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New Labour Code of the Republic of Lithuania enters into force. What you should know?

It is rather short time remaining until the new Labour Code of the Republic of Lithuania enters into force (effective date is 1st July, 2017). Therefore we are sharing advice

American stock exchange giant Nasdaq welcomes Lithuania’s progress in FinTech

More competition means more innovation, and that can only be an advantage for Europe’s consumers and businesses. Lithuanian authorities do not doubt about that and continues to present itself as

Data protection in FinTech companies – time to prepair for the new regulation

FinTech industry, resulting from the strengthening of linkages between the financial services and information technology sector, is a real technological whirlwind, providing financial markets with an enormous leap in progress.

ECOVIS ProventusLaw – among the best law firms in Lithuania in “Legal 500” ranking

One of the largest international legal directory “Legal 500” published the newest law firms world ranking. Law firm ECOVIS ProventusLaw was ranked among the strongest law firms in dispute resolution,

Lithuania will take even more actions to develop the FinTech sector

Lithuanian Ministry of Finance, the Bank of Lithuania and other state institutions continue discussions about actions, which may accelerate and promote FinTech industry‘s development in Lithuania. Soon the proposals will

Seven FinTech trends this year – what could be expected?

FinTech market probably never has been on such rise as it is currently. Lithuania with the Bank of Lithuania at the forefront grasping full potential of FinTech enterprises for quite

At the meeting with the American-Lithuanian business council – attention to the FinTech sector

Lithuania continues moving to attract FinTech sector companies. New Lithuanian Finance Minister Vilius Šapoka stated that creating better conditions for the FinTech sector is a high government priority.

Employment contracts in the world: more similarities than differences

What types of employment contracts are there in various countries and what basic requirements with respect to form and content need to be observed? These were the questions which ECOVIS

European Commission will strengthen privacy in electronic communications

When you access the web, you often entrust personal information, such as your name, address, and credit card number, to your Internet Service Provider and to the website you are

Ambition of the new Minister of Economy: Lithuania – start-up paradise

Minister of Economy Mr. Mindaugas Sinkevicius does not hide his ambitions. As the new minister noted in his interview for the News Portal 15min.lt, he will do everything that Lithuania

Bank of Lithuania: we understand risks, nevertheless we will make Lithuania Fintech centre

The Chairman of the Board of the Bank of Lithuania Mr. Vitas Vasiliauskas states, that while he understands what kind of dangers establishment of small foreign financial technology companies might

Changes in personal data protection. What business needs to know?

Now that the European Parliament had approved the General Data Protection Regulation (the Regulation), which will be directly applicable in all EU Member States, it is important for businesses to

ECOVIS ProventusLaw recommendations on the new Labour Code in Lithuania

Lithuanian Parliament has adopted a new Labour Code of the Republic of Lithuania on 14th September 2016. The Labour Code will enter into force from 1st January 2017 (if the

Lithuania – a hub for FinTech companies in the European Union

With the expansion of e-commerce and alternative payment methods FinTech companies are becoming more and more active as they are looking for countries with suitable economic and political environment, even

FinTech in Lithuania: no face to face identification of customers will be needed

Lithuanian Government made one more step expecting to enhance the development of the financial technology industry (FinTech) in the country. It approved a new regulation that will better enable financial

Specialised bank – new type of financial institution in lithuania

In order to attract more financial institutions and Fintech start-ups, Lithuania introduces a new type of payment service provider – so called “specialised bank”. This amendment will come into force

ECOVIS ProventusLaw – among top legal companies

In Financial and Corporate 2017 Rankings, released by International legal directories IFLR1000, ECOVIS ProventusLaw was recognized in Banking and finance and M&A sectors.

European finance institutions registered in Lithuania

Licensing of banks, credit institutions, payment and e-money institutions, fintech companies, insurance companies, investment funds and investment management companies for the purpose of providing services in single European market.  

Importance of Anti-corruption Compliance in Business

What is “corruption”? According to Transparency International, “corruption” is defined as “the abuse of entrusted power for private gain”. Such fraudulent conduct by those in power, aimed at getting private

Licensing of payment and e-money institutions in EU

In view of the fact that since upcoming years are very likely to see a significant expansion of the Payment services and E-money markets, it is necessary to present key