Finance institutions licensing in a single European market

Fintech companies, banks, electronic money institutions, payment service providers, insurance companies, investment managers and investment funds, forex dealers, securities brokers and other finance institutions in Europe are subject to higher regulation and risk management requirements. Licensing of a finance institution in one of the member states within the European Economic Area (EEA)/European Union (EU) opens up business opportunities to provide services in all other EEA/EU states, enjoy benefits of a Common Market of almost 500 million wealthy consumers and over 20 million businesses.

Fintech company or other finance institution registered and licensed in Lithuania provides significant competitive advantage and opens up European financial market at a significantly lower incorporation and operational costs. Favourable regulatory environment, excellent infrastructure, the fastest internet and quality talent pool make Lithuania and primarily its capital Vilnius attractive for large international finance institutions as well as Fintech start-ups.

The official policy of the Bank of Lithuania (regulator) and the Government is a creation of regulatory environment and favourable ecosystem for foreign Fintech companies, in order to attract foreign finance institutions and FinTech start-ups into Lithuania. Regulatory behaviour and significantly lower finance institution incorporation, licensing and maintenance costs is what makes Lithuania preferred jurisdiction for the finance business people from around the world, seeking licensing for their European and global activities.

The experience by Ecovis include

Inga Karulaitytė-Kvainauskienė

Lawyer, attorney at law, partner of the law firm, CIPP/E.