Eternity Law International — News — EMI License in Lithuania

EMI License in Lithuania

Published:
September 27, 2022

Although Lithuania is not an offshore country, non-residents often open businesses here. The jurisdiction opens up many commercial opportunities for entrepreneurs and offers favorable tax rates for business development. The financial sector of Lithuania is quite well developed, in particular, the jurisdiction is friendly and progressive towards electronic means of payment. To fully conduct activities related to e-money, you must obtain a special EMI license.

Our company is ready to provide you with professional assistance in establishing and licensing companies in various commercial areas. We offer a wide range of ready-made licenses for sale, in particular, Forex license in Labuan, gambling permit in Malta, crypto license in Estonia, etc. Our specialists are true professionals in their field, aimed at achieving the most effective results for you.

Prospects for registered EMI-business in Lithuania

Lithuania is a country in Europe that offers good conditions for FinTech enterprises wishing to license an EMI firm for business in the EU. The features and advantages of establishing and licensing this kind of company there are as follows.

  1. The regulatory body in the country is the Central Bank.
  2. The process of obtaining a permit takes from 3 months to six months.
  3. Minimum expenses for maintaining the company.
  4. Favorable banking environment.
  5. Possibility to open IBAN through the Bank of Lithuania API.
  6. Connection to SEPA.
  7. Government assistance for startups.

Lithuania has a well-developed Fintech sector, offering good business conditions, a stable economic situation and effective political mechanisms. There are 39 payment companies and 74 EMI firms operating in the jurisdiction. In total, more than 230 firms conduct their finance-related activities in this country.

The jurisdiction strongly supports Fintech firms during the first 12 months of their operation. In addition, the Central Bank provides the opportunity for developers of new financial products to test them in reality under the leadership of the Central Bank.

Types of Fintech licenses in Lithuania

Lithuanian law offers financial companies to obtain one of the following types of licenses:

  • payment institution (PI);
  • e-money institution (EMI);
  • small payment institution (SPI);
  • small electronic money institution (SEMI).

It is important that the country distinguishes 2 main types of licensing – EMI and PI. But at the same time, regulatory authorities often recommend the first type.

Our specialists are ready to help you obtain any type of permit and take on all the most complex aspects of licensing. In addition, we offer a high quality consulting service range. Our lawyers will tell you why you should register a brokerage company in Serbia, open a crypto business in Estonia, become a casino owner in Malta and much more.

Features of financial licensing in Lithuania

The jurisdiction is attracting more and more investors from different parts of the world. Innovation is constantly evolving here, making the financial industry more accessible and simplified. Obtaining a license for a financial business in Lithuania is a mandatory condition for the further operation of companies that are engaged in:

  • Forex trading;
  • investment, management and custody of securities;
  • foreign currency exchange;
  • carrying out any transaction related to money;
  • lending;
  • issuance of e-money.

Before applying to the Central Bank of Lithuania with an application for licensing a company, you must first familiarize yourself with all the nuances and collect a full package of documents. Any error in filling out the paperwork or lack of information may result in refusal to issue a license. Our lawyers are passionate about helping you along the way.

Normative points and standards for an EMI-licensee

In order for the regulatory authorities of the jurisdiction to issue you the appropriate permit to operate in Lithuania, you must fulfill all the requirements for the company to comply with this license:

  • register a physical office in the country. At the same time, the company’s branches can be located anywhere, even abroad;
  • pay for the authorized capital, which ranges from 125 thousand euros, depending on the scale of the business and the services offered;
  • appoint a local director who is a resident of the country;
  • ensure a transparent and decent reputation for yourself and the company.

The company must appoint a manager, a board of directors, a management board and hold a meeting of shareholders. Before appointing managers, it is necessary to submit their resume to the regulator for approval.

List of required documentation for licensing financial organizations

The following documents must be submitted with the application for a license:

  • copies of identity cards, diplomas, police extracts, resumes of each person who will manage the enterprise;
  • power of attorney for registration;
  • a bank statement that confirms the source of funds;
  • tax return for the previous 3-5 years;
  • documents for the company: detailed job description, list of operations, business plan, etc.
  • Regulators may also request additional documents, depending on the type of company and the service range it plans to provide.

Our specialists will help you accurately collect all the required certificates, extracts and related papers, and will also advise you in detail on all the nuances of obtaining an EMI-license.

Since the demand for financial services is constantly increasing, EMI-companies in Lithuania have very good development prospects, the main thing is to properly register the business and obtain all the required permits. The experienced lawyers of our firm will help you with this.

Taxation

According to the standard, income tax in Lithuania is 15%. All profits of the enterprise are taxed:

  • from commercial activities;
  • passive income;
  • active income;
  • capital gains.

When calculating tax rates, all expenses that are associated with the operation of the company are deducted.

Tax on dividends is also 15%. But at the legal level you can get benefits for holdings. The EMI-company in Lithuania has the right to pay dividends without paying tax exclusively to legal entities if the company owns at least 10% of the shares of the subsidiary for 12 months. The benefit cannot be used if the company that distributes the dividends has not paid the 15% income tax.

Dividends for companies that are residents of Europe are at a zero rate. There is a tax on interest – 15%, but companies that employ less than 10 people and receive an income of less than 1 million Lithuanian litas per year pay a reduced rate – 5%.

What is included in our services

Our company’s employees are true masters of their craft. We offer our clients only first-class services for company registration and licensing in Lithuania and other jurisdictions.

  1. Opening enterprises in any country.
  2. Licensing and obtaining all permits for doing business.
  3. Collecting, filling out and submitting all necessary documentation to the regulator.
  4. Opening an account in any banking institution.
  5. Selection of office and employees, creation of reports.
  6. Ready-made companies for sale.
  7. Additional services.
  8. Professional consultations.

We guarantee the quality of our work and quick results. The company’s employees will take care of all organizational issues and assistance with regulatory authorities.

How much does a forex license cost in Lithuania?

The price of licensing a financial company in Lithuania is calculated individually, depending on the business goals and the number of services provided. Our lawyers will draw up a full estimate for all services before the start of cooperation, so that you know exactly what to expect. All calculations will be made with the maximum savings of your budget.

Our advantages

Our company has been in the licensing market for a long time, so it has managed to gain a wonderful reputation and many satisfied customers. We guarantee professionalism and quality of work in cooperation. Our task is to find an individual solution for each client in order to optimize the budget as much as possible and license your business in a short time.

  1. Only experienced specialists.
  2. Thousands of positive feedback from cooperation.
  3. Many years of work experience in different countries.
  4. Large selection of corporate services.
  5. Focus on fast and effective results.

The lawyers of our company will do everything possible to simplify the work of your enterprise as much as possible and quickly obtain all the required permits for doing business.

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