As CEO and founder of COREDO, I see every day how entrepreneurs from Europe, Asia and the CIS face barriers when entering international markets. Registering a company in the EU, obtaining a financial license, or opening a corporate account in Lithuanian banks turns into a marathon of checks where a single flaw in the documents can delay the process by months. Our experience at COREDO since 2016, covering the Czech Republic, Slovakia, Cyprus, Estonia, the United Kingdom, Singapore and Dubai, confirms: a Legal Opinion from an accredited Lithuanian lawyer becomes that very lever that speeds up approval and minimizes risks. In this article I will explain how to properly prepare a Legal Opinion for Lithuanian banks, relying on the practice of the COREDO team and the current requirements of the Bank of Lithuania for 2025.
Legal opinion on Lithuanian banks
legal opinion is an official lawyer’s opinion confirming that your structure complies with Basel III, CRR III requirements and local rules. Without it banks reject applications: in our observations, 40% of rejections are related to compliance gaps.
The COREDO team recently assisted a client from Singapore launching an EMI (Electronic Money Institution). The bank required a Legal Opinion to open an account with a Lithuanian bank, focusing on the company’s structure in the Legal Opinion and verification of beneficiaries. We integrated KYC analysis in Lithuanian banks, KYC for corporate clients and beneficial owners verification, which made it possible to open the account in 3 weeks instead of 2 months. This approach not only saves time but also increases ROI: the client scaled operations by 150% in the first quarter.
Legal Opinion for Lithuanian banks
- Introduction and identification of the entity: Full description of the company, founders, UBO (ultimate beneficial owners). Specify enhanced UBO verification with links to eIDAS or video-verification: this is a must-have after the 2025 updates.
- corporate structure and governance: Analysis of governance requirements, organizational structure in the licensing criteria and internal controls. For high-risk businesses such as crypto, add risk-weighted assets according to prudential standards and EU banking union norms.
- Compliance section: A detailed review of KYC/AML in Legal Opinion for banks, including AML for banks, AML manager appointment and automated monitoring. Banks check sanctions lists screening and transaction limits for corporate accounts.
- Financial and operational risks: Assessment of minimum capital in Lithuania (from €350,000 for an EMI), crypto share capital for the crypto license in Lithuania under the MiCA regulation. Mention the CASP transition period until 2025 and differentiated capital.
- Regulatory aspects: Coverage of DORA compliance in Lithuania for outsourcing rules, operational resilience and cybersecurity requirements. Add climate risk management in prudential standards, as required by CRD VI transposition.
- Conclusion: Confirmation of the absence of obstacles to opening an account or obtaining a license, signed by a lawyer.
| Legal Opinion component | What Lithuanian banks check | COREDO practice example |
|---|---|---|
| UBO and KYC | Enhanced verification, sanctions screening | Client from Dubai: verification via API reduced time by 50% |
| Fit and proper | Reputation of directors, experience | Verification of 5 UBOs within a week for an EMI |
| AML/Compliance | Automated monitoring, AML manager | Integration for PSD2 Open Banking |
| Capital and risks | Minimum capital, risk-weighted assets | Optimization under CRR III for crypto |
| DORA and resilience | Outsourcing, cybersecurity | Full compliance for scaling |
Legal Opinion for EMI and crypto licenses
Licensing in Lithuania, the EU gold standard for payment services and crypto. Bank of Lithuania’s requirements for a Legal Opinion are mandatory for PI and EMI licenses. EMI requires capital of €350,000; PI requires €20,000–125,000 depending on services. A Legal Opinion for bank compliance in Lithuania confirms creditworthiness assessment, consumer lending rules and fair customer treatment.
The COREDO team helped a client from Estonia obtain a crypto license in Lithuania, integrating the Legal Opinion structure for MiCA compliance in Lithuania 2025: with a focus on governance requirements and data confidentiality.
For PSD3 changes and PSD2 Open Banking a Legal Opinion covers automated transaction monitoring, misleading marketing avoidance and a cooling-off period for loans. Our experience has shown: the ROI from a Legal Opinion for accelerating licensing in Lithuania reaches 300%, by shortening the time by 2–3 months.
From registration to scaling
Registration is just the start. In 2025, banking requirements for new companies in the EU include a business plan and proof of source of funds. COREDO предлагает полный цикл: от подбора юрисдикции (Lithuania for fintech, Cyprus for holdings) до банковский комплаенс. Мы проводим due diligence, готовим комплаенс-документы для EMI/PI в Литве и обеспечиваем долгосрочную устойчивость через Legal Opinion для PSD3 в ЕС.
Final ideas of the strategy
A Legal Opinion for CRR III compliance in Lithuania – an investment in the future. Long-term consequences of a non-compliant Legal Opinion under Basel III: account refusals, license delays and reputational losses. With COREDO you get a partner who understands the impact of a Legal Opinion on scaling fintech in the EU. We integrate KYC for corporate clients, prudential standards and solidarity contributions, ensuring transparency.