FinTech companies, banks, electronic money institutions, payment service providers, insurance companies, investment advisors, securities brokers and other finance institutions in Europe are subject to higher regulation and risk management requirements. Licensing of a finance institution in one of member state within the European Union and European Economic Area (EU/EEA) opens up business opportunities to provide services in all other EU/EEA states enjoying benefits of the World’s biggest common financial market of 450 million wealthy consumers and over 20 million businesses.
FinTech company or other finance institution licensed in Lithuania provides significant competitive advantage and opens up common European financial market at a significantly lower incorporation and operational costs. Favorable regulatory environment, excellent finance infrastructure and quality talent pool make Lithuania and primarily its capital Vilnius attractive for large international finance institutions as well as FinTech start-ups. Currently Lithuania is No 1 EU/EEA jurisdiction in number of issued payment and electronic money institution licenses.
The official policy of the Bank of Lithuania (regulator) and the Government is a creation of regulatory environment and favorable ecosystem for foreign finance institutions and FinTech start-ups into Lithuania. Regulatory behavior and significantly lower finance institution incorporation, licensing and maintenance costs make Lithuania European jurisdiction opening common European financial market for the companies from around the World.
Licensing solutions and compliance services we offer described in FinTech section.
Free initial advice:
Kestutis Kvainauskas Partner, Attorney at Law Phone: +370 5 212 40 84