How to Obtain an Electronic Money License in New Zealand

May 22, 2024

Establishing a business that deals with electronic money in New Zealand can be a lucrative venture, considering the country's robust financial ecosystem and supportive regulatory environment. However, one crucial step to kickstart your operations legally is to obtain an electronic money license. This comprehensive guide will walk you through the process of acquiring an electronic money license in New Zealand with the help of expert lawyers from

The Importance of an Electronic Money License

Before diving into the specifics of obtaining an electronic money license in New Zealand, let's first understand why this regulatory approval is so crucial for your business. An electronic money license allows you to issue electronic payment instruments, store and transfer funds electronically, and provide payment services. It not only enhances the credibility of your business but also instills trust among your customers and partners.

Eligibility for an Electronic Money License in New Zealand

In New Zealand, the issuance of electronic money licenses falls under the regulation of the Financial Markets Authority (FMA). To be eligible for obtaining an electronic money license, your business must meet certain criteria set forth by the FMA. These criteria typically include:

  • Proof of sound financial standing
  • Demonstrated competence in managing electronic money services
  • Robust anti-money laundering (AML) and counter-terrorism financing (CTF) controls
  • Compliance with Know Your Customer (KYC) requirements

Application Process for an Electronic Money License

Obtaining an electronic money license in New Zealand involves a detailed application process that requires meticulous attention to regulatory requirements and documentation. Here are the key steps involved in applying for an electronic money license:

  1. Preparation: Engage the services of experienced lawyers specializing in financial regulations to assist you in preparing a comprehensive application package.
  2. Documentation: Compile all necessary documents, including your business plan, financial projections, compliance manuals, and AML/CTF program.
  3. Submission: Submit your complete application package to the FMA for review and approval.
  4. Review: The FMA will conduct a thorough review of your application, evaluating your business's suitability for holding an electronic money license.
  5. Approval: Upon successful completion of the review process, you will receive approval to operate as a licensed electronic money issuer in New Zealand.

Benefits of Partnering with Professional Lawyers

Navigating the complex landscape of regulatory approvals and compliance requirements can be challenging, especially when it comes to obtaining an electronic money license. By partnering with specialist lawyers from, you can streamline the application process and ensure a higher chance of success. Here's how experienced lawyers can benefit your application:

  • Expert Guidance: Lawyers with expertise in financial regulations can provide you with invaluable guidance throughout the application process.
  • Document Preparation: Legal experts can assist you in preparing all the necessary documents and ensuring compliance with regulatory standards.
  • Regulatory Compliance: Lawyers can help you navigate the intricacies of regulatory compliance, minimizing the risk of application rejections.


Obtaining an electronic money license in New Zealand is a significant milestone for businesses looking to operate in the fintech space. By adhering to the regulatory requirements and seeking assistance from professional lawyers, you can expedite the application process and position your business for success in the dynamic electronic money market of New Zealand. Contact today to embark on your journey towards securing an electronic money license in New Zealand.

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