Why ECOVIS

ECOVIS International is a leading global consulting firm with over 5000 lawyers, tax advisors, auditors and other professionals operating in 68 countries. ECOVIS ProventusLaw is the Lithuanian member firm of ECOVIS International.

ECOVIS experience in consulting and licensing international clients goes back to the incorporation of the first modern NSEL 30 Index fund in Lithuania and the fund’s management company 15 year ago. A few years later ECOVIS ProventusLaw assisted in licensing a specialised US securities investment fund – ZPR US Small Cap Value Fund for the US-based investment manager ZPR International.

ECOVIS group invited international FinTech companies to Lithuania even before the Bank of Lithuania and the Government launched the “Fintech Heaven” initiative in Lithuania.

We licensed the European branch of the California based e-payment company Alternative Payments in 2014, servicing over 100 000 websites around the world. Alternative Payments currently holds a Lithuanian license for their pan-European business. We serviced the global financial advisor deVere Group getting a license for their global activities, advised national post operator AB Lietuvos Paštas and the leading mobile telecommunications service provider UAB Omnitel getting their licenses.

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We mediated the Singapore-based Senjo Group global holding company in 2017, who specialize in payment services and financial technology, with the acquisition of Finolita Unio, which has a payment institution license.

Recently, ECOVIS ProventusLaw aquired an electronic money institution licence for Singapore-based InstaReM, which operates in more than 50 countries. ECOVIS offices in Lithuania, Singapore, Luxembourg and Germany assisted InstaReM, so this project was most definitely international.

Currently we service clients from continental Europe, the UK and USA, Canada, China, Hong Kong, Israel, UAE, Singapore and the Philippines. We do not differentiate between experienced international finance institution providing services around the globe and FinTech start-up making their first steps into the European financial market. We welcome everybody and we are ready to assist.

ECOVIS professionals advise governmental working groups improving the regulatory environment for finance institutions in Lithuania and focusing it for pan-European needs. ECOVIS ProventusLaw has established the FINTECH HUB LT association together with 6 FinTech enterprises licensed in Lithuania.

It intends to contribute to the creation of favourable conditions for the activities of financial technology industry players, seeking to make Lithuania a traction centre for the financial technology industry throughout the European Union.

_jbm2215Our common aim is to make Lithuanian an even better jurisdiction for finance institutions providing services in a single European market. If you really believe that our existing regulations do not meet your requirements and you know how to make things better, please do not hesitate to contact our FinTech team.

Our FinTech community and regulator welcome all the new ideas and proposals on improving existing regulation. International FinTech is part of the Government policy in Lithuania. Development of a FinTech-conducive regulatory and supervisory ecosystem as well as fostering innovation in the financial sector are two of the Bank of Lithuania’s strategic directions for 2017–2020. Together with other state authorities, the Bank of Lithuania aims to create a FinTech-friendly environment that will attract new companies and encourage them to incubate new products in Lithuania.

As an interdisciplinary network of legal, audit and tax professionals, ECOVIS advises on all aspects of finance institution incorporation and licensing process, including preparation of the business plan, tax advice and human resources.

ECOVIS handles all licensing processes, from documentation preparation in a client’s home country, until the submission to full licensing package submission to the regulator and representation to the regulator. We believe that the knowledge and international expertise of the interdisciplinary network of ECOVIS International professionals can meet all the requirements of business finance people from around the world.

Our worldwide ECOVIS network with offices in 68 countries provides clients the possibility to work through their home country ECOVIS office. You can get a license for your European finance business without leaving your home city.

Local knowledge in the home country and international expertise of the international network of ECOVIS professionals ensure fast and efficient services for the client. This makes ECOVIS different from other service providers.

More about FinTech licensing – www.ecovis.lt/fintech

More about ECOVIS experience – https://ecovis.lt/fintech/why-lithuania/