Is it difficult to apply for an EU Lithuanian license? How to apply specifically?

Lithuanian EU Payment License and Electronic Money License

The Bank of Lithuania, the Central Bank of Lithuania, is the main financial supervision institution in Lithuania, which integrates the functions of the Central Bank of Lithuania and the financial supervision institution (supervision institution). Relatively loose supervision has greatly reduced the registration, licensing and maintenance costs of financial institutions, making Lithuania a region where hot financial companies are concentrated in the world.

Advantages of Lithuanian license plates:

(1) Lithuania does not specifically require the management of the company to operate locally;

(2) You don't need to register the company first to apply for a license, but you can register the company to operate after obtaining the license;

(3) Fast license processing takes about three months;

(4) The company information documents and compliance documents submitted can be in English;

(5) Remote client authentication. The innovative "know your customer" program verifies the account opening of remote customers without the need for customers to be present to handle the account;

(6) Passports of other EU jurisdictions. Passports in other EU countries are free and take one month.

(7) No sanctions will be imposed in the first year. Lithuanian bank promises to support start-ups, and in the first year of operation, if the company has minor violations, it will not be punished;

(8) apply for a visa. Customers from non-EU regions can apply for Lithuanian entrepreneurship master visa.

Lithuanian Europay license processing requirements:

Capital deposit: the capital deposit required by the Central Bank of Lithuania to pay the license. The minimum deposit is 6.5438+0.25 million euros. Before obtaining the license approval, the company does not need to pay the capital deposit. After the company obtains the license, it needs to register the company and pay the capital deposit.

Personnel requirements: the main business of the company does not need to be in Lithuania, so there is no need to recruit locally, including senior staff of the company. However, the Central Bank of Lithuania stipulates that payment institutions need a local contact person. The employee can be a compliance officer, an anti-money laundering officer or a member of the board of directors. Our company can hire this employee for you with a monthly salary of about 4000-6000 euros.

Qualifications for directors and board members: The Central Bank of Lithuania has strict auditing requirements for directors and shareholders of payment institutions, and only qualified directors and shareholders can apply for licenses for the company.

Requirements of directors: Must have a higher education background in law, management, business management or economics. In the past eight years, he has worked as an executive in a financial company with payment and related business for two years. Directors are required to submit the following personal documents:

1. Personal identification documents, such as passports;

2. Complete the questionnaire of the Central Bank;

3. Notarization without criminal record;

4. degree certificate.

The company has at least two other board members with higher education background in law, management, enterprise management or economics, and has held senior positions such as auditing, lawyers, financial practitioners and accounting for 65,438+0 years in the past five years. Board members are also required to submit the following personal documents:

1. Personal identification documents, such as passports;

2. Complete the questionnaire of the Central Bank;

3. Notarization without criminal record;

4. degree certificate.

Shareholders' requirements: If the shareholders of Lithuanian companies are companies or enterprises, the following documents are required:

1. Hague certification company registration document;

2. Financial statements and audit reports for the last three years;

3. A list of one or more managers, indicating their names, positions and the good reputation and experience of each natural person;

4. Articles of Association.

If the shareholders of a Lithuanian company are natural persons, the following documents are required:

1. Copy of passport and proof of address;

2. Fill in a complete questionnaire about the reputation and experience of natural persons;

3. Documents and data describing the financial situation:

Annual tax returns for the past three years;

1. Details of personal assets and liabilities, including available funds, movable property and immovable property,

2. Issuing and obtaining loans, issuing guarantees, guaranteeing, pledging or seizing property;

3. Proof of no criminal record in the country of residence.

The process of applying for license payment takes about 4-5 months:

(1) Prepare due diligence documents for directors and shareholders of the company to ensure that the requirements of "appropriateness and appropriateness" are met;

(2) Prepare compliance documents for license application, such as business plan, business operation mode, 3-year financial forecast, internal operation manual, combating money laundering and terrorist financing, knowing your customer process,

(3) customer contract, company structure chart, etc. ;

(4) Submit the license application to the Central Bank of Lithuania and answer all questions/opinions (if any) raised by the Central Bank on the company;

(5) Obtaining a license;

(6) registered companies;

(seven) to pay the capital deposit