Eternity Law International — Payment & E-Money Institutions — Payment license in Lithuania

Payment license in Lithuania

Published:
June 2, 2020

Payment license in Lithuania – at the moment, the option of obtaining such a license may be more profitable than the UK.

No, not so long ago it was Misty Albion that was considered the center of Europe when it came to economics and finance.

The benefits were undeniable. But Brexit made its adjustments. Many modern businessmen have begun to look for other jurisdictions operating in Europe.

Lithuania in this regard confidently acts as an indicative example.

Below in the text you can find out whether it is worth getting a payment license in one of the Baltic countries, about what conditions must be met in case of a positive decision, and the benefits of such a development.

FEATURES OF PAYMENT LICENSE IN LITHUANIA

England lost her position in connection with the exit from the European Union. In turn, this allowed other European countries to attract entrepreneurs. What exactly is it about?

Companies with a British license now fear the possibility of losing the ability to accept and send payments (as well as other financial transactions) within the EU.

At the moment, the mechanism is not fully adjusted, so there are a lot of questions. Therefore, in order not to lose their position in the world market, businessmen decide to issue a payment license in Lithuania.

The Baltic country meets businessmen in this decision. The ability to remotely submit documents greatly simplifies the procedure.

Today, many companies operating at the international level choose Lithuania as the country where they can quickly and easily issue a payment license. In particular, we are talking about entrepreneurs from China.

LITHUANIAN PAYMENT LICENSE: “PLUSES”

Among the wide range of advantages, the following can be distinguished:

  • one license to operate throughout Europe;
  • access to a safe and stable Lithuanian payment system;
  • the ability to remotely resolve all organizational issues;
  • issue of payment cards for any needs (private and corporate options);
  • support in the implementation of business projects.

LITHUANIA: HOW TO GET A PAYMENT LICENSE

The main conditions that must be met:

  • 350 thousand euros – the minimum capital;
  • only positive reputation;
  • practical experience necessary to perform tasks in accordance with the field of activity;
  • insurance of businessman’s funds or their storage in a separate account;
  • the country must have a representative of the administrative apparatus.

The list of advantages confidently indicates that the registration of a payment license in Lithuania is of interest to an increasing number of entrepreneurs. Special attention is paid to the possibility of remote clearance and access to national payment systems.

Our company has repeatedly provided services for issuing a payment license both in Lithuania and in other countries. We offer a turnkey solution.

The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.

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