Lithuania is a great destination for the Electronic money institutions License in Europe.
Why is Lithuania a Great Destination for EMI License in Europe?
Lithuania has been a long-term destination for the EMI license in Europe ever since the first license was issued in April 2014. After the Cyprus banking crisis, Lithuania has been selected as the best place to conduct banking activities. Nowadays, the EMI license in Lithuania is the most popular license in Europe, with an increasing growth rate.
In recent years, there has been a great demand for the EMI license in Lithuania. With a fast-growing economy and increasing digitalization, Lithuania is one of the best places to launch a new blockchain or digital currency.
What are the Requirements for the Electronic Money Institution License in Lithuania?
- The applicant is a company or an association.
- The applicant has the capital of at least € 350 000.
- The applicant has its registered office in Lithuania.
- The applicant is not prohibited from doing business in Lithuania.
- The applicant has at least one director with a permanent residence in Lithuania.
- The majority of the directors have a permanent residence in Lithuania.
How to Become a Licensee of Electronic Money Institution in Lithuania?
- You must first apply for an EMI license in Lithuania.
- Upon approval, you will be notified of the application number and a contract of employment.
- Once employed, you will immediately be issued an EMIL ID and a swipecard.
- When accepting payments, you must scan the swipecard and enter the amount into the system.
- You may also accept cryptocurrencies as payment.
- You may also choose to hold your EMI license in a trust.
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