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E-money Institution license in Lithuania

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Are you planning to start a business that offers services related to the use of electronic money? That’s a great idea! Electronic money is widely used in online payments, e-commerce, mobile payments, and other areas of financial transactions. It is a highly profitable direction for both startups and existing businesses looking to enhance efficiency and financial returns.

To join this cluster as a legitimate and respected member, you will need a license, such as the Lithuania EMI license.

Opportunities of a Licensed Business

Licenses offer broad opportunities:

  • They allow companies or organizations to issue, manage, and process electronic money on their platform.
  • Licenses enable companies to legally provide electronic money services and operate in accordance with financial regulations and regulatory requirements.
  • They enhance your reputation in the eyes of both service users and potential partners, as the license confirms that your company complies with the mandatory rules, thereby ensuring user security, transparency, and protection of their interests.

Finexmo: Effective Solution for All Matters

International consulting company Finexmo offers assistance in obtaining the E-money license in Lithuania.

  • We have complete and up-to-date information on the procedure and requirements for obtaining this license.
  • We can quickly bring your business into compliance with all the requirements and rules for license applicants.
  • We are ready to guide your business through all licensing procedures, providing consultations and practical assistance in preparing the necessary documents and applications.

Legal Support from Finexmo:

  • Consultations on all licensing matters
  • Analyzing the company’s business model
  • Developing recommendations for compliance with standards and rules set by the regulator
  • Preparing a business plan
  • Developing customer operating rules
  • Representation of your company’s interests before the Lithuanian regulator
  • Submission of license application
  • Facilitating necessary communication and document flow with the regulator
  • Development of necessary documentary and legal procedures
  • Implementation of these procedures within the company
  • Protection of company interests
  • Legal defense and consultations in case of disputes, issues, or non-compliance within the licensed activities
  • Representation of company interests in legal or administrative proceedings.

The legal support provided by Finexmo may vary in scope and nature depending on the needs and specifics of your business. Please contact us to discuss specific questions.

Technical support from Finexmo:

  • Technical infrastructure audit
  • Evaluation of existing systems and providing recommendations for their improvement
  • Payment solutions implementation
  • Cybersecurity and data protection
  • Implementation of measures to establish reliable customer data protection
  • Ensuring compliance with cybersecurity requirements, including data encryption, two-factor authentication, security monitoring, etc
  • Testing and auditing of systems and processes to identify potential vulnerabilities and inconsistencies
  • Assistance in organizing training programs and materials for staff
  • Recruitment of necessary specialists in the Lithuanian job market

Is your question not on the list? We recommend contacting Finexmo specialists directly to receive specific recommendations.

Electronic Money Institution License (EMI)

What will happen if you contact Finexmo right now for legal and technical assistance in obtaining an EMI license to become a Lithuanian electronic money institution?

  1. Our specialists will prepare all the necessary documentation.
  2. You will need to meet the requirements for initial capital of 350,000 euros and maintain a reserve capital, the amount of which will be discussed separately.
  3. After a few months, the coveted license will be added to your company’s list of achievements!
  4. And now, the most exciting part!

The range of services provided by your company can significantly expand:

  • Electronic payment services
  • Management and storage of electronic money
  • Money transfers
  • Currency exchange

You can even create your own electronic money. This level of financial independence was previously only available to kings! With an EMI license, you can not only fulfill this bold dream but also become more independent from traditional financial systems.

Your business will join the ranks of progressive forces in innovation and technological progress. How will you realize your potential in the field of various digital platforms and blockchain technologies? Will it be the creation of new and innovative payment methods? Financial management processes and the provision of financial services? The choice is entirely up to you!

Agree, such opportunities open up broad prospects for your business. Do not let your competitors have a chance to start using them before you. To ensure that you do not miss the opportunity to use your finances more wisely, reach out to Finexmo to learn more about our service of selling Lithuania EMI license for sale.

Payment Institution License (PI)

Are you planning to apply for a payment institution license? Such ambitions deserve the most serious support, which Finexmo is ready to provide you with.

Despite the less stringent capital requirements for a PI (Payment Institution), starting from 20,000 euros for money transfer services and increasing depending on the additional services you provide compliance with regulatory standards remains crucial. At Finexmo, we understand the importance of complying with regulatory requirements and can help you navigate them, ensuring the smooth and secure operation of your company.

Obtaining this license will enable your company to:

  • Conduct electronic payments
  • Facilitate fund transfers
  • Perform currency exchange

Agree, such opportunities give your business significant competitive advantages. To gain access to them, all you need to do is get in touch with us. By collaborating with Finexmo, your company has a real opportunity to become a full participant in the regulated e-money market and start providing financial services in accordance with established rules.

Obtaining a license in Lithuania: Benefits in numbers

4 – the position occupied by Lithuania in the global fintech technology ranking.

4.2 – Lithuania’s innovation index according to the Global Innovation Index 2020, highlighting a favorable innovation environment.

6 – the number of universities in Lithuania offering educational programs in the field of fintech technology.

7 – the number of specialized financial technology zones in Lithuania, providing an innovative environment for business development.

20+ – the number of countries with mutual recognition of electronic money licenses with Lithuania.

30 – the number of international payment systems available in Lithuania.

40+ – the number of countries where Lithuanian IBAN can be used for electronic payments.

210 – the number of fintech companies operating in Lithuania as of the end of 2019.

15% – the corporate income tax rate in Lithuania, making the country attractive for business development in the field of electronic money.

98% – the coverage of the Lithuanian population by banking sector services, ensuring wide accessibility to electronic payments.

100% – the state guarantee of deposits in Lithuania, ensuring the safety of financial transactions.

€15,000 – the maximum annual fee for an electronic money license in Lithuania.

€30,000 – the minimum insurance capital required to obtain an electronic money license in Lithuania.

€100,000 – the maximum amount of guaranteed compensation in the event of a bank’s insolvency in Lithuania.

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