Aftrer Brexit, the United Kingdom’s licensing regime has gone through a massive change. No longer can APIs (Authorized Payment Institution) License or EMI (Electronic Money Institution) License be passported to the European Union and vice versa.
If you wish to do business in the United Kingdom, you need to get your own licenses for the UK and if the intent is to do business in the European Union (the European Economic Area – or EEA), you need to get licensing separately in that territory also.
Passporting of licenses between the UK and the EU ceased to exist after Brexit. The two geographical territories are mutually exclusive now.
This page was last updated on December 16, 2020.