SEMI license in Lithuania

Check the others: Liquidity for crypto exchanges
Check the others: Brokerage license in Lithuania
Check the others: Software for crypto exchangers
Check the others: Crypto license in Lithuania
Check the others: SEMI license in Lithuania
Check the others: EMI license in Lithuania
Check the others: PI&SPI license in Lithuania
Check the others: Taxes in Lithuania
Check the others: Software as a Service
Check the others: Credit cards as a service
Check the others: MetaTrader White Label
Check the others: Gambling license in Lithuania
01
35
Choose us · Choose us · Choose us ·
SEMI license in Lithuania

With its Fintech-favorable approach, transparent legal system, and steady political regime, Lithuania has obtained the status of a new Fintech hub in the EU. It provides strong organizational active encouragement in form of policies, regulations, and monetary and non-monetary help to financial businesses in their initial year in the market. At the same time, the regulative sandbox permits businesses to launch and analyze their innovative approaches in a “live” manner provided with help of the central bank (Lietuvos bankas). One of the Fintech businesses actively capturing a share in the Lithuanian financial market is a small EMI (SEMI). To take advantage of all benefits a jurisdiction offers, a company must obtain a SEMI license in Lithuania.

Peculiarities of Fintech in Lithuanian jurisdiction

  • The regulation is in the remit of the central bank which acts as a central monetary authority of the country;
  • The time to acquire authorization: 3 – 6 months;
  • Low operational expenses;
  • The first-choice country for commercial activities in the EU for firms facing troubles due to Brexit.
  • Straightforward access to SEPA and permission to offer own IBANs.
  • Business-friendly jurisdiction and continuous incentives for entities.

How to get a SEMI license in Lithuania?

Licensing as a SEMI encompasses the following steps:

  • Firstly, an interview is held with the Lithuanian Bank. This meeting is conducted with the purpose to clarify any issues and get informed what kind of activities the company plans to offer.
  • 2nd step – creating an applicatiοn for a SEMI license to the regulative agency. The process of its procession typically lasts 5 working days, during which the regulator should notify whether all the relevant papers are included in the package. If no errors are found, the application is transferred for further assessment.
  • The third phase is an assessment. The Bank checks the data and decides on the granting or refusal of authorization.
  • The last thing is approval or refusal.

Overview of obligations for SEMI license in Lithuania

  • Owners: the owners of a SEMI must get via checking with the CCSSO; it is a stand-alone procedure.
  • Staff: The entity is necessitated to have the Board (at min. 3 directors and the CEO). It must disclose data on key employees, for example, AML officers. It is required to evidence that the team possesses good knowledge and expertise.
  • Capital obligation: SEMIs do not fall within the min. initial capital condition.

Documentation for SEMI

The package of documentation for getting a SEMI license in Lithuania covers papers that:

  • Prove the legal status.
  • Prove the repaying fees for license.
  • Show further activities.
  • Prove that the average overall amount of financial liabilities related to e-money in issue will not be more than 900 000 € and the average of the foregoing year’s overall volume of transactiοns conducted by the company will not prevail at 3 million €/month.
  • Describe measures to protect client’s funds.
  • Describe the structure of the business.
  • Internal control policies and procedures.

Our company provides professional assistance in getting a small EMI license in Lithuania. We are at your service to offer you comprehensive legal, technical, and business expertise and advisory support in licensing.

Other practice areas

Feel free to contact us

Send your request for any info:

Frequently asked questions

  • To incorporate a company in any jurisdiction, please contact our specialist, we’ll send you all relevant information.

  • You can find prices for company incorporation in Prices section, to get price for other services please contact our specialist via e-mail or contact form.

  • To obtain the new license, please contact our specialist, we’ll send you requirements and list of documents needed for the procedure.

  • We have wide range of ready-made companies available, to get details about specific company, please contact our specialist.