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Article (4): License Conditions

C 15/2021 Effective from 6/6/2021
  1. To be granted a License, an Applicant shall, at the time of submitting an Application:
     
    1. 1.1. fulfil the Legal Form;
       
    2. 1.2. meet the respective initial capital requirements per License Category specified in Article (6); and
       
    3. 1.3. provide the necessary documents and information specified in the Central Bank application form as provided by the Licensing Division.
       
  2. In addition to the requirements set out in paragraph (1) to be granted a Category I License, an Applicant shall, at the time of submitting an Application, provide a list of all Payment Tokens that it intends to issue and obtain a legal opinion on the assessment for all Payment Tokens.
     
  3. In addition to the requirements set out in paragraph (1), to be granted a Category IV License, an Applicant shall, at the time of submitting an Application, hold a professional indemnity insurance as per Article (10) paragraphs (14) to (16).