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    Fintech Licensing

    Our Fintech Licensing service provides assistance to businesses seeking to obtain electronic money institution, payment institution, crowdfunding and other licenses with the Bank of Lithuania. Our experienced team will guide you through the complex process of obtaining a license and ensure that your business meets all the necessary regulatory requirements. We understand that every business is unique, and we will tailor our services to meet your specific needs. With our assistance, you can be confident that your business will be fully compliant with all applicable regulations and ready to launch your fintech solution.

    Our team of professionals includes Finance and Banking lawyers, who take care of all regulatory part, business advisory team, who assists our clients in preparation of business plans, as well as accounting team, who take care of financial projections and ongoing accounting support.

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      Why Lithuania?

      • Lithuania is a member of the European Union (EU) and the European Economic Area (EEA), making it an attractive location for companies seeking to provided their business throughout the EU;
      • One of the fastest licensing process compared with all other EU supervisory authorities;
      • The Central Bank of Lithuania operates the CENTROlink payment system, which allows fintechs established in the EU to access the SEPA and TARGET2 for various payment purposes, including IBAN, etc.;
      • The Bank of Lithuania provides a streamlined and transparent regulatory process for fintech companies seeking to obtain EMI licenses, with clear guidelines and regulations in place to ensure compliance with EU and Lithuanian law;
      • With its highly educated workforce, robust IT infrastructure, and supportive government policies, Lithuania has become a hub for fintech innovation in the region. The country is home to several notable fintech companies, including the payment processing company Paysera and the online banking platform Revolut;
      • In addition to its thriving fintech sector, Lithuania also offers a favorable environment for startups and small businesses in other industries. The country has a low cost of living, excellent infrastructure, and a high quality of life, making it an attractive location for entrepreneurs and investors alike.

      Electronic Money Institution (EMI) License

      __________________________________________

      An electronic money institution (EMI) is a financial institution that has been granted a license to issue electronic money and provide payment services. To obtain an EMI license, the applicant must meet a number of certain legal and regulatory requirements. Licensing and regulatory professionals at Fintech Balance are glad to assist you in obtaining the EMI license and guide you through out this process.

      Based on the EU Banking Authority data, Lithuania has a great regulatory environment and is considered as one of the leading Fintech Hub among other EU fintech-friendly countries.

      In order to obtain the E money License in Lithuania, applicant has to comply with the following regulatory requirements:

      1. Having a comprehensive business plan in place;
      2. Experienced and reputable key management persons;
      3. Sufficient financial resources (min. authorized share capital 350,000 EUR);
      4. Required employees in place;
      5. Internal governance policies and procedures in place;
      6. etc.

      Benefits of Establishing EMI License Lithuania

      ______________________________________________

      1. Access to the European market: Lithuania is a member of the European Union and a signatory to the European Economic Area (EEA) agreement, which means that an EMI (electronic money institution) licensed in Lithuania can offer its services throughout the European Union and the EEA;
      2. Favorable regulatory environment: The Bank of Lithuania, which is the regulator for emoney license, has created a favorable regulatory environment for fintech companies, making it easier and faster to obtain a license;
      3. Low operating costs: Lithuania offers competitive operating costs for e money license compared to other European countries;
      4. Advanced infrastructure: Lithuania has a modern and advanced IT infrastructure, which makes it an attractive location for fintech companies;
      5. Access to talent: Lithuania has a well-educated and skilled workforce, particularly in the fields of IT, legal and finance, making it easier for EMIs’ to find the right talent.

      Step Plan for Obtaining the Electronic Money Institution (EMI) License in Lithuania

      ______________________________________________

      Stage 1 – Preparation for the application

      1. Introduction to the licensing process;
      2. General advise on application process from business advisory perspective;
      3. Assessment of business model, adjustments of business model;
      4. Introductory meeting with the Bank of Lithuania (Newcomer’s Program);
      5. Establishment of physical presence in Lithuania (company, office if needed, etc.);
      6. Hiring / agreement process with the employees.

      Stage 2 – licensing process

      1. Preparation of shareholders’ and key management persons questionnaires;
      2. Obtaining required documents (ID copy; criminal record, source of funds, etc.);
      3. Preparation of all application documents, including all required internal policies and procedures;
      4. Setting up connections with 3rd party service providers (KYC, IT, etc.);
      5. Payment of license application fee;
      6. Submission of documents to the Bank of Lithuania;
      7. Questions and Answers with the Bank of Lithuania (Q&A sessions).

      Stage 3 – Setting up infrastructure of EMI

      1. Application to the CENTROlink with the Bank of Lithuania (SEPA payment system);
      2. Assistance in setting up IT infrastructure (APIs, Core Banking, etc.);
      3. Assistance in finalizing to set up compliance tools (KYC, AML screening and reporting tools);
      4. Recommendations for the banking solutions (for safeguarding of clients’ funds, operational purposes, card issuance matters, etc.).

      Most Common Services Related to EMI

      ______________________________________________

      1. Issuance of e money – issuance of electronic money under emoney license is a creation and distribution of money, which can be used as a means of payment for goods and services. At most cases this service includes creation of unique client IBAN together with the core banking platform;
      2. Initiating SEPA / SWIFT transactions – SEPA / SWIFT are two popular payment networks used for international transactions in EU and worldwide. By obtaining EMI License you may allow your client to initiate and receive transactions in different currencies, and act as a classical bank;
      3. Acquiring service – is a payment processing service, which enable businesses to accept payments from customers using various payment instruments such as credit and debit cards, mobile payments, and electronic transfers. Acquiring services typically involve processing transactions, managing payment gateways, and providing settlement services. Nowadays, commonly used for creation of fiat-crypto gateway;
      4. Issuance of a payment instruments – issuance of payment instruments includes credit and debit cards, e-wallets, prepaid cards, B4B Payments or any other instruments, which can be used for the purpose of settlement. By providing such service EMIs services may cooperate with MasterCard, Visa or crypto asset service provider to create unique product in the market. By providing payment services EMI helps business owners to accept a wide range of online payment methods;
      5. Etc.

      Brief comparison of main aspects

      ELECTRONIC MONEY INSTITUTION (EMI)

      PAYMENT INSTITUTION (PI)

      CREDIT INSTITUTION (BANK)

      Access to the CENTROlink (SEPA Payment system)

      Yes

      Yes

      Yes

      Access to the SWIFT payment system

      Yes

      Yes

      Yes

      Provide services in all EU countries (license passporting)

      Yes

      Yes

      Yes

      Incoming and outgoing transactions

      Yes

      Yes

      Yes

      Issuance of the cards

      Yes

      Yes

      Yes

      Acquiring service

      Yes

      Yes

      Yes

      Cash operations (deposit/withdrawal)

      Yes

      Yes

      Yes

      Payment initiation services / Account information services

      Yes

      Yes

      Yes

      Exchange of fiat currency

      Yes

      Yes

      Yes

      Issuance of electronic money, creating accessible IBAN

      Yes

      No

      Yes

      Providing credit services

      Yes / No

      Yes

      Yes

      Deposits or other investment services

      No

      No

      Yes

      Additional Services Related to Obtaining EMI (electronic money institution) License

      ______________________________________________

      1. Establishment of organizational structure – assistance identifying the appropriate legal structure, incorporation of holding companies in tax efficient jurisdictions, transferring companies shares, designing ownership structure, etc.;
      2. Tax advisory – guidance and advice regarding tax obligations and liabilities, minimizing tax liabilities from cross-border activities, creating a tax planning strategy, etc.;
      3. Preparation of internal documentation – preparation of tailor made AML / CTF Policy with Annexes, Terms & Conditions, Privacy Policy, Cyber Security Policy, etc.;
      4. Assistance in hiring employees – guidance and support to employers who are looking to hire new staff. Such service includes potential employees background / knowledge check, interviewing, establishment of employment policies and procedures, etc.;
      5. Assistance in creating partnerships – support and advisory in various potential partnerships and collaborations with other entities in terms of additional services (e. g., IT, KYC, banking service providers) or additional financing (e. g., organizing meetings with VC, agnel investors, preparation of pitch deck, etc.);
      6. Legal support in crypto related projects – assistance in token offering legal support (ICO/STO/IEO), private placement rounds, preparation of legal opinions, analysis of business models, etc.

      For more please see our Services page.

      Payment Institution (PI) License

      ______________________________________________

      A payment institution (PI) or Payment Service Provider (PSP) is a financial institution that has been granted a license to provide payment services. To obtain an PI license, the applicant must meet a number of certain legal and regulatory requirements. Licensing and regulatory professionals at Fintech Balance are be glad to assist you in obtaining the PI license or PSP license in Lithuania and guide you through out this process.

      Based on the European Banking Authority data, Fintech Lithuania has a great regulatory environment and is considered as one of the leading Fintech Hub among other EU fintech-friendly countries.

      In order to obtain the payment institution (PI) or payment service provider (PSP) in Lithuania, applicant has to comply with the following regulatory requirements:

      1. Having a comprehensive business plan in place;
      2. Experienced and reputable key management persons;
      3. Sufficient financial resources (min. authorized share capital vary from 20,000 EUR to 125,000 EUR);
      4. Required employees in place;
      5. Internal governance policies and procedures in place, etc.;

      Benefits of Establishing Payment Institution (PI) in Lithuania

      ______________________________________________

      1. Access to the European market: Lithuania is a member of the European Union and a signatory to the European Economic Area (EEA) agreement, which means that an PI licensed in Lithuania can offer its services throughout the EU and EEA without any limitations;
      2. Favorable regulatory environment: The Bank of Lithuania, which is the regulator for PSP license, has created a favorable regulatory environment for fintech companies, making it easier and faster to obtain a license;
      3. Low operating costs: Lithuania offers competitive operating costs for PIs compared to other European countries;
      4. Advanced infrastructure: Lithuania has a modern and advanced IT infrastructure, which makes it an attractive location for fintech companies;
      5. Access to talent: Lithuania has a well-educated and skilled workforce, particularly in the fields of IT, legal and finance, making it easier for PIs to find the right talent.

      Step Plan for Obtaining the Payment Institution (PI) License in Lithuania

      ______________________________________________

      Stage 1 – Preparation for the application

      1. Introduction to the licensing process;
      2. General advise on application process from business advisory perspective;
      3. Assessment of business model, adjustments of business model;
      4. Introductory meeting with the Bank of Lithuania (Newcomer’s Program);
      5. Establishment of physical presence in Lithuania (company, office if needed, etc.);
      6. Hiring / agreement process with the employees.

      Stage 2 – licensing process

      1. Preparation of shareholders’ and key management persons questionnaires;
      2. Obtaining required documents (ID copy; criminal record, source of funds, etc.);
      3. Preparation of all application documents, including all required internal policies and procedures;
      4. Setting up connections with 3rd party service providers (KYC, IT, etc.);
      5. Payment of a license application fee;
      6. Submission of documents to the Bank of Lithuania;
      7. Questions and Answers with the Bank of Lithuania (Q&A sessions).

      Stage 3 – setting up infrastructure for PI / PSP license

      1. Application to the CENTROlink with the Bank of Lithuania (SEPA payment system);
      2. Assistance in setting up IT infrastructure (APIs, Core Banking, etc.);
      3. Assistance in finalizing to set up compliance tools (KYC, AML screening and reporting tools);
      4. Recommendations for the banking solutions (for safeguarding of clients’ funds, operational purposes, card issuance matters, etc.).

      Most Common Services of Payment Institution (PI)

      ______________________________________________

      1. Initiating SEPA / SWIFT transactions – SEPA / SWIFT are two popular payment networks used for international transactions in EU and worldwide. By obtaining EMI license you may allow your client to initiate and receive transactions in different currencies, and act as a classical bank;
      2. Acquiring service – is a payment processing service, which enable businesses to accept payments from customers using various payment instruments such as credit and debit cards, mobile payments, and electronic transfers. Acquiring services typically involve processing transactions, managing payment gateways, and providing settlement services. Nowadays, commonly used for creation of fiat-crypto gateway;
      3. Issuance of a payment instruments – issuance of payment instruments includes credit and debit cards, e-wallets, prepaid cards or any other instruments, which can be used for the purpose of settlement. By providing such service EMIs may cooperate with MasterCard, Visa or crypto asset service provider to create unique product in the market;
      4. Etc.

      Brief comparison of main aspects

      ELECTRONIC MONEY INSTITUTION (EMI)

      PAYMENT INSTITUTION (PI)

      CREDIT INSTITUTION (BANK)

      Access to the CENTROlink (SEPA Payment system)

      Yes

      Yes

      Yes

      Access to the SWIFT payment system

      Yes

      Yes

      Yes

      Provide services in all EU countries (license passporting)

      Yes

      Yes

      Yes

      Incoming and outgoing transactions

      Yes

      Yes

      Yes

      Issuance of the cards

      Yes

      Yes

      Yes

      Acquiring service

      Yes

      Yes

      Yes

      Cash operations (deposit/withdrawal)

      Yes

      Yes

      Yes

      Payment initiation services / Account information services

      Yes

      Yes

      Yes

      Exchange of fiat currency

      Yes

      Yes

      Yes

      Issuance of electronic money, creating accessible IBAN

      Yes

      No

      Yes

      Providing credit services

      Yes / No

      Yes

      Yes

      Deposits or other investment services

      No

      No

      Yes

      Additional Services Related to Obtaining Payment Service Provider (PSP) License 

      ______________________________________________

      1. Establishment of organizational structure – assistance identifying the appropriate legal structure, incorporation of holding companies in tax efficient jurisdictions, transferring companies shares, designing ownership structure, etc.;
      2. Tax advisory – guidance and advice regarding tax obligations and liabilities, minimizing tax liabilities from cross-border activities, creating a tax planning strategy, etc.;
      3. Preparation of internal documentation – preparation of tailor made AML / CTF Policy with Annexes, Terms & Conditions, Privacy Policy, Cyber Security Policy, etc.;
      4. Assistance in hiring employees – guidance and support to employers who are looking to hire new staff. Such service includes potential employees background / knowledge check, interviewing, establishment of employment policies and procedures, etc.;
      5. Assistance in creating partnerships – support and advisory in various potential partnerships and collaborations with other entities in terms of additional services (e. g., IT, KYC, banking service providers) or additional financing (e. g., organizing meetings with VC, agnel investors, preparation of pitch deck, etc.);
      6. Legal support in crypto related projects – assistance in token offering legal support (ICO/STO/IEO), private placement rounds, preparation of legal opinions, analysis of business models, etc.

      For more please see our Services page.

      Crowdfunding Platform License

      ______________________________________________

      A Crowdfunding License in Lithuania allows a business to legally operate as a crowdfunding service provider within the European Union. Once you have a Crowdfunding License, you may provide a possibility for individuals or businesses to raise funds from multiple investors for a specific project or venture.

      In the EU, crowdfunding is regulated by the EU Crowdfunding Regulation which came into effect in 2021. The EU Crowdfunding Regulation regulates the provision of crowdfunding services across the EU, and requires platforms to be authorized or registered with the relevant national competent authorities (e. g., in the Bank of Lithuania). Licensing and regulatory professionals at Fintech Balance are be glad to assist you in obtaining the Crowdfunding Platform License license in Lithuania and guide you through out this process.

      Based on the European Banking Authority data, Lithuania has a great regulatory environment and is considered as one of the leading Fintech Hub among other EU fintech-friendly countries.

      In order to obtain the Crowdfunding Platform License in Lithuania, applicant has to comply with the following regulatory requirements:

      1. Having a comprehensive business plan in place;
      2. Experienced and reputable key management persons;
      3. Sufficient financial resources (min. authorized share capital EUR 25,000);
      4. Required employees in place;
      5. Internal governance policies and procedures in place, etc.

      Benefits of Establishing Crowdfunding Platform in Lithuania

      ______________________________________________

      1. Access to the European market: Lithuania is a member of the European Union and a signatory to the European Economic Area (EEA) agreement, which means that an Crowdfunding Platform licensed in Lithuania can offer its services throughout the EU and EEA without any limitations;
      2. Favorable regulatory environment: The Bank of Lithuania, which is the regulator for Crowdfunding Platform, has created a favorable regulatory environment for fintech companies, making it easier and faster to obtain a license;
      3. Low operating costs: Lithuania offers competitive operating costs for Crowdfunding Platform compared to other European countries;
      4. Advanced infrastructure: Lithuania has a modern and advanced IT infrastructure, which makes it an attractive location for fintech companies;
      5. Access to talent: Lithuania has a well-educated and skilled workforce, particularly in the fields of IT, legal and finance, making it easier for Crowdfunding Platform Operators to find the right talent.

      Step Plan for Obtaining the Crowdfunding Platform Operator License in Lithuania

      ______________________________________________

      Stage 1 – Preparation for the application

      1. Introduction to the licensing process;
      2. General advise on application process from business advisory perspective;
      3. Assessment of business model, adjustments of business model;
      4. Introductory meeting with the Bank of Lithuania (Newcomer’s Program);
      5. Establishment of physical presence in Lithuania (company, office if needed, etc.);
      6. Hiring / agreement process with the employees.

      Stage 2 – licensing process

      1. Preparation of shareholders’ and key management persons questionnaires;
      2. Obtaining required documents (ID copy; criminal record, source of funds, etc.);
      3. Preparation of all application documents, including all required internal policies and procedures;
      4. Setting up connections with 3rd party service providers (KYC, IT, etc.);
      5. Payment of a license application fee;
      6. Submission of documents to the Bank of Lithuania;
      7. Questions and Answers with the Bank of Lithuania (Q&A sessions).

      Stage 3 – setting up infrastructure of Crowdfunding Platform

      1. Assistance in setting up IT infrastructure (APIs, etc.);
      2. Assistance in finalizing to set up compliance tools (KYC, AML screening and reporting tools);
      3. Recommendations for the banking solutions (for safeguarding of clients’ funds, operational purposes, card issuance matters, etc.);
      4. Finalization of internal documents.

      Most Common Services of Crowdfunding Platform Operator

      ______________________________________________

      1. Granting the loans – facilitation of granting of loans, which includes the provision of relevant information such as default rates of loans;
      2. Distribution (placing) of transferable securities –  without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes and the reception and transmission of orders in relation to those transferable securities and admitted instruments;
      3. Additional related services:
        1. Asset safekeeping;
        2. Payment services;
        3. Use of special purpose vehicles for the provision of crowdfunding services;
        4. Application of credit scores to crowdfunding projects;
        5. Suggestion of the price and / or the interest rate of crowdfunding offers;
        6. Operating a bulletin board;
        7. Establishing and operating contingency funds.

      Additional Services Related to Obtaining Crowdfunding Platform License 

      ______________________________________________

      1. Establishment of organizational structure – assistance identifying the appropriate legal structure, incorporation of holding companies in tax efficient jurisdictions, transferring companies shares, designing ownership structure, etc.;
      2. Tax advisory – guidance and advice regarding tax obligations and liabilities, minimizing tax liabilities from cross-border activities, creating a tax planning strategy, etc.;
      3. Preparation of internal documentation – preparation of tailor made AML / CTF Policy with Annexes, Terms & Conditions, Privacy Policy, Cyber Security Policy, etc.;
      4. Assistance in hiring employees – guidance and support to employers who are looking to hire new staff. Such service includes potential employees background / knowledge check, interviewing, establishment of employment policies and procedures, etc.;
      5. Assistance in creating partnerships – support and advisory in various potential partnerships and collaborations with other entities in terms of additional services (e. g., IT, KYC, banking service providers) or additional financing (e. g., organizing meetings with VC, agnel investors, preparation of pitch deck, etc.);
      6. Legal support in crypto related projects – assistance in token offering legal support (ICO/STO/IEO), private placement rounds, preparation of legal opinions, analysis of business models, etc.

      Financial Brokerage Firm License

      ______________________________________________

      A Financial Brokerage Firm License allows business to act as a broker or intermediary in the buying and selling of financial assets. With this license, a company can provide services such as creating a platform for buying and selling stocks, bonds, and other securities on behalf of clients, as well as providing investment advice and managing portfolios. Licensing and regulatory professionals at Fintech Balance are be glad to assist you in obtaining the Financial Brokerage Firm License in Lithuania and guide you through out this process.

      Based on the European Banking Authority data, Lithuania has a great regulatory environment and is considered as one of the leading Fintech Hub among other EU fintech-friendly countries.

      In order to obtain the Financial Brokerage Firm License in Lithuania, applicant has to comply with the following regulatory requirements:

      1. Having a comprehensive business plan in place;
      2. Experienced and reputable key management persons;
      3. Sufficient financial resources (min. authorized share capital EUR 75,000);
      4. Required employees in place;
      5. Internal governance policies and procedures in place, etc.;

      Benefits of Establishing Financial Brokerage Firm in Lithuania

      ______________________________________________

      1. Access to the European market: Lithuania is a member of the European Union and a signatory to the European Economic Area (EEA) agreement, which means that an Financial Brokerage Firm licensed in Lithuania can offer its services throughout the EU and EEA without any limitations;
      2. Favorable regulatory environment: The Bank of Lithuania, which is the regulator for Financial Brokerage Firm, has created a favorable regulatory environment for fintech companies, making it easier and faster to obtain a license;
      3. Low operating costs: Lithuania offers competitive operating costs for Financial Brokerage Firm compared to other European countries;
      4. Advanced infrastructure: Lithuania has a modern and advanced IT infrastructure, which makes it an attractive location for fintech companies;
      5. Access to talent: Lithuania has a well-educated and skilled workforce, particularly in the fields of IT, legal and finance, making it easier for Financial Brokerage Firm to find the right talent.

      Step Plan for Obtaining the Financial Brokerage Firm License in Lithuania

      ______________________________________________

      Stage 1 – Preparation for the application

      1. Introduction to the licensing process;
      2. General advise on application process from business advisory perspective;
      3. Assessment of business model, adjustments of business model;
      4. Introductory meeting with the Bank of Lithuania (Newcomer’s Program);
      5. Establishment of physical presence in Lithuania (company, office if needed, etc.);
      6. Hiring / agreement process with the employees.

      Stage 2 – licensing process

      1. Preparation of shareholders’ and key management persons questionnaires;
      2. Obtaining required documents (ID copy; criminal record, source of funds, etc.);
      3. Preparation of all application documents, including all required internal policies and procedures;
      4. Setting up connections with 3rd party service providers (KYC, IT, etc.);
      5. Payment of a license application fee;
      6. Submission of documents to the Bank of Lithuania;
      7. Questions and Answers with the Bank of Lithuania (Q&A sessions).

      Stage 3 – setting up infrastructure of Crowdfunding Platform

      1. Assistance in setting up IT infrastructure (APIs, etc.);
      2. Assistance in finalizing to set up compliance tools (KYC, AML screening and reporting tools);
      3. Recommendations for the banking solutions (for safeguarding of clients’ funds, operational purposes, card issuance matters, etc.);
      4. Finalization of internal documents.

      Types of Financial Brokerage Firm License

      ______________________________________________

      Type A financial brokerage license with a minimal share capital requirement of EUR 750,000. This is the broadest type of license allowing to provide all investment services, specifically:

        1. acceptance and transmission of orders;
        2. execution of orders at the expense of customers;
        3. conclusion of transactions on own account;
        4. management of the portfolio of financial instruments;
        5. providing investment recommendations;
        6. signing and/or distribution of financial instruments under the obligation to distribute them;
        7. distribution of financial instruments without an obligation to distribute them;
        8. administration of the multilateral trade system;
        9. administration of the organized trade system.

      Type B financial brokerage license with a minimal share capital requirement of EUR 150,000. Under this license the company is authorised to provide the following services:

        1. acceptance and transmission of orders;
        2. execution of orders at the expense of customers;
        3. management of the portfolio of financial instruments;
        4. providing investment recommendations;
        5. distribution of financial instruments without an obligation to distribute them;
        6. administration of the multilateral trade system;
        7. administration of the organized trade system.

      Type C financial brokerage license with a minimal share capital requirement of EUR 75,000. Under this license the company is authorised to provide the following services:

        1. acceptance and transmission of orders;
        2. execution of orders at the expense of customers;
        3. management of the portfolio of financial instruments;
        4. providing investment recommendations;
        5. distribution of financial instruments without an obligation to distribute them.

      Additional Services Related to Obtaining Financial Brokerage License 

      ______________________________________________

      1. Establishment of organizational structure – assistance identifying the appropriate legal structure, incorporation of holding companies in tax efficient jurisdictions, transferring companies shares, designing ownership structure, etc.;
      2. Tax advisory – guidance and advice regarding tax obligations and liabilities, minimizing tax liabilities from cross-border activities, creating a tax planning strategy, etc.;
      3. Preparation of internal documentation – preparation of tailor made AML / CTF Policy with Annexes, Terms & Conditions, Privacy Policy, Cyber Security Policy, etc.;
      4. Assistance in hiring employees – guidance and support to employers who are looking to hire new staff. Such service includes potential employees background / knowledge check, interviewing, establishment of employment policies and procedures, etc.;
      5. Assistance in creating partnerships – support and advisory in various potential partnerships and collaborations with other entities in terms of additional services (e. g., IT, KYC, banking service providers) or additional financing (e. g., organizing meetings with VC, agnel investors, preparation of pitch deck, etc.);
      6. Legal support in crypto related projects – assistance in token offering legal support (ICO/STO/IEO), private placement rounds, preparation of legal opinions, analysis of business models, etc.

      For more please see our Services page.

      FAQ’s

      Electronic Money Institution License

      An electronic money institution is a financial institution that has an e money license and issues electronic money or conducts other related activities, such as providing payment services. Companies seeking to provide these services need to obtain an EMI license from the Bank of Lithuania, one of the leading EMI licensing authorities in the EU.

      To operate as an EMI (electronic money institution) in Lithuania, a company must obtain an electronic money institution license from the Bank of Lithuania. This EMI license allows companies to offer a range of payment services, including IBAN and SEPA transfers.

      The advantages of obtaining an EMI license in Lithuania include a quick licensing process, access to the CENTROlink payment system, a test development environment for fintech companies, and the availability of remote client verification technology for account opening. In addition, Lithuania has a favorable regulatory environment for fintech companies and is home to several prominent EMI banks, making it an attractive location for companies seeking an EMI license.

      The licensing process in Lithuania is quicker than in other EU countries, and typically takes between 3-9 months. However, the exact timeline can vary depending on the complexity of the application and the number of supporting documents required.

      The requirements for obtaining an EMI license in Lithuania include meeting capital requirements, having a suitable business plan, ensuring the management board and key personnel meet the fit and proper requirements, and demonstrating compliance with anti-money laundering and other regulatory requirements. Companies seeking an EMI license in Lithuania should also be prepared to undergo a rigorous due diligence process, which includes a review of the company’s financial and operational systems.

      The application process for obtaining an EMI license in Lithuania includes submitting a detailed business plan, demonstrating compliance with regulatory requirements, and completing an assessment of the management board and key personnel. Companies seeking an EMI license in Lithuania should also be prepared to provide detailed financial projections and other supporting documentation. Once the application is submitted, the Bank of Lithuania will review the application and make a decision on whether to grant the EMI license.

      Payment Institution License

      A payment institution (PI) license or payment service provider (PSP) license is a permit issued by the Bank of Lithuania that allows businesses to provide payment services to their clients.

      To obtain a payment institution license in Lithuania, the applicant must comply with specific regulatory requirements, including having a minimum capital requirement of EUR 20,000 – 125,000, having a physical presence in Lithuania, and having a management team with sufficient knowledge and experience in the payment services sector, etc.

      The licensing process can take around 6 months, depending on the complexity of the application and the completeness of the documentation submitted.

      With a payment institution (PI) license or payment service provider (PSP) license companies can offer a variety of payment services, including money transfers, payment card issuance, payment processing, and currency exchange services.

      The benefits of obtaining a payment institution license in Lithuania include access to the SEPA payment system, lower licensing fees compared to other EU countries, and a favorable regulatory environment.

      Crowdfunding Platform License

      A crowdfunding platform operator is a business that offers a platform for individuals or organizations to raise funds from a large number of people, usually through the specific platform. The operator provides the infrastructure, such as the website and payment processing, to facilitate the crowdfunding campaign.

      Lithuania offers two types of crowdfunding platform operator licenses: investment-based crowdfunding and loan-based crowdfunding.

      The requirements for obtaining a crowdfunding platform operator license in Lithuania include having a registered legal entity in Lithuania, meeting the minimum capital requirements, and having a business plan that complies with Lithuanian crowdfunding laws and regulations.

      The timeframe for obtaining a crowdfunding platform operator license in Lithuania depends on several factors, such as the completeness of the application, the complexity of the business model, and the workload of the regulatory authority. However, the licensing process typically takes between three to six months.

      Financial Brokerage Firm License

      A Financial Brokerage Firm is a company that provides investment services to clients, such as brokerage, portfolio management, and investment advice. A Financial Brokerage Firm license allows a company to legally operate as a financial intermediary in Lithuania.

      To obtain a Financial Brokerage Firm license, a company must meet certain requirements set forth by the Bank of Lithuania, including having a minimum share capital of €75,000 (depending on the services to be provided), having qualified management and staff, and having adequate risk management systems in place. The company must also submit a detailed business plan and pass a fit and proper test for key personnel.

      The licensing process for a Financial Brokerage Firm can take anywhere from six months to a year or more, depending on the complexity of the application and the completeness of the documents submitted.

      Lithuania is an attractive destination for financial services companies due to following reasons:

      1. favorable regulatory environment;
      2. affordable and skilled workforce (IT, legal, finance);
      3. license in Lithuania allows a company to operate as a regulated financial intermediary in the European Union, providing access to the EU market and passporting rights to other EU member stat;
      4. Easy to cooperate with other professional service providers due to well-developed financial infrastructure and Lithuania’s Fintech Hub status.
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