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
Electronic Money InstitutionMost popular license covering all payment services and safeguarding of client funds
Bank. Specialised BankUnique finance institution allowing almost all traditional banking services in EEA/EU with only 1 million Euro equity capital
MIFID Investment Advisory and Securities BrokerCost effective pan-European investment advisory and securities brokerage license under MIFID directive
Investment Management and Investment FundEfficient and cost effective pan-European investment and fund management vehicle
Consumer Credit ProviderNon-banking consumer lending license. Modern alternative to the bank financing
Insurance Company and Insurance BrokerPan-European insurance license opening European insurance market of 27 states and 450 million consumers
Cryptocurrency Exchange and Wallet LicenseCryptocurrency Exchange and Virtual Currency Depository Wallet operator license in Europe
Blockchain and Cryptocurrency LicensingLicensing solutions for blockchain, cryptocurrency, STO and token offerings
Regulatory complianceRegulatory compliance, due diligence, risk management and other services for finance institutions
IT Security OfficerIT security officer (ISO) services for organizations who work with stringent regulatory requirements
AML ComplianceA range of professional & consultative services by our AML team, including KYC, AM/TF Risk Assesment, AML audit
Bank Account Opening. EMI Agent RegistrationBank and EMI accounts opening. Clients funds safeguarding accounts for Fintech’s. PI and EMI agent registration
Knowledge without experience is of little use. Therefore we are proud of having our own valuable experience to share with you.