Estonia Credit Institutions Insurance License

Credit Intermediaries in Estonia

Finantsinspektsioon issues and revokes operating licenses for credit intermediaries among others. An operating license issued by Finantsinspektsioon does not have an expiration date.

A credit intermediary is an entity that meets the criteria outlined in the Creditors and Credit Intermediaries Act. Credit intermediaries facilitate the granting of credit to consumers for a fee or facilitate consumers in entering into credit agreements. They assist consumers before and during the signing of credit agreements, independently and permanently intermediating contracts on behalf of the creditor or signing them on the creditor's behalf and account. A mortgage intermediary specifically facilitates mortgage-backed credit for consumers.

Applying for an Operating License as a Credit Intermediary

To obtain an operating license as a credit intermediary, the management members of the business in formation or operation must submit a written application to Finantsinspektsioon, including the documents and data specified in the Creditors and Credit Intermediaries Act.

During the implementation period of the Creditors and Credit Intermediaries Act, Finantsinspektsioon decides to issue or deny an operating license within six months of receiving all necessary documentation and meeting requirements, but no later than eight months after receiving the application for the operating license.

The fee for applying for an operating license as a credit intermediary is 1000 euros, and the fee for applying for an additional operating license is 500 euros.

For more information, please contact Neptune Fiduciaries at info@neptunecorporate.com or sales@neptunecorporate.com.