EMI license in Lithuania. Electronic Money Institution

Lithuania provides PSP or E money payment system licence, which opens up a big list of payment options for you, depending on your choice of licence. Our specialists will be happy to provide you with services relating to obtaining payment system licences.

According to 2021 data, Lithuania is the leader among EU fintech-friendly countries in terms of the number of Electronic Money Institution/Payment Service Provider registered companies.

Submit an application for E money license in Lithuania Submit an application

Electronic Money Institution license is a regulatory licence issued by the Bank of Lithuania which is required for any company or organisation that provides electronic money services in Lithuania.
In order to obtain the e money license, the applicant must meet strict requirements, the main criteria include the following:

  • the applicant has the resources necessary to achieve his objective;
  • the applicant must demonstrate compliance with all applicable laws and regulatory enactments;
  • the applicant demonstrates sound business practices;
  • the applicant has the necessary experience to carry out electronic money transactions.

Advantages of obtaining the EMI license in Lithuania:

The licensing process is quicker than in other EU countries.

The Central Bank of Lithuania has developed and manages the CENTROlink payment system. This system allows technical access to SEPA and TARGET2 for various payment service providers.

Fintech companies have access to a test development environment in which they can conduct their own tests under the full control of the regulatory authority.

In Lithuania, remote client verification technology is available, which allows accounts to be opened without physical presence.

Lithuania is a small and fast-growing economy that has been successful in transitioning from Soviet-era industries to a modern, service-driven economy. The country’s tech scene is especially booming: the capital city of Vilnius was recently named the fastest growing startup ecosystem in the world, with over 400 tech startups launching in the city in just one year. Additionally, Lithuania’s business climate is favorable for entrepreneurs. The World Bank’s Doing Business Report listed Lithuania as one of the top ten reformers in their 2019 report.



AdamSmith carries out a pre-licensing process which includes the following:

  • General advice on the EMI licensing process
  • Initial assessment of the necessary infrastructure
  • Preparation of a business plan, preliminary financial projections
  • Preparing for the first meeting with representatives of the Bank of Lithuania
  • Establishment of a local company and assistance in opening a bank account to contribute authorised capital
  • Human resources (at least 4 employees must be in Lithuania) – assistance in the process of hiring the necessary personnel; drafting of employment agreements
  • Finding premises (main office should be in Lithuania)

AdamSmith assists in the licensing process according to the following steps:

  • Preparation of legal, financial and IT documents (incomplete list):
    1. Description of the management structure
    2. Documentation compliance (AML/KYC/KYT, etc.)
    3. Operational risk procedures
    4. IT procedures
  • Application for the EMI
    1. Applying for the EMI
    2. Representation and assistance throughout the licensing process
    3. Payment of state duty

This step is necessary for the licence holder to be fully operational and to be able to initiate activities. The results include the following:

  • Installation of IT systems – mediation to find an IT systems provider and/or IT assistance; system development to meet electronic money institution licence requirements
  • Compliance – advising and training staff on the KYC process, AML screening tools and terrorist financing prevention in accordance with project specifications
  • Banking partner – to fulfil clients’ funds segregation requirements, to make transfers of currency and/or cross-border transfers and to provide other financial services.

It should also be kept in mind that once launched, the project needs to be supported, the support includes:

  • Accounting services
  • Auditing
  • Opening of insurance accounts
  • Connection to the SWIFT payment system
  • Agreement to issue own-brand MasterCard cards
  • Receiving BIC/SWIFT and LEI codes
  • Regular reporting to the Bank of Lithuania
  • Applying for activities in other jurisdictions (including passporting)
  • Advice on emerging issues from the Bank of Lithuania


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1. Preparation of documents 2. Licensing 3. Setup of infrastructure
1-2 months 2-3 months 2-3 months
on request on request on request

Additional charges

Additional charges for the initial project setup can be up to 50 thousand euros + authorised capital contribution of 125 thousand euros or 350 thousand euros

The above charges do not include the cost of the following possible additional costs/capital requirements incurred by the Client:
~ € 1500

State duties for applying for the EMI

~ € 3000

Legalisation of documents required for company registration and licensing procedures

€ 125.000 - € 350.000

The capital required for the PSP-E money license


IT solution for business tasks and its monthly maintenance

from € 6000 per month

Salaries of the general manager and other staff

from € 600 per month

Office rent


Accounting and auditing


other representational expenses

Electronic Money Institution license capabilities

An e money licence can provide his clients with different product lines.

IBAN accounts in euros

The e money license holder can create individual IBAN accounts for clients

Instant SEPA payments

PSP/EMI allows you to make instant SEPA payments via the CENTROlink system of the Central Bank of Lithuania.

Short-term loans

EMI makes it possible to offer loans in Europe at lower interest rates than anywhere else in the world

Cross-border payments

EMI can offer payments outside the SEPA zone or in other currencies through partner banks.

Multi-currency electronic wallets

EMI can safely store client’s funds in a variety of currencies using partner banks.


EMI makes it possible to process credit or debit card payments on behalf of the seller.

Currency exchange

EMI allows you to offer the exchange of different currencies at more favorable rates from different partner banks and other payment systems

Issuance of cards (prepaid; debit)

EMI allows to issue prepaid/debit payment cards: Visa, MasterCard, etc.

E money licence opportunities compared to classic banks

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Bank Electronic money license (EMI) Payment service provider (PSP)
Payment system of the Central Bank (for settlements in euros in the SEPA zone) Yes Yes Yes
Payment services/money transfers (incoming and outgoing) Yes Yes Yes
Exchange of fiat currency Yes Yes Yes
EU passport to provide services in all EU countries Yes Yes Yes
Issuance of electronic money (opening of multi-currency accounts, electronic wallets) Yes Yes No
Crediting of legal entities and natural persons Yes Yes / No Yes
Deposits for legal entities and natural persons Yes No No
Investment services, clearing, issuance of securities Yes No No

Submit a license application

Send us an application and our experts will send you a detailed quotation for obtaining an EMI license in Lithuania and advise you on additional questions, procedure and timing.

Request a proposal for the EMI license in Lithuania Receive a proposal
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