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Key Details of this Lithuanian VASP: Licensed VASP: Established in 2021 with full authorization from FNTT. Banking Setup: Active PSP account with a Lithuanian EMI for smooth operations, and a local bank account for tax and salary payments. Financial Stability: No loans or debts, in good standing, compliant with AML/KYC regulations. Legal and Operational Support:…
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South Africa FSP License Bank Account: Includes one local bank account. Personnel: Local director and Key Individual (KI) available to stay post-sale. Transfer Timeline: Quick transfer—1 week for CIPC, 3 weeks for FSCA. Mauritius Full Service Dealer License Bank Accounts: Corporate and client accounts at MauBank. Capital Requirement: €24,000 Total Investment: €227,800 (inclusive of setup…
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+1 (888) 647 05 40Process of getting a permit to conduct business-activities in payment-field is characterized by a highly-complex organizational and legal structure. Successful completion is based on a clearly-understanding of formally-set norms, rules and conditions for getting relevant SPI-license, and knowledge of case-law of chosen jurisdiction. Here, we consider features and characteristics of Lithuania. For non-banking local establishments, there’re various categories of permits regulating various aspects of their business-activities, including payments. Choice of a specific permit is often determined by size of organizations and their specifics.
Our team is made up of highly-qualified professionals possessing extensive expertise and professional backgrounds in field of launching and licensing firms worldwide. We’re ready to help you in any aspect of getting SPI-license. Our team provides option of a SPI license in Lithuania for sale.
Small firms (with low gross incomes) planning to legally operate payment systems are recommended to obtain SPI license in Lithuania. Such permit is needed to process, store and transmit data. Our team is ready to provide professionally-qualified assistance in preparing and submitting an application for a Small PI-license. Our experts possess essential expertise in this field and help you get a permit. If you have any questions regarding official launching of PI-organizations or other aspects, our experts are ready to provide detailed consultancy and assistance to achieve your goal.
SPI-license is authorization issued to SP-institutions allowing them to spread limited spectrum of services without the need for fully-covering certification as a PI. These establishments conduct payments on a small scale compared to fully-authorized institutions (APIs). For a SP-institution, monthly transaction amount shouldn’t exceed 3 mln EUR. Because of limited scope of operations, SPI-licensees are covered by less stringent regulative norms.
While SPIs need to still be registered with relevant national regulators, they’re typically covered by less stringent supervision than fully-authorized PIs. Nevertheless, SPIs aren’t permitted to provide payment initiations or account informational services, whereas fully-authorized payment institutions may provide both.
We’re ready to advise you on any issues related to this permit. Particularly, our professionals tell you about TOP-5 jurisdictions for getting an SPI-license. We possess a favorable offer for sale of small payment institution license in Lithuania.
Rules for applicants may vary from country to country. With introduction of pan-European Directive, rules and norms for participants in payment-market have been standardized. In Lithuania these parameters are as next-mentioned.
It’s essential to pay serious attention to carefully-preparing mandatory documentation to obtain small payment institution license in Lithuania. You’ll need documentation from register and materials describing organizational structure, including data about banking accounts, processing centers, settlement banking establishments and others. Additionally, applicants need to indicate which payment tools he/she intends to use for making monetary transfers.
We’ll help in bringing your business-project into correspondence with normative parameters and regulative standards. Our team is ready to offer you option of Lithuanian SPI license company for sale.
Option to get small payment institution license in Lithuania opens up possibilities to spread a wide services spectrum.
But you should bear in mind plenty of restrictions a firm operating with SPI-license faces. One of key restrictions is need to meet principle of regionality; it means the firm needs to possess mandatory registration locally. To run business-activities outside this country, appropriate agreements might be concluded with partners. It’s essential to remember next-mentioned: there’re restrictions on volume of transactions during month-period.
For those seeking to get such permits, rules are more stringent compared to other spaces. Having received appropriate permission, firms won’t be able to spread services for storing funds and issuing e-money. Each application is carefully reviewed by local supervisory authority and modifications are often needed during reviewing process, and provision of supplemental documentation.
Getting this permit may be a lengthy and complex procedure. Interested entrepreneurs may turn to such option as ready-made Lithuania SPI license company.
Key challenges are usually related to need to:
Another difficulty may be long time it takes for application to be reviewed and regulative body to make a decision. In this case, it’s mandatory to prepare to provide supplemental documentation and detailed answers to questions arising from authorities.
Our team is ready to offer you fully-covering assistance in implementing your commercial ideas. We possess plenty of ready-made offers for SPI-licenses in the Czech Republic, Germany, Portugal and others. Our professionals provide you with fully-answering assistance in getting SPI-license in Lithuania.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.