Authorisation procedure

No payment institution or electronic money institution established in Luxembourg may provide payment services or issue electronic money without holding a written authorisation by the Minister responsible for the CSSF (Articles 6 and 24-2 of the PSL).

 

The investigation procedure generally starts with a meeting at the CSSF aiming to present the project. Next, the applicant submits a formal application to the CSSF, including all the documents and information required using the relevant application forms.

 

The CSSF then examines the file, through analysing it, exchanging letters and, where appropriate, organising a new meeting. When the CSSF has finished its investigation, a letter authorises the applicant to transmit the application file to the competent Minister.

 

After the authorisation has been granted, the authorised company is published on the official register maintained by the CSSF.