Regulatory /

Brexit and passporting buisness activities of the national payment institution to Great Britain – January 2019 update

Payment service providers who are moving their businesses to the United Kingdom on 28th of March 2019, at the latest, will have to notify FCA of their intention to continue provision of payment services in the United Kingdom within the framework of the so-called temporary permissions regime.

The possibility to submit applications for the temporary permission regime was opened to the KIP (national payment institution) on January 7, 2019, and will be closed on March 28, 2019. Failure to register will result in lack of possibility to take advantage of the temporary regime. The application is free of charge and is made online via the Connect portal available from the FCA website.

We wrote more about the consequences of using the temporary regime in November 2018

We invite you to contact our Law Firm, which offers services in the field of:

  • making passport declarations for payment institutions,
  • verification of the correctness of passport submitted declarations (including the scope of possibilities of continuing operations in the United Kingdom from 29th of March 2019).
Author team leader DKP Legal Piotr Putyra
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