Lithuania
The Institute of Electronic Money is a legal entity that provides payment services to users, specializes in the issuance of electronic money and its turnover.
The term of the EMI license is unlimited. The holder of the permit can provide payment services, as well as perform activities related to the circulation of e-currency within the EMI without having to undergo additional licensing procedures in another country located in the European Economic Area.
The advantages of obtaining a license for a payment institution in Lithuania:
- Low tax rates and low fees. The country has the lowest rates of turnover taxes and fees for obtaining a permit in the European Union and annual fees;
- No municipal fees are required;
- Getting an EMI license is easy enough;
- It is possible to obtain a startup visa;
- Participation in SEPA. Lithuania has joined the single Euro payment zone.
Authorised EMI, licensed in Lithuania, has the right to provide the following services:
- Opening payment accounts for clients (individuals and legal entities);
- Bank transfers on behalf of clients;
- Transfers without opening an account;
- Issuing payment bank cards;
- Issue of own electronic currency;
- Internet-acquiring.
Basic requirements for obtaining Authorised E-Money Issuer license in Lithuania:
- Rent of office in Lithuania;
- At least one employee - Lithuanian resident (Compliance/MLRO);
- At least one multicurrency bank account;
- No tax or other financial debts;
- Compliance with the requirements for the company's beneficiaries.
- Minimum share capital of the company: EUR 350,000.
The signed documentation shall be analyzed by the Central Bank of Lithuania within 90 days from the date of application for a license. If errors are detected in the documentation related to form and content, additional data may be required. It may be necessary to provide the corrected form in accordance with the applicable regulations. In such situations, the time of consideration should be considered from the moment the corrected and correctly prepared documents are submitted.
The cost of obtaining a license is included:
- company registration;
- preparation and filing of all necessary documents;
- assistance in preparing the Business Plan;
- preparation of AML;
- payment of state duties and fees;
- opening a current account with a local bank.
To learn more about the nuances of obtaining an EMI license in Lithuania, please contact our specialists in IT-OFFSHORE.
Ready-made companies with bank accounts
Or you've already got own business and there is a need to expand the scope of activities. To avoid the loss of time and effort to register juridical individuals, you can arrange a ready-made company. You will have a fully prepared company with a package of documents, which is mandatory for conducting a full-fledged activity.
Companies with licenses
Buying a ready-made company is the best option for operational business development in a new industry, as well as the need to expand the scope of the existing organization increase its scale. Acquisition of a company with mandatory permits and license means the ability to enter a new market in a short period of time.
Banks
Acquisition of a ready-made bank allows you to save time, as well as quickly carry out all reissuing operations. On average, the procedure takes about one day. As a result, the client becomes the head of the bank, which already has a client base, as well as status in the market and ready staff. Our company conducts all operations in accordance with existing legislation.
Funds
Investment fund is a modern investment tool designed for all types of assets. The purpose — managing of assets as well as solving number of tasks in a way that works best for individuals. There is no open subscription, meaning that a private investment fund has a closed structure. This is the most optimal solution for distributing capital through broad instruments.
SEMI for sale
When conducting business related to foreign exchange transactions, electronic money and cryptocurrencies, it may be necessary to open a financial company with a SEMI license. This type of license covers the production of debit cards and cryptocurrencies, the acceptance and sending of payments, the execution of transfers from third parties, and the opening of merchant accounts.
Crypto Offshore
When working with cryptocurrency it is important to choose the right country, where it is most profitable to open a company. Each country has a different attitude towards this type of currency. A country that has a loyal or positive attitude towards cryptocurrency can be called a crypto-offshore.
