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BANK ACCOUNT OPENING. CLIENT FUNDS SAFEGUARDING ACCOUNTS. PI AND EMI AGENT REGISTRATION

The banks and financial institutions in the European Union are subject to strict anti-money laundering and other prudential regulations. As a result, opening a bank account in Eurozone is a complex procedure requiring specific knowledge and experience.

An account opened in the European financial institution allows fast and easy payment processing at low cost in all SEPA countries without any restrictions as home country payments. Payment and Electronic Money Institution Agent registration allows provision of the services and opening of IBAN accounts for own clients under the partner PI or EMI license without any additional licensing.

ECOVIS ProventusLaw provides services of the bank and electronic money account opening as well as segregated (correspondent) client funds safeguarding accounts for financial institutions and FinTechs in the European banks. Payment Institution and Electronic Money institution Intermediary Agent or Distributor registration is a part of our service.

Kęstutis Kvainauskas

Lawyer, attorney at law, partner of the law firm.

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