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Obtaining a financial license in Lithuania (EMI)

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

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

Features of financial licensing in Lithuania?

The interest in starting a business on the territory of the European state continues unabated. The development of information technology has made it more accessible and easier to organize financial services in Lithuania. Out of 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 impetus for the development of business related to financial services and electronic payment services. Lithuanian legislation provides 2 options for licenses for financial institutions:

  • EMI - electronic payment service;
  • PI is an ordinary payment organization.

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

  • Forex trading;
  • investing, managing and holding clients' securities;
  • currency exchange;
  • conducting financial transactions;
  • provision of credit services;
  • creating your own electronic money.

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

EMI Licensee Requirements

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 peculiarities 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 held 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 manager, supervisory board, management board, and hold a meeting of shareholders. Prior to the appointment of candidates for a leadership position, their candidacy must be reviewed by the main regulatory body of Lithuania.

List of required documents for licensing financial institutions

С licensing application submit the following documentation package:

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

To find out the exact list of documents and certificates, it is necessary to take into account the individual characteristics of the business by contacting E-COMMERCE BROKER for advice. The cost of obtaining a financial license in Lithuania depends on the complexity of the situation and the set of services being performed. The package of services includes:

  • registration of a legal entity in the territory of Lithuania;
  • collection and preparation of documentation for the Central Bank of Lithuania;
  • 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 quite good prospects, but, to start activities, you need a well-formed financial license. The experts of the E-COMMERCE BROKER Company will help you to obtain the required permit within the time frame established by the laws of Lithuania.

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