Finance institutions and Fintech licensing in the single European financial market

Fintech companies, banks, electronic money institutions, payment service providers, insurance companies, investment managers and investment funds, Forex dealers, securities brokers and other finance institutions in Europe are subject to higher regulatory and risk management requirements. Licensing of a finance institution in one of the member states within the European Union (EU)/European Economic Area (EEA) opens up business opportunities to provide services in all other EU/EEA states, enjoying benefits of the Worlds biggest common market of 450 million wealthy consumers and over 20 million businesses. Fintech company or other finance institution registered and licensed in Lithuania provides significant competitive advantage and opens up European financial market at a significantly lower incorporation and operational costs. Favorable regulatory environment, excellent infrastructure, the fastest internet and quality talent pool make Lithuania and primarily its capital Vilnius attractive for large international finance institutions as well as Fintech start-ups. The official policy of the Bank of Lithuania (regulator) and the Government is a creation of regulatory environment and favorable ecosystem for foreign Fintech companies, in order to attract foreign finance institutions and Fintech start-ups into Lithuania. Regulatory behavior and significantly lower finance institution incorporation, licensing and maintenance costs makes Lithuania preferred jurisdiction for the finance business people from around the world, seeking licensing for their European and global activities.

The experience by ECOVIS ProventusLaw includes

Inga Karulaitytė-Kvainauskienė

Lawyer, attorney at law, partner of the law firm

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