Bonfirepay SPI licence23 Jul 2024 14:14
How Spain`s SPI Licences differ from other EEA countries
So how do Spain`s SPI licences differ from those in other EEA countries? Ordinarily, after a small PI reaches the threshold of €3 million in payments per month, you are required to apply for a full PI licence.
The peculiarity in Spain is that when your application is being considered, you’re able to work without payment volume restrictions. Such a strategy allows you to launch a payment business in six months and, indeed, work without restrictions on payment volume limitations.
Makes sense why they went to Spain rather than another EEA country. Big plans, big dreams, big share price.