Cryptocurrency license in Lithuania

Over the past few years Lithuania has evolved into a country with a well-developed and sophisticated financial system as well as transparent legislation. The crypto regulation in Lithuania allows to conduct reliable businesses that clients are willing to trust. One of the standards is to obtain the cryptolicense that allows a company to provide virtual assets services to its clients.

ADVANTAGES OF OBTAINING A VIRTUAL ASSETS LICENSE IN LITHUANIA

Registering a crypto company in Lithuania opens up many new prospects for international business development. This license allows to conduct business throughout the Eurozone, which means that a company has the potential to promote its services or products almost all over the world.

THE COST OF OBTAINING A LICENSE IN LITHUANIA

The price for the service of obtaining a Virtual assets license in Lithuania is 2500 EUR + VAT.

The list of services includes:

Preparation of necessary documents for registration and incorporation of a new Company in Lithuania (physical/remote registration);
Acquisition of a legal address for the Company for 1 year;
Payment of the state fees related to the registration and incorporation of the Company;
Registration and incorporation of the Company in accordance with law;
Obtaining the necessary authorization for the Company to provide services related to the virtual assets in Lithuania;
Internal AML/CFT documentation in accordance with the requirements of the AML/CFT law;

THE COST OF OBTAINING A LICENSE IN LITHUANIA

ADVANTAGES OF OBTAINING A LICENSE IN LITHUANIA

Registration and incorporation of a company in accordance with law.
Possibility to provide services related to the virtual assets in Lithuania, i.e. buy, sell, store, manage, transfer or facilitate the purchase or sale of virtual assets (crypto-assets) and provide other similar services related to virtual assets.
Duly and properly compiled AML/CFT internal documentation in accordance with the requirements of AML/CFT law;
Ability to obtain a license within two months.

REQUIREMENTS WHEN APPLYING FOR A LICENCE

When applying for this type of license a company has to comply with few requirements. The standard list of requirements is as follows:

The director and shareholder should have no criminal records.
Paid-up share capital of 2,500 EUR.
Designated AML/MLRO with appropriate education and experience and being a resident of Lithuania. We have a suitable specialist with the appropriate education and experience. The cost of this service is 1500 EUR/month.

DOCUMENTS AND INFORMATION NECESSARY FOR OBTAINING A LICENSE IN LITHUANIA

Identity documents of the director(s) and shareholder(s) of the Company;
Proof of address (utility bill etc.) for the director(s) and shareholder(s) of the Company;
Certificate of criminal records of the director of the Company (not older than 3 months).

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