Financial services, licensing and compliance
ECOVIS ProventusLaw advises on issues of finance law and licensing of financial services, as well as payments, e-money, investment management and other similar issues. It is one of our key practice areas marked by significant achievements and tasks which do not stop at the borders of Lithuania or EU.
The lawyers of the law firm have incorporated various financial institutions from those operating on the Lithuanian market to financial institutions registered and licensed in Lithuania but operating on the financial markets of EU countries, they have also set up the first modern index investment fund registered in Lithuania IKKB NSEL 30 Indekso fondas and its management company UAB Investicijų portfelių valdymas and the first specialised investment fund in Lithuania ZPR Amerikos mažos kapitalizacijos bendrovių akcijų atviras investicinis fondas investing in US shares.
The lawyers of the law firm have also gained considerable experience in assessing legal risks pertaining to financial activities or financial operations, in representing clients in relations with the Bank of Lithuania, the Financial Crime Investigation Service and other surveillance authorities as well as in advising on e-payment issues. ECOVIS ProventusLaw assists in obtaining funding, advises on the issuance, registration and listing of shares, bonds and other securities, IPOs and other issues related to public trading in securities. Where certain issues span multiple jurisdictions we offer the assistance of partners from the international ECOVIS network operating in over 60 countries worldwide.
ECOVIS ProventusLaw has prepared a special service package for foreign (non-EU) companies intending to provide payment, e-money, investment management and other similar services on the territory of the EU. This service package includes licensing of companies in Lithuania so that they could provide services throughout the EU and benefit from the advantages offered by the single market and the single payment area existing in the EU.
The clients of ECOVIS ProventusLaw appreciate the benefits offered by the expertise of the ECOVIS network coupled with strong knowledge of individual business sectors and acute understanding of the situation in Lithuania demonstrated by our lawyers. Our experts are often asked to clarify issues of the provision of financial services, as well as regulatory and licensing issues, by companies operating in the financial services, IT and telecommunications sectors, in which our lawyers have considerable experience and know-how.
We work with both recognised market leaders and with small innovative companies, which still have to make their way to success. Among others, we have represented Alternative Payments, a company registered in California, US, offering online payment solutions to clients throughout the globe, which used our services to establish its unit in Lithuania for conducting operations in Europe; one of the largest telecommunications companies, which was assisted by us in obtaining from the Bank of Lithuania a licence for conducting payment operations; as well as small Lithuanian and foreign start-ups licensed in Lithuania and providing services throughout the EU.
The experience of ECOVIS ProventusLaw includes the following
Incorporation and registration of financial institutionsThe lawyers of ECOVIS ProventusLaw incorporate various payment institutions, e-money, investment management companies and other financial institutions intending to operate both in Lithuania and in the EU. Our lawyers have incorporated various financial institutions ranging from those operating on the Lithuanian market to financial institutions registered and licensed in Lithuania but operating on the financial markets of EU countries.
Payments and e-moneyThe lawyers of ECOVIS ProventusLaw assist companies operating both in Lithuania and in any other EU member states in obtaining licences for payment institutions and e-money operations. With the assistance of our partners from the international ECOVIS network we can incorporate a company and obtain a licence required by our client in virtually any country in which our client has business interests.
Investment management and investment fundsThe lawyers of ECOVIS ProventusLaw draft incorporation documents and represent clients in the formation of various investment funds, investment companies, pension funds, other collective investment undertakings and their management companies. In the formation process, we focus in particular on establishing effective cooperation between an investment fund or a management company and the market regulator, i.e. the Bank of Lithuania.
Securities and capital marketsECOVIS ProventusLaw advises on issues of issuance, registration and listing of shares, bonds, derivative instruments and other securities, IPOs and on other issues related to public trading in securities.
Business finance and venture capitalECOVIS ProventusLaw represents its clients in drawing funding for operations of companies and for individual business projects. In addition to traditional loans from credit institutions, our clients use other business finance instruments such as issuance and public offering of securities as well as facilities offered by venture capital funds. The law firm has developed a special support programme for small companies (start-ups) operating in the sectors of online payments as well as IT and telecommunications.
Knowledge without experience is of little use. Therefore we are proud of having our own valuable experience to share with you.