Financial license in Lithuania

ADVANTAGES OF OBTAINING A LICENCE IN LITHUANIA

Registering a payment system in Lithuania opens up many new prospects for international businesses development. This licence makes it possible 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.

No licence is required for most business activities in this country. However, it is definitely needed for establishing:

investment company;
credit institution;
financial institution.

COST OF OBTAINING A LICENCE IN LITHUANIA

The price for the service of obtaining a payment licence in Lithuania depends on several factors. The basic package includes, for example, the preparation of statutory documents, business plan drafting, legal support, etc. However, an individual approach to each client also implies a personalized price offer based on a set of services. We would be happy to negotiate a price during a free consultation.

FEATURES OF OBTAINING A LICENCE IN LITHUANIA

Payment system licence in Lithuania is issued by the Central Bank of Lithuania.
Payment system licence in Lithuania is issued for an indefinite period.
Possibility to handle both fiat and electronic money.
Possibility to carry out a passport procedure in other EU countries – payment institution, e-money institution, etc.

REQUIREMENTS WHEN APPLYING FOR A LICENCE

When applying for this type of licence, a company has to meet a number of requirements. The standard list of requirements is as follows.

Registered physical office within the borders of the Republic (subsidiaries are not subject to this rule).
Paid-up share capital.
Competent persons in the management of the company are to have management and financial market experience.
Head of the company has to be a resident of Lithuania (no restrictions in terms of work experience).
Technical, human and organisational prerequisites.

We would be happy to arrange a personal consultation to overview the entire list of requirements.

DOCUMENTS AND INFORMATION NECESSARY FOR OBTAINING A LICENCE IN LITHUANIA

Business plan including a financial plan for 1 year (small payment institute and small electronic money institute) and for 3 years (payment institute and electronic money institute).
Documents on the persons included in the company structure.
Software description.
Developed internal procedures – AML/Compliance, etc.

We would be happy to arrange a personal consultation to overview the entire list of documents and information.

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OBTAINING A FINANCIAL LICENCE IN LITHUANIA