The law sets the minimum amount of capital for an applicant at EUR 5 million/
The initial capital consists of one or more of the elements referred to in Article 26 (1) (a) to (e) of the Regulation (EU) No. 575/2013: (a) capital instruments, provided the conditions laid down in Article 28 or, where applicable, Article 29 are met; (b) share premium accounts related to the instruments referred to in point (a); (c) retained earnings; (d) accumulated other comprehensive income; (e) other reserves;
The Central Bank may authorize specific categories of credit institutions whose initial capital is less than that provided for in subparagraph (1), provided that the following conditions are fulfilled:
The initial capital is not less than one million Euros (€ 1,000,000)
The Central Bank shall inform the Commission and the European Banking Authority of the reasons for making use of this option