What is an electronic money institution (EMI)?
Short answer
A licensed payment provider that holds client money, issues IBANs and cards and makes transfers, without being a bank.
Most Cyprus companies today start with an EMI, add a bank later if the business needs one, or run on both.
Information, not advice. This answer describes the published position as it stands on 10 October 2026. Requirements, fees and processing times set by the authorities change from time to time; the current position is confirmed before any work starts.
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