorised and fully regulated Payment Institution (money transmitting business). The company is fully EU authorised and can (currently) be passported to all 27 EU / EFTA member states.
The Company was set up in 2016 but has not traded previously. It is current with all filings and has all licenses and other requirements in place and will be listed on the FCA website when start trading. It has segregated banking services (subject to approval of new owners), and can start trade after 3-4 weeks after approval of a buyer.
The Company can issue plastic and virtual Visa and MasterCard prepaid debit cards under its own brand throughout the EU (subject to set up costs).
The business is set up and ready to trade worldwide, offering payment, transfer and foreign exchange services to private individuals and businesses.
The firm's approved persons are, subject to negotiation, prepared to fulfil the firm's controlled functions for a period of time in order to facilitate a smooth handover of the firm to the purchaser. The Company's FCA authorisation is granted by a UK Institution and the business can arrange its direct license within 12 months at a cost of £5,000 (application approval included).
Full FCA operational training, compliance operational manuals and FCA Gabriel reporting is taken care of and included in the price, so a buyer can avoid hiring extra staff to handle the FCA reporting burden.
The operational cost for the Company INCLUDING compliance officer and FCA audits are £60,000 p.a. (payable over 12 months). In addition, there are office and admin operational costs (London secure office rent approximately £1,500 per month). It can however be operated from any UK location.
A great low cost option during times of uncertainty such as Brexit and the perfect option for startup payment firms who lack a track record. The purchase price will be recouped in the first month of trading.
Price £37,500 only (please note this is NOT a small firm but a fully regulated unlimited PSP business). In addition, a buyer will NOT have to deposit any regulatory funds as that is already included in the authorisation.
No better PSP business deal available anywhere.