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 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.