Obtaining a financial license in Lithuania (EMI)

Not being an offshore jurisdiction, Lithuania welcomes the opening of new companies headed by non-residents, offering comfortable conditions for taxation and management.

If the organization’s activities involve activities and services related to financial management, to open a business in Lithuania you will need obtaining a financial license (EMI).

The E-COMMERCE BROKER company will help you successfully pass licensing when opening a bank, investment company, or other organization providing financial services.

Features of financial licensing in Lithuania?

Interest in opening a business on the territory of a European state does not wane. The development of information technology has made the organization of financial services in Lithuania more accessible and easier. Of the 83 licenses issued by the Lithuanian regulator in 2018, only 3 were related to the banking sector.

The availability of electronic services has contributed to the development of businesses related to financial services and electronic payment services. Lithuanian legislation provides for 2 license options for financial institutions:

EMI - electronic payment service;
PI is a regular payment organization.

Licensing in Lithuania is considered mandatory if the organization being opened intends to work in the field of:

Forex trading;
investing, managing and storing client securities;
currency exchange;
conducting financial transactions;
provision of credit services;
creating your own electronic money.

Before applying to the Central Bank of Lithuania for a financial license, you need to thoroughly prepare. Any non-compliance with the requirements of the Lithuanian regulator may be a reason for rejection of the application.

Requirements for an EMI licensee

That obtain a financial license in Lithuania, a number of conditions must be met:

the head office is registered on the territory of Lithuania, while the businessman has branches anywhere, including outside the state;
the authorized capital limit is determined taking into account the characteristics of the chosen financial direction - from 125 thousand euros or from 350 thousand euros (for electronic payments under the EMI license);
the position of director is occupied by a person with the status of a resident of Lithuania;
The recipient of the application must have an impeccable business reputation.

The company must appoint a director, a supervisory board, a board, and hold a meeting of shareholders. Before appointment of applicants to a management position, their candidatures must be reviewed by the main regulatory body of Lithuania.

List of required documentation for licensing financial organizations

С application for licensing submit the following package of documentation:

Copies of passport, diploma, police extract, CV for each of the company's managers.
Copies of passport, power of attorney for registration, bank statement confirming the source of funding, CV, police extract, tax return for the previous 3-5 years.
Business documentation – description of the company’s activities, transaction procedures, information exchange and business plan.

To find out the exact list of documents and certificates, you need to take into account the individual characteristics of the business by contacting E-COMMERCE BROKER for advice. Cost of obtaining a financial license in Lithuania depends on the complexity of the situation and the range of services performed. The service package includes:

registration of a legal entity in Lithuania;
collection and preparation of documentation for the Central Bank of Lithuania;
conducting consultations;
representing the interests of the applicant when obtaining a financial license;
payment of state duty.

Due to the high demand for financial services and the rapid development of remote services, financial companies in Lithuania There are quite good prospects, but to start activities you need a properly executed financial license. Experts from the E-COMMERCE BROKER Company will help you obtain the required permit within the time limits established by the laws of Lithuania.

Obtaining a financial license in Lithuania (EMI)

Features of financial licensing in Lithuania?

Licensing in Lithuania is considered mandatory if the organization being opened intends to work in the field of:

Requirements for an EMI licensee

List of required documentation for licensing financial organizations

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