Payment and E-money Institution Licensing in Europe

Описание: A single e-money or payment institution license for a single European market with almost 500 million customers and over 20 million businesses. Reasons why Lithuania is top jurisdiction for E-money and payment institution licensing.

Banks, payment institutions, electronic money institutions, insurance companies and insurance brokers, investment funds and investment managers, securities and forex brokers, crowdfunding and peer-to- peer platforms in Europe traditionally are subject of higher regulation and risk management requirements.

Fintech company or other finance institution registered in Lithuania provides significant competitive advantage and opens up a single European market at significantly lower incorporation and operational costs.

The reasons why Lithuania is one of the top jurisdictions in EU for finance institution licensing:

No particular requirement for company management to reside in Lithuania.
Application for a license submitted without establishing a company and freezing equity capital.
Fast licensing process.
The documents can be submitted in English.
Possibility to get own sorting codes for IBAN accounts for the clients.
Direct access to Single Euros Payment Area (SEPA) through the CENTROlink payment system managed by the Bank of Lithuania (Central Bank).
Possibility to safeguard client funds in the accounts of the Bank of Lithuania (Central Bank of EU member state).
PSD2 implementation allowing Payment Initiation Service (PIS) and Account Information Service (AIS).
License allows provision of the financial services in all European Union without any additional licensing.
No sanctions for the first year. The Bank of Lithuania is committed to support start-ups and not to issue punishment for minor infringements during the first year of operation
Startup visa. Special visas for the citizens of non-EU/EEA countries running innovative businesses.
The new Law on Crowdfunding came into the power recently, making Lithuania one of the few countries in the world having modern, clear and transparent Crowdfunding regulation.
ECOVIS International is a leading global consulting group having over 7500 professionals in over 75 countries. ECOVIS ProventusLaw is Lithuanian member firm of ECOVIS International. ECOVIS ProventusLaw provides all the necessary services for the PI, EMI licensing, including preparation of licensing documentation, representation at the Bank of Lithuania during the licensing procedure, company incorporation, office registration, advice on IT, HR, compliance and other issues rising during the incorporation of payment business in Europe. After the licensing procedure completed, ECOVIS offers accounting, reporting, audit, compliance, AML services for the operational business.

For more information contact:
ECOVIS ProventusLaw www.ecovis.lt [email protected] +370 5 212 40 84

Visit us at www.ecovis.lt

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