Banking License in Lithuania

Lithuania boasts a robust financial regulatory framework, making it an attractive destination for a variety of companies, including payment systems, cryptocurrency startups, and traditional banks. To receive a banking license in Lithuania, it is essential to have a thorough understanding of local regulations and the specific requirements for financial institutions. Applicants lacking this knowledge may encounter rejections and waste valuable time. Lawtter Solutions provides comprehensive assistance to clients in securing banking licenses in Lithuania under favorable conditions.

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Advantages

Advantages of a Banking License in Lithuania

Lithuania is one of the most popular jurisdictions for obtaining banking licenses. The country offers several advantages:

In many ways, Brexit facilitated the development of the financial sphere in Lithuania. This country was the first to adapt the legislation and create attractive conditions for startups from Britain. Thanks to this, the country achieved significant economic growth and remains one of the most appealing jurisdictions in the EU for financial companies.

Lithuania is an EU country

Obtaining a license here allows you to provide activities in various countries of the Eurozone without additional bureaucratic difficulties.

Developed legislation

Lithuania is adapting its legislation to develop the financial sector. The laws in this jurisdiction are clearly written and provide reliable regulation.

The requirements for authorized capital are low

A bank can start working with 1,000,000 EUR in authorized capital – a small amount compared to other EU countries.

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Requirements

What Requirements Apply in Lithuania for Bank Licensing?

To obtain a banking license in Lithuania, it is necessary to meet a number of requirements. They concern the authorized capital, a representative office in the country, personnel, etc.

Authorized Capital

The size of the bank’s authorized capital depends on the license type. A standard license will require a capital of 5,000,000 EUR or more. If you choose a special license, the authorized capital is 1,000,000 EUR.

Presence in Lithuania

Financial organizations that intend to receive banking licenses in Lithuania must open offices there. The office must operate throughout the entire license validity period.

Personnel Requirements

In Lithuania, there are requirements not only for professional experience and qualifications but also for the number of board members. There must be at least 10 of them. At least one director must be a resident of Lithuania and speak Lithuanian.

Documents

What Documents Are Required for a License?

When registering a bank in Lithuania, you must provide a package of documents. It should contain all the key information about the financial organization:

Request to open a bank according to the prescribed form, including a unique name for the financial organization.
Founding documents of the company. It is necessary to provide a certificate of registration, charter, and other essential documents.
Copies of passport, resume (CV), and criminal record certificate for all shareholders and top managers of the company.
Documents confirming the qualifications and experience of the directors.

After you submit a package of documents, the verification stage begins. During this stage, the Central Bank of Lithuania may request additional documents to clarify information. Licensing takes 6 to 12 months.

Fast Bank Registration With Lawtter Solutions

Lawtter Solutions offers clients comprehensive services for obtaining a license in Lithuania. We are dedicated to ensuring that the application review process concludes with a positive outcome and is completed as quickly as possible. Our team will provide high-quality legal consultations and address all your questions. Our specialists will prepare the necessary documents and offer legal support at every stage of the bank licensing process.