Law firm in Lithuania

Finance institutions and Fintech licensing in the single European financial market

Fintech companies, banks, electronic money institutions, payment service providers, insurance companies, securities brokers and investment advisors, crypto service providers and other financial institutions in Europe and rest of the world are subject to higher regulatory and risk management requirements.

Licensing of a financial institution in one European member state within the European Union (EU)/European Economic Area (EEA) opens up business opportunities to provide services in all other states, enjoying benefits of the worlds biggest common market of 450 million wealthy consumers and over 20 million businesses.

Purchasing of existing PSP, EMI or other financial institution may save lot of time required for the licensing, business set up and allows start business operations faster. ECOVIS will advise you select the right acquisition target and guide you during the company acquisition process.

After the adoption of pan-European MiCA regulation allowing crypto service passportization in EU/EEA ECOVIS advice Crypto Asset Service Providers (CASP) on MiCA compliance and conversion of their existing licenses in to the European passportable crypto licenses.

For non-European payment and money service business we currently recommend Canadian Money Service Business (MSB) license.

ECOVIS is the leading global consulting group with over 9000 professionals operating in more than 90 countries around the world. Deep local knowledge in every country where ECOVIS office is located and international expertise of the interdisciplinary network of ECOVIS International professionals allows selection of the right licensing jurisdiction for every financial business. Below you will find short descriptions of licensing solutions and services offered by ECOVIS.

The experience of ECOVIS ProventusLaw includes the following

Data Protection in FinTech Companies

Data Protection requirements for FinTech companies

Mergers and Acquisitions in Financial sector

Business financing. Public offering of securities. Venture capital funds. Special support program for Fintech Start-ups.

Inga Karulaitytė-Kvainauskienė

Lawyer, attorney at law, partner of the law firm

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