Obtaining an EMI (Electronic Money Institution) license is an important step for companies that want to work in the field of electronic payments and financial services. Lithuania has been one of the leaders in the number of EMI licenses issued in Europe for several years due to its transparent regulatory system, support for fintech companies and convenient geographical location.

What is an EMI license and why is it needed?

The EMI license allows the company to issue electronic money, as well as provide payment services. This can be useful for those who want to:

• Create e-wallets.
• Issue prepaid cards.
• To carry out payment transactions.
• Open accounts for clients.

Lithuania attracts companies with its simplified licensing process, relatively low costs and an open approach by regulators. If you are looking for an opportunity to start or expand your business in the EU, an EMI license in Lithuania can be an excellent solution.

What requirements do I need to meet?

To get an EMI license Lithuania, you need to meet certain requirements. Here are the basic steps:

1. Establishment of a company in Lithuania. The license is issued only to legal entities registered in the country. This means that you need to open a company that meets local requirements.
2. The authorized capital. The minimum amount of the authorized capital is 350,000 euros for the EMI license. The funds must be confirmed by documents on the origin of the capital.
3. Availability of employees and an office. The company must have a physical presence in Lithuania. This includes the office where the documents will be stored and the staff responsible for managing and complying with regulatory requirements.
4. A reliable management team. Regulators are evaluating the experience and reputation of key employees, including the director responsible for compliance with anti-money Laundering (AML) laws.
5. Implementation of control systems. The company must prepare an AML and KYC (know your customer) policy to ensure protection from financial crimes. This is a mandatory requirement.
6. Preparation of a business plan. The regulator needs to provide a clear and detailed business plan that describes how the company will operate, what to earn and what services to provide.

Stages of obtaining an EMI license

The licensing process in Lithuania can be divided into several stages:

• Preliminary analysis. Before starting to submit documents, it is important to analyze whether your business meets the requirements, what is the probability of license approval. This will help to avoid errors and delays.
• Preparation of documents. Documents such as the company’s charter, business plan, proof of capital, internal policies, executive summaries and much more will be required.
• Application submission. The application is submitted to the Central Bank of Lithuania. The regulator checks the documents, asks clarifying questions and may request additional information.
• Passing the checks. At this stage, the company’s compliance with the requirements is assessed, including verification of the origin of capital, analysis of the team and business model.
• Obtaining a license. If all the stages are successfully completed, the company receives a license and can start working. On average, the process takes from 6 to 12 months.

Advantages of obtaining an EMI license in Lithuania

Lithuania has become an attractive hub for financial companies for a number of reasons:

1. Transparency. The licensing process is clearly regulated, and regulators provide advice at every stage.
2. Access to the EU market. By obtaining a license in Lithuania, you automatically get the right to work in all countries of the European Union.
3. Flexibility. Lithuania offers simple business conditions, which makes it ideal for startups.
4. Developed infrastructure. There are many professional consultants who can help with licensing, accounting and legal issues.
5. The efficiency of the regulator. The Central Bank of Lithuania is known for its speed and high-quality approach to working with companies.

Obtaining an EMI license in Lithuania is a real opportunity to enter the European financial services market. The main thing is to prepare everything necessary in advance, understand regulatory requirements and be ready for serious verification. Lithuania attracts companies with its friendly business environment and growth opportunities. The EMI license Lithuania gives you access to international opportunities and allows you to develop your business at the highest level.