17/05/2019 After less than 1 year from the General Data Protection Regulation (hereinafter – GDPR) entry into force, State Data Protection Inspectorate (hereinafter – Inspectorate) imposed first significant fine for
10/05/2019 Swiss company SONECT AG, managing payment application, which allows customer to deposit and withdraw money in convenient access points free of charge, have chosen Lithuania for its activity in
12/04/2019 ECOVIS ProventusLaw remains in the top law offices in it’s main areas of expertise – banking, finance and capital markets, dispute resolution, labour law, real estate and construction as
State Data Protection Inspectorate has approved the list of data processing operations subject to the requirement to perform a Data Protection Impact Assessment.
22/02/2019 From the 1st of March 2019 the procedures of foreigners arriving to Lithuania for non-highly qualified jobs become way easier. Employers will no longer need to provide documents, confirming
18/02/2019 Lithuania‘s efforts and attention to money laundering and measures to combat such illicit activities was acknowledged by Moneyval, the Committee of Experts on the Evaluation of Anti-Money Laundering Measures
22/01/2019 After the UK Parliament rejected the Brexit Agreement terms proposed by the Prime Minister, companies which transfer personal data to this country in some way should pay attention.
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
28/01/2019 UK-based financial technology giant Revolut has obtained a Specialized Bank license in Lithuania. The license issued by the European Central Bank together with Bank Lithuania will allow the company
