Who must apply for an authorisation?
Estonian FIU issues authorisations for operating in the following areas of activity (Money Laundering and Terrorist Financing Prevention Act § 52):
- operating as a financial institution;
- providing trust and company services;
- providing currency exchange services;
- providing services of alternative means of payment;
- providing pawnbroking services;
- buying-in or wholesale of precious metals, precious metal articles or precious stones, except precious metals and precious metal articles used for production, scientific or medical purpose
The authorisation obligation does not apply to a person who holds:
- an authorisation granted by the Financial Supervision Authority
- an authorisation granted by the financial supervision authority of a contracting state based on which the person is authorised to operate in Estonia via a branch or across borders, provided that the Financial Supervision Authority has been notified of such operations
How to apply for authorisation?
The application for authorisation can be submitted in the register of economic activities. The register of economic activities can be accessed via the state portal www.eesti.ee (services – for an entrepreneur – licences and registrations - Entering the Register of Economic Activities) or via website https://mtr.mkm.ee.
Payment of the state fee
To apply for an authorisation, please pay the state fee of 345 euros to one of the following bank accounts of the Ministry of Finance (Rahandusministeerium):
- EE932200221023778606 (Swedbank)
- EE891010220034796011 (SEB)
- EE403300333416110002 (Danske)
- EE701700017001577198 (Nordea)
Please add reference number 2900082427 and an explanation containing name of the undertaking and „ application for the authorisation of the Financial Intelligence Unit“.
The processing of an application
An application for authorisation shall be processed by the Financial Intelligence Unit by granting or refusing to grant the authorisation within 30 working days as of the date of submission of the application.
More information: firstname.lastname@example.org or +3726123859, +3726123869
The notification obligation
Pursuant to subsection 30 (6) of the General Part of the Economic Activities Code Act an undertaking submits together with the annual report a confirmation that it has performed the notification obligations provided for in subsections 30 (1), (2) and (5) of the General Part of the Economic Activities Code Act or about the absence of such notification obligations.
An undertaking is required to submit the annual report with the Commercial Register within six months of the end of the financial year. The report can be filed electronically via the e-Business Register Company Registration Portal. Please make sure that the information concerning the authorisation is correct in the the Register of Economic Activities. If the information concerning the authorisation must be updated, notice on change in economic activities must be submitted in the Register of Economic Activities.
To update information concerning the authorisation click Change, complete the required fields and then click Submit.
An authorisation must contain the following data and documents:
- contact details (telephone number, e-mail address and postal address) of the undertaking;
- the address of the place of provision of the service, including the website address;
- the name and contact details of the person in charge of provision of the service with regard to all the places of provision of the service.
- the name, personal identification code (upon absence thereof, the date of birth), place of birth and the address of the place of residence of the beneficial owner of the undertaking who is a legal person;
- if the undertaking who is a legal person has not been registered in the Estonian commercial register, the authorisation application shall contain the name, registry code or personal identification code (upon absence thereof, the date of birth), place of birth and place of residence of the owner of the undertaking who is a legal person;
- the name, personal identification code or, upon absence thereof, the date and place of birth and the address of the place of residence of a member of the directing body or a procurator of the service provider who is a legal person, unless the service provider is an undertaking registered in the Estonian commercial register;
- the rules of procedure and internal audit rules drawn up in accordance with § 29 and 30 of Money Laundering and Terrorist Financing Prevention Act, in the event of persons having specific obligations listed in § 6 of International Sanctions Act, the rules of procedure and the procedure for verifying adherence thereto drawn up in accordance with subsection 13 (6) of the International Sanctions Act;
- the name, personal identification code (upon absence thereof, the date of birth), place of birth, citizenship, the address of the place of residence, position and contact details of the compliance officer specified in subsection 29 (3) or 29 (4) of Money Laundering and Terrorist Financing Prevention Act;
- the name, personal identification code (upon absence thereof, the date of birth), place of birth, citizenship, the address of the place of residence, position and contact details of the person who is in charge of the imposition of the international financial sanction and who has been appointed by the undertaking in accordance with subsection 13 (6) of the International Sanctions Act;
- if the undertaking, a member of its management body, procurator, beneficial owner or owner is a foreign national or if the undertaking is a foreign service provider, a certificate of the register of convictions or an equal document issued by a competent judicial or administrative body of its country of origin, which certifies the absence of a penalty for an offence against the authority of the state or a money laundering offence or another wilfully committed criminal offence and has been issued no more than three months ago and has been notarised or authenticated and legalised pursuant to an equal procedure or authenticated with a certificate replacing legalisation (apostille), unless otherwise provided by an international agreement.
If an undertaking does not operate in an area of activity subject to the authorisation obligation, then notice on renouncement of economic activities must be submitted in the Register of Economic Activities.