04/12/2018 The State Data Protection Inspectorate of the Republic of Lithuania has published 20 minimum organizational and technical requirements and measures aimed at protecting personal data in each organization. These
12/04/2018 A major international legal directory “Legal 500” recently published newest law firm ranking according to which ECOVIS ProventusLaw remains among the best law firms in following rankings: – Banking,
06/04/2018 European Commission takes actions to promote Europe as a more attractive place for start-ups by introducing new regulations on crowdfunding. Commission has proposed a draft regulation to enable crowdfunding
12/02/2018 The fact about Lithuania as one the most favourable and friendly jurisdiction for FinTech companies, planning to offer payment service across the EU is spreading out. 30 electronic money
22-01-2018 UAB “ConnectPay”, for which ECOVIS ProventusLaw has assisted in acquiring an electronic money institution license, has successfully completed the entire licensing process. The Board of the Bank of Lithuania
23/11/2017 “BREXIT means BREXIT, everywhere. Those who claim that the UK should pick parts of the single market must stop this contradiction. The single market is a package, with four
During preparation to apply the EU legislation of direct application – General Data Protection Regulation (the “Regulation”) starting 2018 May 25th in Lithuania, as in other Member States of the
22-11-2017 The Bank of Lithuania (financial regulator) has opened up the possibility for the banks and non-banking financial institutions to offer their clients the most cutting-edge innovation in the field
2017-11-13 The Bank of Lithuania issued a payment institution license for a Chinese investor company UAB “Vanepay”. This news is the focused result of a work with emerging markets in South
2017-10-30 The central Bank of Lithuania seeks to attract financial technologies (FinTech) companies from China. This week the Bank of Lithuania initiated seminar in Beijing (China), where Lithuania’s FinTech potential
“InstaReM”, well-known Singapore-based financial technology (FinTech) company, is entering the European market via Lithuania. The regulator Bank of Lithuania issued an Electronic Money Institution (EMI) license to “InstaReM”, which is
Lithuania continues to improve regulation of financial services and will allow for FinTech companies to try the regulatory sandbox. The Bank of Lithuania (Regulator) aims to provide the best possible
24-07-2017 Lithuanian authorities making further steps to turn Lithuania into one of the most attractive jurisdictions for banks and finance institutions in the European Union and European Economic Area (EU/EE).
It is rather short time remaining until the new Labour Code of the Republic of Lithuania enters into force (effective date is 1st July, 2017). Therefore we are sharing advice
More competition means more innovation, and that can only be an advantage for Europe’s consumers and businesses. Lithuanian authorities do not doubt about that and continues to present itself as
FinTech industry, resulting from the strengthening of linkages between the financial services and information technology sector, is a real technological whirlwind, providing financial markets with an enormous leap in progress.
One of the largest international legal directory “Legal 500” published the newest law firms world ranking. Law firm ECOVIS ProventusLaw was ranked among the strongest law firms in dispute resolution,
Lithuanian Ministry of Finance, the Bank of Lithuania and other state institutions continue discussions about actions, which may accelerate and promote FinTech industry‘s development in Lithuania. Soon the proposals will
FinTech market probably never has been on such rise as it is currently. Lithuania with the Bank of Lithuania at the forefront grasping full potential of FinTech enterprises for quite
Lithuania continues moving to attract FinTech sector companies. New Lithuanian Finance Minister Vilius Šapoka stated that creating better conditions for the FinTech sector is a high government priority.