Payment Institution license in Lithuania

depositing and withdrawing cash from a payment account and related operations;

payment account management;

payment transfers and credit transfers;

issuing and managing debit cards;

standing orders;

electronic payments (e.g., using mobile phones or other smart devices)

payment initiation services;

account information services.

issue and manage electronic money;

provide electronic wallet services, which allow storing and managing electronic money;

perform currency exchange;

enable making payments using electronic money.

Our team of specialists can cover key positions such as a money laundering reporting officer, a cyber security specialist, and a compliance officer, thereby helping you to meet regulatory requirements.

In terms of documentation we will prepare the following information at the moment of submitting the application:

• application for PI;
• statement of payment the initial capital;
• copy of rent contract of office in Lithuania;
• business plan;
• internal policies such as: AML/CFT policy, risk management policy Information security policy, etc (we will prepare all necessary policies and documents for you).

The initial capital required might differ depending on the scope of services provided by the licensee:

1. in case the area of activity is limited by providing money transfers, the share capital has to be not less than 20 000 EUR;
2. in case the company intends to provide only payment initiation service, the share capital has to be not less than 50 000 EUR;
3. in order to conduct other services, the share capital has to be not less than 125 000 EUR.

We can assist you in organizing a meeting with the Bank of Lithuania, providing full legal support throughout the process. Our team will coordinate and attend the meeting with you, ensuring that all necessary documentation and procedures are in order. We will also provide guidance on the regulatory requirements and help you prepare for the meeting. With our support, you can navigate the process with confidence and increase your chances of success.

For the price of 3 000 EUR we offer:

• 16 hours of legal assistance by Lithuanian lawyer;
• 24 hours of business consultation.

For the price of 5 000 EUR we offer:

• 32 hours of legal assistance by Lithuanian lawyer;
• 48 hours of business consultation.

We provide extensive business consulting services with our experienced team and Lithuanian lawyers to support you in preparing for a successful initial meeting with the Bank of Lithuania.

Our consultation topics will include:

• comprehensive analysis of your business model;
• risk assessment of partner countries, clients, and fund flows;
• compliance evaluation with Lithuanian regulations;
• review of all necessary documents, including policies and licensing requirements;
• customized step-by-step plan and strategy for obtaining the license;
• gain all the necessary information to start your project and confidently present your business model to the Bank of Lithuania.

On this step we will assist you to establish a company in Lithuania and make all the preparations for the licensing process. We will assist you with:

• organizing a meeting with the Bank of Lithuania;
• registering a company;
• corporate account opening;
• initial capital registration;
• preparation of a business plan;
• making a decision for IT-solutions, specialists, renting an office;
• hiring of specialists.

We will manage all your documentation requirements in this step and submit the application on your behalf for regulator review, with all necessary information. In case of any questions from the regulator, we will provide our legal assistance until the moment of successfully obtaining the license.