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 financial institutions in Europe are subject to higher regulatory and risk management requirements. Licensing of a financial 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 financial institution registered and licensed in Lithuania provides significant competitive advantage and opens up the European financial market at a significantly lower incorporation and operational costs. Favourable regulatory environment, excellent infrastructure, 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 establishes regulatory environment and favorable ecosystem for foreign Fintech companies, in order to attract foreign financial institutions and Fintech start-ups to Lithuania. Regulatory behaviour 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 of ECOVIS ProventusLaw includes the following

Inga Karulaitytė-Kvainauskienė

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