In short
The real cost of an EU authorisation is far more than minimum capital. It includes local substance and hiring, systems and controls, evidence preparation, professional support and the ongoing cost of operating as a supervised institution. Budgeting only for capital consistently understates the total.
Capital is the visible part
Minimum capital is real but often the smallest line. It rarely reflects total cost.
The hidden costs
Local hiring and substance, systems and controls, evidence preparation, and ongoing supervision and reporting.
Budgeting properly
Model both the one-off authorisation cost and the recurring cost of being a supervised institution.
Related regime guide: Payments & E-money
Official regulatory sources
Verified external references. Always confirm against the current official text.
RenIQ provides regulatory strategy and programme delivery. It is not a law firm and this content is illustrative guidance, not legal advice. Regime details are summaries that may change, so always verify against current rules and official sources, and take formal advice before acting.