EMI passporting explained: where an e-money licence is valid in the EEA

Passporting lets an e-money institution authorised in one European Economic Area country provide services in other EEA countries without applying for a separate licence in each. The institution keeps a single home regulator, and the EBA EUCLID register records which countries it has notified and under which services.

How passporting works

An EMI is authorised by one home-country competent authority - for example the Central Bank of Ireland or the Bank of Lithuania. Under the EEA framework it can then "passport" into other member states, either by establishing a branch or by providing cross-border services. The home regulator stays responsible for prudential supervision.

The EBA EUCLID register publishes each institution's passporting destinations and the service codes it covers, which is why a firm authorised in one small market can legitimately serve customers across much of Europe.

Brexit changed the map

Since the UK left the EEA, passporting no longer runs between the UK and the EU in either direction:

• A UK-authorised EMI cannot passport into the EEA on its FCA licence alone.
• An EEA-authorised EMI cannot passport into the UK on its home licence alone.

Many firms now hold two licences - one with the FCA and one with an EEA regulator - to serve both regions. When you look a firm up, check which entity and which register you are actually relying on.

This directory shows EEA passporting destinations per institution, sourced from the EBA EUCLID register, so you can see where an EMI is authorised to operate rather than where it merely advertises.

Q: Does an EMI licence from one EU country let a firm operate everywhere in Europe?

Within the EEA, yes, but only for the countries it has actually passported into and only for the services it notified. The single licence is real, but the list of destinations is specific and recorded on the EBA register.

Q: Can a UK firm still serve EU customers after Brexit?

Not on its FCA licence alone. It needs separate authorisation from an EEA regulator to passport within the EEA. Check whether the firm you are dealing with holds an EEA entity, not just a UK one.

Q: Where can I see a firm's passporting rights?

The EBA EUCLID register lists passporting destinations and service codes per institution. A directory that surfaces this data lets you check it without reading the raw register export.

This guide is informational and not legal or financial advice. Confirm passporting status on the EBA register or the relevant national authority. Last reviewed: June 2026.