Payment Services Directive

General Overview

The Payment Services Directive 2007/64/EC (PSD) was transposed into Gibraltar law via the Financial Services (Investment and Fiduciary Services) Act (the Act) and the Financial Services (EEA) (Payment Services) Regulations 2010 (the Regulations).

PSD also permits payment institutions to engage agents to provide services on behalf of the payment institution. These can also be located within another EEA State, however, the payment institution is required to notify of its intention to use an agent in another EEA State. The requirements relating to the use of agents are contained mostly in Regulation 17 of the Regulations. The GFSC will therefore expect a payment institution to have appropriate systems and controls in place to effectively oversee its agents' activities.

An EEA Agent is defined in the Regulations as an agent through which an authorised payment institution, in the exercise of its passport rights, provides payment services in the EEA other than in Gibraltar.

Any payment institution authorised under the Act wishing to passport into another EEA state should notify the GFSC using the forms available in this section.



Application fee(s) must be submitted with the notification form(s). Notifications will be considered incomplete if the fee has not been paid and will not be processed until the fee is received.

The annual fee is not payable until your notification is approved.

  Freedom to provide Services Freedom of Establishment / Branch Engagement of an Agent in another EEA State
Application Fee £100* £1,100** £50*
Annual Fee £100 per jurisdiction, subject to a maximum of £500 £1,000 per jurisdiction, subject to a maximum of £5,000 N/A

*The fees are per country and per notification.
**The fees are per branch.

Details of the payment methods can be requested from the Accounts Team.

Please note that host states may also levy their own fees. These will be requested directly from you by the host state regulator when they receive the notification.

If the agent has not been previously registered with us, then an application for this is also required.
There is a registration fee of £250 per agent.

Service Level Standards

The timescales for processing a notification are prescribed by the PSD. We recommend that you take note of these to ensure that you plan for your business needs in advance.

These are:

  Freedom to provide Services Freedom of Establishment / Branch / Engage an agent
Since Date of receipt by the GFSC 1 Month 1 Month

When can I start providing services?

The host state regulator has one month, from the date we forward the notification, to process the notification. Therefore, you may start providing services either 1) when one month has lapsed and no communication has been received from the host state regulator or 2) before the one month has lapsed if the host state regulator has acknowledged receipt of the notification.